Private-Sector Coal Financiers ‘Must Be Held to Account,’ UN Secretary-General Says

As Russia–Ukraine war raises energy, food costs, 'now is the time to put the pedal to the metal'

U.N. Secretary General Antonio Guterres (L) shakes hands with Chinese President Xi Jinping during the welcome ceremony for the Belt and Road Forum, at the International Conference Center in Yanqi Lake, north of Beijing, China, on May 15, 2017. Kenzaburo Fukuhara-Pool/Getty Images

U.N. Secretary-General António Guterres has asserted that “those in the private sector still financing coal must be held to account,” claiming that “it’s a stupid investment.”

The price of coal recently surged past $420 per metric ton to reach its highest level in 200 years, according to Rystad Energy, although that price has since fallen to $334.50 per metric ton, according to Trading Economics.