“G20 countries aim their pandemic bailout spending at fossil fuel industries, leaving Paris climate change targets in doubt”.
“Governments are spending vastly more in support of fossil fuels than on low-carbon energy in rescue packages triggered by the coronavirus crisis, new data has shown, despite rhetoric from many countries in support of a “green recovery”.
Data from the Energy Policy Tracker, a new research effort by several civil society groups, shows that at least $151bn (£120bn) of bailout cash has been spent or earmarked so far to support fossil fuels by the G20 group of large economies. Only about a fifth of this spending is conditional on environmental requirements such as reducing greenhouse gas emissions or cleaning up pollution.
The G20 countries are directing about $89bn (£71bn) in stimulus spending to clean energy, despite most of those governments being publicly committed to the Paris agreement on climate change.”