Biggest economies still backing fossil fuels

15 September 2016

Analysts say the world’s 20 leading economies give nearly four times as much in subsidies to fossil fuel production as total global subsidies to renewable energy.

The governments of the world’s major industrialised countries, the G20 group, are providing more than US$450 billion a year to support the production of fossil fuels.

That is almost four times the entire world’s subsidies to the rapidly growing renewable energy sector, as the International Energy Agency (IEA) estimates total global renewables subsidies in 2013 at $121bn.

Read the full article on the Climate News Network website.

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