Oil, Coal, & Gas Got $5.9 Trillion In Subsidies In 2020 — IMF Report
Direct and indirect subsidies for fossil fuels reached an all time high in 2020.
International Monetary Fund
IMF Advocates For Carbon Assessments
The IMF says a price on carbon is far more effective than government rules and regulations. It recommends a minimum cost of $75 per ton of carbon dioxide.
US Subsidizes Fossil Fuels To The Tune Of $4.6, $27.4, Or $649 Billion Annually, Depending…
In 2022, new wind energy will get zero financial assistance of any kind and new solar will get very little, while fossil fuels will continue to get $4.6 billion annually in the best possible accounting, $27.4 billion in a reasonable accounting and $649 billion in a full accounting including negative externalities.
Yes, The International Monetary Fund Is Waking Up To Financial Risks Of The Climate Crisis
It’s a sign of the times that even the International Monetary Fund (IMF) is exploring ways in which it can help address the climate crisis. Building on two new IMF papers released last week and Managing Director Christine Lagarde’s eight years of leadership, this mainstay of traditional economic thought is lending its voice and unique mandate to the cause of tackling climate change.
Unprecedented Carbon Pricing Leadership Coalition Comes Online
From our correspondent on the spot, Jessica Langerman: The other night, over twenty Citizens Climate Lobby volunteers crammed into a small Paris apartment to absorb the extraordinary news of the day: President François Hollande of France had joined other heads of state as well as World Bank Group President Jim Yong Kim … [continued]
Culling Fossil Fuel Subsidies Would Reduce Emissions By 11%
A new report modelling the removal of fossil fuel subsidies in 20 countries showed such a move would reduce national emissions by an average of 11%. Rampant Fossil Fuel Subsidies The call for an end to renewable energy subsidies can often be heard reverberating around the world, with governments, lobbyists, … [continued]
UN Climate Talks: Bungling It Up All Over Again?
Okay. So the UNFCCC/ADP (international group in charge of climate mitigation and adaptation) is meeting again this week in Bonn. As always, at the climate talks they’re trying to cobble together a treaty that will unite the world to forestall the grimmest of possible calamities for the human race. And … [continued]
World Bank & IMF Boost International Climate Funding
Over the weekend, thousands of the world’s finance ministers and central bankers from 188 countries of the world gathered in Lima, Peru, for the annual meetings of the World Bank and the International Monetary Fund. The two United Nations groups focus on long-term economic development and macroeconomic issues, respectively. While … [continued]
Carbon Pricing Schemes Have Almost Doubled Since 2012
The World Bank has concluded that carbon pricing schemes globally have almost doubled since 2012, and are now worth about $50 billion. In a new Feature Story on its website, The World Bank Group have praised the efforts of nations, cities, and businesses the world over, for implementing carbon pricing schemes. … [continued]
Amber Rudd Defends Cuts To UK Feed-in Tariff
Amber Rudd, the UK’s Energy and Climate Change Secretary, has defended her government’s decision to cut solar’s access to the country’s popular feed-in tariff scheme. Announced last week, the UK Government revealed the result of its consultation into various renewable energy incentives — including the wildly successful feed-in tariff (FiT) … [continued]
