Report
Letter from the Green Economy Coalition to G-20 Ministers of Finance
Fossil-fuel subsidies contribute directly to climate change, cost hundreds of billions of dollars each year and create artificial barriers to sustainable development. "These subsidies are a massive diversion of public funds that could be better spent in other ways," says Halle. "Subsidies create false impressions about the relative cost of lower-carbon energy alternatives and this is bringing us closer to irreversible climate change."
In September, G-20 leaders meeting in Pittsburgh agreed to phase out these subsidies over the medium term. The Green Economy Coalition welcomes that move but calls for greater urgency in implementing the phase-out and outlines ways to ensure that a reform of subsidies will protect the welfare of the poorest.
Participating experts
You might also be interested in
Strategic Environmental Assessment for the Mining Sector
Strategic environmental assessments (SEA) are an essential tool for policy-makers working to develop a sector-wide vision for responsible mining.
Blackouts and Backsliding: Energy subsidies in South Africa 2023
Blackouts and Backsliding presents the latest energy subsidy data for South Africa.
Sustainable Asset Valuation of Parques del Río Norte in Medellín, Colombia
This economic valuation demonstrates the benefits of expanding urban green space in the city of Medellín, Colombia.
Progressing National SDGs Implementation
An independent assessment of the voluntary national review reports submitted to the United Nations High-level Political Forum on Sustainable Development in 2023.