Article Series: Fossil Fuel Subsidies

Friends of Fossil Fuel Subsidy Reform

Set up in June 2010, Friends of Fossil Fuel Subsidy Reform (the “Friends”) is an informal group of non-G20 countries aiming to build political consensus on the importance of fossil fuel subsidy reform. Current members of the Friends group are Costa Rica, Denmark, Ethiopia, Finland, New Zealand, Norway, Sweden and Switzerland.

The GSI works closely with the group to provide analytical and administrative support and promote fossil fuel subsidy reform internationally. A key feature of this collaboration has been the launch and promotion of the Fossil Fuel Subsidy Reform Communiqué. The Communiqué encourages the international community to advance reform through three interrelated principles: increased transparency around fossil fuel subsidies, greater ambition in the scope of reform and the provision of targeted support for the poorest. More than 35 countries are supporting the Communiqué. The full list of supporters is available here

In recent years, the Friends have worked internationally within forums such as the G20, Asia-Pacific Economic Cooperation (APEC), Organisation for Economic Co-operation and Development (OECD), UNFCCC and the United Nations Sustainable Development Agenda to promote the benefits of reform, and to provide information and tools to facilitate reform.

In promoting fossil fuel subsidy reform, the Friends recognize the political, social and economic challenges related to subsidy reform, and that reform is going to be a long-term, progressive process. The Friends also recognize the importance of taking into account vulnerable groups and their developmental needs. 

The Friends have a proven track record of organizing timely seminars to promote reform and to share country experiences and best practices in implementing energy reform. Across these events, the Friends have involved high-level speakers from countries such as Mexico, Indonesia, Ethiopia, Costa Rica, Egypt, Honduras, Ukraine, Jordan and Angola, as well as international organizations such as the Asian Development Bank, World Bank, APEC, the OECD, International Energy Agency (IEA), International Monetary Fund (IMF) and the Global Subsidies Initiative. 

For more information about the Friends of Fossil Fuel Subsidy Reform and the GSI, please do not hesitate to contact Lasse Toft: ltchristensen@iisd.org

 

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