G20 countries spent record $1.4 trillion to support coal, oil, gas: Research
After almost 14 years of committing to phase out fossil fuels, the G20 members spent a whopping $1.4 trillion in public money to support fossil fuels in 2022.
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Staggering $1.4 Trillion: G20 Nations' Fossil Fuel Support Exposed In IISD Report Ahead Of Leaders' Summit
As the G20 Leaders' Summit approaches in September, a groundbreaking report has unveiled startling figures: G20 member nations allocated a staggering $1.4 trillion last year to prop up fossil fuels. Released on Wednesday, the report titled "Fanning the Flames: G20 provides record financial support for fossil fuels" by the International Institute for Sustainable Development (IISD) has raised concerns over the dissonance between climate commitments and financial decisions.
The Elephant in the Room: How the G20 can veer from record fossil fuel support
This webinar offered a first glimpse at the findings of a new study by the International Institute for Sustainable Development (IISD) and partners examining the volume of public financial support for fossil fuels in G20 members last year.
Rich countries breach climate promises, increase fossil fuel spending
The world's richest countries breached their self-proclaimed climate commitment to limit fossil fuel investments and spent a record $1.4 trillion in subsidies on coal, oil and gas in 2022. According to the International Institute for Sustainable Development (IISD), the G20 broke a unified agreement reached at a climate summit in Glasgow in 2021 to phase out "inefficient" fossil fuel subsidies.
Climate concerns: G20 nations poured $1.4 trillion into fossil fuels in 2022
A recently published report suggests that redirecting fossil fuel subsidies from G20 countries towards investing in renewable energy sources can have a multifaceted impact. Not only would it contribute to combating climate change, but it could also address pressing global issues like hunger, energy access, and environmental pollution.
G20 poured record levels of public money into fossil fuels in 2022: Report
G20 members provided a record $1.4 trillion in public money to support fossil fuels in 2022, according to the study "Fanning the Flames: G20 Provides Record Financial Support for Fossil Fuels" by the International Institute for Sustainable Development (IISD) and partners.
Advancing Biodiversity-Positive Nature-Based Climate Solutions
From India to Ethiopia to Canada, exploring valuable examples of nature-based solutions’ potential while showcasing their versatility.
G20 nations spent record money on fossil fuel subsidies in 2022 despite Glasgow pledges
Even as world leaders talk big about tackling climate change by reducing reliance on non-renewable energy, a new report has revealed the world’s largest 20 economies spent a record amount of money on burning fossil fuels last year. G20 nations spent a whopping $1.4 trillion on coal, oil and gas in 2022, the International Institute for Sustainable Development (IISD) think tank revealed in its report.
G20 countries spent more than £1.1tn on fossil fuel subsidies after Ukraine war
At COP26 in 2021, member countries agreed to accelerate "the phase-out of unabated coal power and of inefficient subsidies for fossil fuels" in a bid to slow climate change. But according to the think tank International Institute for Sustainable Development (IISD), subsidies the following year from G20 countries reached $1tn–over four times the amount provided in 2021.
G20 Nations Dished Out at Least $1 Trillion in Fossil Fuel Subsidies in 2022: Analysis
An analysis released this week by the International Institute for Sustainable Development shows that G20 countries spent at least $1 trillion on fossil fuel subsidies in 2022, running afoul of recent pledges to curb financial support for the sector most responsible for the global climate emergency.