President Obama pushes G20 to cut fossil fuel subsidies.

摘要

US president Barack Obama is expected to press other global leaders attending the upcoming G20 summit in Hangzhou, China on Sept. 4-5 to detail specific plans on eliminating subsidies for fossil fuels over the coming years as a way to combat climate change. The move by President Obama comes on the heels of G7 leaders pledging to eliminate most fossil fuel subsides by 2025 at a meeting in Japan in May. Countries around the world currently hand out almost $450B/y in fossil fuel subsidies in the form of government investments, subsidized loans, and tax breaks.