More than £494bn subsidies a year are harmful to the climate, says report

ActionAid says parasitic behaviour' is fuelling the climate crisis and represents corporate capture' of public finance

More than $650bn (494bn) a year in public subsidies goes to fossil fuel companies, intensive agriculture and other harmful industries in the developing world, new data has shown.

The subsidies entrench high greenhouse gas emissions and are fuelling the destruction of the natural world, according to a report from the charity ActionAid.