Raising NDC ambition to reach climate action goals: Fossil fuel subsidies, energy pricing and swaps

How much can we reduce greenhouse gas emissions if we raise ambition with second-generation Nationally Determined Contributions?

This panel and discussion will focus on best practices on fossil fuel subsidy reform and pricing based on country experience.

Experts will present results on GHG emission reduction from energy modelling research over 20 countries and consider possible fiscal scenarios to achieve climate action goals. We will take a closer look at fossil fuel subsidyphase-out, modest taxation of fossil fuels, and savings from FFS reforms reinvested into renewables and energy efficiency for a low-carbon energy “swap.” We will hear from countries and organizations working to create an enabling environment for the launch of the low-carbon energy economy to meet the goals of the Paris Agreement.