that details the amount of money being spent by various governments around the world to promote carbon capture and various hydrogen schemes, technologies it claims are a waste of money, time, and effort.
“Governments must eliminate subsidies and public finance for fossil fuel extraction and infrastructure, including carbon capture and fossil hydrogen, by 2025. They should implement tax policies that disincentivize new fossil fuel investments and maximize public funds for a just transition and climate impacts.
The subsidies are a “colossal waste of money,” according to Harjeet Singh, global engagement director for the Fossil Fuel Non-Proliferation Treaty Initiative. “It is nothing short of a travesty that funds meant to combat climate change are instead bolstering the very industries driving it.