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'Criminally Insane': Subsidies That Harm the Environment Reach $2.6 Trillion Per Year

19 Sep 2024 | Abstracted from Common Dreams

"...the research group Earth Track...found that harmful fossil fuel subsidies top $1 trillion annually and harmful agricultural subsidies top $600 billion...The $2.6 trillion total, which the report authors said was likely an underestimate...International Monetary Fund working paper last year estimated that fossil fuel subsidies alone amount to $7 trillion annually.

"It is the combined effect of subsidies to these sectors that compound to drive loss of nature and biodiversity resources."

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