G20 poured more than $1tn into fossil fuel subsidies despite Cop26 pledges - report

[BumRushDaShow]

Source: The Guardian

The G20 poured record levels of public money into fossil fuels last year despite having promised to reduce some of it, a report has found.

The amount of public money flowing into coal, oil and gas in 20 of the world’s biggest economies reached a record $1.4tn(£1.1tn) in 2022, according to the International Institute for Sustainable Development (IISD) thinktank, even though world leaders agreed to phase out “inefficient” fossil fuel subsidies at the Cop26 climate summit in Glasgow two years ago.

The report comes ahead of a meeting of G20 countries in Delhi next month that could set the tone for the next big climate conference, which takes place in the United Arab Emirates in November.

It is crucial that leaders put fossil fuel subsidies on the agenda, said Tara Laan, a senior associate with the IISD and lead author of the study. “These figures are a stark reminder of the massive amounts of public money G20 governments continue to pour into fossil fuels – despite the increasingly devastating impacts of climate change.”

Read more: https://www.theguardian.com/environment/2023/aug/23/g20-poured-more-than-1tn-on-fossil-fuel-subsidies-despite-cop26-pledges-report

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Link to report - https://www.iisd.org/publications/report/fanning-flames-g20-support-of-fossil-fuels

[Farmer-Rick]

1. Who got that $1.4 Trillion of tax money??????

It wasn't the poor or middle class.

So you and I pay a lot of taxes and fees to our governments. You and I suffer through the heat, dangerous storms and new diseases, from global warming. Frequently you and I can't afford the repairs, electricity or medical costs from global warming and suffer even more.

Then, our governments turn around and give away our hard earned money to the filthy-rich men, who don't work for their inherited wealth. The very same people who are causing global warming and who can easily afford the costs of their own destruction.

This is a plan??? This is Stupidity. Soon our species will find out what all those extinct animals felt like when their habitat was destroyed.

As I suffer through a heat index of 100 to 105, I can rest assured the filthy-rich are partying.

[Stargazer99]

3. This could be one reason why the middle class live from paycheck to paycheck

Last edited Wed Aug 23, 2023, 12:43 PM - Edit history (1)

while the rich get welfare. for example big business received millions during the covid mess and many reinvested in their stock NOT investing in employees payroll. Yet they whine about low income receiving loan forgiveness of $10,000. Poor babies their millions and billions can't seem to whine about needing food stamps

[peppertree]

8. +1

Isn't oligarchy grand?

[Stargazer99]

2. Maybe we need another French Revolution

since the well to do will not suffer from their greed until the planet is destroyed and us with it

[question everything]

4. I wonder whether you should spell the trillion. I had hard time deciphering it..

though this shorthand may become more common..

[BumRushDaShow]

5. LBN SOP requires using the "EXACT TITLE"

Use the EXACT TITLE of the article you are posting, without additional comment. If there is no title yet, be descriptive.

That can be a PITA because many news sites aren't even doing "headlines" as much as they are putting whole phrases and sentences in as a "headline" (meaning I have to truncate it to fit the OP title line) .

[question everything]

6. Not exactly. On occasions some add something in parentheses to clarify city

or state if the headline is: Mayor declared.., governor announced..

which is clear to the readers of, say Sacramento Bee but not to the rest of us.

[BumRushDaShow]

7. But when alert-stalked

it doesn't always work out.