Profits of oil and gas companies at the expense of the environment are "immoral" and their "grotesque greed" violates: Guterres

Are immoral profits of oil and gas companiesit’s the coast of environment and the people and their “grotesque greed” affects the most vulnerablesaid the Secretary General of the UN, António Guterres.

“It is immoral that oil and gas companies are making record profits from this energy crisis at the expense of the poorest people and communities and at an enormous cost to the climate,” he declared.

“Is grotesque greed it is punishing the poorest and most vulnerable people, while destroying our only common home, the planet,” he added.

He stressed that the combined profits of the world’s largest energy companies during the first quarter of this year are close to 100 billion dollars.

Within the framework of the presentation of the third report of the Response Group to the Global Crisis on Food, Energy and Finance, the Secretary General urged to “tax these excess profits” and use the funds to support to the most people vulnerable.

Similarly, countries must manage energy demandrelying on solutions based on the naturethe energy conservation and the promotion of public transport.

In addition, he reiterated that it should speed up the transition to renewable energies, since he assured that in most cases they are cheaper than fossil fuels, as well as increase funding for this industry.

The report recommends that governments find financing for energy solutions but notes that rising energy costs may crowd out lower-income countries. In addition, short-term protection policies and measures must be used to mitigate the crisis.

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According to the report, by 2030, this transition could create 85 million additional jobs.

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