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Fossil Fuel Subsidies & Sustainable Development

From closing the funding gap for universal education, financing global basic healthcare, or staying within the 2° warming target for the planet, there is a huge potential from the phase out of fossil fuel subsidies for sustainable development.

How Fossil Fuel Subsidy Reform Could Get Us on Target Towards Universal Energy Access

Sustainable Development Goal (SDG) 7 calls upon the global community to ensure access to affordable, reliable, sustainable and modern energy for all by 2030. The High-level Political Forum on Sustainable Development (HLPF) in New York noted progress, but also established that the world is still not on track to reach the targets on energy access, energy efficiency and renewable energies.

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Blog: From Paris to Lofoten and Back: A Call for a Managed Decline of the Fossil-Fuel Industry

Two events this September set a new bar for climate change leadership. First, over 340 non-governmental organisations from 67 countries signed the Lofoten Declaration. This document calls for an end to exploration and expansion of new oil, gas and coal reserves, a managed decline of the oil, coal, and gas industry, and a just transition to a safer climate future.

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Blog: Change Makers Leap Forward as Momentum for Fossil Fuel Subsidy Reform Grows

There is a pressing “need for faster reform, urgency and political commitment.”[1] These were the opening highlights of the fifth high-level event on fossil fuel subsidy reform, organized by the Friends of Fossil Fuel Subsidy Reform (“Friends”), Global Subsidies Initiative and the World Bank on April 21, in the context of the 2017 International Monetary Fund and World Bank Spring Meetings held in Washington, D.C.

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Blog: A Low-Hanging Fruit for Financing and Implementing SDGs: End Fossil Fuel Subsidies

Phase-out and reallocation of fossil fuel subsidies (FFS) is a low-hanging fruit for financing and implementing SDGs. First, it has a diverse support base of both sustainable development advocates and “government downsizers.” Second, instead of requiring financing like many sustainable development policies, it could free up hundreds of billions of dollars for implementing multiple SDGs.

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