High-level presentation and technical training workshop on Indicator 12.c.1 of the Sustainable Development Goals for Latin America and the Caribbean – “Amount of fossil fuel subsidies per unit of GDP and as a share of GDP”.
24 and 25 March 2021, 9:00 -13:00 h (Panama time) / 11:00 -15:00 h (Santiago time)
The scale and impact of fossil fuel subsidies imply challenges and opportunities on the path to achieving the 2030 Agenda for Sustainable Development Goals (SDGs). On the one hand, the use of fossil fuels and their promotion through subsidy schemes negatively affects the ability of governments to achieve key goals, such as reducing poverty, improving health, achieving gender equality, access to energy and combating climate change. At the same time, it is necessary to ensure that poor households, which are particularly vulnerable to price increases, can obtain or maintain access to energy.
Sectors of the economy that depend on this type of energy can also be affected, especially by sudden price variations. Therefore, any successful reform requires careful analysis and tailored mitigation measures. On the other hand, reallocating fossil fuel subsidies to development-relevant sectors could boost the achievement of the SDGs.
The importance of this indicator lies in knowing and sizing existing subsidies based on reliable data, which increases transparency and informs decision-making. Reporting on a global indicator, which measures fossil fuel subsidies from consumers and producers, provides a global picture. It also allows tracking of national and global trends, serving as an important guide for policy making.
UNEP and UN ECLAC co-organised this workshop for relevant government stakeholders from all the Spanish-speaking countries in the LAC region. There will soon be a follow-up workshop for the region’s English speaking countries as well. The meeting saw over a 100 participants on both days and string interaction among the panelists/speakers and the government stakeholders from national statistical offices, Ministries of Finance, Ministries of Energy etc.
