COP 26 Side Event | The Subsidy Swap: Reform and reallocate subsidies from fossil fuels to deliver a fair energy transition

Nordic countries have been trailblazers in implementing environmental fiscal policies including reforming fossil fuel subsidies, pricing carbon, and supporting renewable energy. Hosted by IISD, this hybrid COP 26 side event at the COP 26 Nordic Pavilion will explore how the Nordic experience can inform fiscal policy in the Global South and make the case for subsidy reform and reallocation to clean energy across the globe. Particular focus will be given to experience from South Africa where a coal dominated energy sector coupled with severe energy access challenges presents a number of key challenges for reform.

This event will include presentations of the latest research in this area and a Q&A session, answering:

• What difference would it make to the climate if fossil fuel subsidies could be reformed and reallocated?
• Which countries have managed to transform their fiscal systems to enable a clean energy transition and how did they manage this?
• How can Nordic experience be applied elsewhere?  

For those attending COP 26 in person, please join us in Hall 4 of the SEC Centre in Glasgow. The event will also be livestreamed on multiple platforms. We invite all to tune in virtually via the Nordic Council Facebook page or the We Don’t Have Time online COP 26 platform.

Agenda

Welcome and introduction from the Moderator
Richard Bridle, Senior Policy Advisor, IISD

Opening remarks
Mary Gestrin, Head of Communications Nordic Council of Ministers

Transforming energy, transforming the fiscal system: Clean energy and environmental fiscal reform in Sweden
Sebastian Carbonari, Head of Section Ministry of the Environment Climate Division

Global trends in fossil fuel subsidy reform
Nathalie Girouard, Head of Division for Environmental Performance and Information, OECD Environment Directorate

Reform and reallocate: Swapping subsidies for a fair energy transition 
Chido Muzondo, Policy Advisor, IISD

Response: A youth perspective on subsidies and tax
Nadia Gullestrup Christensen, Danish Climate Youth Ambassador

Q&A session