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Radio France Internationale
Radio France Internationale
World
RFI

G20 nations spent record money on fossil fuel subsidies in 2022: report

G20 IISD COP26 Glasgow the World Bank
A worker stands near machinery moving coal in the yard of a coal mine in Huaibei in central China's Anhui province. AP - HUANG SHI PENG

Despite promises made at the Cop26 climate summit in Glasgow to reduce fossil fuel subsidies, a report has shown that G20 nations poured a record €1.3 trillion into the fossil fuel industry in 2022.

The more than trillion dollar figure – determined by the International Institute for Sustainable Development (IISD) think-tank – casts a shadow on global leaders' commitment to phase out "inefficient" fossil fuel subsidies, coming out just ahead of a G20 meeting in September and months the key Cop28 climate conference in the United Arab Emirates in November.

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