Coalition highlights US$95bn oil industry profits against US$600m Loss and Damage Fund as Guterres renews call for polluter accountability at COP31.
GreenFaith and international climate justice organisations have renewed calls for stronger accountability from fossil fuel companies, arguing that the industry must contribute more substantially towards addressing the growing financial and human costs of climate change.
The demand was reinforced at the 31st United Nations Climate Change Conference (COP31) in Antalya, Türkiye, where the Make Polluters Pay International Coalition honoured UN Secretary-General António Guterres for his leadership in challenging the fossil fuel industry and advocating for the polluter-pays principle.
The recognition, presented on November 13, 2026, brought together representatives of the global climate justice movement, including Meryne Warah, Global Program Director of GreenFaith; Harjeet Singh of the Fill the Fund campaign; and David Hillman and Louise Hutchins, convenors of the coalition.
A key concern highlighted during the event was the disparity between the profits generated by major oil companies and the financial resources available to countries struggling to recover from climate-related destruction.
Mr. Guterres cited figures showing that the world’s nine largest oil companies recorded US$95 billion in profits in the last quarter, compared with approximately US$600 million received by the global Loss and Damage Fund.
He said the companies generated in about 14 hours what the fund had available to help vulnerable countries recover from climate damage.
The Secretary-General called on governments to tax windfall profits from fossil fuel companies and channel the proceeds towards supporting countries facing the consequences of climate change.
“Those who profit most from fossil fuels must help foot the bill for the damage they have caused,” he said.
Mr. Guterres also renewed his call for an accelerated transition away from fossil fuels, warning that industry lobbying was obstructing progress on climate action.
He declared that “fossil fuels must go the way of the dinosaurs”, adding that governments must ensure polluters pay for the damage associated with their activities.
GreenFaith’s Global Program Director, Meryne Warah, said the demand for accountability was inseparable from the responsibility to protect human life, dignity and the future of communities.
She noted that people of faith and frontline communities were calling for an end to fossil fuel-related destruction and greater responsibility from companies that had benefited from the activities contributing to the climate crisis.
Ms. Warah commended Mr. Guterres for using his position to challenge the influence of the fossil fuel industry and reinforce the importance of justice in global climate action.
Harjeet Singh, Global Convenor of the Fill the Fund campaign, said communities that had contributed least to the climate crisis were paying the highest price through destroyed homes, droughts, wildfires, lost livelihoods and deaths.
He argued that the polluter-pays principle was necessary to address the injustice and ensure that resources were mobilised to support affected countries.
David Hillman, Director of Stamp Out Poverty, described the disparity between fossil fuel industry profits and the resources available to the Loss and Damage Fund as indefensible.
He maintained that the problem was not a shortage of wealth within the fossil fuel industry but the lack of political commitment to make major polluters contribute their fair share.
The coalition also called for legally binding measures to ensure that companies responsible for climate pollution pay towards the recovery of communities affected by floods, fires and droughts.
Anne Jellema, Executive Director of 350.org, said Mr. Guterres had helped expose an unjust system that allowed major oil companies to pollute without adequately paying for the resulting damage. She stressed that public statements must translate into enforceable action.
Jasper Inventor, COP31 Head of Delegation for Greenpeace International, similarly urged governments to stop merely applauding climate commitments and begin implementing measures to phase out fossil fuels and hold polluters accountable.
Julie-Anne Richards, Strategic Campaign Lead of the Make Big Polluters Pay Alliance Australia, also called for an accelerated transition away from fossil fuels and mechanisms requiring climate-wrecking corporations to pay for the damage they cause.
The coalition’s recognition of Mr. Guterres therefore extends beyond acknowledging his contribution to climate advocacy. It reinforces a broader demand for governments to translate climate justice commitments into policies that mobilise financing, strengthen corporate accountability and protect communities bearing the greatest costs of the climate crisis.
GreenFaith’s participation highlights the involvement of faith-based organisations in this international campaign for a fairer energy transition and greater responsibility from major fossil fuel polluters.
Source: www.climatewatchonline.com
