Fossil Fuel Subsidies Detrimental to Global Climate

A report from the International Institute for Sustainable Development was presented at the  U.N. Geneva Climate Change Conference, held from February 8-13. Fossil-Fuel Subsidies and Climate Change: Options for Policy-makers within their Intended Nationally Determined Contributions argues that removal of fossil fuel subsidies could lead to global GHG emissions reductions of between 6-13% by 2050. The CEO of IISD also stated: “The billions of dollars spent on these subsidies means less money is available for clean energy, health, education and infrastructure”. The report was financed by the Nordic Prime Ministers’ Green Growth Initiative.  The IISD also provides a comprehensive summary of the Geneva meetings.

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