A new report shows that the US government provided about $6 billion annually in financial support to the oil, gas, and coal industries between 2013 and 2015. That's over four times the amount that went to clean energy, which received $1.3 billion.
ADVERTISEMENT
Oil, gas, and coal industries get a shocking amount of funding from the US government, a new report shows
The report shows how much support G20 countries give to fossil fuel industries. In the US, oil, gas and coal get over four times more funding than clean energy.
null
The report, grants, equity, loans, guarantees, and insurance from majority government-owned financial institutions— that various
fossil fuel financing from other G20 countries
“Our research shows that the G20 still hasn’t put its money where its mouth is when it comes to the clean energy transition," Alex Doukas, a senior campaigner at Oil Change International and one of the report’s authors, said in a press release.
ADVERTISEMENT
The environmental groups behind the report
"The Paris Agreement should lead policymakers to refocus public finance on energy savings and sustainable renewable energy, which actually offer effective solutions to our future energy challenges," Sebastien Godinot, an economist with the WWF European Policy Office, said in a statement.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
ADVERTISEMENT