Fossil-fuel subsidies are one of the biggest financial barriers hampering the world's shift to renewable energy sources. Each year, governments around the world pour around half a trillion dollars into artificially lowering the price of fossil fuels — more than triple what renewables receive. This is despite repeated pledges by politicians to end this kind of support, including statements from the G7 and G20 groups of nations.
IISD in the news
October 20, 2021