Climate Cooperation Key To Countering Global Heating, Fossil-Fuel Cost Chaos, Says UN Climate Chief

BERLIN, April 21 (Bernama-Xinhua) -- UN Climate Change Executive Secretary Simon Stiell said on Tuesday that the world is facing the threat of fossil-fuel-driven stagflation and that climate cooperation is key to fending off the twin crises of global heating and fossil-fuel cost chaos, Xinhua reported.

Speaking at the opening of the Petersberg Climate Dialogue, Stiell said the latest war in the Middle East has "further locked-in much higher fossil fuel costs for months and likely years to come, delivering a gut-punch to every nation and billions of households."

He warned that fossil-fuel-driven stagflation "is now stalking economies -- driving up prices, driving down growth, pushing budgets deeper into quagmires of debt, and stripping away governments' policy options and autonomy."