2 ms·
Yes, forgive me, I'm talking worldwide. "A 2020 report by IRENA9 tracked some $634 billion in energy-sector subsidies in 2020, and found that around 70% went t
by Herz 2y ago
Yes, forgive me, I'm talking worldwide.
"A 2020 report by IRENA9 tracked some $634 billion in energy-sector subsidies in 2020, and found that around 70% went to fossil fuels. Only 20% went to renewable power generation, 6% to biofuels and just over 3% to nuclear. “This overwhelming imbalance of subsidies between fossil fuels and clean energy is a drag on us achieving the Paris climate goals,” says Taylor, who wrote the report. The balance of these numbers varies from year to year, because fossil-fuel subsidies swing around depending largely on the price of oil, he adds."
https://www.nature.com/articles/d41586-021-02847-2#:~:text=A%202020%20report,oil%2C%20he%20adds https://www.nature.com/articles/d41586-021-02847-2#:~:text=A...
Among other things, it is important to note that more than half of that money comes from the EU.
- oezi 2y agoThank you! Sounds plausible. China also spends a lot on subsidies for their solar industry (at least this is often mentioned).