Australia’s fossil fuel subsidies dwarf coronavirus relief

Climate Economy

Australia’s fossil fuel subsidies dwarf coronavirus relief

Australia spends $470,000 per fossil-fuel job, but eight out of ten of its largest fuel producers pay no taxes As emergency stimulus packages are being developed around the world to address the coronavirus economic crisis, Australia’s Climate Justice Project at the University of New South Wales decided to take a look at the amount the Australian government regularly pays in subsidies to the fossil fuel industry. Based on information from the International Monetary Fund (IMF) the Project found that the government provides an eye-popping $30 billion in subsidies per year…

Thank you for reading Climate & Capital Media

Create your free account to continue reading this article

Climate & Capital Media is a global media organization that promotes the broad exchange of information about the business and finance of climate change. We’re committed to informing and motivating leaders to take bold action to build a sustainable and just economy.

Don't have an account? Register now!