Conversation

According to the International Monetary Fund (IMF) $7,000,000,000,000 were spent on direct and indirect subsidies for fossil fuels in 2022.

Government support for fossil fuels is equivalent to just over 7% of our planet's entire economic output.

By comparison, global education spending accounts for 4.3% of all GDP.

Cutting it could prevent 1.6M premature deaths per year and increase government revenues by $4.4 trillion.

https://www.statista.com/chart/31016/volume-of-global-fossil-fuel-subsidies-timeline/

#climatechange #fossilfuels #energytransition