IEA: $550bn fossil fuel handout is stalling clean energy progress

Will Nichols
clock

Landmark report says subsidies are four time those received by renewables and warns energy system is struggling under the strain of rising demand

Global fossil fuel subsidies are four times higher than those for clean energy and are "holding back investment" in both renewables and energy efficiency, the International Energy Agency (IEA) will warn...

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech developments
  • Stay in the know with our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Tap into our extensive archive of exclusive articles, news, analysis and guides
  • Access our Intelligence Reports and exclusive data-rich studies on business-critical aspects of the green economy (BG Advanced members only)
  • Choose from 3 paid membership levels or start a 7-day no strings trial

Join nowTry 7 day trial

 

Already a BusinessGreen member?

Login

More on Energy

Credit: iStock

Coca-Cola bottler unveils sustainability-linked finance scheme for its suppliers

Coca-Cola Europacific Partners teams up with Rabobank on scheme designed to push its supply chain to improve ESG performance

clock 19 August 2022 • 3 min read
War in Ukraine has severely disrupted global food supply chains | Credit: iStock

'State of high risk': Climate change set to exacerbate looming global food crisis, McKinsey warns

Consulting giant warns war in Ukraine, lingering Covid-driven supply issues, and heat waves and droughts cold leave world short of 60 million tonnes of grain by end of 2023

Cecilia Keating
clock 18 August 2022 • 3 min read
The rate of solar additions will continue to rise next year, according to the IEA | Credit iStock

Green energy transition: Why analysts are calling for governments to go 'beyond market economics'

Renewable power is set to dominate European power generation this decade, but significantly more policy momentum is required to boost wind, solar and hydro’s share of primary demand, analysis finds

Cecilia Keating
clock 18 August 2022 • 5 min read