Media Coverage

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Recent news coverage about IISD

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Spending on global fossil fuel subsidies in 2022 shattered all-time records – Report

According to a new report, 2022 saw record-shattering spending on fossil fuel subsidies as some parts of the world face devastating climate impacts. Though the sharp uptick in subsidies was driven by a response to the energy crisis, authors of the report highlighted that fossil fuel subsidies be redirected to welfare and those who need it most.

IISD in the news

Daily Maverick

August 25, 2023

Fossil fuel subsidies hit $1.3 trillion despite government pledges to end them

Despite repeated government pledges to cut back on fossil fuel subsidies, a new report found such subsidies surged to a record $1.3 trillion last year. The report by the International Monetary Fund (IMF) looked at both explicit and implicit subsidies for fossil fuels across 170 countries. The findings dovetail with a report that came out earlier in the week by the International Institute for Sustainable Development (IISD), a Canada-based think tank, which found that public monies in G-20 countries alone going to explicit fossil fuel subsidies more than quadrupled to $1 trillion in 2022 compared to a year ago.

IISD in the news

Bloomberg

August 24, 2023

G20 nations spent record money on fossil fuel subsidies in 2022: Report

Despite promises made at the Cop26 climate summit in Glasgow to reduce fossil fuel subsidies, a report has shown that G20 nations poured a record €1.3 trillion into the fossil fuel industry in 2022.

IISD in the news

RFI (Radio France Internationale)

August 24, 2023

G20 Countries Spent a Record $ 1.4 Trillion on Fossil Fuels in 2022: Report

Last year, G20 countries supported fossil fuels in a big way. In 2022, they spent a record US $ 1.4 trillion–more than double the pre-COVID and pre-energy crisis levels of 2019–on fossil fuels, per a report released on August 23 by the International Institute for Sustainable Development, an international think tank.

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The Wire

August 24, 2023

G20 spent record US$1.4 trillion on fossil fuels in 2022 despite climate change pledges: Report

G20 member nations last year provided a record US$1.4 trillion–more than double that of pre-Covid levels–to support fossil fuels that have fanned global warming, a report has revealed, despite previous pledges to phase out subsidies.

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South China Morning Post

August 24, 2023

G20 countries spent record $1.4 trillion to support coal, oil, gas: Research

After almost 14 years of committing to phase out fossil fuels, the G20 members spent a whopping $1.4 trillion in public money to support fossil fuels in 2022.

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The Times of India

August 24, 2023

Staggering $1.4 Trillion: G20 Nations' Fossil Fuel Support Exposed In IISD Report Ahead Of Leaders' Summit

As the G20 Leaders' Summit approaches in September, a groundbreaking report has unveiled startling figures: G20 member nations allocated a staggering $1.4 trillion last year to prop up fossil fuels. Released on Wednesday, the report titled "Fanning the Flames: G20 provides record financial support for fossil fuels" by the International Institute for Sustainable Development (IISD) has raised concerns over the dissonance between climate commitments and financial decisions.

IISD in the news

Ten News

August 24, 2023

Rich countries breach climate promises, increase fossil fuel spending

The world's richest countries breached their self-proclaimed climate commitment to limit fossil fuel investments and spent a record $1.4 trillion in subsidies on coal, oil and gas in 2022. According to the International Institute for Sustainable Development (IISD), the G20 broke a unified agreement reached at a climate summit in Glasgow in 2021 to phase out "inefficient" fossil fuel subsidies.

IISD in the news

Al Mayadeen

August 23, 2023

Climate concerns: G20 nations poured $1.4 trillion into fossil fuels in 2022

A recently published report suggests that redirecting fossil fuel subsidies from G20 countries towards investing in renewable energy sources can have a multifaceted impact. Not only would it contribute to combating climate change, but it could also address pressing global issues like hunger, energy access, and environmental pollution.

IISD in the news

Ground Report

August 23, 2023

G20 poured record levels of public money into fossil fuels in 2022: Report

G20 members provided a record $1.4 trillion in public money to support fossil fuels in 2022, according to the study "Fanning the Flames: G20 Provides Record Financial Support for Fossil Fuels" by the International Institute for Sustainable Development (IISD) and partners.

IISD in the news

The Hans India

August 23, 2023

G20 nations spent record money on fossil fuel subsidies in 2022 despite Glasgow pledges

Even as world leaders talk big about tackling climate change by reducing reliance on non-renewable energy, a new report has revealed the world’s largest 20 economies spent a record amount of money on burning fossil fuels last year. G20 nations spent a whopping $1.4 trillion on coal, oil and gas in 2022, the International Institute for Sustainable Development (IISD) think tank revealed in its report.

