Tackling Fossil Fuel Subsidies and Climate Change: Levelling the energy playing field
Subsidies for the consumption of fossil fuels were estimated at US$550 billion in 2013, according to the International Energy Agency.
This report by IISD and the Nordic Council of Ministers modeled the impact of removing fossil fuel subsidies in 20 countries between 2015 and 2020. The results show that this alone would reduce national emissions, against business as usual, by an average of 11 per cent. By taking 30 per cent of subsidy savings, and investing in renewable energy and energy efficiency, national emissions are reduced further to an average of 18 per cent by 2020. The report also includes case studies of reform in the Philippines, Morocco and Jordan.
You might also be interested in
Glasgow didn’t deliver on 1.5 C, but not all is lost
The agreement to come out of COP26 is leaving many disappointed for not securing a climate-safe future, but some progress was made that advocates say shouldn’t be ignored.
Experts call for Improved Protection of African Fisheries
With subsidies of global fisheries back on the World Trade Organization's agenda, experts are calling for African governments to upscale the protection of the sector long plagued by activities that continue to threaten the continent's blue economy.
IISD Welcomes Launch of Beyond Oil and Gas Alliance, Honoured to Host its First Permanent Secretariat
Nine governments today took the critical first step towards phasing out oil and gas by becoming Members of the Beyond Oil and Gas Alliance (BOGA).
Why has it been so hard to get fossil fuels mentioned in U.N. climate deals?
The preliminary draft COP26 agreement on how nations will collaborate to curb climate change, released Wednesday, explicitly mentions reducing fossil fuel consumption — unlike previous global climate accords. Whether that language stays in the final document remains to be seen.