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Governments Need to Redirect Funds to Protect Nature, Study Says

Sunset at the Ecopetrol Barrancabermeja refinery in Barrancabermeja, Colombia.

Sunset at the Ecopetrol Barrancabermeja refinery in Barrancabermeja, Colombia.

Photographer: Ivan Valencia/Bloomberg

Governments globally are providing at least $1.8 trillion per year that’s contributing to the destruction of ecosystems, climate change and species extinction, according to research from a group called the B Team and Business for Nature.

The report provides an estimate for what it calls “environmentally harmful subsidies” that are being made available to industries led by fossil fuel, agriculture and water companies. For example, about $640 billion of public support is going annually to fossil fuels.