Guterres urges oil superprofit tax at COP31 to aid vulnerable nations

UN Secretary-General António Guterres called for a tax on oil superprofits at the COP31 climate conference in Antalya, urging governments to accelerate the fossil fuel phase-out to help vulnerable nations. Guterres noted the nine largest oil companies earned $95 billion in the last quarter, while the Loss and Damage Fund received only about $600 million. Brazilian President Lula said climate change has disappeared from world leaders' discourse, and urged rich countries to honor financial commitments. The conference notably lacks leaders from France, Germany, Italy, and the US, with China sending Vice President Han Zheng. Turkish President Erdogan emphasized considering countries' different development needs in the energy transition.