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Energy subsidies 'aggravate global warming ': IMF

2013-03-28 11:19:00| Climate Ark Climate Change & Global Warming Newsfeed

Brisbane Times: The International Monetary Fund has urged nations to slash their $US1.9 trillion ($1.8 trillion) in annual energy subsidies because they increase inequality, boost greenhouse gas emissions and limit investment in the renewable energy industry. While many nations use energy subsidies to shield consumers from rising prices, benefits tend to be grabbed by higher-income households. The outlays also sap funds available for bigger improvements to assist the wellbeing of the poor, such as health and...

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