Fossil subsidies take the bulk of finance needed for an inclusive renewable energy sector
The world is spending at least $1.8-trillion every year, equivalent to 2% of GDP, on subsidies that are destroying nature, new research released on Thursday has found.
The study, titled Protecting Nature by Reforming Environmentally Harmful Subsidies: The Role of Business, was co-funded by The B Team and Business for Nature, and is the first estimate in 10 years of the total value of environmentally harmful subsidies (EHS) across key sectors including energy, agriculture, transport and forestry.