Overview
- U.N. Secretary‑General António Guterres urged a mobilization of $1.3 trillion per year by 2035 to fund mitigation, adaptation, and resilient infrastructure in a speech at London Climate Action Week.
- He demanded that wealthy countries deliver earlier promises, including the $300 billion pledged to developing countries and support for the Green Climate Fund and the Loss and Damage Fund.
- Guterres called on multilateral development banks to deploy an estimated $600–800 billion in expanded lending capacity and to offer far longer loan tenors, including 50‑year finance where needed.
- He highlighted Africa’s untapped potential—about 60% of the world’s best solar resources and 30% of critical minerals—while noting that more than 600 million people on the continent still lack electricity.
- The speech is an advocacy push rather than new funding; it raises diplomatic pressure on governments and lenders to turn pledges and bank capacity into concrete, long‑term investments that reach vulnerable communities.