PM won't sign an international agreement to phase out fossil fuel subsidies.
BY BRENDAN MONTAGUE AND KYLA MANDEL IN PARIS Fossil fuel subsides totalling $500 billion globally must be scrapped to prevent catastrophic climate change, t he Prince of Wales’s Corporate Leaders Group told the COP 21 conference today. John...Show More Summary
People throw out many numbers for fossil fuel subsidies, often without realizing what the different numbers mean.
A new report from the New Climate Economy highlights lessons learned from 15 countries who have undertaken reforms of fossil fuel subsidy policy. The paper, Fossil Fuel Subsidy Reform: From Rhetoric to Reality, was partly responsible...Show More Summary
MetalMiner: "A recent IMF report states that the fossil fuel industry has been and continues to be subsidized to such a degree that simply ending what it estimates to be the industry’s current subsidies would cut carbon emissions by 20%."
G20 nations spend $452 billion each year on fossil fuel subsidies. But some countries are at least starting to reform those programs.
Government also putting more taxpayer money into fossil fuel subsidies.
Much positive attention has recently been given to both the potential for renewables to meet all our energy needs as well as the actual spread of solar- and wind-generated electricity. For example, the International Energy Agency recently released its much-watched World Energy Outlook 2015. Show More Summary
And people say renewables aren't feasible without government support...
Fossil Fuel Subsidies Top $450 Billion Annually, Study Says; The report underscores the obstacles the world faces in transforming the global energy economy just weeks before critical Paris climate treaty talks. Naveena Sadasivam, November...Show More Summary
A new report has concluded that members of the G20 are providing $452 billion per year on fossil fuel production subsidies. Despite numerous pledges to minimize or cut fossil fuel subsidies entirely, and amid tremendous international...Show More Summary
Subsidies for fossil fuels continue in spite of phase out pledge, substantially exceeding assistance to renewables.
Despite pledging to end fossil fuel subsidies in 2009, the world's major economies still spend billions each year on fossil fuel production. The post The World’s Major Economies Pay More Than $450 Billion To Support The Fossil Fuel Industry appeared first on ThinkProgress.
By Alex Kirby / Climate News Network Analysts say the world’s 20 leading economies give nearly four times as much in subsidies to fossil fuel production as total global subsidies to renewable energy.
A new joint investigative report by Oil Change International and the Overseas Development Institute reveals that, in the United States alone, the fossil fuel industry has benefited from over $20 billion per year in government subsidies...Show More Summary
The UK has been chastised for failing to phase out fossil fuels, after a new report revealed Britain was the only G7 country considerably increasing oil and gas subsidies while cutting support for renewable energies, in an embarrassing revelation ahead of the Paris Climate Change Convention.
Renewables represent the future, even if they get far less in subsidies than fossil fuels. At least according to the data in the latest report from the International Energy Agency. The agency’s World Energy Outlook 2015 provides a comprehensive forecast of the use and consumption of energy worldwide. Energy demand is [...]
This year, the world's governments are expected to hand out tax breaks and subsidies to the oil, gas, and coal industries to the tune of $233 billion. But the free ride for fossil fuels goes beyond that. That's because fossil fuel companies don't have to pay for the huge amount of damage caused by pollution from their products. Show More Summary
Removing fossil fuel subsidies would significantly cut greenhouse gas emissions within five years, according to research by the International Institute for Sustainable Development and the Nordic Council of Ministers. The report, Tackling...Show More Summary
A new report modelling the removal of fossil fuel subsidies in 20 countries showed such a move would reduce national emissions by an average of 11%. Rampant Fossil Fuel Subsidies The call for an end to renewable energy subsidies canShow More Summary