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15 Jul 20201 minute read

G20 spending more on fossil fuels

ECAtoday
G20 spending more on fossil fuels

New data released by Energy Policy Tracker has revealed that governments of the G20 countries are, on the whole, spending more to help fossil fuel industries recover from the pandemic than on low-carbon industries.

The report says that nearly £120bn of bailout cash has been spent or earmarked so far to support fossil fuels by the G20 group of large economies. Around £71bn has been dedicated to green energy.

The Guardian reports that some of the spending on fossil fuels is likely to be designed to quickly stabilise hard-hit industries, preserving jobs and preventing a worse recession.

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