G20 - Energy Policy Tracker

[Mark]

https://www.energypolicytracker.org/region/g20/

Of the Covid-19 recovery funding allocated to energy companies by G20 governments, 56% has been handed to fossil fuel projects, equivalent to $151bn (£119bn).

The data reveals that G20 nations have spent at least $120.5bn (£95.5bn) providing unconditional support for fossil fuel firms since Covid-19 was declared a pandemic in March. The largest contributor to this sum is the US, which has provided $58.1bn (£46.1bn) alone. A further $30.25bn (£24bn) has been provided on a conditional basis, the majority of which was allocated by France.

When both unconditional and conditional support is accounted for, the G20 has spent $32.89 (£26.11) per capital bailing out the fossil fuel sector. In comparison, the per capita spend on support for low-carbon energy generation and energy efficiency to date is $19.33 (£15.34).

Regarding the UK specifically, Ministers have confirmed $13.38bn (£10.6bn) for the low-carbon energy generation and energy efficiency sectors. The majority of this funding has been allocated unconditionally, including the Treasury’s £3bn energy efficiency programme announced last week.

Nonetheless, Whitehall has provided $4.84bn (£3.8bn) of unconditional support for the fossil fuel sector – more than Italy, Mexico, Turkey, Australia, Russia and South Africa.

[stumuz1]

Interesting.

Thank you.

[vtsnowedin]

Considering how many are employed by the fossil fuel industry and how many are dependent on its production vs, how many are employed or rely on alternative sources what division of the funds do you think would be appropriate and do the most good?