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The Guardian - UK
The Guardian - UK
Environment
Ajit Niranjan

G20 poured more than $1tn into fossil fuel subsidies despite Cop26 pledges – report

G20 COP26 IISD the World Bank
Coal at Newcastle, Australia, the world's largest coal exporting port
Coal at Newcastle, Australia, the world's largest coal exporting port. Scientists estimate the air pollution from fossil fuels kills up to 10 million people a year. Photograph: Saeed Khan/AFP/Getty

The G20 poured record levels of public money into fossil fuels last year despite having promised to reduce some of it, a report has found.

The amount of public money flowing into coal, oil and gas in 20 of the world’s biggest economies reached a record $1.4tn(£1.1tn) in 2022, according to the International Institute for Sustainable Development (IISD) thinktank, even though world leaders agreed to phase out “inefficient” fossil fuel subsidies at the Cop26 climate summit in Glasgow two years ago.

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