Public Financial Support for Renewable Power Generation and Integration in the G20 Countries

G20 governments provided at least USD 168 billion in public financial support for renewable power in 2023, which is less than one third of the USD 535 billion provided in fossil fuel subsidies that same year. Advanced G20 economies and China provided 95% of this support, primarily targeting solar and wind energy. To achieve the COP 28 goal of tripling renewable energy capacity by 2030, annual public support may need to double to approximately USD 336 billion.

• In 2023, G20 governments provided at least USD 168 billion in public financial support for renewable power, a figure that represents less than one third of the USD 535 billion provided in fossil fuel subsidies during the same year.
• The vast majority of renewable power support within the G20—95%—was provided by China and advanced economies, with available disaggregated data showing a primary focus on wind and solar technologies.
• To meet the COP 28 pledge to triple renewable energy capacity by 2030, annual public financial support may need to increase to approximately USD 336 billion, assuming current investment patterns continue.

APA

Wang,, T. L. D. H. U. P. (2024). Public Financial Support for Renewable Power Generation and Integration in the G20 Countries. International Institute for Sustainable Development. https://www.iisd.org/publications/report/renewable-energy-support-g20

Chicago

Wang,, Tara Laan,Nhat Do,Steven Haig,Indira Urazova,Eduardo Posada,Hanjie. Public Financial Support for Renewable Power Generation and Integration in the G20 Countries. International Institute for Sustainable Development, 2024. https://www.iisd.org/publications/report/renewable-energy-support-g20.

Wikipedia

{{cite report |last1=Wang, |first1=Tara Laan,Nhat Do,Steven Haig,Indira Urazova,Eduardo Posada,Hanjie |title=Public Financial Support for Renewable Power Generation and Integration in the G20 Countries |publisher=International Institute for Sustainable Development |date=30 September 2024 |url=https://www.iisd.org/publications/report/renewable-energy-support-g20 |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{wang2024public, author = {Wang,, Tara Laan,Nhat Do,Steven Haig,Indira Urazova,Eduardo Posada,Hanjie}, title = {{Public Financial Support for Renewable Power Generation and Integration in the G20 Countries}}, institution = {International Institute for Sustainable Development}, year = {2024}, month = sep, url = {https://www.iisd.org/publications/report/renewable-energy-support-g20}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }