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Global spending on subsidies that harm environment rises to $2.6tn, report says
Exclusive: analysis finds $800bn increase in direct support for activities including deforestation and fossil fuel use
The world is spending at least $2.6tn (£2tn) a year on subsidies that drive global heating and destroy nature, according to new analysis.
Governments continue to provide billions of dollars in tax breaks, subsidies and other spending that directly work against the goals of the 2015 Paris climate agreement and the 2022 Kunming-Montreal agreement to halt biodiversity loss, the research from the organisation Earth Track found, with countries providing direct support for deforestation, water pollution and fossil fuel consumption.
Continue reading...Fossil fuel companies sponsor $5.6bn in global ‘sportswashing’ deals
Thinktank says funding from oil and gas firms is attempt to ‘divert attention from their role in fuelling the climate crisis’
Fossil fuel companies pumped at least $5.6bn (£4.2bn) of sponsorship money into motorsports, football, golf and even snow sports in an effort to “buy social licence to operate”, according to a new report.
Almost no major spectator sport remains untouched by oil and gas money, according to research carried out by the New Weather Institute (NWI), a climate thinktank, which traced more than 200 sponsorship deals between sports teams and the industry.
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