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G20 states spend US$88b in fossil fuel exploration subsidies: Report

2014-11-10 18:40:00| Climate Ark Climate Change & Global Warming Newsfeed

Agence France-Presse: Leading world economies are spending US$88 billion a year in fossil fuel exploration subsidies, sapping investment from low-carbon alternatives and increasing the risk of "dangerous climate change", a report said on Tuesday (Nov 11). The report by Britain's Overseas Development Institute think tank said that these subsidies "could drive the planet far beyond the internationally agreed target of limiting global temperature increases to no more than two degrees Celsius". The report was published in...

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