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Australian Greens Deputy Leader, Senator Larissa Waters, comments on the International Monetary Fund's estimate of global fossil fuel subsidies:

Australian Greens Deputy Leader, Senator Larissa Waters, comments on the International Monetary Fund's estimate of global fossil fuel subsidies:

"It's staggering that governments around the world are propping up the dying fossil fuel industry to the tune of $5.3 trillion each year.

"This equates to $10 million a minute every day of ordinary taxpayers' money being funnelled into worsening climate change.

"Governments could be investing that money into reducing poverty, instead of propping up big mining companies and holding up the transition to renewable energy.

"In Australia, the Greens' costed policy shows getting rid of subsidies for big mining companies to buy cheap fuel would save more than $10 billion.

"We would invest that money in achieving a cleaner, more caring society, with funding for health, education and transitioning to clean energy.

"Australia has an opportunity to be a global leader in ending fossil fuel subsidies, but instead the two big parties have ganged up to brown down the Renewable Energy Target," Senator Waters said.

Report: http://www.imf.org/external/pubs/cat/longres.aspx?sk=42940.0

 

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