Rio+20: A Pledge to Phase Out Fossil-Fuel Subsidies
While negotiating time is running short, the IISD believes that Rio+20 – the next U.N. Conference on Sustainable Development, 20-22 June 2012 – can be a success with the help of a few high-impact initiatives.
As one such initiative, IISD has proposed a national pledge (PDF - 1.68 MB) for U.N. member countries to phase out fossil-fuel subsidies that undermine sustainable development. If adopted, it will contribute to both themes of the conference: subsidy reform sets the right incentives in place to promote a green economy, dissuading fuel-intensive economic activity and levelling the playing field for renewables; as well as freeing up the valuable fiscal resources that are needed to create the institutional frameworks for sustainable development, such more targeted measures to support low-income households, or institutional mechanisms to reduce greenhouse gas emissions.
IISD proposes that countries pledge to:
- Phase out fossil-fuel subsidies that undermine sustainable development.
- Assist other countries to phase out fossil-fuel subsidies that undermine sustainable development.
Implementation of the pledges would be considerably strengthened by the adoption of supporting measures. It is recommended that countries commit to providing: transparent, annual reporting and review; technical and financial assistance for developing countries; common research and analysis; and Secretariat support.
The Global Subsidies Initiative has now submitted a proposal to the Rio+20 process. We thank other organisations who showed their support by co-signing the submission. If you would like more information about the submission, please contact: Kerryn Lang, klang@iisd.org +41 22 917 8920.