Next Big Future reports that:
Worldwide subsidies for fossil fuels, which at $523 billion are six times higher than subsidies for renewable energy. The fossil fuel subsidies do not include giving fossil fuels a free ride on air and water pollution.
Some estimate that China is losing about 7% of its GDP due to environmental damage for air and water pollution. A rough estimate is that air and water pollution from fossil fuel is costing the world about $1.4 trillion (2% of global GDP)