Governments pledged to end fossil fuel subsidies. Instead, they've doubled down, as subsidies hit record $1.3 trillion

Governments pledged to end fossil fuel subsidies. Instead, they've doubled down, as subsidies hit record $1.3 trillion

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Despite repeated government pledges to cut back on fossil fuel subsidies, a new report found such subsidies surged to a record $1.3 trillion last year. The report by the International Monetary Fund (IMF) looked at both explicit and implicit subsidies for fossil fuels across 170 countries. It found…

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