fossil fuel subsidies News

  • IEA calls for end to fossil fuel subsidies

    The chief economist of the International Energy Agency (IEA) has urged the world to slash hundreds of billions of dollars of fossil fuel subsidies or face the prospect of a catastrophic 3.5 degrees Centigrade rise in global temperatures. "Today $409 billion equivalent of fossil fuels subsidies are in place which encourage developing countries - where the bulk of the energy demand and CO2 ...


    By GLOBE SERIES

  • EU Commission: fossil fuel and nuclear subsidies distort market

    "EU taxpayers gave over EUR26 billion to fossil fuels in 2011, the documents show. It is disappointing to see the figure of EUR35 billion subsidy to nuclear energy being removed by the European Commission prior to publication", stated Justin Wilkes, Deputy CEO of the European Wind Energy Association (EWEA). "The European Commission is overly focused on renewable energy support mechanisms, while ...


    By WindEurope

  • Fossil Fuel Subsidies Hamper Pathway to Inclusive Green Economy, Experts Say

    Fossil fuel subsidies are contributing to fiscal instability and undermining governments' efforts to combat serious economic and environmental challenges, such as climate change, and the transition to an inclusive green economy, according to experts. "Reforming Fossil Fuel Subsidies for an Inclusive Green Economy" is the theme of the two-day event co-organized by UNEP, IMF, GIZ and the ...

  • End fossil fuel subsidies now, says OECD and IEA

    Governments and taxpayers spent about half a trillion dollars last year supporting the production and consumption of fossil fuels. Removing inefficient subsidies would raise national revenues and reduce greenhouse-gas emissions, according to OECD and IEA analyses. The G-20 Leaders in 2009 agreed to phase out subsidies that "encourage wasteful consumption, reduce our energy security, impede ...


    By GLOBE SERIES

  • Closing the $70 Billion Climate Finance Gap – End Fossil Fuel Subsidies

    The world’s developed countries have committed to mobilize $100 billion a year by 2020, from public and private sources, to help developing countries adapt to the impacts of climate change and reduce their emissions. The latest accounting of climate finance shows there is a gap of about $70 billion. Closing that gap is critical to building the trust necessary to ...


    By GLOBE SERIES

  • Renewables expert hits out at electricity supply subsidies for fossil generators

    One of the UK’s leading renewable energy specialists has accused the Government of “gross hypocrisy” over the electricity supply auctions that began this week - less than seven days after the UK signed up to the landmark Lima Accord designed to cut carbon emissions.   The controversial auction - which will see up to £1.8 billion in ...


    By UrbanWind

  • Counting the Cost of Energy Subsidies

    Energy subsidies are projected at US$5.3 trillion in 2015, or 6.5 percent of global GDP, according to a recent IMF study. Most of this arises from countries setting energy taxes below levels that fully reflect the environmental damage associated with energy consumption. The ...


    By GLOBE SERIES

  • Hefty Subsidies Prop Up Unsustainable Energy Systems

    Efforts by a variety of organizations to quantify global support for fossil fuels have generated estimates that range from $523 billion to over $1.9 trillion, depending on the calculation and what measures are included. What is clear is that the level of support has rebounded to 2008 levels following a dip in 2009-10 during the global financial crisis, writes Worldwatch Research Fellow Philipp ...


    By GLOBE SERIES

  • US government focus on fossil fuels and nuclear is out of touch with mainstream America

    Are those in Congress and the White House who embrace the agendas of coal, oil, gas, and nuclear industries in sync … or out of touch … with the mainstream of America? A new survey of 1,049 Americans conducted October 21-24, 2011 by ORC International for the nonprofit and nonpartisan Civil Society Institute (CSI) finds that most Americans - including an often ...


    By GLOBE SERIES

  • Hefty Subsidies Prop Up Unsustainable Energy System

    Efforts by a variety of organizations to quantify global support for fossil fuels have generated estimates that range from $523 billion to over $1.9 trillion, depending on the calculation and what measures are included. What is clear is that the level of support has rebounded to 2008 levels following a dip in 2009–10 during the global financial crisis, writes Worldwatch Research Fellow ...


    By Worldwatch Institute

  • FAO calls for review of biofuel policies and subsidies

    Biofuel policies and subsidies should be urgently reviewed in order to preserve the goal of world food security, protect poor farmers, promote broad-based rural development and ensure environmental sustainability, FAO said in a new edition of its annual flagship publication The State of Food and Agriculture (SOFA) 2008. “Biofuels present both opportunities and risks. The outcome would depend on ...

  • OECD review of energy subsidies and environmental goals

    Eliminating tax breaks and inefficient subsidies for fossil fuels could reduce greenhouse-gas emissions, improve public finances and provide resources for other policy priorities, according to two new OECD reports. Two new OECD reports provide wide-ranging evidence of how reforming subsidies and tax breaks for fossil fuels and rationalising fuel taxes can help countries boost finances and meet ...


    By GLOBE SERIES

  • IMF calls for global reform of energy subsidies

    A new report from the International Monetary Fund (IMF) urges policymakers the world over to reform subsidies for products from coal to gasoline, arguing that this could translate into major gains both for economic growth and the environment. The comprehensive study, Energy Subsidy Reform - Lessons and Implications, estimates that energy ...


    By GLOBE SERIES

  • Frost & Sullivan: Next-Generation Biofuels Set to Displace Fossil Fuels in the Transportation Sector

    The development of second-generation biofuels, which are derived from cellulosic materials and third-generation biofuels developed from algae, has gained traction during the last few years. This is mainly due to strong governmental subsidies and funding programs in Europe and the United States. Second-generation biofuels will soon be available on a commercial scale. Third-generation biofuels ...


  • Food as fuel - are biofuels to blame?

    The United Nations has accused the US and the European Union of having taken the "criminal path" by contributing to an explosive rise in global food prices through using food crops to produce biofuels. This comes in the wake of skyrocketing prices and plummeting food supplies in the developing world. But many questions remain as to whether biofuels are the root cause of the current world food ...


    By GLOBE SERIES

  • Energy minister calls for international cooperation on fuel

    Energy minister Michael Fallon has called for greater international cooperation with regards to the future of oil and gas supplies. In a speech on the topic at Clatham House, which was also based on the theme of maintaining the UK's energy security, the minister emphasised that fact that this kind of collaboration effort will require a significant degree of investment. He added that ensuring that ...


    By Energy Institute (EI)

  • Biofuels Market in the Americas to 2020 - Renewable Fuel Standards and Biofuel Mandates Will Stimulate Investment

    GBI Research’s new report, “Biofuels Market in the Americas to 2020 - Renewable Fuel Standards and Biofuel Mandates Will Stimulate Investment” provides key information and analysis on the market opportunities in the biofuels market in the Americas. The report does a comprehensive evaluation of the market forces influencing the biofuel market. It also focuses on the production ...


  • ReportsnReports - Biofuels Market in the Americas to 2020 - Renewable Fuel Standards and Biofuel Mandates Will Stimulate Investment

    Biofuels Market in the Americas to 2020 - Renewable Fuel Standards and Biofuel Mandates Will Stimulate Investment  GBI Research’s new report, “Biofuels Market in the Americas to 2020 - Renewable Fuel Standards and Biofuel Mandates will stimulate ...


  • WBA Declaration to COP22

    The World Bioenergy Association (WBA) proposes fossil exit strategy with a carbon tax as they key message to the delegates at COP22 in Marrakech. The World Bioenergy Association (WBA) calls on the delegates attending the 22nd Conference of Parties (COP22) at Marrakech, Morocco to act now with a managed yearly decline of fossil fuel use and implementing a carbon tax in each country to achieve the ...

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