Letter from the Green Economy Coalition to G-20 Ministers of Finance
Fossil-fuel subsidies contribute directly to climate change, cost hundreds of billions of dollars each year and create artificial barriers to sustainable development. "These subsidies are a massive diversion of public funds that could be better spent in other ways," says Halle. "Subsidies create false impressions about the relative cost of lower-carbon energy alternatives and this is bringing us closer to irreversible climate change."
In September, G-20 leaders meeting in Pittsburgh agreed to phase out these subsidies over the medium term. The Green Economy Coalition welcomes that move but calls for greater urgency in implementing the phase-out and outlines ways to ensure that a reform of subsidies will protect the welfare of the poorest.
Participating experts
You might also be interested in
Financial Benefit-Sharing Issues for Critical Minerals: Challenges and opportunities for producing countries
Exploring nuances in the key features of critical minerals and the new challenges and opportunities they present to fiscal regulation.
The State of Global Environmental Governance 2023
In global environmental talks in 2023, the focus across nearly all issue areas was funding implementation and reviewing performance.
Monitoring Progress in Green Public Procurement
This report outlines the importance of monitoring progress in green public procurement (GPP) and highlights various methodologies, challenges, and recommendations.
Mapping India's Energy Policy 2023
Mapping India's Energy Policy 2023 is the latest publication in a series of annual updates on government support for energy in India that includes critical data on energy subsidies and taxation.