G20 backslides on fossil fuel subsidies: report

PARIS, – Rich nations are still providing more than half a trillion dollars annually to fossil fuel projects despite committing to slash greenhouse gas emissions in line with the Paris climate deal, research showed Tuesday. While state support to oil, gas and coal has dipped slightly since the landmark 2015 accord, a joint analysis by three climate think tanks found that many nations’ post-pandemic stimulus plans will see billions more given to polluting fuels. In a grading of G20 countries’ performance of phasing out fossil fuel subsidies, the analysis found … Continue reading G20 backslides on fossil fuel subsidies: report