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The report argues that the COVID-19 pandemic acted as an 'X-ray,' exposing deep structural inequalities and the failure of neoliberal policies. It critiques the global fiscal response, noting that while US$ 11 trillion was mobilized, the support was unevenly distributed, favoring high-income countries and corporate interests over the global South and public services. The document proposes an "8 R" agenda for systemic change: re-valuing care, re-empowering public services, re-balancing value chains, reinforcing climate justice, re-distributing economic power, re-regulating global finance, re-inventing multilateral solidarity, and re-defining progress beyond GDP. It specifically highlights the dangers of IMF-mandated austerity in countries like Ecuador and the failure of the Global Health Security Index to predict pandemic outcomes due to its reliance on infrastructure over social determinants of health.

Argentina ranks second among G20 non-OECD countries due to relatively low support for fossil fuel use and good transparency, though it provides significant annual funding for oil and gas production, primarily through state-owned enterprise investments.

Australia has increased its total government support for fossil fuels by 30% compared to the 2014–2016 average, primarily through tax exemptions and credits. Total support averaged USD 7.7 billion between 2017 and 2019, with the vast majority (USD 7.5 billion) directed toward fossil fuel use. The document highlights significant tax breaks for producers via the Petroleum Resource Rent Tax (PRRT) and fuel tax credits, noting that nine of the ten largest producers paid no corporate income tax in 2017–18.

Brazil ranks first among non-OECD G20 countries in the scorecard due to low support for coal and fossil fuel-based power, though it continues to provide significant funding for oil and gas production. While state-owned enterprise investments in fossil fuels decreased by 23% compared to the 2014–2016 average, the country faces criticism for a lack of transparency and the implementation of new tax incentives to boost oil and gas production.

Canada provides significant public finance for fossil fuels, ranking worst among G20 OECD members on a per GDP basis. While some exploration measures have been phased out, total support increased by 12% relative to 2014–2016, driven largely by infrastructure development for oil and gas, including liquefied natural gas. The document highlights substantial unquantified support for projects like the Trans Mountain Pipeline and recent COVID-19 relief measures for fossil fuel producers.

France ranks second among G20 OECD members for its commitments and low support for fossil fuel production per GDP, yet it maintains high support for fossil fuel-based power and consumption. Total government support averaged USD 19.4 billion (2017–2019), with a significant 87% increase in public finance for fossil fuels compared to the 2014–2016 average, primarily driven by oil and gas production.

Germany ranks first among G20 OECD member countries in the G20 Scorecard of Fossil Fuel Funding, with an overall score of 71/100. While the country has reduced overall fossil fuel support by 35% compared to the 2014–2016 average—driven by the end of hard coal mining subsidies in 2018 and plans to phase out lignite by 2038—it continues to provide USD 2.6 billion annually for fossil fuel consumption in industry and transport. This consumption support is primarily delivered through tax relief for diesel and exemptions for aviation and shipping.

India provides significant government support for fossil fuels, averaging USD 44.6 billion between 2017 and 2019, primarily through consumer price supports and state-owned enterprise investments in oil and gas. While consumer subsidies for petrol, diesel, and kerosene have decreased, public finance for fossil fuel-based power and SOE investments have increased. The document also highlights unquantified support via power distribution utility bailouts and lower GST rates for coal.

Japan is ranked second among G20 OECD member countries for its low level of support for fossil fuel use, yet it remains the second-highest supplier of public finance for fossil fuel projects. While overall support dropped by 48%, Japan increased public finance for coal production by 944% relative to the 2014–2016 average. The document highlights significant transparency gaps and the continued funding of coal and LNG projects in countries like Bangladesh, Vietnam, and Indonesia.

Mexico ranks last among G20 OECD member countries in the G20 Scorecard of Fossil Fuel Funding, with an overall score of 48/100. Between 2017 and 2019, Mexico provided an average of USD 29.9 billion in total government support to fossil fuels, dominated by USD 13.3 billion in annual state-owned enterprise (SOE) investments via PEMEX. While overall support decreased by 21% relative to the 2014–2016 average—driven by a 37% drop in SOE investment—support for fossil fuel-based power increased by 17% due to higher electricity price support. Additionally, the government provided a USD 3 billion tax break on oil extraction to offset COVID-19 related oil price drops.

