Commission must tackle fossil fuel subsidies

Commission must tackle fossil fuel subsidies

Green Budget Europe Director James Nix writes in Euractiv: There is a growing global awareness of the real cost of fossil fuels. Last week, the International Monetary Fund (IMF) estimated that global fossil fuels subsidies will reach $5.3 trillion in 2015 (6.5% of the global GDP). The IMF study shows coal and oil to be the most heavily subsidised energy sources. In addition to encouraging CO2 emissions, these subsidies raise air […]