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Americas

Fossil Fuel Subsidies Outstrip Renewables Support

Government funding at odds with climate ambitions, warns Allianz, outlining need for holistic ‘just transition’ policies.

While fossil fuel subsidies have been declining at the global level, the trend is not nearly sufficient to reach climate ambitions, according to a study by Allianz and credit insurance subsidiary Euler Hermes. As of 2019, the total value of fossil fuel subsidies in 81 countries studied was US$468 billion,…

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