Governments are continuing to hand out billions of dollars in climate-harming tax breaks and subsidies, directly working against the goals of the 2015 Paris climate agreement and the 2022 Kunming-Montreal agreement to halt biodiversity loss, The UK’s Guardian reported.
Research by the organisation Earth Track found a number of nations were providing direct support amounting to an estimated $2.6 trillion for deforestation work, water pollution and fossil fuel consumption, the story continued.
The report found that the annual total of environmentally harmful subsidies has increased by more than $800bn since the authors’ last analysis in 2022. Examples, the report went on, include state support for large fishing vessels that drive overfishing, and government policies that subsidise petrol, synthetic fertilisers and monoculture crop production.
“Two years on from the signing of the landmark biodiversity plan, we continue to finance our own extinction, putting people and our resilience at huge risk,” the UN’s former climate change head Christiana Figueres said.
Read the full story: The Guardian
- By Sean O’Meara
Also on AF:
Oil And Gas Sector Way Off Net Zero Track: S&P Global
Oil Nations Blocking COP29 Efforts on Fossil Fuel Phaseout – FT
Big Tech’s Real Data Centre Emissions 660% Higher – The Guardian
In a First, Top Bank Hands Out Loan For Carbon Removal Credits
Continuing Rise of Methane Emissions Worrying Top Scientists
