Climate Change

What do green subsidies mean for the future of climate and trade?

The EU already provides renewable energy financing and subsidies that focus on the early-stage development of new forms of technologies.

The EU already provides renewable energy financing and subsidies that focus on the early-stage development of new forms of technologies. Image: REUTERS/Yves Herman

Timothy Conley
Digital Engagement Specialist, World Economic Forum
Kimberley Botwright
Head, Sustainable Trade, World Economic Forum
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The US Inflation Reduction Act (IRA) has committed $400bn in investment and subsidies to cut the country’s greenhouse gas emissions and accelerate the adoption of renewable technologies.
The US Inflation Reduction Act (IRA) has committed $400bn in investment and subsidies to cut the country’s greenhouse gas emissions and accelerate the adoption of renewable technologies. Image: REUTERS/Kevin Lamarque/File Photo

As the green subsidy race between the US and EU heats up, some fear that other countries will be left behind, especially developing and emerging economies. In picture: Barbados Prime Minister Mia Mottley at the opening ceremony of the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain.
As the green subsidy race between the US and EU heats up, some fear that other countries will be left behind, especially developing and emerging economies. In picture: Barbados Prime Minister Mia Mottley at the opening ceremony of the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain. Image: REUTERS

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