G20 countries pay over $1,000 per citizen in fossil fuel subsidies, says IMF

(guardian-, 4 Aug 2015) World’s leading economies still paying trillions in subsidies despite pledges to phase them out, new figures show.

Subsidies for fossil fuels amount to $1,000 (£640) a year for every citizen living in the G20 group of the world’s leading economies, despite the group’s pledge in 2009 to phase out support for coal, oil and gas.

New figures from the International Monetary Fund (IMF) show that the US, which hosted the G20 summit in 2009, gives $700bn a year in fossil fuel subsidies, equivalent to $2,180 for every American. President Barack Obama backed the phase out but has since overseen a steep rise in federal fossil fuel subsidies .

Australia hosted the most recent G20 summit, where prime minister Tony Abbott was forced to reaffirm the commitment to the phase out , but it still gives $1,260 per head in fossil fuel subsidies.