Global economy | Green recovery

Support for fossil fuel production rising again

05/06/2020 PNG

New OECD data show that total fossil fuel support in 44 OECD and G20 economies rose by 10% in 2019 to USD 178 billion, ending a five-year downward trend. The combustion of fossil fuels in power plants, vehicles, machinery, and dwellings (linked to the production and use of coal, oil, gas and petroleum products) continues to be a leading contributor to global greenhouse-gas emissions. This not only undermines global efforts to mitigate climate change but aggravates local pollution problems, further damaging environmental and human health. As governments design stimulus measures for economies hit by the Covid-19 crisis, they should seize the opportunity of historically low oil prices to redirect fossil-fuel investments into sustainable energy infrastructure as well as health systems, research and job training.

See country data here http://www.oecd.org/fossil-fuels/data/

TwitterFacebookLinkedInEmail