Sentences with phrase «global subsidies for fossil fuels»

Global subsidies for fossil fuels have returned to levels not seen since before the financial crisis in 2008, estimated at $ 523 billion to $ 1.9 trillion, according to a new report.

Unfortunately, however, government resources are actually flowing the other way: according to a report from the U.S. - based National Resources Defense Council, since 2009, global subsidies for fossil fuels have almost tripled to an estimated US$ 775 billion this year.

Not exact matches

Eliminating fossil fuel subsidies would slash global carbon emission by 20 percent and raise government revenue by 2.9 trillion, well over the funds needed for intelligent policy and action on climate adaptation.»

A study published today, by a group led by the International Institute for Applied Systems Analysis (IIASA), indicates that eliminating fossil fuel subsidies could curb global greenhouse gas emissions by as much as 5 % through 2030 while saving hundreds of billions of dollars in public money.

An unprecedented coalition of close to 40 governments, hundreds of businesses and influential international organisations has called today for accelerated action to phase out fossil fuel subsidies, a move that would help bridge the gap to keep global temperature rise below 2 °C.

Setting aside the fact that in many cases clean energy competes on its own merits — for instance in the case of well ‐ situated wind farms and Brazilian sugarcane ethanol — this analysis shows that the global direct subsidy for fossil fuels is around ten times the subsidy for renewables.

The value of global fossil - fuel consumption subsidies in 2016 is estimated at around USD 260 billion, lower than the estimate for 2015, which was close to USD 310 billion.

Since 2009, the IEA has actively contributed to all energy work streams of the G20 — a group that accounts for 85 % of the global economy and 75 % of global energy demand — covering topics ranging from energy security and market transparency, to energy efficiency and the phase out of fossil fuel subsidies.

Such policies would encourage economic growth as the foundation for a cleaner environment, responsible development and use of fossil fuels until superior energy sources are found, and repeal of many of the regulations, subsidies, and taxes passed at the height of the man - made global warming scare.

Regardless of whether the IMF report gets to exactly the right number, the report provides a very credible starting point to argue over the right value to place on fossil fuel subsidies, and will be a baseline to begin rethinking the right pace for our global transition to clean energy.

«Campaigners call for an end to fossil fuel finance and subsidies to avoid dangerous global warming at a meeting to mark two years since the signing of the landmark agreement.»

Meanwhile, natural gas, at 20 % of global fossil fuel reserves, offers the largest - scale, economic - without - subsidies substitute for either coal or oil.

Major global insurance companies are urging G20 leaders to commit to a specific timeline for rapidly phasing out fossil fuel subsidies — something they've repeatedly failed to do over the years despite numerous promises to end support for the industry.

According to the IEA, global fossil fuel consumption subsidies are over twice as large as subsidies for renewable energy in 2015, which amounted to $ 150 billion globally — $ 120 billion for non-hydro renewables for power generation and about $ 30 billion for renewables in other sectors, primarily biofuels.

Kim said action was needed to create a carbon market, eliminate fossil - fuel subsidies and «green» the world's 100 megacities, which are responsible for 60 to 70 % of global emissions.

As a means of comparison, in 2011 alone the International Energy Agency estimated that global fossil fuel direct subsidies were worth $ 523 billion, compared to $ 88 billion for renewables.

Dr Birol also held meetings at the Ministry of Foreign Affairs and Trade, the Ministry of Environment and with New Zealand's Climate Change Ambassador, where the IEA and New Zealand agreed on the need to support global policy advice and quantitative analysis for the phase out of fossil fuel subsidies and the energy transition, both through bilateral collaboration and multilateral fora, such as APEC, the WTO and the G20.

Analysis in the new WEO - 2017 showed that for the first time the largest share of global subsidies that benefit fossil fuel consumption went to keep electricity prices artificially low (41 % of the global total), ahead of oil (40 %) and natural gas.

To recap, Rio has the potential to engage the world's youth to help push for meaningful progress on phasing out fossil fuel subsidies, delivering universal clean energy access, and promoting women's rights and slowing global population.

Furthermore, an estimated 11 - 18 % of global fossil fuel subsidies don't go towards directly lowering the prices that consumers pay, instead occurring in the form of tax breaks for fossil fuel companies and other forms of indirect support for industry.

You have to pinch yourself when the government announces another new subsidy for the fossil fuel industry, not only because they so recently said that renewable energy should stand on its own two feet, but also because they're announcing this just days before the latest climate conference in Paris — at which world leaders will gather to try and hammer out a global deal to reduce emissions.

But they're in the same ball park, and the Bloomberg complaint is that «This analysis shows that the global direct subsidy for fossil fuels is around ten times the subsidy for renewables.»

«This analysis shows that the global direct subsidy for fossil fuels is around ten times the subsidy for renewables.»