G-20 nations provided $693 billion in support for coal, fossil fuels in 2021 — report

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The Climate Policy Factbook evaluates the progress made by each G-20 nation in three main policy areas: phasing out support for fossil fuels, putting a price on emissions, and enforcing climate-risk disclosure.

The report aims to increase transparency and inform policy priorities ahead of the G-20 Summit in Indonesia and COP27 climate conference in Egypt, where much of the discussion will focus on how to realize the many pledges and targets announced at COP26 in Glasgow a year ago.

“Governments continue to subsidize fossil fuels – undermining the pledges they’ve made, harming public health, and shrinking our chances of avoiding the worst impacts of climate change,” Michael R. Bloomberg, UN Secretary-General’s Special Envoy on Climate Ambition and Solutions and founder of Bloomberg LP and Bloomberg Philanthropies, said.

“We need to dramatically speed up the shift to clean energy and away from coal and other fossil fuels,…

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