New IMF research estimates global fossil fuel subsidies at about $6 trillion, with about 70% from “under-charging” for the environmental costs associated with the fuels, International Monetary Fund Managing Director Kristalina Georgieva told a UN energy summit on Friday. The IMF previously had estimated such costs at about $5.2 trillion in 2017. “The good news is that global carbon emissions would fall by one-third — in line with keeping global warming to 1.5 degrees Celsius — if fossil fuel prices increase to fully reflect environmental and supply costs by 2025,” Georgieva said in prepared remarks to an energy summit on the sidelines of the United Nations General […]