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  • For the IEA views, fossil fuel subsidies reduction is extremely important, really because it accomplishes three different but interrelated objectives: first, it helps support energy security, because the countries that reduce their consumption, their wasteful consumption of fossil fuels do not have to import these fuels as much and therefore their energy security is improved. Secondly, it helps reduce emissions; the IEA  did some work prior to the previous COP in which we outline five measures that can help the global community to actually peak emissions as early as 2020 and removing fossil fuel subsidies was one of the most important measures that countries can take to accelerate the energy transition. And the third point is that it supports economic growth because the bulk of fossil fuel subsidies actually go to the upper 20 percent of the population. And those resources, if diverted, could accomplish other tremendous economic objectives for the bulk of the population.

  • Fossil fuel subsidies are not producing any global public good, especially in developing countries. But in the contrary, by keeping prices artificially low, they are encouraging inefficiencies and waste for consumption. In fact they are hampering innovation in technology and improvement on a wider front

  • We need to remove fossil fuel subsidies, right now. Or, in other words, we need to establish the right economic incentives to move towards all the way sustainable projects in particular in infrastructure. That implies putting a price on carbon, everywhere.

  • Fossil fuel subsidy reform is the missing piece of the climate change puzzle. It’s estimated that more than a third of global carbon emissions, between 1980 and 2010, were driven by fossil fuel subsidies. Their elimination would represent one seventh of the effort needed to achieve our target of ensuring global temperatures do not rise by more than 2°C. As with any subsidy reform, change will take courage and strong political will, but with oil prices at record lows and the global focus on a low-carbon future – the timing for this reform has never been better.

  • Countries need to demonstrate with concrete actions and policies that they are serious about combating climate change. Reforming harmful fossil-fuel support is a good place to start.

  • These subsidies contribute to the inefficient use of fossil fuels, undermine the development of energy efficient technologies, act as a drag on clean, green energy deployment and in many developing countries do little to assist the poorest of the poor in the first place. The huge sums involved globally could be better spent on schools, health care, renewable energies and building resilient societies. The current, very low oil prices are a good opportunity to really get going on this issue.

  • Climate change is arguably the world’s most critical contemporary market failure. It has significant consequences for people, the planet and the profitability of a broad range of companies – including insurers. Fossil fuel subsidies fan the flames of this market failure. We believe the subsidies should be phased out as soon as possible. We are proud supporters of the Fossil Fuel Subsidy Reform Communiqué.

  • Climate change is arguably the world’s most critical contemporary market failure. It has significant consequences for people, the planet and the profitability of a broad range of companies – including insurers. Fossil fuel subsidies fan the flames of this market failure. We believe the subsidies should be phased out as soon as possible. We are proud supporters of the Fossil Fuel Subsidy Reform Communiqué.

  • CMIA believes strongly that the playing-field for clean energy needs to be levelled. This can be achieved partly through the removal of fossil fuel subsidies around the world. We are therefore delighted to become an official supporter of the Fossil Fuel Subsidy Reform Communiqué, an initiative whose time we believe has come.

  • “The Republic of Croatia is strongly committed to the implementation of obligations assumed within the frame of Multilateral Environmental Agreements, including the UN Framework Convention on Climate Change, as well as very rigorous regulations for the European Union. Croatia is taking major steps towards the resilient, low carbon economy and society. Therefore, we welcome all the efforts undertaken with the aim of elimination of subsidies that are harmful for the environment.

    Accordingly, we find Fossil-Fuel Subsidy Refrom Communique to be a valuable contribution to the global actions for air and climate protection, and therefore I am pleased to express Croatia’s support to this commendable initiative.”

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