How Is KR 7.2 Tracking?
Our Subsidies key result urges countries to eliminate subsidies that fund carbon emissions—and to redirect that money into energy efficiency and our clean energy transition.
Including indirect subsidies, fossil fuels cost the world $5.9 trillion globally—nearly 7 percent of global GDP. This figure includes secondary costs, such as health care spending resulting from air pollution.
The United States spends $662 billion, including $81 billion on military and security outlays, to protect oil and gas sites and global transportation routes.
This key result also calls for ending agricultural subsidies for high-emissions practices, and for instituting incentives for regenerative agriculture and other climate-friendly measures.
Data for KR 7.2 is sourced from the IMF, which tracks fossil fuel subsidies in top emitting nations.