Jul 28, 2021, 20:49 pm
A new climate factbook released by BloombergNEF has criticized the policy actions of G20 members, and highlighted the significance of poorly directed fossil-fuel funding.
The Climate Policy Factbook published this month has monitored the progress made towards a low-carbon economy by G20 members, which include the EU alongside 19 of the world's biggest national economies.
The headline figure is that governments provided a reported $3.3 trillion of direct support for coal, oil and gas plus related fossil-fueled power for the period between 2015 and 2019. Considering 2021 prices, Bloomberg puts that sum as being able to fund 4,232 GW of new solar power plants.
That figure is listed as being more than 3.5 times the size of the U.S. grid, and close to 80 times more than the sum of total grid-connected solar installed in Germany, one of the world's leaders in PV.
The report lists Germany as investing $46 billion in fossil-fuel support in the 2015-2019 period – the same amount as the U.S. China, with $793 billion spent on fossil fuels, Saudi Arabia ($440 billion), and Russia ($406 billion), were listed as the largest supporters:
![[Image: 2.jpg]](https://i.ibb.co/NNLy4fd/2.jpg)
https://www.pv-magazine.com/2021/07/28/t...ys-prices/
The Climate Policy Factbook published this month has monitored the progress made towards a low-carbon economy by G20 members, which include the EU alongside 19 of the world's biggest national economies.
The headline figure is that governments provided a reported $3.3 trillion of direct support for coal, oil and gas plus related fossil-fueled power for the period between 2015 and 2019. Considering 2021 prices, Bloomberg puts that sum as being able to fund 4,232 GW of new solar power plants.
That figure is listed as being more than 3.5 times the size of the U.S. grid, and close to 80 times more than the sum of total grid-connected solar installed in Germany, one of the world's leaders in PV.
The report lists Germany as investing $46 billion in fossil-fuel support in the 2015-2019 period – the same amount as the U.S. China, with $793 billion spent on fossil fuels, Saudi Arabia ($440 billion), and Russia ($406 billion), were listed as the largest supporters:
https://www.pv-magazine.com/2021/07/28/t...ys-prices/