Study: Wealthy Nations’ Fossil Fuel Subsidies 5 Times Greater Than Climate Aid to Countries in Need
From Democracy Now:
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.
snip* Today we’re joined by David Turnbull, campaigns director of Oil Change International, the former director at Climate Action Network.
Welcome to Democracy Now! Talk about this report. And what exactly does "climate aid" mean?
DAVID TURNBULL: Well, so, you know, in the halls here in Doha, where the negotiators are talking about how they can help to support developing countries adapt and act on climate change—and what we found is that that support is really lacking. Developing countries are in need of at least $100 billion per year in 2020. And what we’re seeing is that fossil fuel subsidies from the rich countries that could help support that need for adaptation and mitigation efforts, the developed countries are supporting fossil fuel subsidies at five times the rate of the climate finance.