The G20 pledged to end fossil fuel subsidies in 2021—and then quadrupled them in 2022
The G20 countries aren’t walking the walk to match their talk about reducing fossil fuel subsidies. Quite the opposite, in fact. The volume of public money flowing into coal, oil, and gas in the world's 20 biggest economies hit a record $1.4 trillion in 2022, a new report by International Institute for Sustainable Development (IISD) revealed. Of this, a trillion went towards all sorts of subsidies—mostly for consumers.
You might also be interested in
Rethinking Investment Treaties
The reports maps out how the treaty system can be redesigned from the bottom up to accelerate—rather than obstruct—genuine sustainable development and international cooperation.
G20 Finance Ministerials and World Bank/IMF Spring Meetings: Expert comment
G20 finance ministerials and World Bank/IMF spring meetings will take place this week in Washington. High on the agenda is the need to mobilize trillions of dollars of investment in the transition to clean energy.
Experts Call on G7 to Get Serious on Fossil Fuel Subsidy Reform
At this month’s G7 meetings, ministers need to close the loopholes and show they are serious about tackling fossil fuel subsidies.
Copenhagen Climate Ministerial: Expert comment
Around 40 climate leaders and ministers are meeting in Copenhagen from March 21 to 22 to discuss priorities for COP 29.