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Compare that to the $141 billion in the us, it is also way ahead of germany, france and the uk. so can these subsidies really make a difference to climate change and what impact do massive subsidies in one part of the world have elsewhere? let's talk to gareth redman king from the london based energy and climate intelligence unit. gareth, good to have you on the show this week. we are talking about some big numbers. the question is, are they big enough numbers to tackle the climate crisis? they are definitely big enough to make a difference. they may not be quite enough quite yet. the ippc rep...

To boost the green economy. it has announced plans for massive subsidies for green tech to match the near $400 billion already committed by us presidentjoe biden in his signature inflation reduction act. in washington, dc, the issue topped the agenda at the meeting between the eu president and president biden taking precedence even over the war in ukraine. the first topic we discussed is information reduction act and, indeed, we welcome the inflation reduction act because it is a massive investment in the green transition, moving towards a net zero economy. it is mirrored by the green deal ind...

In 2022 alone, more than half a trillion dollars was invested in the sector in china. compare that to the mi billion in the us, it is also way ahead of germany, france and the uk. so can these subsidies really make a difference to climate change and what impact a massive subsidies in one part of the world have elsewhere? let's talk to gareth redman king from the london based energy and climate intelligence unit. gareth, good to have you on the show this week. we are talking about some big numbers. the question is, are they big enough numbers to tackle the climate crisis? they are definitely bi...

Precedence even over the war in ukraine. the first topic we discussed is the inflation reduction act and, indeed, we welcome the inflation reduction act because it is a massive investment in the green transition, moving towards a net zero economy. it is mirrored by the green deal industrial plan in the european union. the amounts of money we are talking about for these subsidies is huge. the american inflation reduction act puts aside $269 billion in subsidies puts aside $369 billion in subsidies and tax credits for clean energy and technology. the aim is to drive up demand for american—made...

We are talking about some big numbers. but the question is, are they big enough numbers to tackle the climate crisis? they are definitely big enough to make a difference. they may not be quite enough quite yet. the ippc reportjust published on the state of climate change globally suggest we need something like three to six times the level of investment we currently have to get on track for net zero, but if you take the us, $369 billion committed under the inflation reduction act alongside a couple of other pieces of legislation with money attached, maybe as much as $500 billion, that is an abs...