While impressive progress is being made in some parts of the world to phase out fossil fuel subsidies, they remain stubbornly persistent: based on our latest estimate they amounted to almost USD 500 billion last year. Fossil fuel subsidies encourage wasteful consumption of finite resources with very detrimental economic and environmental consequences. To make matters worse, the benefits mainly go to richer households as they consume more energy: only 8% of the money spent typically reaches the poorest 20% of the population. I am convinced that subsidy reform can and should be a key pillar of a comprehensive strategy that can lead to a near-term peak in energy-related GHG emissions. I therefore endorse the Fossil Fuel Subsidy Reform Communiqué to Paris COP 21 and I commend this initiative to others.