One would be shocked to know that the humans themselves are funding for the destruction of planet earth. Yes, according to the latest study reports, at least 1.8 trillion dollars that means 1.8 Lakh crore Indian rupees are being spent worldwide every year on the subsidies that drive the extinction of wildlife and rise in global warming.
The new study has prompted warnings that humanity is financing its own destruction. The ‘Guardian’ reports that the first cross-sector assessment conducted for more than a decade highlights that ‘From tax breaks for beef production in the Amazon to financial support for unsustainable groundwater pumping in the Middle East, thousands of crores are spent by the government and other subsidies are harming the environment and ecology.
The support of the governments which is almost 2 % of global GDP is directed towards working against the objectives and goals of the ‘Paris Agreement’ and targetting on creating loss to biodiversity, water pollution, deforestation with state money.
The authors, who are leading subsidies experts, say a significant portion of the $1.8tn could be repurposed to support policies that are beneficial for nature and a transition to net zero, amid growing political division about the cost of decarbonising the global economy.
Photo by S Migaj from Pexels
