, 13 tweets, 17 min read Read on Twitter
"EU countries have ‘no concrete plans’ to phase out fossil fuel subsidies" @FredSimonEU @EURACTIV euractiv.com/section/climat…

"Oil and gas companies undermining climate goals" @JH_Ambrose @guardian theguardian.com/environment/20…

@IOGP_EU, it seems you are, 6(!)-reports-proof !

Why?👇
According to a recent report of @CarbonBubble @amwgrant [carbontracker.org/reports/breaki…] :

"Major oil and gas companies have invested $50bn (£40.6bn) in fossil fuel projects that undermine global efforts to avert a runaway climate crisis"
"@exxonmobil @Chevron @Shell @BP_plc each spent at least 30% of their investment in 2018 on projects that are inconsistent with climate targets, and would be “deep out of the money in a low-carbon world"

@baeckelmans @delbeke_jos
Another recent report of @BNPParibas [docfinder.bnpparibas-am.com/api/files/1094…], discussed at the @TheEnergyGang @Stphn_Lacey [greentechmedia.com/articles/read/…], concludes :

"Economic and environmental benefits set to make renewables in tandem with EVs irresistible" [hyp.is/u_vIhtMDEemgW4…]
"The economics of renewables are impossible for oil to compete with when looked at over the cycle. We calculate that to get the same amount of mobility from gasoline as from new renewables with EVs over the next 25 years would cost 6.2-7x more"

hyp.is/OU2GXtMDEemkTd…
"even if we add in the cost of building new network infrastructure to cope with all the new wind and/or solar capacity implied by replacing gasoline with renewables and EVs, the economics of renewables still crush those of oil"

hyp.is/K_h7itMDEemWIm…
Despite this, "not a single EU member state has so far spelled out a comprehensive plan to phase out fossil fuel subsidies, despite a G20-commitment ten years ago to eliminate them"

@ODIdev @foeeurope @CANIntl @milieudefensie @LaurievdBurg report : odi.org/sites/odi.org.…
"Worse, five EU countries – the UK, Germany, Greece, Poland, and Slovenia – are even looking to introduce new subsidies by 2030, many of which are labelled as ‘low-carbon transition support’."
"EU governments provided on average €55 billion per year in fossil fuel subsidies between 2014 and 2016, according to research by @InfoTrinomics [publications.europa.eu/en/publication…] contracted by the @EU_Commission, a level which stayed broadly stable over that period."
"At the same time, EU countries and Norway earned more than €400 billion in revenue from oil and gas taxation in 2017, according to a @NERA_Economics report […v99m251h4e9t8-wpengine.netdna-ssl.com/bookstore/wp-c…] for @IOGP_News, underlining the difficulty for governments to end the subsidies."
"The transport sector received 44% of the total government support identified, including tax breaks to reduce the price of diesel, according to an earlier analysis by the @ODIdev and @CANIntl @MaeveMcLynn @LaurievdBurg @LeahWorrall @shelaghwhitley (2017)" odi.org/publications/1…
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Florian Dierickx
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!