Cut fossil fuel subsidies to curb climate change–and poverty? - ALERTNET

Cut fossil fuel subsidies to curb climate change–and poverty?

Are fossil fuel subsidies undermining progress toward a greener, more climate-resilient global economy – and one that more effectively fights poverty?Governments each year spend around half a trillion dollars on fossil fuel subsidies – a huge expense that pulls investment away from other budget priorities that might more directly help the poor, including education, healthcare and infrastructure. Egypt, Indonesia, Pakistan and Venezuela each spend at least twice as much on fossil fuel subsidies as on public health, and studies show the subsidies disproportionately benefit the rich around the world, as well as making it harder for renewable energy to find support and funding. Is it time to reduce or eliminate them? How might that happen, and how could the political obstacles be overcome? Our experts take your questions.

Powered by ScribbleLive Content Marketing Software Platform