The IMF estimates that fossil fuel subsidies now amount to $1000 a year for every citizen living the G20 group of the world’s leading economies. This comes despite a promise from world leaders in 2009 to phase out such support for coal, oil and gas.
Worldwide energy subsidies are expected to rise to $5.3trn a year in 2015, or 6.5% of global GDP, says the IMF.
