The G20 countries have provided more than $3.3tn (£2.4tn) in subsidies for fossil fuels since the Paris climate agreement was sealed in 2015, a report shows, despite many committing to tackle the crisis.
The Inter-American Development Bank (IDB) is recommending that finance and planning ministries in Latin American and the Caribbean (LAC) consider fiscal policies to accelerate the transition to green economies and pave the way for the region to meet decarbonisation goals.
Fossil fuel subsidies persist despite the climate crisis. They distort the energy market by keeping fossil fuel prices artificially low. Removing these subsidies must be accompanied by social programmes that will reduce the impact on the poorest household.
As calls to end government subsidies of fossil fuels grow in intensity, a new report finds that Canadian governments have allocated billions of taxpayer dollars to building and expanding new pipelines in the past year alone.
Across Italy, France, Portugal and Spain, at least €8.3bn of EU recovery funds are planned to be spent on hydrogen and renewable gases thanks to
The Informal Dialogue on Plastics Pollution and Environmentally Sustainable Plastics Trade currently has 16 co-sponsors. Ambassador Chad Blackman of Barbados, one of the Dialogue’s co-coordinators,
The European Union’s huge subsidy programme for agriculture is failing to rein in greenhouse gas emissions from farming, despite 100 billion euros of such subsidies being labelled as climate spending since 2014.
The proposals would offer fossil fuel companies cash to build out carbon capture technology, propping up the liquid natural gas industry.
The African, Caribbean and Pacific Group and the Africa Group shared a joint proposal to replace special and differential treatment provisions under the overfishing pillar