U.N. On Climate Change Crisis: For Every Dollar Pledged, $4 Was Spent On Fossil Fuel Subsidies

The world spends $423 billion a year on fossil fuel subsidies, according to a report from the U.N. to promote its Don't Choose Extinction campaign. The campaign, meant to raise awareness about the environmental impact of fossil fuels, partners with celebrities Jack Black, Eiza González, Nikolaj Coster-Waldau and Aïssa Maïga to promote the cause.

By the U.N.'s estimate, about $1 is pledged to tackle climate change in low-income countries for every $4 spent on fossil fuel subsidies. It says the world has largely not lived up to its $100 billion promise to tackle climate change.

In low-income countries, half of the public...