A report has shown the amount of money G7 countries are investing to prop up coal, oil and gas production, and consumption. This report was released by the Overseas Development Institute.
The world's biggest economies have vowed to eradicate fossil fuels, even though they are spending around $100 billion every year in subsidies for fossil fuels. Every year, the U.S. subsidizes its fossil fuels to the tune of $27.4 billion.
Just ahead of Italy's $17.9 billion, Germany has made great strides in clean energy, it pumps $18.6 billion into fossil fuels every year. It includes both Fiscal support and Public Finance.
The Annual subsidies for fossil fuels in G7 Countries are as follows:
$27.4b - United States
$18.6b - Germany
$17.9b - Italy
$12.5b - Japan
$11.0b - United Kingdom
$8.0b - France
$4.7b - Canada
Image source: https://www.statista.com/chart/14175/fossil-fuel-phase-out_-g7-countries-have-work-to-do/
Image license: CC-BY-ND