Despite Paris accord, G-20 countries invest four times as much in fossil fuels as green energy

The biggest critics of President Trump’s decision to withdraw from the Paris climate accord are also the world’s biggest hypocrites on energy policy, top environmental groups charged Wednesday in a report that found many top nations’ rhetoric on cutting emissions doesn’t line up with how and where they spend their money.

The study examined Group of 20 member countries and was released a day before Mr. Trump arrived in Germany for meetings with other members of the key international group, with energy and climate change expected to be at the top of the agenda.

The key finding: The G-20 nations spend roughly four times as much in public financing for fossil fuels as they do supporting renewable energy sources such as wind and solar. The report examines loans, grants, guarantees, insurance and other types of public finance offered either by the governments, government-owned financial institutions, and credit agencies, and multilateral groups made up of G-20 countries.

From 2013 to 2015, the G-20 nations spent $71.8 billion annually supporting fossil fuels, the study said, compared with $18.7 billion each year on direct support for clean energy such as solar, wind, geothermal or hydropower. Most of the fossil fuels money went to oil and gas exploration, but some also went to coal, which critics say is the dirtiest-burning fuel and the greatest driver of the greenhouse gas pollution that the Paris treaty was supposed to address.

“Our research shows that the G-20 still hasn’t put its money where its mouth is when it comes to the clean energy transition. If other G-20 governments are serious about standing up to Trump’s climate denial and meeting their commitments under the Paris agreement, they need to stop propping up the outdated fossil fuel industry with public money,” said Alex Doukas, a senior campaigner at Oil Change International, one of the groups that authored the study.

The Sierra Club, Friends of the Earth and the World Wildlife Fund’s European office also were a part of the project.

On its surface, the report would seem to give credence to the argument that the Paris accord doesn’t ask much from other nations. Mr. Trump made that argument — along with putting America’s economy first — the centerpiece of his rationale for leaving the deal last month.

Indeed, environmentalists now say the same nations that have criticized Mr. Trump’s decision aren’t doing their part either.

In fact, the most outspoken opponents of Mr. Trump’s decision to pull the U.S. from the Paris deal — which included a pledge by President Obama to cut U.S. greenhouse gas emissions by at least 26 percent by 2025 — are some of the worst offenders.

Within hours of Mr. Trump’s announcement on June 1, the leaders of Germany, Italy, and France issued a joint statement castigating the U.S. and saying the Paris pact is non-negotiable. They said the Trump administration should not try to revamp the deal in order to secure more favorable terms.

“We firmly believe that the Paris agreement cannot be renegotiated,” the three heads of state said in a joint statement, expressing “regret” with the course Mr. Trump chose.

Words and deeds

But two of those countries are hardly backing up their harsh words with action.

Germany supplied $3.5 billion annually in public finance for fossil fuels from 2013 to 2015, compared with $2.4 billion annually for clean energy, according to the study. Italy funneled $2.1 billion toward fossil fuels, compared with $123 million annually for clean energy.

Canada, another vocal critic, directed $3 billion annually in public finance for oil, gas, and coal from 2013 to 2015 while putting $171 million annually toward clean energy.

China, the world’s top polluter, provided $13.5 billion annually for fossil fuel financing compared with less than $85 million annually for clean energy.

France directed more money toward renewable energy than fossil fuels, making it a notable exception to the broader trend.

France aside, green groups say the hypocrisy is striking.

“These countries have been talking out of both sides of their mouths,” said Nicole Ghio, a senior international campaign representative at the Sierra Club. “It’s unconscionable that any nation would continue to waste public funds on fossil fuels when clean energy sources like wind and solar are not only readily available but are more cost-effective and healthier for families and communities across the globe. It is past time for G-20 nations to stop subsidizing fossil fuels once and for all.”

Read more at Washington Times

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    Spurwing Plover


    Take a good look at the many leaders and supporters of these eco-wacko groups the HQ of many enviromentalists group still uses electricity and water and even while their demanding we all live as one with the earth they still live their luxeroius lifestyle of the pampred and spoiled

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