Every minute, about US$ 11 million in subsidies go to the coal, oil and natural gas industry, according to the International Monetary Fund (IMF). In 2020, fossil fuels received a total of US$ 5,9 trillion, about 6.8% of all world GDP.
According to the report, by 2025, incentives for the fossil fuel industry could reach 7.4% of world GDP, despite campaigns to renew the global energy matrix and government incentive packages released during the pandemic.
Without clear paths for the decarbonization of the economy, as well as efficient methods of measuring emissions and the advancement of more sustainable models, the risk for future generations persists. The delay in investments deepens the unsustainable relationship between international trade and the pollution and destruction of biodiversity.
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