Fossil fuel subsidies in G7 countries grow despite reduction pledges – report
The G7 group of industrialised nations failed on a 2016 pledge to phase out "inefficient fossil fuel subsidies" by 2025, according to a report commissioned by NGO Greenpeace Germany. Instead, the total volume of fossil fuel subsidies rose 15 percent from 1.18 trillion dollars in 2016 to 1.36 trillion dollars in 2023, according to the analysis of International Monetary Fund (IMF) data carried out by economic think tank Forum Ökologisch-Soziale Marktwirtschaft (FÖS).
You are not logged in
If you want to read more, join the ENERGY-HUB club
LoginTry the monthly membership in the ENERGY-HUB club for free!
Related articles
Fraunhofer technology connects Dutch energy community to flexibility markets
Fraunhofer Institute for Industrial Mathematics (Fraunhofer ITWM) has linked an energy community on a canal near Amsterdam to the…
Vote25: Climate adaptation financing must find new footing in next German legislative period
Germany's outgoing government made important moves to protect the country against the worsening effects of climate change. Notably…
Greece installs 2.6 GW of PV capacity in 2024
Greece deployed 2.6 GW of solar in 2024, bringing its cumulative installed PV capacity to 9.6 GW by the end of December.
U.S. surpasses 50 GW of solar module manufacturing capacity
The buildout is happening across the domestic solar supply chain and, at full capacity, planned facilities will produce enough to…
German industry urges next government to ensure lower energy prices at EU and national level
German industry association BDI has called on the next government to focus on lowering energy prices at both the national and Euro…
ENERGY-HUB is a modern independent platformsharing news and analytic articles from the energy sector on a daily basis. Within our portfolio we monitor czech, slovak and foreign press releases.
