Lima COP20 | CMP 10 / CK / Energy / Fossil-Fuel Subsidies and Climate Change
17-02-2015 Energy

Fossil-Fuel Subsidies and Climate Change

Fossil-Fuel

by Laura Merrill, Melissa Harris, Liesbeth Casier, and Andrea M. Bassi, for the Global Subsidies Initiative (GSI) of the International Institute for Sustainable Development (IISD)

Every year governments spend $543 billion subsidising fossil-fuels. This report finds that removing these subsidies could lead to global GHG emissions reductions of between 6-13% by 2050. With potential domestic savings to government of between 5-30% of expenditures, and in the context of the low oil price many governments are removing subsidies. This report shows how to include national emissions reduction estimates within country contributions towards the UNFCCC using the Global Subsidies Initiative – Integrated Fiscal (GSI-IF) model.

Read the paper here