"Investors and insurers with more than $2.8 trillion in assets under management on Wednesday called on the Group of 20 economies to phase out fossil fuel subsidies by 2020 despite U.S. doubts about climate change.
G20 nations should work 'to accelerate green investment and reduce climate risk', they wrote on the eve of a two-day meeting of G20 foreign ministers in Germany to prepare a summit in Hamburg in July.
The summit should set a clear timeline 'for the full and equitable phase-out by all G20 members of all fossil fuel subsidies by 2020,' the 16 signatories wrote."
Alister Doyle reports for Reuters February 14, 2017.
Source: Reuters, 02/15/2017
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