25/01/2024
WORLD ECONOMIC FORUM REPORT.
Clean air projects are now receiving more funding than fossil fuel. In 2021 air quality project received $2.3 billion in international developmental funding. $800 million more than went to fossil fuel products. According to a new report from the clean air fund, this represents a huge drop from just two years previously when development funding for fossil fuel projects peaked at $11.9 billion. Experts say this could be a sign the tide is turning on fossil fuel financing . However, the report also shows a huge shortfall in funding for clean air projects. Air pollution kills 7 million people prematurely every year. Each $1 spent on clean air can generate $30 in economic benefits, yet clean Air projects attracted just 0.7% of international development finance between 2015 to 2021. The report also showed that many countries are being left behind. 86% of clean Air funding from 2015 to 2021 went to just five countries China, the Philippines, Bangladesh, Mongolia, and Pakistan. China alone received 37% of global clean air funding over that time, Africa has received only 5% despite they have 5 of the world 10 most polluted countries. Experts say more investment in air quality monitoring and analysis could help correct this imbalance by generating data that can be used to target interventions more effectively and mobilize public and political support for taking action. The world Economic forums’ Global Future Council on clean air aims to increase funding for air quality globally to deliver the health climate benefits we need to see.
How clean is the air where you live?
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