Governments Should Phase Out Fossil Fuel Subsidies or Risk Lower Economic Growth, Delayed Investment in Clean Energy and Unnecessary Climate Change Pollution

Few concrete steps have been made to fulfill commitments by the G20 leaders in 2009, and more than 50 countries since, to eliminate fossil fuel subsidies. Although the G20 commitment was an important first step which led to a broader international coalition, the lack of a timeline and an organization that could monitor and assist countries in the implementation of their commitments has limited its practical effect on the phase out of fossil fuel subsidies. In fact, governments are expected to spend nearly three times more money subsidizing fossil fuels than they did in 2009.