Study calls for reform to energy subsidies

Energy subsidies may be outdated and could be much more costly than previously thought A new study from the International Monetary Fund suggests that the cost of fossil-fuels is much higher than many believe. The study has found that the post-tax subsidy for energy, which also represents the environmental and health costs associated with traditional forms of power, will be $5.3 trillion in 2015. This is approximately 6% of the global gross domestic product and this is more than twice as high as the original predictions from the International Monetary…

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Renewable energy may help the world avoid a costly problem

Cost of meeting the world’s energy needs will reach new heights by 2035 Accommodating the world’s energy needs is expected to become a very expensive problem, according to a special report from the International Energy Agency. Energy costs are growing more expensive at a rapid pace and energy consumption is also on the rise. Despite countries taking steps to embrace energy efficiency and cut down on their use of fossil-fuels, the cost of electricity continues to grow and this cost may become unmanageable by some countries in the future. More…

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New climate change fund is now open for business

Fund aims to address environmental issues by supporting developing countries The Board of the Green Climate Fund, a multilateral fund that is meant to assist developing countries in addressing the problems associated with climate change, has finalized its business model. The fund is now able to accept financial aid from countries that are interested in tackling the problem of climate change. The money that the fun collects will be used to create new opportunities in developing countries and these opportunities will involve renewable energy, energy efficiency, and emissions reduction in…

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