“Global governance is stuck in time. Look no further than the United Nations Security Council and the Bretton Woods system. They reflect the political and economic realities of 1945,” Guterres told the world's biggest diplomatic gathering at UN headquarters in New York.
“The world has changed. Our institutions have not. We cannot effectively address problems as they are if institutions don’t reflect the world as it is,” he said.
He warned that the world is inching closer to a ''Great Fracture'' in economic and financial systems and trade relations with geopolitical tensions are rising.
''The alternative to reform is further fragmentation. It’s reform or rupture,'' he said.
Addressing pressing issues the world is facing from climate change to wars, nuclear threats, natural disasters, inequalities and hunger, he said: “If we don’t feed the hungry, we are feeding conflict.”
''Despite our long list of global challenges, that same spirit of determination can guide us forward. Let us be determined to heal divisions and forge peace,'' he added.