News / #subsidies
The G20 in Rio de Janeiro recommitted to tackling fossil fuel subsidies, but vulnerable communities need support.
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Amid escalating climate losses and no net zero goal in sight, a newly proposed Low Carbon Economy Investment Act and ambitious private sector-led initiatives only way for Philippine industries to decarbonise.
As declining oil output increases reliance on on foreign supply, the region’s oil import bill could exceed US$200 billion by 2050, posing major economic and energy security risks without a faster renewables shift, says the global energy authority.
As more countries mandate climate reporting, Global Commission on the Economics of Water co-chair Tharman Shanmugaratnam says improving water disclosures should not take as long as it did for carbon, and that “double materiality” is what counts.
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