The fossil fuel epidemic stimulus package is getting a big boost



As governments spend billions of dollars to develop the world economy, they can seize the opportunity to accelerate the transition to clean energy. Countries say coal-fired power plants may have incentive funding for energy-efficient building retrofits.


But so far, after the 2008 financial crisis, recovery packages have been very supportive of fossil fuels. According to a new dataset of incentives compiled by more than a dozen meteorological research organizations, every dollar made for clean energy goes to 50 1.50 airlines, oil companies, and other fossil fuel-based industries.

Looking at the string associated with personal cash flows, the analysis of how far the world has come from a green recovery still provides a very detailed picture. There are no strings attached to unconditional fossil fuel financing; Conditional device means money is used when agreeing to a new emission target.

The $ 150 billion G20 countries are committed to renewing fossil fuels, creating only $ 30 billion in emission conditions. By comparison, only $ 88 billion has been allocated for energy incentives.

Much of that pure energy incentive actually comes with conditions; Areas such as electric vehicles are likely to contribute to emissions without additional regulation (for example, to ensure that they are capable of receiving energy from zero-carbon sources). The small pot of unconditional pure energy incentives goes to areas like solar and wind, which is clearly beneficial from a weather perspective.

Two-thirds of all fossil fuels tied to total cables come from the U.S., mostly in the form of bailout support for airlines. France's fossil fund is also largely related to the airline, but also to the emissions target. In China, almost all pure energy assistance comes in the form of electric vehicle subsidies.

Some precautions to remember: This analysis only counts money that is officially committed. The stimulus funds still under discussion are not included in the EU's $ 50,850 billion Green Recovery Plan.

Furthermore, the dollar volume is not always a good proxy for carbon emissions. In the case of climate damage, the dollar spent on coal will not necessarily be replaced by the dollar spent on solar, especially if the fossil fuel infrastructure is decades old. And the new analysis is for cost only, not for regulatory or policy changes. Measures such as quickly allowing China coal-fired power plants could help economic recovery or damage the climate.

Overseeing these incentives, which are spread across government agencies in nearly two dozen countries, is a very laborious task, which is guaranteed to be achieved only if recovery efforts continue. If you are interested, stay tuned to the new website EnergyPolicyTracker.org, where researchers from the Stockholm Environment Institute, Columbia University and other areas plan to file regular updates.

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