IISD in the news

WION

August 23, 2023

G20 countries spent more than £1.1tn on fossil fuel subsidies after Ukraine war

At COP26 in 2021, member countries agreed to accelerate "the phase-out of unabated coal power and of inefficient subsidies for fossil fuels" in a bid to slow climate change. But according to the think tank International Institute for Sustainable Development (IISD), subsidies the following year from G20 countries reached $1tn–over four times the amount provided in 2021.

IISD in the news

E&T

August 23, 2023

G20 Nations Dished Out at Least $1 Trillion in Fossil Fuel Subsidies in 2022: Analysis

An analysis released this week by the International Institute for Sustainable Development shows that G20 countries spent at least $1 trillion on fossil fuel subsidies in 2022, running afoul of recent pledges to curb financial support for the sector most responsible for the global climate emergency.

IISD in the news

Common Dreams

August 23, 2023

G20 countries spent record $1.4 trillion to support fossil fuels last year; more than double of 2019

Ahead of the G20 Leaders' Summit in September, a report has found that G20 member countries spent $1.4 trillion last year to support fossil fuels. The report titled "Fanning the Flames: G20 provides record financial support for fossil fuels" by International Institute for Sustainable Development (IISD), released on Wednesday, found that G20 members spent $1.4 trillion public money to support fossil fuels—more than double the pre-Covid-19 and pre-energy crisis spends, as recently as in 2019.

IISD in the news

Hindustan Times

August 23, 2023

G20 spent a record $1.4 trillion on fossil fuels in 2022, report says

The world's biggest economies, the G20, provided a record U.S.$1.4 trillion in public money for fossil fuels in 2022 despite the promise to reduce spending, a new study by a think tank said. "The 2022 energy price crisis, brought about by Russia’s invasion of Ukraine, has catapulted public financial support for fossil fuels to new levels," said the International Institute for Sustainable Development, or IISD, in its analysis, Fanning the Flames, released on Wednesday.

IISD in the news

Radio Free Asia

August 23, 2023

The G20 pledged to end fossil fuel subsidies in 2021—and then quadrupled them in 2022

The G20 countries aren’t walking the walk to match their talk about reducing fossil fuel subsidies. Quite the opposite, in fact. The volume of public money flowing into coal, oil, and gas in the world's 20 biggest economies hit a record $1.4 trillion in 2022, a new report by International Institute for Sustainable Development (IISD) revealed. Of this, a trillion went towards all sorts of subsidies—mostly for consumers.

IISD in the news

Quartz

August 23, 2023

L'explosion des subventions aux énergies fossiles

Selon un rapport publié mercredi de l'Institut international du développement durable (IISD), un laboratoire d'idées dont le siège est au Canada, mais qui possède une antenne à Genève, les énergies fossiles continuent de bénéficier d'un soutien public considérable au sein du G20. Les pays membres avaient pourtant promis de progressivement mettre fin aux subventions des énergies fossiles en 2009 déjà à Pittsburgh. Lors de la COP26 de Glasgow en 2021, ils avaient réitéré, aux côtés des autres Etats de la planète, le besoin «d'accélérer la suppression de subventions inefficaces des énergies fossiles». A l'approche du sommet du G20 qui se tiendra à New Delhi les 9 et 10 septembre et à deux mois de la COP28 à Dubaï, les promesses n'ont donc pas été tenues.

IISD in the news

Le Temps

August 23, 2023

G20 Nations Invested Record $1.4 Trillion Into Fossil Fuels in 2022, Report Says

During last year's energy crisis, when prices soared due to Russia's invasion of Ukraine, the Group of 20 (G20) nations provided $1.4 trillion to boost energy supplies and keep prices from climbing even higher, according to the thinktank International Institute for Sustainable Development (IISD).

IISD in the news

EcoWatch

August 23, 2023

Climate concerns: Ahead of G20 Summit, study says bloc poured $1.4 trillion into fossil fuels in 2022

G20 countries allocated a staggering $1.4 trillion of public funds to support fossil fuels in 2022, aiming to counter the impact of their soaring prices due to the Ukraine war and strengthen energy reserves, a new study has said.

IISD in the news

ETEnergyWorld

August 23, 2023

G20 poured more than $1tn into fossil fuel subsidies despite Cop26 pledges: Report

The G20 poured record levels of public money into fossil fuels last year despite having promised to reduce some of it, a report has found. The amount of public money flowing into coal, oil and gas in 20 of the world’s biggest economies reached a record $1.4tn(£1.1tn) in 2022, according to the International Institute for Sustainable Development (IISD) thinktank, even though world leaders agreed to phase out "inefficient" fossil fuel subsidies at the Cop26 climate summit in Glasgow two years ago.

IISD in the news

The Guardian

August 23, 2023