Fossil fuel subsidies contribute to climate change by depressing the price of fossil fuels, encouraging greater production and consumption, and consequently emissions. These hold us back from delivering the Paris agreement and building the sustainable energy systems needed in the 21st century.
As the fossil fuel subsidies are expected to swell following the rapidly rising energy prices, IISD offers a background note on the rationale and international initiatives for the reform of fossil fuel subsidies.
This brief looks at how Indonesia can start actively promoting renewable energy by removing the existing hurdles to its deployment and switching public support from fossil fuels to renewables to meet the country’s clean energy targets.
As the global clean energy transition gathers pace, six emerging economies need to start adjusting their fiscal policies now to account for declining fossil fuel use—or risk a USD 278 billion gap in revenues by 2030, according to a new report by the International Institute for Sustainable Development.