Go back

Report demands an end to oil and gas subsidies

The subsidisation of fossil fuel exploration by the UK and other G20 governments is undermining agreed climate goals, according to a report.

The Overseas Development Institute, a UK-based think tank, and the advocacy group Oil Change International, say in a report, published on 11 November, that exploration subsidies in the UK add up to around £770 million a year, largely in tax exemptions.

They also say that the UK provides public finance for fossil fuel exploration, including around £1.26 billion paid out between 2010 and 2013 by the Royal Bank of Scotland, which is 80 per cent state owned.

This article is only available to Research Professional News subscribers or Pivot-RP users.

If you are a Research Professional News subscriber you can log in and view the article via this link

Pivot-RP users can log in and view the article via this link.