Investment & Economy

G20 countries committed to invest 576.82 billion US dollars to support energy development From EnergyPolicyTracker

The following is the G20 countries committed to invest 576.82 billion US dollars to support energy development From EnergyPolicyTracker recommended by recordtrend.com. And this article belongs to the classification: Investment & Economy.

According to official government information and other public information, since the beginning of the cowid-19 pandemic in early 2020, G20 governments have committed to support different types of energy through new or revised policies, with an amount of at least US $576.82 billion. These public funding commitments include:

At least $204.24 billion will be provided for unconditional fossil fuels through 220 policies (105 quantified and 115 unquantified).

Through 40 policies (30 quantified and 10 unquantified), at least 38.63 billion US dollars will be spent on conditional fossil fuels.

Provide at least US $48.86 billion for unconditional clean energy through 146 policies (85 quantified and 61 unquantified).

Provide at least 181.4 billion US dollars for conditional clean energy through 134 policies (89 quantified and 45 unquantified).

Provide at least US $103.69 billion for other energy through 90 policies (46 quantified and 44 unquantified).

By energy type, the committed investment in oil and gas of G20 countries is at least US $189.01 billion. In addition, G20 members have committed to invest at least US $24.25 billion in coal. In addition, there is no public funding commitment for fossil fuel based hydrogen. Finally, the G20 countries committed at least US $16.59 billion to a variety of fossil fuels.

The large amount of public funds committed to supporting the economies and people of G20 countries through monetary and fiscal policies to cope with the crisis may also benefit different sectors of the energy sector. However, these values are not available from official legislation and statements and therefore are not included in the database.

These public funding commitments are complementary to many other government policies that existed prior to the covid-19 pandemic to support different types of energy.

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