© 2020 – 2024 AEA3 WEB | AEAƎ United Kingdom News
AEA3 WEB | AEAƎ United Kingdom News
Image default
News

Fossil fuel industry gets subsidies of $11m a minute, IMF finds

Trillions of dollars a year are ‘adding fuel to the fire’ of the climate crisis, experts say

The fossil fuel industry benefits from subsidies of $11m every minute, according to analysis by the International Monetary Fund.

The IMF found the production and burning of coal, oil and gas was subsidised by $5.9tn in 2020, with not a single country pricing all its fuels sufficiently to reflect their full supply and environmental costs. Experts said the subsidies were “adding fuel to the fire” of the climate crisis, at a time when rapid reductions in carbon emissions were urgently needed.

Continue reading…

Related posts

Chris Rock jokes about slap after Will Smith apology video

AEA3

Boris Johnson pictured at Christmas quiz with prosecco and tinsel

AEA3

No Harry, Meghan or Andrew on balcony at start of jubilee events

AEA3