Mastodawn

Failing to address climate change is very expensive.

https://www.theguardian.com/world/2025/sep/15/europes-summer-of-extreme-weather-caused-43bn-of-short-term-losses-analysis-finds

Europe’s summer of extreme weather caused €43bn of short-term losses, analysis finds

Greatest damage from heat, drought and flooding done in Cyprus, Greece, Malta and Bulgaria

The Guardian

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Albert Cardona Sep 19, 2025

@davidho Issue is always: for petroleum and gas companies, these costs are externalities. They continue to benefit, to top it off, from a 1.3 trillion dollar per year subsidy. Over one trillion dollars! Plus another 6 trillion dollars in indirect subsidies.

https://www.imf.org/en/Blogs/Articles/2023/08/24/fossil-fuel-subsidies-surged-to-record-7-trillion

#FossilFuels #CO2 #GlobalWarming #ClimateChange #OilSubsidies

Fossil Fuel Subsidies Surged to Record $7 Trillion

Scaling back subsidies would reduce air pollution, generate revenue, and make a major contribution to slowing climate change

IMF