Letter from the Green Economy Coalition to G-20 Ministers of Finance
Fossil-fuel subsidies contribute directly to climate change, cost hundreds of billions of dollars each year and create artificial barriers to sustainable development. "These subsidies are a massive diversion of public funds that could be better spent in other ways," says Halle. "Subsidies create false impressions about the relative cost of lower-carbon energy alternatives and this is bringing us closer to irreversible climate change."
In September, G-20 leaders meeting in Pittsburgh agreed to phase out these subsidies over the medium term. The Green Economy Coalition welcomes that move but calls for greater urgency in implementing the phase-out and outlines ways to ensure that a reform of subsidies will protect the welfare of the poorest.
Participating experts
You might also be interested in
Sustainable Asset Valuation of Sherwan Hill Adventure Park in Abbottabad, Pakistan
This report analyzes the social, economic, and environmental benefits of the Sherwan Hill Adventure Park in Pakistan.
December 2024 | Carbon Minefields Oil and Gas Exploration Monitor
In November 2024, 23 oil and gas exploration licences were awarded across five countries, with Russia granting the licences that account for the largest portion of embodied emissions.
Toward a Coherent, Transformative Approach to Financing Sustainable Development, Climate, and Nature
Four key proposals for the Fourth Financing for Development Conference (FfD4) to create an integrated, equitable approach to financing climate, nature, and development goals.
Green Public Procurement in India
This report analyzes the status of green public procurement (GPP) in India and suggests key strategies for advancing sustainable procurement practices.