In their efforts to mitigate the economic consequences of the Covid-19 pandemic, the G20 countries are devoting a significant share of aid to fossil fuel industries without imposing climate-related conditions upon them, thereby jeopardising the possibilities of expanding “clean ” energy use over the coming decade, according to a report published on Wednesday 18 November by Climate Transparency, an international partnership of climate research organisations and NGOs.
According to the report, the G20 countries (except Saudi Arabia, Turkey and the United Kingdom) have notably granted $130 billion in subsidies to fossil fuels in 2019, compared to $117 billion in 2018.
While the energy-related CO2 emissions of G20 countries decreased by 0.1% in 2019 (the first reduction achieved through climate policies and not due to an external shock, Climate Transparency fears that emissions will rebound if these countries do not redirect their subsidies.
Emissions from transport (+1.5%) and industry (+1.2%) have also continued to grow.
As far as the European Union is concerned, the report notes that the EU, together with France and Germany, are among those G20 members who, generally speaking, create “a good example for building more resilient economies”.
However, the EU is not yet on track to limit global warming to +1.5°C, the document says, noting in particular the risk of carbon lock-in due to the use of natural gas.
See the report: https://bit.ly/3pIm57w (See original version in French by Damien Genicot)