fossil fuel subsidies more harmful to the climate than ever

Billions of euros of public money to support green investments. Renewable energies, rail transport, energy renovation. While this spending is climate-friendly, on the other hand, subsidies and tax exemptions still support fossil fuels, up to six times more according to some estimates. A contradiction recognized by the government. “Is it consistent to maintain aid and tax credits for fossil fuels when we want to decarbonize the French economy”, asked the Minister of the Economy, Bruno Le Maire.

Tens of billions of euros harmful to the climate

Without these types of advantages, French transport companies could go out of business, while they emit massive amounts of greenhouse gases into the air. “If one of the main objectives is to reduce greenhouse gases, for the transport of goods, it would at least not favor the most fossil-based activities”, calls Nicolas Desquinabo, expert in public policy. In all, between 20 and 67 billion euros of public spending are harmful to the climate. The government is considering redirecting them in its next finance bill in the fall.