All results
Showing 1661-1670 of 8784 results
How fossil fuel subsidies are hurting the energy transition
G20 leaders are preparing to meet in New Delhi on Sept. 9-10, where action to tackle climate change and boost clean energy will be on the agenda—but recent reports have exposed how the world’s most powerful nations are still pouring huge amounts of money into supporting the production and use of fossil fuels. Analysis from the International Institute for Sustainable Development (IISD) shows that G20 governments provided a record US$1.4 trillion to subsidize climate-heating fossil fuels in 2022.
India's renewable energy ambitions could exceed 500 GW: ISA
India is poised not only to achieve its ambitious target of 500-gigawatts renewable energy capacity by 2030 but also surpass it, driven by an anticipated decline in battery prices by 2025, according to Ajay Mathur, Director General of the International Solar Alliance. Mathur said a fall in battery prices by 2025 could drive the widespread adoption of solar plus battery solutions, leading to the realization of India's ambitious target of installing 500 GW of renewable energy capacity by 2030—one of the five commitments Prime Minister Narendra Modi made during the 2021 Glasgow climate talks.
Border Carbon Adjustments: Priorities for international cooperation
This IISD policy brief looks into border carbon adjustment design elements that are priorities for international cooperation, as well as the possible venues, formats, and shapes that such a discussion might take.
Border Carbon Adjustments: Pivotal design choices for policy-makers
This policy brief covers the pivotal choices in the design of border carbon adjustments, aiming to provide useful insights to policy-makers and set the ground for the broader discussions about the best practices.
IMF: Fossil fuel subsidies hit RM6t
Despite repeated government pledges to cut back on fossil fuel subsidies, a new report found such subsidies surged to a record US$1.3 trillion (RM5.95 trillion) last year. The report by the International Monetary Fund looked at both explicit and implicit subsidies for fossil fuels across 170 countries. The findings dovetail with a report that came out earlier last week by the International Institute for Sustainable Development (IISD), a Canada-based think tank, which found that public monies in Group of 20 countries alone going to explicit fossil fuel subsidies more than quadrupled to US$1 trillion in 2022 compared to a year ago.
Global fossil fuel subsidies and costs hit record $7tn in 2022, IMF reports
Global fossil fuel subsidies hit a record total of $7tn in 2022 as governments rushed to shield consumers from soaring energy prices sparked by Russia's invasion of Ukraine, the IMF estimates. This compares with the most recent estimates from the International Institute for Sustainable Development think-tank this week that said subsidies from G20 economies stood at $1.4tn, including investments by state-owned enterprises and loans from public finance institutions.
The staying power of fossil fuel subsidies
Well over a decade after high-profile international vows to rein in subsidies for producing and using fossil fuels, they remain deeply woven into government policies.
G20 nations provided a record $1.4 trillion in support of fossil fuels last year
Russia's invasion of Ukraine in February of last year caused an energy price crisis, which led to G20 governments cushioning the effects on the fossil fuel industry and consumers to the tune of $1.4 trillion. The staggering amount was provided in the form of subsidies, investments by state-owned enterprises, and lending from public financial institutions, a recent report by the International Institute for Sustainable Development (IISD) said.
Spending on global fossil fuel subsidies in 2022 shattered all-time records – Report
According to a new report, 2022 saw record-shattering spending on fossil fuel subsidies as some parts of the world face devastating climate impacts. Though the sharp uptick in subsidies was driven by a response to the energy crisis, authors of the report highlighted that fossil fuel subsidies be redirected to welfare and those who need it most.