United Kingdom (UK)
Fossil fuel subsidies (USD, billions):
Fossil fuel subsidies with externalities (% of GDP):
Greta Thunberg’s accusation that world leaders are guilty of ‘blah, blah, blah’ in the face of the escalating climate crisis is ‘spot on’, according to a trio of new reports released today, which warn the opportunity provided by the coronavirus crisis to introduce sweeping fossil fuel subsidy reform and ambitious green stimulus packages is being squandered.
A reluctance to raise the cost of natural gas is understandable, given that poorer households spend more of their income on heating their homes. But it only further underscores the importance of joined-up, coherent thinking about how Britain can hit its net zero emissions target by 2050.
The idea is simple. Companies that extract fossil fuels should be responsible for ensuring the same amount of CO₂ generated from using them is buried back deep underground.
A multi-billion-dollar opportunity – Repurposing agricultural support to transform food systems (UNEP, FAO, UNDP)
Public support mechanisms for agriculture in many cases hinder the transformation towards healthier, more sustainable, equitable, and efficient food systems, thus actively steering us away from meeting the Sustainable Development Goals and targets of the Paris Agreement.
Ready-to-go renewable energy projects can provide emissions reduction, jobs and economic growth. With the right policy levers, areas in most need of jobs and growth can be winners in the green recovery.
The U.K. government is squandering an opportunity to move towards a zero carbon future by pumping billions of stimulus cash into fossil fuels and all but neglecting renewable energy, according
Financing low-carbon growth and innovation in the UK Industrial Strategy (Grantham Research Institute)
This policy brief by the Grantham Research Institute outlines how the public sector can crowd in private finance to support low-carbon growth and innovation in the UK government’s Industrial Strategy.