A report, released on Tuesday by the Climate Institute, has found that Australia’s polluting energy sector benefits from an annual subsidy of $14-39 billion from the unpriced cost of climate damages on economic growth, environmental systems, health, and security.
The total carbon subsidy to electricity between now and 2030 would reach $165-500 billion, even if the current RET stays in place. If the RET is curbed, the subsidy would increase by about $0.7-2 billion annually. If the RET were abolished altogether (and current arrangements grandfathered), the carbon subsidy would increase by about $0.8-2.5 billion annually.
“Other countries like the United States, Canada and the United Kingdom recognise the economic costs of carbon pollution, and the IMF is calling on all countries to end this subsidy to fossil fuels”
Read the full article on RenewEconomy
Enough reasons to take your saved or invested money out of the industries causing or supporting the pollution and into sustainable organisations and industries.