The Elephant in the Room: How the G20 can veer from record fossil fuel support

In 2009, G20 governments committed to phasing out and rationalizing inefficient fossil fuel subsidies in the medium term, but 14 years later, the countries spent a record amount of public money to support coal, oil, and gas. What’s more, the issue of fossil fuel subsidies is notoriously absent in this year’s G20 agenda ahead of the Delhi Summit in September. With extreme weather events increasingly ravaging the globe, there is an urgent need to reduce our reliance on fossil fuels by shifting public financial flows away from them to directly support people and speed up the clean energy transition instead.

This webinar offered a first glimpse at the findings of a new study by the International Institute for Sustainable Development (IISD) and partners, examining the volume of public financial support for fossil fuels in the G20 last year. The event provides insights into how G20 countries can honour their subsidy reform commitments, with speakers taking a close look at the trends, challenges, and opportunities associated with ending public support for fossil fuels.

Agenda

Welcome

Aarti Khosla, Founder and Director, Climate Trends

Fanning the Flames: Study overview

Tara Laan, Senior Associate, IISD

Panel Discussion 

Diala Hawila, Programme Officer, International Renewable Energy Agency

Nate Vernon, Economist, International Monetary Fund

Livi Gerbase, Policy Advisor, Instituto de Estudos Socioeconômicos

Matthew Watkinson, Executive Director of Current Analysis and Economic Research, Environment and Climate Change Canada

Q&A

Closing Remarks

Shruti Sharma, Senior Policy Advisor, IISD