In an article on The Conversation website, Chamu Kuppuswamy, Senior Lecturer, School of Law, at the University of Hertfordshire argues that, while withdrawing from the energy charter treaty is possible for any country to do, losing the benefits of membership – such as fewer duties and taxes on imports of oil and gas – will … Continue reading How important is it to keep the Energy Charter Treaty?
Fiona Harvey gives us a wake up call to pay more attention to so-called green financing in an article on The Guardian website. Only about 6% of pandemic recovery spending has been “green”, an analysis of the $14tn that G20 countries have poured into economic stimulus. Only 6% of G20 pandemic recovery spending ‘green’, … Continue reading Review of G20 fiscal stimulus spending counters many countries’ green pledges to ‘build back better’
Earlier this month, the latest IPCC report gave its starkest climate warning yet. As United Nations Secretary-General António Guterres said, this must sound a "death knell" for fossil fuels, starting with an end to new production and with shifting fossil fuel subsidies into renewable energy. The dire message comes amidst some reasons for hope. We … Continue reading New report on cutting emissions through fossil fuel subsidy reform and taxation
New analysis shows that 16 out of 27 member states are still financing fossil fuel heating, despite calls to phase out gas boilers by 2025 to achieve EU climate neutrality goals. These dirty subsidies cripple the deployment of clean heating technologies such as heat pumps and solar thermal devices. This year, only seven countries – Croatia, … Continue reading New analysis by European Environmental Bureau – EU governments keep fueling dirty heating
Despite an agreement at the G20 in 2009 to eliminate fossil fuel subsidies, the US, China and Russia alone spent US$909 billion (£656 billion) on them in 2017, the most recent year available – that’s nearly 40% more than in 2009. Neil McCulloch, Associate Fellow of Political Economy at the Institute of Development Studies and … Continue reading Energy transition? Many countries still actively subsidise fossil fuel extraction and use
G20 governments are still spending more than half a trillion USD on oil, gas, and coal each year—and the pandemic has likely undone any progress on phasing out this support. In Doubling Back and Doubling Down: G20 Scorecard on Fossil Fuel Funding, researchers considered recovery commitments and pre-pandemic policies to rank G20 countries' progress in … Continue reading New IISD report: G20 backtracks on fossil fuel funding phase-out
If the energy transition is to be effective, support for fossil fuels will need to decrease but Jocelyn Timperley writes on the energymix website that such is not the case so far. Fossil Fuel Subsidies Hit (At Least) $373 Billion in 2015, OECD Reports Countries burned through at least US$373 to $473 billion in … Continue reading New OECD report on inventory of support measures for fossil fuels reveals extent of subsidies
Recent analysis shows that there has been an important shift in subsidies towards sustainable energy in the past decade. Michael Viney explains in an article in the Irish Times. What is the experience in your country? Dramatic shift in environment subsidies towards renewable energy There has been a dramatic shift in environmental subsidies in … Continue reading How sustainable energy subsidies are evolving in Ireland
With the recent dramatic fall in the price of oil, the issue of fuel subsidies comes to the fore again. Alan Beattie writes a good article in the Financial Times about fuel subsidy reform, how subsidies affect our economies and also why it is so hard to remove them. He also shows that there are … Continue reading Why is reforming fuel subsidies so hard?
Seldom do we think about how we should provide subsidies. Iván Martén. senior partner at the Boston Consulting Group, provides three important principles in a recent Wall Street Journal blog. Three Principles for Subsidizing Renewable Energy Renewable-energy production brings extra costs to the power system that should be managed and subsidized in the most … Continue reading How renewable energy should be subsidised