How Is KR 7.4 Tracking?
Our Subsidies KR urges countries to eliminate the roughly $1.3 trillion-plus in annual explicit subsidies that incentivize the production and use of fossil fuels—and to redirect these funds into energy efficiency and making renewables affordable for consumers. Implicit subsidies, accounting for the $5.7 trillion in “social costs” of carbon–including premature mortality and pollution-linked disease–would be cut dramatically by an appropriate price on carbon.