Fossil-Fuel Subsidy Reform Communique
The elimination of fossil-fuel subsidies would make a significant contribution to this shared objective.
By keeping prices artificially low, fossil-fuel subsidies encourage wasteful consumption, disadvantage renewable energy, and depress investment in energy efficiency. Fossil-fuel subsidy reform also has both economic and environmental benefits, thereby supporting our shared global commitment to sustainable development.
There is now an urgent need to convert these high-level commitments into practical action. This should be informed by the following three interrelated principles:
- Communication and Transparency about the merits of subsidy policies and reform timetables, including through engagement and communications with the general public and civil society stakeholders to ensure a smooth, inclusive, bottom-up approach to reform;
- Ambition in the scope and timeframe for implementing reforms; and
- Targeted support to ensure reforms are implemented in a manner that safeguards the poorest.
This Communiqué invites all countries, companies and civil society organizations to join us in supporting accelerated action to eliminate inefficient fossil-fuel subsidies in an ambitious and transparent manner as part of a major contribution to climate change mitigation.
You might also be interested in
The Final Countdown: How Canada can end fossil fuel subsidies this year
The conversation on ending fossil fuel subsidies in Canada has been hanging like a dark cloud over the country, with years of pledges failing to lead to concrete action. But the skies may finally clear in the coming months with the release of Canada's long-awaited subsidies framework and policy.
Implementing Solar Irrigation Sustainably
This guidebook provides recommendations to state policy-makers on how they can implement solar irrigation models, particularly decentralized solar plants for irrigation under the PM-KUSUM scheme, effectively and sustainably.
Agrivoltaics in India
This background paper assesses the current state of development of agrivoltaics in India and identifies the challenges and opportunities for its commercialization.
Source to Sea: Integrating the water agenda in 2023
2023 could prove to be a definitive year for facilitating an integrative perspective on water issues, from fresh water to the marine environment.