Wealthy Nations' Fossil Fuel Subsidies Are Five Times Greater Than Climate Aid
December 4, 2012
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4:35Now PlayingWealthy Nations' Fossil Fuel Subsidies Are Five Times Greater Than Climate Aid
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A new report by Oil Change International has found wealthy nations are spending five times more money on fossil fuel subsidies than climate aid. In 2011 rich nations spent $58 billion on subsidies and just $11 billion for climate adaptation and mitigation in developing countries. According to the study, the United States spent $13 billion on fossil fuel subsidies in 2011 and just $2.5 billion in climate aid. We're joined by David Turnbull, Campaigns Director of Oil Change International.
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