24 Sep '16, 8am

'G20, United States and China sign Paris climate treaty, fail to revoke $5 trillion in subsidies given to Big Oil'

A group of multi-national insurance companies called on the G20 conference to “kick away the carbon crutches” and end fossil fuel subsidies by 2020. Combined, the insurers have assets of $1.2 trillion. Mark Wilson, CEO of Aviva, one of the largest insurance companies, told the group, “Climate change in particular represents the mother of all risks – to business and to society as a whole. And that risk is magnified by the way in which fossil fuel subsidies distort the energy market. These subsidies are simply unsustainable.”

Full article: http://gas2.org/2016/09/07/good-news-bad-news-g20-confere...

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