Environmental marketing firm concerned by G20 funding for fossil fuels
Two leading think tanks have revealed that an estimated $88bn per year is being spent by G20 governments on locating oil, gas and coal reserves, despite better returns on renewable energy.
The research states that public subsidies are keeping fossil fuel exploration afloat when it would otherwise be considered unprofitable. This is concerning when significant evidence suggests that existing reserves must be left alone, in order to avoid dangerous levels of climate change.
The report also outlines how the cost of renewables is falling, with increases in return on investment. Every $1 in renewable energy subsidies attracts a $2.50 investment, while $1 in fossil fuels subsidies only draws $1.30 of investment. Content Communications, a low-carbon PR expert, advises UK businesses to stay ahead of the curve on investment in low-carbon technologies.
Joanna Watchman, Managing Director of the environmental marketing specialist, says: “Our work as a green-tech marketing specialist has demonstrated the potential of energy-efficient and renewable technologies. We look forward to supporting firms to better communicate the associated financial and environmental benefits of their products, alongside the inevitable increase in interest.”