WASHINGTON - The fossil fuel industry benefits from subsidies of €9.5m every minute, reports the International Monetary Fund (IMF).
According to the international financial body, the production and use of coal, oil, and gas were subsidised by €5.1 trillion in 2020, with no one nation pricing all of its fuels high enough to reflect their full supply and environmental costs.
The subsidies, according to experts, are "adding gasoline to the fire."
