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Just 10% of fossil fuel subsidy cash ‘could pay for green transition’

By Anne workforce / August 13, 2019

Redirecting small portion of subsidies would unleash clean energy revolution, says report

Switching just some of the huge subsidies supporting fossil fuels to renewables would unleash a runaway clean energy revolution, according to a new report, significantly cutting the carbon emissions that are driving the climate crisis.

Coal, oil and gas get more than $370bn (£305bn) a year in support, compared with $100bn for renewables, the International Institute for Sustainable Development (IISD) report found. Just 10-30% of the fossil fuel subsidies would pay for a global transition to clean energy, the IISD said.

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Read more: theguardian.com

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