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Worlds Biggest Economies Still Backing Fossil Fuels

2015-11-12 14:46:00| Climate Ark Climate Change & Global Warming Newsfeed

Climate News Network: The governments of the worlds major industrialized countries, the G20 group, are providing more than US$450 billion a year to support the production of fossil fuels. That is almost four times the entire worlds subsidies to the rapidly growing renewable energy sector, as the International Energy Agency (IEA) estimates total global renewables subsidies in 2013 at $121bn. The G20 group agreed in 2009 to phase out fossil fuel subsidies in the medium term, a pledge that was repeated at its 2014...

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