From closing the funding gap for universal education, financing global basic healthcare, or staying within the 2° warming target for the planet, there is a huge potential from the phase out of fossil fuel subsidies for sustainable development.
March 29, 2007
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Dr. Gerhard P. Metschies
,
Dr. Sascha Thielmann
,
Armin Wagner
Fuel prices, fuel taxation and subsidies for petrol and diesel fuel rank high on the world's political agenda, particularly after the spectacular increases in world market prices for crude oil (up to USD 75 a barrel in August 2006) and the subsequent slide in price to around USD 54 a barrel in January 2007.
The World Wildlife Fund (WWF) has published a series of documents relating to a roundtable on subsidies and sustainable development held in São Paulo, Brazil, last June. The roundtable brought together some 40 experts from academia, international organizations and public and private sectors to discuss the role that subsidies can play in both fostering and hindering sustainable development.