30 July 2018

HLPF Side Event: Leadership on fossil fuel subsidy reform for sustainable energy access and poverty reduction

On July 18, 2018, we presented a side event at the UN High Level Political Forum (HLPF), “Leadership on fossil fuel subsidy reform for sustainable energy access and poverty reduction”

The side event was organized by New Zealand on behalf of the Friends of Fossil Fuel Subsidy Reform (“Friends”),  with Finland, Switzerland, Sweden and Norway as co-organizers. IISD’s Global Subsidies Initiative coordinated the event.

This side event presented opportunities for financing and delivering the SDGs through fossil fuel subsidy reform, with a focus on sustainable energy access. Speakers presented replicable strategies for fossil fuel subsidy reform with high benefits for poverty reduction, gender and the SDGs. These strategies include better targeting of subsidies and subsidy “swaps,” which entail shifting fossil fuel subsidies toward sustainable energy solutions like renewable energy and energy efficiency, as well as investments in public transport. The event also saw the launch of a report on the interlinkages between energy access and fossil fuel subsidies.

IISD RS Video Coverage

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