India, June 29 -- Fossil fuel subsidies, which had been on a downward trend globally, are on track to reach US$1.1 trillion in 2026 - US$410 billion more than in 2025 - since the West Asia conflict and countries with no stake in the ongoing geopolitical conflicts are watching their potential for future growth being absorbed by the fallout, top global development officials highlighted at the Hamburg Sustainability Conference that opened in Germany on June 29.

Gathering around 1,600 participants from 115 countries - including German Federal President Frank-Walter Steinmeier, 22 ministers, 13 high-level representatives of international organisations, and more than 280 executives from the private sector, the two-day conference convened under...