CEM and ECPA Side Event

Fossil Fuel Subsidy Reform and Investments in Clean and Affordable Energy

Recent developments in fossil fuel subsidy reform and discussion of how to sustain the progress made, should oil prices rise again. Discussion of the role fossil fuel subsidy reform to promote clean energy, the challenges to developing successful compensation policies to ensure the affordability of energy products and mechanisms for investing subsidy savings into clean energy solutions that help mitigate the impact of subsidy reform on end consumers.

The Friends group was formed in June 2010 to support G20 and APEC leaders’ commitments to phase out inefficient fossil fuel subsidies. The Friends encourage the G20 and APEC to implement their initiative as soon as possible, with maximum ambition and transparency.

Friends of Fossil Fuel Subsidy Reform are

  • Costa Rica
  • Denmark
  • Ethiopia
  • Finland
  • New Zealand
  • Norway
  • Sweden
  • Switzerland
  • Uruguay