"IMF Managing Director Kristalina Georgieva said that countries need to shift some $7 trillion in direct and indirect annual subsidies for fossil fuels to help finance the fight against #ClimateChange.
Georgieva told the World Economic Forum that the total #FossilFuelSubsidies include $1.3 trillion in direct government subsidies as well as indirect subsidies that include failure to price carbon emissions, adding that this price needs to be set at $85 per ton by 2030."
The IMF is not exactly a ragged bunch of radicals. And its head is saying that the world is wasting 7 trillion dollars every year on fossil fuels, and calling for that money to be re-directed to, you know, saving the planet.
Think what you can do for the energy transition - a just one, even - with that kind of money.
Seven Trillion Dollars.
We really need to stop throwing it at the planet wreckers.
Yes, and more fundamentally: the whole world can be fed.
I used to worry about the carrying capacity of the planet's food system -- until I learned that 40% of the US corn crop goes into making gasoline additives. Same for sugar cane in Brazil, and in India.
There's enough land to feed everyone.
There's not enough land to feed everyone's cars.
hear, hear! yes, absolutely. "stop throwing money at the planet wreckers." think about it. we are the generation of humans who will either change course or be blamed for the extinction of life on Earth...
@CelloMomOnCars "A healthy transition will require strong and scientific public stewardship. "A portion of the increased revenues should be used to compensate vulnerable households for higher energy prices. The remainder could be used to cut taxes on work and investment and fund public goods such as education, healthcare, and clean energy." https://c.im/@GDS/111777337550635237
@CelloMomOnCars
As i read the Reuters piece, there is no link to the actual text, and no way to know what that 7 trillion is
the reuters piece does say indirect, so we don't know how much of that can actually be saved
It's in there:
"Georgieva told the World Economic Forum in Davos, Switzerland that the total fossil fuel subsidies include $1.3 trillion in direct government subsidies as well as indirect subsidies that include failure to price carbon emissions, adding that this price needs to be set at $85 per ton by 2030."
We're going to pay for the healthcare costs from e.g. air pollution but the $ 1.3 tn can be saved right now.
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