IISD in the news

G20 countries spent record $1.4 trillion to support fossil fuels last year; more than double of 2019

Ahead of the G20 Leaders' Summit in September, a report has found that G20 member countries spent $1.4 trillion last year to support fossil fuels. The report titled "Fanning the Flames: G20 provides record financial support for fossil fuels" by International Institute for Sustainable Development (IISD), released on Wednesday, found that G20 members spent $1.4 trillion public money to support fossil fuels—more than double the pre-Covid-19 and pre-energy crisis spends, as recently as in 2019.

August 23, 2023