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Shifting Subsidies to Renewable Energy Instead of Propping Up Fossil Fuel Giants Would Prompt ‘Clean Energy Revolution’, Study Shows


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"What we are doing is using taxpayers' money to boost hurricanes, to spread droughts, to melt glaciers, to bleach corals. In one word: to destroy the world."

by Julia Conley, staff writer

A new report by the International Institute for Sustainable Development (IISD) showed that if just 10 to 30 percent of the annual coal, oil, and gas subsidies were given to the renewable energy sector instead, the world could see a prompt reduction of fossil fuel emissions by nearly 20 percent. (Photo: Danicek/Shutterstock)

After two Democratic candidates in this week's presidential primary debates called for an end to government subsidies for fossil fuel companies, a new study revealed that even reducing those subsidies—as the world's wealthiest countries pledged to a decade ago—would kick-start "clean energy revolution.

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Posted by on Aug 18 2019. Filed under Renewable energy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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