Fossil-Fuel Subsidies of Rich Nations Five Times Climate Aid

Fossil-Fuel Subsidies of Rich Nations Five Times Climate Aid

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Rich countries spend five times more on fossil-fuel subsidies than on aid to help developing nations cut their emissions and protect against the effects of climate change, the Oil Change International campaign group said.

In 2011, 22 industrialized nations paid $58.7 billion in subsidies to the oil, coal and gas industries and to consumers of the fuels, compared with climate-aid flows of $11.2 billion, according to calculations by the Washington-based group. The data underline the steps developed nations may be able to take to cut their emissions as ministers from 190 nations meet in Doha to discuss measures to curb global warming. Eliminating the subsidies would reduce incentives to pollute and help rich nations meet their pledge to provide $100 billion a year in climate aid by 2020, said Stephen Kretzmann, the founder of Oil Change International.

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