COP 27 Side Event | Measuring Fossil Fuel Subsidies in the Context of the SDGs: Increasing transparency in times of high energy prices
Fossil fuel subsidies have many negative economic, social, and environmental consequences. Under SDG 12, United Nations member states committed to rationalize inefficient fossil fuel subsidies. To measure progress on this
The OECD Paris Collaborative on Green Budgeting and the Coalition of Finance Ministers for Climate Action will host a virtual meeting on Green Budgeting on Thursday 3 November 2022 at
Climate finance committed by major multilateral development banks (MDBs) rose by more than 24% last year compared to 2020, according to the 2021 Joint Report on Multilateral Development Banks’ Climate Finance released
Update on Recent Progress in Reform of Inefficient Fossil-Fuel Subsidies that Encourage Wasteful Consumption 2021 (OECD, IEA)
This report informs on latest trends in 2020 data on support for fossil fuels and offers good practices and lessons learned emerging from country experiences, as reflected in the growing body of G20 peer reviews.
Mapping India’s Energy Subsidies 2021: Time for renewed support to clean energy (IISD, GSI and CEEW)
This report examines how the Government of India has used subsidies to support the various energy sectors in India since announcing its renewable energy target of 175 GW by 2022,
Research on climate economics finds that green bonds can accelerate a low-carbon transition, may have a positive impact on aggregate output and employment, help to advance renewable energy technology, address better the issue of fair transition, and be a stabilizing force on the financial market compared to conventional, in particular fossil fuel-based, assets.
Model-based studies on the effect of carbon taxation point to sizeable inflationary effects. This column uses evidence from Canada and Europe over the past three decades to show that carbon taxes changed relative prices but did not increase the overall price level. Instead, they were slightly deflationary. Income compression was most pronounced among the richest households, suggesting that the redistribution scheme achieved its intended aim of favouring low-income households.
Strict lockdowns across the globe in response to the COVID-19 crisis have led to severe economic consequences. Compared to 2019, the global GDP in 2020 fell by 4.3 %, the