Fossil fuels subsidies are worth $5.3 trillion

$5.3 trillion (or 4.7 trillion euros) : those are staggering figures as they amount to $10 million every single minute. The figures come from the International Monetary Fund, so one can be pretty sure of them. 

Carbon tax endorsed by IMF and OECD

We have seen it quite a few times in the previous months : taxing carbon is a good idea as it already works in Australia, Ireland and British Columbia. Emissions reductions have been quite noticeable in all cases. As a result, more countries will follow suit, such as the People’s Republic of China, South Africa… Continue reading Carbon tax endorsed by IMF and OECD

Global fossil fuels subsidies total $1.9 Trillion

Yes, you read that right. According to a new report from the International Monetary Fund, governments around the world are giving in direct and indirect aids up to 1,900 billion USD ( 1,500 billion euros ) to fossil fuels subsidies each year. This total to 2.5 percent of global GDP. More importantly, ending those subsidies… Continue reading Global fossil fuels subsidies total $1.9 Trillion