Guterres calls for UN and global finance reform at BRICS summit

United Nations Secretary-General António Guterres has called for the UN Security Council and global financial institutions to be reformed as economic and political power shifts towards emerging economies.

Guterres addressed leaders at the BRICS summit in New Delhi on Sunday, saying institutions created after the Second World War no longer reflect present-day economic, demographic and geopolitical realities.

He said a more multipolar world could bring greater balance to global decision-making, but only if bodies including the Security Council and the Bretton Woods institutions change with it.

Finance, technology and climate

The UN chief set out four priorities for inclusive growth: development finance, technology, climate justice and peace.

He urged greater international support for developing countries and called on multilateral development banks to expand their capacity.

On artificial intelligence, Guterres warned that its benefits and control remain concentrated in a small number of companies and countries. He said the divide could widen inequality in income, opportunity and security.

He also pressed wealthier countries to meet existing climate-finance commitments and called for stronger support for adaptation and loss-and-damage funding.

South Africa is a founding member of BRICS. The group now includes several additional developing economies seeking a stronger role in global governance.