Japan to offer $20bn towards subsidies for hydrogen producers

According to reports, Japan will make a decision on which companies will be in receipt of subsidies from its massive ¥3trn ($20.3bn) fund for clean hydrogen supply by the end of 2024. Domestic producers and importers of low-carbon hydrogen are hoping for a slice of the government’s Contracts for Difference-style (CfD) subsidy programme, announced in

Subsidies worsening climate change, says World Bank

The World Bank has called on countries to use the money they spend on subsidising fossil fuels, agriculture, and fisheries to fight climate change instead

Record high fossil fuel consumption subsidies in 2022

According to the International Energy Agency (IEA), worldwide subsidies for fossil fuel consumption increased dramatically in 2022, surpassing $1 trillion for the first time. This surge in subsidies was caused by energy market turbulence, which led to international fuel prices soaring well above what many consumers paid. Consumption subsidies are energy price cuts for consumers,

Subsidies to green hydrogen is violation of WTO norms

India believes huge subsidies announced by some developed countries for their green hydrogen sector can distort trade and is in violation of World Trade Organization (WTO) norms, power minister R.K. Singh said. Speaking at a press conference, Singh said that the big subsidies is a challenge for the industry in India as it aims to

Global fossil fuel subsidies crossed over $5 trillion between 2010-2021

With energy consumption vital for life and business, governments often look to fossil fuel subsidies to make energy as affordable as possible. These subsidies artificially reduce the price of fossil fuels and generally take two forms: Production subsidies occur when governments provide tax cuts or direct payments that reduce the cost of producing coal, oil,