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Tag: "imf"

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6.5% of global GDP spent subsidising fossil fuels, or $12m every minute

6.5% of global GDP spent subsidising fossil fuels, or $12m every minute

IMF says subsidies to global fossil fuel industry reached $A6.7 trillion in 2015 – or $A18 billion a day, or $A12 million a minute.

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Australia still subsidising fossil fuels at rate of $1,712 per person a year

Australia still subsidising fossil fuels at rate of $1,712 per person a year

IMF says fossil fuels subsidy reform ‘urgent as ever’, with countries like Australia still paying $1000+ per capita for them.

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Bill Shorten can make Tony Abbott look silly on carbon pricing

Bill Shorten can make Tony Abbott look silly on carbon pricing

New Labor leader Bill Shorten’s support for carbon pricing is actually a deft assault on Tony Abbott’s weak spot, his hard right flank. International pressure for market-based climate solutions is mounting, and Australia’s credibility hangs in the balance.

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Are there any major financial institutions that don’t want to act on climate?

Are there any major financial institutions that don’t want to act on climate?

If there is something the world’s major financial institutions can agree on, it’s that reducing carbon emissions can be good for the financial sector.