Recent StudyIt was found that the world spends an astounding $1.8 trillion each year on subsidies that cause harm to the environment. These subsidies are driving the extinctions of wildlife and raising global temperatures.
These subsidies cover everything from tax breaks for savage beef production in Amazon to the funding of unsustainable groundwater pumping in Middle East. We are financing the destruction of our planets.
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Subsidy support by the government directly goes against the will of the people. Paris AgreementPays for water pollution and land sinking.
According to the study’s authors, a large part of $1.8 trillion could be used for eco-friendly policies that benefit nature. This money could be repurposed to help transition to net zero emissions.
The report calls on governments to reach an agreement and eliminate harmful subsidies to the environment. It is hoped that a Paris agreement will be signed in China during the biodiversity conference. Companies will also disclose the subsidies they receive as part environmental disclosure.
Eva Zabey is the Executive Director of Business for Nature. Subsidies can cause serious harm to many businesses, even though they may not be aware. They should still use their influence to demand change.
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Many businesses are able to benefit from these environmentally damaging subsidies. This topic should not be taboo. She stated that it is important to talk using facts and understand where the financial flows are heading. She also said that subsidies are usually established with good intentions. We must level the playing field, as some are getting a head start while others are losing out. It’s a terrible problem.
Transparency between government and subsidy recipients is essential to combat these harmful practices and work towards a net zero economy. Our beautiful planet will suffer if the world doesn’t cooperate.
Sign this petitionTo abolish climate-changing subsidies
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