IEA official slams fossil support

International Energy Agency (IEA) chief economist Fatih Birol has hit out at governments’ support for fossil fuels, saying present policies mean that carbon emissions are being subsidised to the tune of $110/tonne.

Speaking at the EWEA2013 conference in Vienna, Birol said that globally fossil fuel subsidies have risen to $523bn – dwarfing support for renewables which were around $88bn, with only $21bn for wind.

"For me, fossil fuel subsidies are public enemy number one of sustainable energy development" said Birol, adding that the IEA is doing its best to persuade the G20 group of countries to act on the issue.

Birol pointed out that while CO2 emissions are at a record level, the renewable energy industry is "under strain". He said…

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login