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August 24, 2023

Public finance for fossil fuels in G20 countries spikes to $1.4tn, says think-tank

The IISD estimates that public sector support to the fossil fuel industry in G20 countries more than doubled to $1.4tn last year. (Photo: David McNew/Getty Images)
The IISD estimates that public sector support to the fossil fuel industry in G20 countries more than doubled to $1.4tn last year. (Photo: David McNew/Getty Images)

Larger funding for oil and gas producers compromises governments’ Paris Agreement commitments and leads to new energy crises, says the IISD. Public sector support to the fossil fuel industry in G20 countries more than doubled to $1.4tn in 2022, according to estimates by the International Institute for Sustainable Development and...

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