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IMF: Fossil fuels receive $10m a minute subsidies

2015-05-19 10:31:00| Climate Ark Climate Change & Global Warming Newsfeed

Blue and Green: The International Monetary Fund (IMF) has said that in 2015, the fossil fuel industry will receive $5.3trn in subsidies, surpassing annual health spending for all the worlds governments. Fossil fuel companies across the planet are set to receive the huge sum from public funds throughout 2015, equating to $10m per minute. In a working paper published on Monday, the IMF described the figures as shocking, adding that the study is extremely robust. It says that the sum is owed largely to the...

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