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

Mar 13, 2023

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. 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. Image: REUTERS

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