> World Bank seeks to reduce subsidies for fertilizers, fuel at COP30 / 372X7YD
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World Bank seeks to reduce subsidies for fertilizers, fuel at COP30 / 372X7YD
Clip ID 2273470
Creator AFP
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The world spends about 1.5 trillion dollars annually on subsidies for agriculture, fuel, and fishing — a significant investment that should be redirected toward new techniques that are less harmful to the environment, according to the World Bank.
"The problem is that after a while, these subsidies are actually putting too much nitrogen fertilizer into the soil," says Valerie Hickey, the World Bank's climate change group director, in an interview with AFP, adding that "we want to make sure that the money they're getting is helping them make better, safer, and more productive choices." IMAGES AND SOUNDBITES