A new report is out from the Nordic Council of Ministers on fossil fuel subsidies and climate change, with case studies from Ethiopia, Morocco, the Philippines, Peru and the Nordics.
‘Learning from Leaders: Nordic and International Best Practice on Fossil Fuel Subsidy Reform.’
If we aim to reduce global emissions in order to limit global warming to less than 2°C above pre-industrial levels, then the energy sector is of paramount importance. A critical change will be national fuel switching away from carbon-intensive sources and increased effort towards energy efficiency and sustainable energy. Subsidies and support from governments to fossil fuels encourage the opposite.
Many countries and regions are making this switch: from subsidising fossil fuels and towards investing in sustainable energy. This brochure describes how Ethiopia, Morocco, Peru and the Philippines have reformed their subsidies. It also describes how countries including Denmark, Finland, Norway and Sweden have introduced innovative policy instruments to encourage switching towards renewable and sustainable energy.
If you wish to consult the report, it can be found here.
To share the report, please click here to retweet.
Associate, Communications, with the Global Subsidies Initiative (GSI)
International Institute for Sustainable Development (IISD)