![SWAP_Cover.png](/sites/default/files/styles/featured_box_portrait_mobile/public/publication/SWAP_Cover.png?h=363f53cd&itok=DSn1Xnn8)
Making the Switch: From fossil fuel subsidies to sustainable energy
This report estimates fossil fuel subsidies to be around USD 425 billion. Such subsidies represent large lost opportunities for governments to invest in renewable energy, energy efficiency and sustainable development.
This report estimates fossil fuel subsidies to be around USD 425 billion. Such subsidies represent large lost opportunities for governments to invest in renewable energy, energy efficiency and sustainable development.
Removal of consumer subsidies can lead to carbon emission reductions (6 to 8 per cent by 2050 globally), Reductions that can be improved further with a switch or a "SWAP" towards sustainable energy. This report describes the scale and impact of fossil fuel subsidies on sustainable development. It describes the SWAP concept to switch savings made from fossil fuel subsidy reform, towards sustainable energy, energy efficiency and safety nets. The report provides potential SWAP outlines for Bangladesh, Indonesia, Morocco and Zambia. "Making the Switch" was written for the Nordic Council Ministers by the Global Subsidies Initiative of IISD and Gaia Consulting.
You might also be interested in
New report: Oil and gas phase-out primer
World leaders agreed to transition away from fossil fuels at COP 28, in a new report IISD experts break down what next steps are needed to put this commitment into action.
Copenhagen Climate Ministerial: Expert comment
Around 40 climate leaders and ministers are meeting in Copenhagen from March 21 to 22 to discuss priorities for COP 29.
Carbon Minefields: Oil and gas exploration surging to pre-Covid levels
Oil and gas exploration is booming despite an agreement at last year’s COP 28 climate summit to transition away from fossil fuels.
July Edition | Carbon Minefields Oil and Gas Exploration Monitor
In June 2024, six governments issued 18 oil and gas exploration licences with embodied emissions of 14.7 MtCO2, led by Russia and China.