G7 countries allocate 34 billion euros fossil fuel revealed - The G7 countries have allocated 34,000 million euros more to fossil fuels than to clean energy.

Insufficient steps in the fight against climate change, half-baked promises and investments incompatible with the environmental objectives that have been set: these are some of the criticisms made by a new report against the G7 and its invited nations.

"Since the start of the COVID-19 pandemic, and despite collective promises to 'build back better', G7 countries have been investing more money in fossil fuels than in clean energy," a report published by Tearfund, in collaboration with IISD (International Institute for Sustainable Development) and ODI (Overseas Development Institute) begins warning.

In particular, the investment in coal, oil, and gas from January 2020 to march 2021 has ascended to 189.000 million dollars (around 154.560 million euros), while renewables have been allocated 147.000 million dollars (120.210 million euros). In other words, the G7 countries have invested some 34,350 million euros more in fossil fuels than in clean forms of energy.

"These investments, including the many direct support measures and environmental deregulations adopted in favour of the fossil fuel industry, are incompatible with the sharp reduction in emissions necessary to limit global warming to 1.5 °C and with the G7 countries' own net zero targets," the report criticizes.

G7 countries allocate 34 billion euros fossil fuel revealed

In this way, the G7 nations, which will meet at the next summit on June 11, "have missed great opportunities" to offer a greener response in their recovery to the impact of the pandemic, the document notes.

In addition, more than 8 in 10 dollars spent on fossil fuels did not include any requirements to approach climate targets or reduce pollution, the authors regret, who positively value some new commitments and ecological announcements from these nations, but believe that "they can do much more" in the path of a progressive ecological transition.

"The G7 countries are still not investing on a sufficient scale in technologies that support the rapid decarbonisation of their economies and have therefore also given up the increased job creation that could generate a greener response to COVID-19," they say.

G7 countries allocate 34 billion euros fossil fuel revealed

As an example of this unbalanced dynamic in favour of fuels, the transport sector received two-thirds of all G7 financial commitments in the last 15 months.

While some of these contributed to cleaner transport (public transport infrastructure or electric vehicles), these countries launched "huge lifesavers" to the airline and automobile sectors, with 115 billion dollars (more than 94 billion euros). Of these, in addition, 80% were without conditions to limit emissions in the future.

G7 countries allocate 34 billion euros fossil fuel revealed: Although the climate crisis will be the protagonist at the G7 summit, none of the participants has a totally green record in terms of economic recovery responses, highlights the study, which recalls that these 7 nations represent more than 24% of global CO2 emissions.

Of the 11 participants (USA) UU. Canada, Germany, France, United Kingdom, Italy and Japan, plus the 4 invited countries: Australia, South Korea, India and South Africa), 8 have substantially improved the ecological character of their plans in the last year, but only Canada, France, Germany and the United Kingdom have developed programs that "will cause more benefits than environmental damage," he says.

Finally, the report points the finger at the G7 and warns: "The decisions they make now will accelerate the transition to a climate-safe future for all or jeopardize the efforts made so far to address the climate crisis."

G7 countries allocate 34 billion euros fossil fuel revealed

More news:

Unemployment recorded in May its greatest monthly decline in history, Social Security recovers more than 210,000 average members and are reduced by 15% those affected by ERTE

The labour market continues to recover strength 15 months after the outbreak of the pandemic, although it is still below the figures it held before the coronavirus, to which it is gradually approaching both in terms of registered unemployment and Social Security affiliation.

Thus, the Ministry of Labour has revealed that in may the number of persons entered in the office of the State Public Employment Service (SEPE) has been reduced in 129.378 compared to the previous month, a 3.3% less, that is the largest monthly decrease in registered unemployment in the entire historical series, which started in 1996, and contrasts with the rise of 26.573 people who recorded 12 months ago, as shown by the graph below.

