G20 urged to ditch $88bn subsidies for fossil fuel exploration

Will Nichols
clock •

Report issued ahead of Brisbane Summit says handouts amount to a 'publicly-financed bail-out' for uneconomic high carbon investments

The world's 20 richest countries handed out $88bn in subsidies to support fossil fuel exploration last year, exacerbating a "triple-lose" situation that threatens to accelerate dangerous climate change,...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

Will Nichols
Author spotlight

Will Nichols

View profile
More from Will Nichols

Intelligent Energy hails 'transformational' £1.2bn India fuel cell deal

The end of the beginning...

More on Energy

How mine water could warm up the UK's forgotten coal towns
Energy

How mine water could warm up the UK's forgotten coal towns

Funding gaps, regulatory red tape and a shortage of skilled workers are stalling the UK's mine-water heating projects, according to the University of Manchester's Jingyi Li, Alejandro Gallego Schmid and Cathy Hollis

Jingyi Li, Alejandro Gallego Schmid and Cathy Hollis, University of Manchester
clock 16 April 2025 • 5 min read
NESO: Britain's electricity demand could fall below Covid lockdown levels this summer
Energy

NESO: Britain's electricity demand could fall below Covid lockdown levels this summer

National Energy System Operator says efforts to boost grid flexibility mean it is well placed to manage record low electricity demand and potentially deliver periods of fossil-free generation

James Murray
James Murray
clock 16 April 2025 • 5 min read
Are global emissions about to enter 'structural decline' for the first time?
Energy

Are global emissions about to enter 'structural decline' for the first time?

Latest BloombergNEF outlook predicts that under a base case scenario renewables generation is set to jump by a massive 84 per cent by 2030

James Murray
James Murray
clock 15 April 2025 • 9 min read