The amount of public money flowing into coal, oil and gas in 20 of the world's biggest economies reached a record $1.4tn (£1.1tn) in 2022, according to the International Institute for Sustainable Development (IISD) thinktank, even though world leaders agreed to phase out "inefficient" fossil fuel subsidies at the Cop26 climate summit in Glasgow two years ago.
The report comes before a meeting of G20 countries in Delhi next month that could set the tone for the next big climate conference, which takes place in the United Arab Emirates in November.
Tara Laan, a senior associate with the IISD and lead author of the study, said it was crucial that leaders put fossil fuel subsidies on the agenda.
"These figures are a stark reminder of the massive amounts of public money G20 governments continue to pour into fossil fuels - despite the devastating impacts of climate change," she said.
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