1887

Making the Switch

From fossil fuel subsidies to sustainable energy

image of Making the Switch

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 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.

English

.

Support for fossil fuel subsidy reform

There are numerous reasons for governments to reform current subsidies to fossil fuels. Many governments are recognizing this, and some have reformed their subsidies or are in the process of phasing them out. In 2015 and 2016, with low oil prices, around 50 countries increased or removed government controls on prices of fossil fuels, directly or partially removing subsidies.

English

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error