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