IEA reveals fossil fuel subsidies top $550bn

clock • 2 min read

Report warns kick-backs for fossil fuels are skewing energy markets and holding back renewables investment

The global fossil fuel industry currently enjoys subsidies worth more than $550bn (£382bn) a year, according to a major new report from the International Energy Agency (IEA) that will increase pressure...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

Author spotlight

Andrew Donoghue

View profile
More from Andrew Donoghue

Clock ticking for CRC laggards

Climate policy hangs in balance as Australians go to the polls

More on Energy

Global Briefing: China's CO2 emissions fall despite coal generation rebound
Energy

Global Briefing: China's CO2 emissions fall despite coal generation rebound

Falling oil consumption cuts China's Q2 carbon emissions, US and UK to chart 'Pink Corridor' for nuclear-powered shipping, and Spain pushes for oil and gas tax to fund climate adaptation

BusinessGreen staff
BusinessGreen staff
clock 04 September 2026 • 9 min read
Reports: Government poised to approve Jackdaw gas project
Energy

Reports: Government poised to approve Jackdaw gas project

BBC reports Number 10 is expected to give green light to controversial project within weeks, sparking fresh questions over how increased emissions will fit into UK carbon budgets

James Murray
James Murray
clock 04 September 2026 • 4 min read
Study: Summer 2026 heatwaves cost UK hospitality sector £95m a year in extra energy
Energy

Study: Summer 2026 heatwaves cost UK hospitality sector £95m a year in extra energy

Pubs, bars, restaurants and food providers paid £680 more per month on average for their energy as they ramped up air conditioning during the UK's record-breaking heatwaves this summer, Zero Carbon Company finds

Amber Rolt
clock 02 September 2026 • 3 min read