Fossil Fuel Subsidies
Crisis
Fossil-fuel subsidies typically provide financial support to the fossil-fuel industry. Financial benefits can take many shapes: direct payments, lower tax rates, or support to drive the cost of fossil fuels lower than their typical market price, for example. Globally, governments spend more than $500 billion a year in subsidies to the fossil fuel industry. These subsidies were generally established because fossil corporations have historically been very important to the functioning of national economies, and so it was important that they did well. In part, subsidies have also been designed to protect consumers by keeping prices low, especially during times of energy crisis. However, research shows the cost of such subsidies has been far higher than benefits, given that they rarely help those who need it most.
Ending fossil fuel subsidies and boosting renewable subsidies in their place is vital for replacing dirty energy sources. It will require countries to make big changes to their tax codes and work across borders to eradicate this practice globally.
Every player must discard 1 card per Temperature Band, from their hand and/or play area.
Players can reduce this effect by 1 for each Social Resilience token in their player board.
For example: 3 Temperature Bands – 2 Social Resilience = discard 1 card.
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Fossil Fuel Subsidies (International Monetary Fund, IMF)
Everything You Need to Know About Fossil Fuel Subsidies (Greenpeace)
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