9 November 2017 – In April 2017, prime ministers of the Nordic countries launched a joint initiative – Nordic Solutions to Global Challenges. Fossil fuel subsidy reform was presented as a key priority of Nordic Climate Solutions, alongside Nordic Green to Scale, an initiative that explores the potential of scaling-up 15 existing climate solutions by 2030.These solutions could reduce emissions by 4.1 gigatonnes in 2030 at a cost equal to a nine days of current global fossil fuel subsidies. The Nordic countries’ approach to fossil fuel subsidy reform focuses not only on the emissions reduction potential and economic savings of phasing out harmful subsidies, but also the positive effects governments can achieve by reinvesting the savings. These reductions would be even greater if the savings were invested in sustainable energy measures. Read the full article on the euobserver website.
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