Author: Patrick Greenfield

The world is spending trillions of dollars on subsidies that contribute to global heating and harm nature, a new analysis reveals. Governments are providing financial support for activities that go against climate and biodiversity goals, such as deforestation, water pollution, and fossil fuel consumption. The report by Earth Track shows that environmentally harmful subsidies have increased by over $800 billion since 2022, with a sharp rise in fossil fuel subsidies due to the war in Ukraine. Christiana Figueres, former UN climate change head, emphasizes the urgency of addressing these subsidies, which threaten our resilience and ability to meet climate and…