‘Suicidal’ model of capitalism leading to war and fascism, climate summit told
Summary
Colombia’s President Gustavo Petro said the current system of capitalism harms the planet and risks causing war, fascism, and even extinction. At a climate summit in Colombia, 57 governments discussed plans to move away from fossil fuels and address climate change, highlighting the challenge of debt in poorer countries.Key Facts
- President Gustavo Petro called the current fossil fuel-based capitalism “suicidal” because it threatens human survival.
- The climate summit in Santa Marta, Colombia, brought together 57 governments to talk about ending dependence on fossil fuels.
- Colombia and France shared plans to reduce fossil fuel use, with France aiming to end coal by 2027 and oil by 2045.
- France plans to increase renewable energy alongside its existing nuclear power and wants to become a major green electricity supplier in Europe.
- Developing countries stressed that debt is a major obstacle to shifting away from fossil fuels because they rely on fossil fuel exports for income.
- Debt in Africa has doubled in five years to over $1 trillion, making it harder for countries to fund climate solutions.
- Rising global interest rates and higher fuel and food prices make economic conditions tougher for poorer nations.
- The conference aims to advance climate action where UN meetings have had limited progress.
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