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The Anthropocene News

‘Reckless’: G20 states subsidised fossil fuels by $3tn since 2015, says report

This backing for coal, oil and gas is “​​reckless” in the face of the escalating climate emergency, according to the report’s authors, and urgent action is needed to phase out the support. The $3.3tn could have built solar plants equivalent to three times the US electricity grid.

60% of the fossil fuel subsidies went to the companies producing fossil fuels and 40% to cutting prices for energy consumers.