Sentences with phrase «total subsidies for renewables»
Even the lower figure is six times the total subsidies for renewables.
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But that remains a fantasy as long as renewable energy continues to be economically disadvantaged in favor of fossil fuel: In 2013, according to the International Institute for Sustainable Development, consumer subsidies to fossil fuels totaled $ 548 billion, compared to only $ 121 billion for renewables.
In its report the IPCC emphasises the futility of subsidies for renewable energy parallel to an emissions trading system: «The addition of a CO2 reduction policy to a second policy does not necessarily lead to greater CO2 reductions,» it says in a literal translation of the IPCC's Technical Summary: «In an emissions trading scheme with a sufficiently stringent cap other measures such as subsidising renewable energy have no further influence on total CO2 emissions.»