This report by the Global Subsidies Initiative (GSI) estimates fossil fuel subsidies to be around USD 425 billion which represent large lost opportunities for governments to invest in renewable energy, energy efficiency and sustainable development. Removal of such subsidies can lead to carbon emission reductions (6 to 8 per cent by 2050 globally), that can be improved with a switch or “SWAP” towards sustainable energy. This report describes the scale and impact of fossil fuel subsidies on sustainable development, the SWAP concept to switch savings made from fossil fuel subsidy reform towards sustainable energy, energy efficiency and safety nets, and provides potential SWAP outlines for Bangladesh, Indonesia, Morocco and Zambia. The full report is available to download on the website of the Nordic Council of Ministers.
November 13, 2016
September 11, 2017