Each year, G20 countries provide nearly four times more public finance to fossil fuels than to clean energy, according to a new report released today. In total, public fossil fuel financing from G20 countries averaged some $71.8 billion per year, for a total of $215.3 billion in sweetheart deals for oil, gas, and coal over the 2013-2015 timeframe covered by the report.
The clean energy picture got a little bit brighter in Canada last week, after the 2017 budget started chipping away at the $1.6 billion in federal subsidies to oil and gas companies each year.
The German chancellor, Angela Merkel, has her first face to face meeting with President Trump tomorrow when she visits Washington.
In his first outing as Secretary of State, former ExxonMobil CEO Rex Tillerson may have been quiet, but the world’s climate leaders were not. Ahead of the G20 meeting of foreign ministers, hosted by Germany in Bonn, German government officials didn’t mince words: “You can’t fight climate change by putting up barbed wire,” said Foreign Minister Sigmar Gabriel, a not-so-thinly veiled swipe at Rex Tillerson and Donald Trump’s climate denial, and the Trump Administration’s racist immigration policies.
Today Rex Tillerson, under oath, denied the existence of fossil fuel subsidies. In fact, according to our new analysis ExxonMobil likely gets as much as $1 billion in subsidies each year.
FOR IMMEDIATE RELEASE September 5, 2016 Contact: Alex Doukas, alex [at] priceofoil [dot] org G20 leaders fail to act on fossil fuel subsidies, undermining Paris climate goals In response to the statements on fossil fuel subsidies in the G20 Leaders’ Communique, which fail to establish a deadline for the phase out of subsidies, Oil Change International has … Read More
Today, G20 leaders in China again failed to set a deadline to end fossil fuel subsidies, seven years after they first committed to ending them. Even as G20 governments move to ratify the Paris Agreement on climate change, they’re adding fuel to the fire by dumping $444 billion of our money into polluting fossil fuel companies every year, undermining the spirit … Read More
This week, the leaders of Mexico, Canada, and the United States met in Ottawa for the North American Leaders’ Summit. In their outcome statement on climate and energy, they committed to “phase out inefficient fossil fuel subsidies by 2025 and call on the other members of the G-20 to do the same.” Along with their … Read More
More than 200 civil society organizations have joined together to urge G20 governments to commit to end fossil fuel subsidies by 2020.
This year, G20 leaders reiterated their same tired commitment to end fossil fuel subsidies, for the seventh time in a row. It’s starting to ring hollow.