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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.
IISD in the news August 23, 2023

Shifting G20 fossil fuel spending could install enough renewables to align with 1.5°C—new report

In 2022, G20 members spent USD 1.4 trillion to support fossil fuels and could raise an additional USD 1 trillion per year by establishing a carbon tax floor of USD 25–50/tCO2e. These funds could help solve some of the most pressing global issues, according to a new report released today.
Press release August 23, 2023

Beyond GDP through Inclusive Wealth: Tackling the planetary crisis better

This session at the Seventh GEF Assembly will explore the experience of recent applications of expanded wealth framework to complement GDP
Conference August 23, 2023

L'explosion des subventions aux énergies fossiles

Selon un rapport publié mercredi de l'Institut international du développement durable (IISD), un laboratoire d'idées dont le siège est au Canada, mais qui possède une antenne à Genève, les énergies fossiles continuent de bénéficier d'un soutien public considérable au sein du G20. Les pays membres avaient pourtant promis de progressivement mettre fin aux subventions des énergies fossiles en 2009 déjà à Pittsburgh. Lors de la COP26 de Glasgow en 2021, ils avaient réitéré, aux côtés des autres Etats de la planète, le besoin «d'accélérer la suppression de subventions inefficaces des énergies fossiles». A l'approche du sommet du G20 qui se tiendra à New Delhi les 9 et 10 septembre et à deux mois de la COP28 à Dubaï, les promesses n'ont donc pas été tenues.
IISD in the news August 23, 2023

G20 Nations Invested Record $1.4 Trillion Into Fossil Fuels in 2022, Report Says

During last year's energy crisis, when prices soared due to Russia's invasion of Ukraine, the Group of 20 (G20) nations provided $1.4 trillion to boost energy supplies and keep prices from climbing even higher, according to the thinktank International Institute for Sustainable Development (IISD).
IISD in the news August 23, 2023

Microplastics now pervasive in Great Lakes, with 90% of water samples surpassing safe levels for aquatic wildlife: new studies

Data spanning the last ten years reveal that the Great Lakes basin is widely contaminated with microplastics, with potentially dangerous consequences for the wildlife that live within.
Press release August 23, 2023

Accelerating Innovation and Private Investment in Climate Adaptation

Securing financing for climate adaptation projects is key for tackling the effects of climate change. This session at the Seventh GEF Assembly will explore how to accelerate innovation and private investment in climate change adaptation in developing countries.
Conference August 23, 2023

Climate concerns: Ahead of G20 Summit, study says bloc poured $1.4 trillion into fossil fuels in 2022

G20 countries allocated a staggering $1.4 trillion of public funds to support fossil fuels in 2022, aiming to counter the impact of their soaring prices due to the Ukraine war and strengthen energy reserves, a new study has said.
IISD in the news August 23, 2023

G20 poured more than $1tn into fossil fuel subsidies despite Cop26 pledges: Report

The G20 poured record levels of public money into fossil fuels last year despite having promised to reduce some of it, a report has found. The amount of public money flowing into coal, oil and gas in 20 of the world’s biggest economies reached a record $1.4tn(£1.1tn) in 2022, according to the International Institute for Sustainable Development (IISD) thinktank, even though world leaders agreed to phase out "inefficient" fossil fuel subsidies at the Cop26 climate summit in Glasgow two years ago.
IISD in the news August 23, 2023

Inside COP 28

Negotiators and the wider climate community convened in Dubai for the annual UN climate talks, with this year's conference marking the conclusion of the inaugural Global Stocktake.
Page August 22, 2023

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