Tag "subsidies"

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Global fossil fuel subsidies outpace renewable support

G20 spends $444bn a year to subsidise fossil fuel production Research discovered that G20 country governments’ support to fossil fuel production marries bad economics with potentially disastrous consequences for climate change. In effect, governments are propping up the production of

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Electric cars will be cheaper than conventional vehicles by 2022

Electric cars will be cheaper to own than conventional cars by 2022, according to a new report. The plummeting cost of batteries is key in leading to the tipping point, which would kickstart a mass market for electric vehicles, Bloomberg

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Here’s how much the world’s biggest economies spend on fossil fuel subsidies

The world’s 20 top economies spend more than $400 billion dollars each year propping up fossil fuel production, a practice that threatens to seriously undermine the world’s mitigation of climate change, according to a new report by the environmental advocacy

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Fossil fuel subsidies: G20 spends billions to push us closer to climate disaster

The new report 2015 “Empty promises G20 subsidies to oil, gas and coal production” by Oil Change International reveals that the G20 spent an average of $452 billion each year in 2013 and 2014 to support fossil fuel production, despite

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Empty promises: G20 subsidies to oil, gas and coal production

G20 country governments are providing $452 billion a year in subsidies for the production of fossil fuels. Their continued support for fossil fuel production marries bad economics with potentially disastrous consequences for the climate. In effect, governments are propping up

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New analysis finds fossil fuel subsidies exceed Green Climate Fund support 40 to 1

New analysis from Oil Change International and Climate Action Network – Europe released today at the COP21 United Nations climate negotiations reveals that G7 countries along with Australia spend 40 times more on support for fossil fuel production than they

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Fossil fuel follies

If the world is to avoid climate catastrophe, it will have to forego burning almost 90 per cent of proven coal reserves, plus one-third of oil and half of natural-gas reserves. But instead of implementing policies aimed at realizing that

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Now is the time for a carbon tax, Imf chief says

The head of the International Monetary Fund (Imf) called for a carbon tax at the Imf/World Bank annual meeting in Lima, Peru. Meanwhile, reports show that more and more places are adopting carbon taxes, in largely successful efforts to use

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Renewables industry dismayed at ‘handbrake turn’ on policy

Renewable energy companies have reacted with dismay to what it described as the Government’s “handbrake turn” on support for the industry. The Department of Energy & Climate Change (DECC) has unveiled a series of sweeping measures including: – an end

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The global addiction to energy subsidies

Energy prices have been falling for a year. Over the last month that trend has accelerated. On July 24th, the price of a barrel of oil in America reached a low of $48. In spite of this, governments are still

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