Despite the global push for clean energy, Poland led tax expenditures on coal in 2023 with $853.21 million, showing a year-on-year decrease of 8.18%, indicative of declining coal reliance. The U.S. and UK showed contrasting trends: the U.S. saw stable expenditure changes with a slight increase, whereas the UK’s expenditure grew by 8.97%. Russia and Canada had moderate increases, whereas Germany decreased significantly by 11.24%. Australia and Lithuania showed negligible expenditure changes.
Future trends to watch include the potential for increased investments in renewable energy, policies to further decrease coal dependence, and the impact of geopolitical factors on expenditure. Stricter global climate policies could further accelerate the decline in coal tax expenditures.
Top countries in Tax Expenditure on Coal for Fossil Fuel Production by Country
| # | 8 Countries | Million US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Poland | 853.21 | 2023 | +16.33% | -8.18% | View data |
| 2 | 2 United States | 432.08 | 2023 | +0.22% | +0.4% | View data |
| 3 | 3 United Kingdom | 390.57 | 2023 | +9.91% | +8.97% | View data |
| 4 | 4 Russia | 83.47 | 2023 | +15.69% | +2.44% | View data |
| 5 | 5 Germany | 52.41 | 2023 | -9.35% | -11.24% | View data |
| 6 | 6 Canada | 11.1 | 2023 | -10.5% | +9.98% | View data |
| 7 | 7 Australia | 1.7 | 2023 | +0.3% | +0.8% | View data |
| 8 | 8 Lithuania | 0.007 | 2023 | +16.67% | 0% | View data |
