The role of Fossil Fuel Subsidy Reform towards achieving Agenda 2030’s sustainable objectives and its impact on trade
The Friends of Fossil Fuel Subsidy Reform is an informal group of non-G20 countries aiming to build political consensus on the importance of fossil fuel subsidy reform. The Friends work internationally within forums such as the G20, APEC, OECD, UNFCCC, Agenda 2030 and the WTO to promote the benefits of reform, and to provide information and tools to facilitate them.
Subsidies for fossil fuels were estimated at USD 425 billion in 2015 and amounted to 20 per cent of the value of internationally traded fuels. A phase-out of fossil-fuel subsidies would generate an estimated 12 percent of the total abatement needed by 2020 from energy sector emissions and holding the increase in global average temperature below 2°C above pre-industrial levels.
This panel will discuss how reforms in this sector could contribute strongly towards achieving SDG goal 12(c) of Agenda 2030 while reducing at the same time significant trade-related distortive effects.
- Álvaro Cedeño Molinari, Ambassador, Permanent Representative of Costa Rica to the WTO
- Valérie Ducrot, Executive Director, World Energy Council – Global Gas Centre
- Ronald Steenblik, Senior Trade Policy Analyst, OECD
- Steven Stone, Chief of the Resources and Markets Branch, UN Environment
- Kimmo Tiilikainen, Minister of the Environment, Energy and Housing, Government, Finland
- Geneva, WTO Headquarters, Room E
Full program available here.