In an interview with CNBC-TV18, Munasinghe emphasized that the current risks surpass mere regional conflicts and are starting to endanger global economic stability, energy security, and food availability.
“We are, simply put, nearer to nuclear World War Three than at any point in history,” he stated. “There are sufficient nuclear weapons to eliminate humanity not ten times, but a thousand times over.”
Munasinghe pointed out that ongoing disputes in the Middle East, particularly around the Gulf of Hormuz, could result in a global economic downturn due to disruptions in energy and commodity markets. He warned of potential shortages not only in oil and gas but also in fertilizers, grains, and other essential materials needed for manufacturing.
“There are immediate solutions, but they may not be utilized,” he remarked, noting that the absence of responsible global leadership is exacerbating the crisis.
He highlighted that the agricultural sector could face severe impacts as supply chain disruptions and geopolitical tensions affect crop production cycles, already strained by the Russia-Ukraine conflict. He noted that nearly 800 million people worldwide still experience hunger, even as developed nations discard a significant amount of food.
Moreover, he expressed concern over the rising military budgets globally, especially as climate risks and poverty continue to escalate. “At present, $2 trillion is spent on military purposes—ten times more than what we allocate to assist the impoverished,” he remarked regarding global defense expenditure. “Why do we allocate tenfold more for destruction rather than for saving lives?”
Munasinghe contended that geopolitical rivalry and the influence of arms industries are steering nations toward extended conflicts instead of fostering cooperation on climate and development issues.
His comments come amidst a growing focus on climate accountability as a pressing global legal and political matter. The United Nations recently passed a resolution affirming that countries have a legal obligation to tackle climate change, following a groundbreaking opinion from the International Court of Justice.
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The United States, Saudi Arabia, Russia, Israel, Iran, Yemen, Liberia, and Belarus were among the eight nations opposing the resolution, while India, Turkey, Qatar, and Nigeria chose to abstain. Countries like Australia, Germany, France, and the United Kingdom supported it.
António Guterres, Secretary-General of the United Nations, stated that governments hold a duty to safeguard citizens against the escalating climate crisis.
Last year, the International Court of Justice asserted that nations must take action to prevent damage to the climate system and warned that inaction could lead to compensation claims and other legal repercussions.
Munasinghe also warned that while advancements like artificial intelligence could enhance productivity and create new business opportunities, they might also leave many behind if governments do not invest in reskilling workers.
“AI, or digital technology, is a double-edged sword,” he said. “The downside is evident: numerous individuals may be left behind.”
