Fossil fuel policy capture Why this chapter is short—and it still matters Before examining the integrity of public funds for adaptation and resilience, we must acknowledge the upstream obstacles, including subsidies, lobbying, revolving doors, and long-term contracts that favor the use of fossil fuels. These forces slow down decarbonization and distort budgets, crowding out essential investments such as flood control, resilient drainage, and early warning systems. For example, levee upgrades may be delayed and early-warning systems underfunded, leaving communities vulnerable. Think of these distortions as the gravity field around every climate project we will examine later (IPCC). Fossil subsidies are large, sticky, and politically defended Even after the 2022 price shock faded, fossil-fuel consumption subsidies remained enormous: the IEA estimates USD 1.1 trillion in 2023, down from a record USD 1.6 trillion in 2022 but still historically high. The OECD/IEA inventory confirms ...
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