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UN chief calls oil giants' $95B profits 'morally unacceptable'

lesaffaires.com (French) — November 12, 2026 at 08:01 PM UTC

UN Secretary-General António Guterres condemned rising fossil fuel profits as "morally unacceptable" on Thursday, demanding governments prioritize citizens over oil giants' earnings. He spoke exclusively to AFP at COP31 in Antalya, Turkey. Guterres called it "absurd" that nine major fossil fuel companies earned $95 billion in a single quarter amid price spikes, while ordinary people struggle to pay for heating and fuel. He insisted no new fossil fuel projects make sense, including for summit hosts Turkey and Australia. The outgoing UN chief, who leaves in December after ten years, acknowledged powerful industry interests but urged resistance. He warned the world faces an existential threat, though he insisted "we have not lost the battle" despite record emissions and the 1.5°C limit being exceeded.

With a significance score of 3.4, this news ranks in the top 8.9% of today's 31888 analyzed articles.

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