Hooray for the Paris climate agreement! Now what?
"Laura Merrill, a senior researcher who worked on the report, told me global emissions likely would drop at least 10% if all fossil fuels subsides were cut. "I think it is the elephant in the boardroom, really," she said. "It's about $500 billion (in subsidies) downstream to consumers and about $100 billion (in subsidies) upstream to producers. That's a huge amount of financing" that could be used for renewable energy."
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