The research and consulting firm Bloomberg New Energy Finance (BNEF) reports that subsidies for fossil energies are far outweighing those for renewables. While many governments are putting support behind clean energy, the figures show that renewables are still far behind, reports BNEF.

The $43-46bn figure stands in stark contrast to the $557bn spent on subsidizing fossil fuels in 2008, as estimated by the International Energy Agency last month.