This fall in unemployment in May puts the total number of unemployed at 3.77 million people, its lowest record since September and surpassing its figures of March 2020, the month that the pandemic broke out, at 230,000 unemployed. In addition, it represents the third consecutive month of monthly reduction in the number of unemployed, while compared to the previous year there are currently 76,500 unemployed less and in seasonally adjusted terms, 29,400 less than 12 months ago.

The sharp fall in unemployment in May has been generalized in all sectors, communities, age groups and by sex and has meant an increase in hiring of 81.7% compared to the same month last year, with 694,700 more contracts to a total of 1.55 million, of which 10% have been indefinite, doubling the records of non-temporary hiring of the month of May 2020.

By sector, the biggest monthly decline in unemployment was recorded in services, with 93.300 unemployed less, followed at a great distance from industry and agriculture, with 9,400 and 9,100 fewer unemployed persons, while on the sexes, the female unemployment has fallen a 2,72%, up to a total of 2.1 million unemployed, while the men fell 4,11%, and by age, youth unemployment has fallen a 9,27%, while above that age, unemployment fell 2.7%.

Segment by regions, Balearic recorded the largest percentage drop in unemployment in may, with 8.2% less, while in Navarre and La Rioja fell 7.6% and 6.2%, respectively, as shown in the graph above. In terms of absolute terms, Andalusia leads the drop in unemployment, with 28,500 unemployed less, followed by Catalonia, with 15,300 less, and the Valencia Community, with 12,300 less.

Regarding benefits, the month of April was closed with 2.17 million beneficiaries and the expenses of the system were reduced by 49.4% compared to April 2020, to 2,500 million euros, although the average expenditure per beneficiary has barely increased 6.2 euros, to a total of 1,180.7 euros. Meanwhile, expenditure on ERTE benefits fell to its lowest level in April, at 632 million euros.

In regard to the figures of occupation, Social Security has been posted 19,06 million members in may in terms desestacionalizados, which represents a 0,24% more than in April or 45.400 affiliate and their greatest record since December of 2020, while in terms of means, without adjustment for calendar effects, recorded an average of 19,27 million members, 211.900 paying more than the average of April and the highest figure since December, 2019.

In this way, the average membership has managed to surpass prepandemia figures, even exceeding by 17,000 members the registration of February last year, while discounting the calendar effect the seasonally adjusted membership is still 50,000 members below the total it showed in March 2020 and more than 410,000 less than in February of the previous year.

However, the membership data have not improved in a generalized way in all economic activities, given that the services sector added 29.500 busy, the industry —which the Ministry of Inclusion, Social Security and stresses that it is his eleventh consecutive month the upside— added 8.700, and the construction contributed 5,000 more, while agriculture, livestock and fisheries lost 6.100 active workers.

Divided by sectors, the variety is even greater, with an increase of 2,12% in forestry, the 1,72%, leather and footwear, and a 1,67% in support activities for mining and quarrying industries, in both the major setbacks in the number of affiliates you have registered in travel agencies, with a 2.27 per cent less, arts and entertainment, with a 2,02% less, postal activities, with a 1,91% less and rental, with a 1.8% less.

In May, the general regime had almost 200,000 employees, to a total of 15.9 million employees, while the ministry noted that the number of self-employed persons had increased steadily for the eighth consecutive month, with 15,000 more self-employed persons than in April, to a total of 3.3 million self-employed persons. By communities, the rise in membership has been widespread, led by the Balearic Islands, with an increase of 5.7%, and Murcia, with an increase of 2.3%.

In addition, the Ministry of Inclusion and Social Security points out that in the last 12 months "have been recovered 711.092 affiliated media, an increase of 3,83%, after the impact of the pandemic", recalling the strong impact of the coronavirus on the labor market in may of 2020, when the unemployment recorded its first all-time high in this month, and despite the fact that the membership recovered 187.000 affiliates, its largest increase since 2015, while 3 million workers were in ERTE.