Since the Paris Agreement, G20 countries have subsidized US$3 trillion in fossil fuels

A report by BloombergNEF and Bloomberg Philanthropies shows that G20 countries continue to subsidize Fossil fuels At the expense of the environment. Although committed to combating climate change, since the 2015 Paris climate agreement, G20 countries have provided more than US$3.3 trillion in subsidies for fossil fuels.

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Ansha Williams, head of the environment at Bloomberg Philanthropy, said that countries have promised to address climate change on paper, but the action tells a different story. “On the surface, global leaders and governments recognize the urgency of the climate challenge, and the G20 countries have made ambitious commitments to reduce the scale of fossil fuel development and transition to low energy consumption.carbon Economy,” Williams said.

Related: G7 leaders pledge to curb climate change, but there are shortcomings in coal

“But in fact, the actions taken by these countries so far are far from what is needed. As a host climate Emergency situations around the world are getting worse, and the continued development of fossil fuel infrastructure is simply reckless. We need more than words-we need actions. “

Michael Bloomberg and the UN envoy urge governments to take action before the G20 meeting in Italy on Friday. The G20 energy and climate ministers will meet in Italy to discuss key environmental factors.United Nations supported Net zero The Asset Owners Alliance (NZAOA) also expressed support for the new commitment during the meeting.

NZAOA Chairman Günther Thallinger said that although the organization welcomes new commitments, it must be accompanied by action, because commitments alone cannot solve the problem. “Commitments and goals alone are not enough to change direction,” Tallinger said. Thallinger added that subsidies provided by developed countries disproportionately benefit the rich, while those who are not polluted result.

Another recently prepared report International Institute for Sustainable Development It shows that by 2030, 32 countries can only reduce carbon dioxide emissions by 5.5 billion tons. This is equivalent to the emissions produced by 1,000 coal-fired power plants.

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Guide image via Pixabay

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