A new report provides a summary for decision-makers on how much money could be saved from fossil-fuel subsidy reform in 24 OECD countries.

While there are large gaps in the data provided by governments—highlighting the need for transparency—the report shows that countries like the USA, Germany, Australia, Mexico and the UK could save between 4 and 12 billion Euros a year by phasing out their government support to fossil fuels.

The report by Yves Cochet, Member of the European Parliament, and Elise Buckle, Manager of SustainEnergy, stresses that reforming fossil-fuel subsidies would lead to a significant cut in greenhouse-gas emissions, while freeing up money to be invested in a clean energy, green jobs, as well as other public goods.

The report synthesizes the existing knowledge on fossil-fuel subsidies by presenting brief profiles of these subsidies in selected EU and G 20 countries.

The report does not prescribe policy measures for how the reforms should be implemented at the national level, explaining that these decisions need to be taken by policy-makers who understand the national context. However, in the lead up to Rio + 20 and the G 20 summit, the authors offer suggestions for policy language that could be adopted by the international community to create an enabling environment for policy reforms at the national level.

Download: “Fossil fuel subsidies and government support in 24 OECD countries: Summary for decision-makers”

For more information, contact:
Elise Buckle
Sustain Energy - Sustainability Services Manager
+41 79 278 48 90
elisebuckle@gmail.com