IMF tots up world’s fossil fuel subsidies at $2trillion

The world’s subsidies for fossil fuels have hit $1.9trillion (£1.2tn), according to a study by the International Monetary Fund. That’s the equivalent of 2.5% of global GDP or 8% of government revenues, found the study, which included estimates of energy subsidies currently available for 176 countries. Energy subsidies are concentrated mostly in the Middle East […]