G7 countries have pumped billions more into fossil fuels than support given to clean energy since the start of the pandemic, despite a commitment to a green recovery, according to ‘The Guardian’.
A recent study revealed on the eve of the G7 summit in the UK that participating nations have committed €154.75 billion to support fossil fuels (oil, coal and natural gas) between January 2020 and March this year.
By contrast, the same countries – the UK, US, Canada, Italy, France, Germany and Japan – spent €120.36 billion on clean forms of energy.
Support for fossil fuels from G7 members included measures to eliminate or decrease environmental regulations, as well as direct funding for oil, gas and coal.
Analysis carried out by Tearfund, the International Institute for Sustainable Development and the Overseas Development Institute showed that nations failed to seize the opportunities available to them to green their response to the pandemic.
In most cases, money provided to fossil fuel industries was allocated with no strings attached, not with conditions requiring a reduction in emissions or pollution.
