LONDON (Thomson Reuters Foundation) – The world’s major industrial democracies spend at least $100 billion each year to prop up oil, gas and coal consumption, despite vows to end fossil fuel subsidies by 2025, a report said yesterday ahead of the G7 summit in Canada.
Britain, Canada, France, Germany, Italy, Japan and the United States – known as the Group of Seven (G7) – pledged in 2016 to phase out their support for fossil fuels by 2025.
But a study led by Britain’s Overseas Development Insitute (ODI) found they spent at least $100 billion a year to support fossil fuels at home and abroad in 2015 and 2016.
“Governments often say they have no public resources to support the clean energy transition,” the study’s lead author Shelagh Whitley told the Thomson Reuters Foundation.
“What we’re trying to do is highlight that those resources are there (but) it is being used inefficiently.
“The G7 have pledged to phase out fossil fuel subsidies, but they don’t have any systems in terms of accountability to meet the pledges – they don’t have road maps or plans,” added Ms Whitley, head of the ODI’s climate division.
Researchers scrutinised and scored each country against indicators such as transparency, pledges and commitments, as well as their progress towards ending the use, support and production of fossil fuels.
France was ranked the highest overall, scoring 63 out of 100 points, followed by Germany (62), Canada (54) and the UK (47), the report said.
The United States scored lowest with 42 out of 100 points due to its support for fossil fuel production and its withdrawal from a 2015 global pact to fight climate change.
President Donald Trump announced a year ago he was ditching the deal agreed upon by nearly 200 countries over opposition from businesses and US allies.
The 2015 Paris agreement committed nations to curbing greenhouse emissions and keeping the global hike in temperatures “well below” 2 degrees Celsius (3.6 Fahrenheit) above pre-industrial times.
