Fanning the Flames: G20 provides record financial support for fossil fuels

The report details the data sources and estimation techniques used to track G20 financial support for fossil fuels, including subsidies, state-owned enterprise (SOE) investments, and international public finance. It highlights significant data gaps and transparency issues, particularly regarding subnational support and Chinese SOE reporting, and explains the methods used to approximate 2022 subsidy levels during the energy crisis.

• The authors estimated 2022 G20 fossil fuel price-gap subsidies at USD 537 billion, based on the G20's 49% share of the International Energy Agency's (IEA) 2021 global estimate applied to the IEA's 2022 global estimate of USD 1,097 billion.
• Government support for fossil fuels is likely underestimated in this analysis because the study only collects data on national-level subsidy and SOE policies, omitting subnational jurisdictions which can provide large subsidies and include large SOEs.
• Data transparency for Chinese energy SOEs is limited; some reports provide only gross figures, making it impossible to determine if investments have shifted between fossil fuels and renewables, and some listed subsidiaries are more transparent than their parent groups.
• The analysis of state-owned enterprise (SOE) investment is likely an underestimate because the authors applied a strict 50% government ownership rule, excluding SOEs with lower ownership that may still be state-directed.
• Estimates for international public finance for fossil fuels in 2022 were derived from the average of 2019–2021 data because 2022 data was unavailable at the time of writing.
• The report identifies a lack of up-to-date databases for G20 or global renewable energy subsidy expenditures, leading the authors to estimate government spending commitments rather than actual expenditures.
• The cost of ending world hunger was estimated at USD 33 billion in additional annual public funding until 2030, which the authors adjusted to USD 41.5 billion by 2023 when accounting for annual global inflation.

APA

Laan, T., & Geddes, A. (2023). Fanning the Flames: G20 provides record financial support for fossil fuels. International Institute for Sustainable Development. https://www.iisd.org/system/files/2023-08/g20-fossil-fuel-support-methodology.pdf

Chicago

Laan, Tara, and Anna Geddes. Fanning the Flames: G20 provides record financial support for fossil fuels. International Institute for Sustainable Development, 2023. https://www.iisd.org/system/files/2023-08/g20-fossil-fuel-support-methodology.pdf.

Wikipedia

{{cite report |last1=Laan |first1=Tara |last2=Geddes |first2=Anna |title=Fanning the Flames: G20 provides record financial support for fossil fuels |publisher=International Institute for Sustainable Development |date=August 2023 |url=https://www.iisd.org/system/files/2023-08/g20-fossil-fuel-support-methodology.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{laan2023fanning, author = {Laan, Tara and Geddes, Anna}, title = {{Fanning the Flames: G20 provides record financial support for fossil fuels}}, institution = {International Institute for Sustainable Development}, year = {2023}, month = aug, url = {https://www.iisd.org/system/files/2023-08/g20-fossil-fuel-support-methodology.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }