The G20 countries have provided more than $3.3tn (£2.4tn) in subsidies for fossil fuels since the Paris climate agreement was sealed in 2015, a report shows, despite many committing to tackle the crisis.
Category: Policy Insights
The Inter-American Development Bank (IDB) is recommending that finance and planning ministries in Latin American and the Caribbean (LAC) consider fiscal policies to accelerate the transition to green economies and pave the way for the region to meet decarbonisation goals.
Daniel Voces, the managing director of the European Union’s primary fishing industry advocacy group, Europêche, believes members of the World Trade Organization will reach a deal on curbing illegal fishing subsidies this week.
Unpopular among the bloc’s trading partners, countries are seeking exemptions to the carbon levy, as Brussels hints alternatives to pricing may be considered to dodge
The EU is due to propose the biggest revamp of its Emissions Trading System since the policy launched in 2005. Already the world’s largest carbon
The European Union (EU) and China announced sweeping plans this week to dramatically reduce greenhouse-gas emissions to slow the pace of climate change. Many scientists say the
China expects trading to commence on its long awaited national carbon emissions trading scheme (ETS) this month, and sources aware of the plans expect a launch ceremony to be held on Friday.
G20 finance leaders recognized carbon pricing as a potential tool to address climate change for the first time in an official communique on Saturday, taking a tentative step towards promoting the idea and coordinating carbon reduction policies.
Fossil fuel subsidies persist despite the climate crisis. They distort the energy market by keeping fossil fuel prices artificially low. Removing these subsidies must be accompanied by social programmes that will reduce the impact on the poorest household.