16 Jun '12, 2pm

MT @jschmidtnrdc: Phasing Out Fossil Fuel Subsidies Must Be A Major Outcome of #Rioplus20 via #endfossilfuelsubsidies

Nearly $1 trillion reasons to change course. Countries are spending around $1 trillion in subsidies for fossil fuels . This is 12 times more in subsidies than are being provided to renewable energy* (see figure). Given tight budget times and the need to address global warming, subsidizing activities that are heating the planet just doesn’t make sense. As Christine Lagarde the Head of the International Monetary Fund just said: “Many countries continue to subsidize polluting energy systems. These subsidies are costly for the budget and costly for the planet. Countries should reduce them. But in doing so, they must protect vulnerable groups by tightly focusing subsidies on products used by poorer people, and by strengthening social safety nets.” Countries must change course in Rio. Right now countries are meeting in Rio de Janeiro, Brazil to set the agenda for international a...

Full article: http://grist.org/article/phasing-out-fossil-fuel-subsidie...

Tweets

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on subsidies at #Rioplus20:

on subsidies at #Rioplus20:

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