- NEWS FEATURE
Why fossil fuel subsidies are so hard to kill
- Jocelyn Timperley
Jocelyn Timperley is a freelance climate journalist in San José, Costa Rica.
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Fossil-fuel subsidies are one of the biggest financial barriers hampering the world’s shift to renewable energy sources. Each year, governments around the world pour around half a trillion dollars into artificially lowering the price of fossil fuels — more than triple what renewables receive. This is despite repeated pledges by politicians to end this kind of support, including statements from the G7 and G20 groups of nations.
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Nature598, 403-405 (2021)
doi: https://doi.org/10.1038/d41586-021-02847-2
References
International Energy Agency.Net Zero by 2050: A Roadmap for the Global Energy Sector (IEA, 2021).
Geddes, A.et al.Doubling Back and Doubling Down: G20 Scorecard on Fossil Fuel Funding (International Institute for Sustainable Development, 2020).
Parry, I., Black, S. & Vernon, N.Still Not Getting Energy Prices Right: A Global and Country Update of Fossil Fuel Subsidies. IMF Working Paper WP/21/236 (International Monetary Fund, 2021).
Zimmer, M., Kuhanathan, A. & Badre, A.Abolishing Fuel Subsidies in a Green and Just Transition (Allianz, 2021).
European Commission.Energy Prices and Costs in Europe (EC, 2109).
Energy Sector Management Assistance Program.Energy Subsidy Reform Facility Country Brief: Egypt (World Bank, 2017).
Kuehl, J.et al.Cutting Emissions Through Fossil Fuel Subsidy Reform and Taxation (International Institute for Sustainable Development, 2021).
UN Environment Programme.Emissions Gap Report 2018 (UN, 2018).
Taylor, M.Energy Subsidies: Evolution in the Global Energy Transformation to 2050 (International Renewable Energy Agency, 2020).
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