The First Year of the G-20's Commitment on Fossil-Fuel Subsidies: A commentary on lessons learned and the path forward
In 2009 and 2010, government efforts to curb fossil-fuel subsidies burgeoned with fossil-fuel subsidy reform becoming a frequent topic on international agendas.
The G-20 and APEC have committed to phasing out inefficient fossil-fuel subsidies and the Friends of Fossil-Fuel Subsidy Reform group of countries was established, to encourage and support the G-20 initiative.Much of the increased activity is a result of the G-20's initiative and continued leadership. But the task of phasing out fossil-fuel subsidies is challenging and takes time. Much remains to be done by the G-20 to fulfil their medium-term commitment, including monitoring the phase-out of subsidies identified for reform.This report offers a commentary on the first year of the G-20's commitment to reform fossil-fuel subsidies and the actions of other governments and organizations that have contributed to the reform movement. It draws lessons that can be learned from that first year and looks ahead at what further progress the G-20 and international community can make to enhance global and national efforts to reduce fossil-fuel subsidies that work against climate change and sustainable development objectives.
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