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Fossil fuel subsidies 'reckless use of public funds'
Source: BBC
7 November 2013 Last updated at 02:50 GMT
Fossil fuel subsidies 'reckless use of public funds'
By Matt McGrath
Environment correspondent, BBC News
The world is spending half a trillion dollars on fossil fuel subsidies every year, according to a new report.
The Overseas Development Institute (ODI) says rich countries are spending seven times more supporting coal, oil and gas than they are on helping poorer nations fight climate change.
Some countries including Egypt, Morocco and Pakistan, have subsidies bigger than the national fiscal deficit.
The new report calls on the G20 to phase out the payments by 2020.
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Read more: http://www.bbc.co.uk/news/science-environment-24833153