Russia is identified as the second-largest provider of government support to fossil fuels globally, with an annual average of USD 80.9 billion between 2017 and 2019. This support is primarily driven by state-owned enterprise (SOE) investments and tax expenditures for oil and gas production. While the country has phased out some property tax exemptions for pipelines, overall tax expenditures for fossil fuels rose 79% compared to 2014–2016 averages. The report notes significant unquantified support via preferential rail tariffs for coal and regional programs for Arctic oil and gas, as well as a lack of commitment to G20 peer reviews on subsidies.

Saudi Arabia is ranked lowest among G20 non-OECD member countries due to high levels of fossil fuel support, totaling an annual average of $77 billion between 2017 and 2019. This support is primarily driven by state-owned enterprise (SOE) investments, with Saudi Aramco providing approximately $33 billion annually for oil and gas and the Saudi Electric Company investing $8.2 billion annually in fossil fuel-based power. While the government introduced energy subsidy reforms in 2016 and 2018 under Vision 2030, domestic fuel prices remain significantly below international benchmarks. Transparency remains low regarding direct budgetary transfers and tax expenditures, leading to likely underestimations of total support.

South Africa is identified as the second-worst performer among G20 non-OECD member countries due to a lack of transparency and continued support for fossil fuels. Total government support averaged USD 10.9 billion between 2017 and 2019, with the largest portion directed toward fossil fuel-based power. Support increased by 14% relative to the 2014–2016 average, driven largely by price support. The document highlights significant unquantified support, including billions in bailouts and loan guarantees for the state-owned utility Eskom, as well as carbon tax exemptions for major emitters like Sasol.

Turkey ranks last among G20 OECD member countries in fossil fuel funding, providing an average of USD 6.8 billion in total government support between 2017 and 2019. While state-owned enterprise investment in oil and gas production decreased by 33% compared to the 2014–2016 average, support for fossil fuel consumption increased by 11% through tax expenditures. The document highlights significant transparency gaps, noting that Turkey has not performed the G20 fossil fuel subsidy peer review and lacks data on public financing from government-owned banks.

The report finds that while India has shifted significant public resources toward clean energy since FY 2014, fossil fuel subsidies in FY 2019 remained over seven times larger than those for alternative energy. Key trends include a 65% increase in oil and gas subsidies between FY 2017 and FY 2019, a 35% decrease in renewable energy subsidies due to falling costs and policy constraints, and a rapid increase in electric vehicle support. The authors recommend further swapping fossil fuel resources for clean energy, targeting consumption subsidies for energy access, and addressing the full net costs of coal.

The IISD's 2020-2025 strategic orientation, termed the CREATE framework, prioritizes driving clean energy transitions, protecting biodiversity and water resources, and promoting inclusive economic rules. The organization aims to leverage the post-COVID-19 recovery to 'build back better' and increase its global influence through strategic partnerships and enhanced communication.

China provides the largest amount of fossil fuel support among G20 countries, averaging USD 134.2 billion annually from 2017 to 2019. While ranked highly for transparency and commitments, China has seen a 35% increase in overall fossil fuel support relative to 2014–2016 averages, driven largely by state-owned enterprise (SOE) investments in oil and gas production.

Indonesia provides significant fossil fuel support, primarily through USD 17.7 billion in price supports for consumers, representing a 56% increase over the 2014–2016 average. While reforms occurred between 2014 and 2017, recent progress is rated as poor, with total government support averaging USD 28 billion from 2017 to 2019. The document highlights a lack of regular reporting and quantification of subsidies, including various tax incentives for upstream oil and gas contractors.

Italy provides an annual average of USD 13.7 billion in total government support to fossil fuels (2017–2019), dominated by USD 11.2 billion for fossil fuel consumption via tax credits and exemptions on diesel and petroleum. While Italy has phased out support for coal production, it increased public finance for fossil fuels by 33% between 2014 and 2018, primarily for oil and gas production. The document also notes a USD 3.3 billion COVID-19 bailout for Alitalia and describes Italy's transparency regarding environmentally harmful subsidies as mediocre.

The Republic of Korea is the fourth-highest provider of public finance for fossil fuels among G20 countries, with an average annual government support of $12.4 billion between 2017 and 2019. While the government has committed to no new public finance for domestic coal projects and aims for carbon neutrality by 2050 under a Green New Deal platform, it has increased public finance for fossil fuels by 9% relative to 2014–2016 levels and provided $2.49 billion in emergency bailout loans to coal plant manufacturer Doosan Heavy Industries & Construction during the COVID-19 pandemic.