United Nations Secretary-General António Guterres called Tuesday for a sweeping increase in global climate spending, urging governments, development banks, and financial institutions to dramatically expand investments aimed at combating climate-related challenges and supporting developing nations.

Speaking during London Climate Action Week, Guterres argued that the world is not investing enough to address the growing effects of climate change and warned that communities across the globe are already experiencing its consequences.

“We must do far more to protect people and communities from the here-and-now effects of climate chaos,” Guterres said. “Because even at full speed, we cannot outrun climate change. Its impacts are already here, compounding and cascading.”

The U.N. leader also focused attention on Africa, describing the continent as rich in energy resources but largely overlooked by international investors despite its enormous potential.

“Africa is home to 60% of the world’s best solar resources, 30% of critical minerals, 1/5 of humanity,” Guterres continued. “Yet it receives just 2% of global clean energy investment. At the same time, more than 600 million Africans still lack access to electricity. This is unjust and a lost opportunity for Africa and the world.”

Guterres called on wealthier nations to fulfill their climate-financing obligations and significantly increase support for developing countries, arguing that existing commitments must be transformed into far larger long-term investments.

“Developed countries must keep their promises, including support to the Fund for Responding to Loss and Damage and the Green Climate Fund. The $300 billion pledged to developing countries must be delivered with concrete steps to mobilize the $1.3 trillion a year by 2035,” Guterres said. “In a world of shrinking aid, we must also unleash the catalytic role of multilateral development banks and the wider development finance system to help fund long-term infrastructure such as grids, mass transit, and water systems.”

The secretary-general further pressed international lending institutions to take a more aggressive role in funding major infrastructure projects and climate adaptation efforts, arguing that recent reforms have given them the financial capacity to do much more.

“Recent reforms and policy decisions have increased the lending capacity of multilateral development banks by 600 to 800 billion U.S. dollars. They must use it aggressively to finance the infrastructure of the future and climate adaptation,” Guterres continued. “They must also adapt their instruments to match the scale and time frame of the challenge, including 50-year finance where needed.”

Guterres’ remarks reflected the United Nations’ continuing push for large-scale international funding commitments as global leaders debate how to finance climate initiatives, energy transitions, and infrastructure projects in developing regions over the coming decades.