G20 PUBLIC FINANCE FOR FOSSIL FUELS OUTPACES RENEWABLES

07/10/2017

Ahead of the G20 summit a report revealed that the G20 nations provide four times more public financing to fossil fuels than renewable energy. The authors of the report accused the G20 of “talking out of both sides of their mouths.” Soft loans and government guarantees, along with fossil fuel subsidies, make fossil fuel plants cheaper and lock in carbon emissions for decades to come. A new report showed that G20 countries provided an average of $71.8 billion of public finance for fossil fuel projects per year between 2013-2015, compared to $18.7 billion for renewable energy. For the full story see https://www.theguardian.com/world/2017/jul/05/g20-public-finance-for-fo…