Fossil fuel subsidies five times more than climate aid funding

Fossil fuel subsidies spending is five times more than climate aid to developing nations, the Oil Change International campaign group said. The Washington-based group said that in 2011 developed countries spent $58.7 billion in subsidies to oil, coal, gas industries and to their consumers. Climate aid allocation, on the other hand, was at a far $11.2 billion. Oil Change International founder Stephen Kretzmann said eliminating these subsidies would not only discourage pollution but would free up funds for the $100 billion a year climate aid promised by 2020.

Click here to read the story.

Did you find this article useful? Join the EB Circle!

Your support helps keep our journalism independent and our content free for everyone to read. Join our community here.

Most popular

Featured Events

Publish your event
leaf background pattern

Transforming Innovation for Sustainability Join the Ecosystem →