The Friends of Fossil Fuel Subsidy Reform (Costa Rica, Denmark, Ethiopia, Finland, New Zealand, Netherlands, Norway, Sweden, Switzerland, Uruguay)
We, the Friends of Fossil Fuel Subsidy Reform, lend our voice to the UNDP campaign “Don’t Choose Extinction” that calls for an end to spending public funds on fossil fuel subsidies every year.
In light of the findings of the latest IPCC report, which highlight the rapid changes caused by human-induced global warming, there is an urgent need for increased ambition and immediate climate action. Fossil fuel subsidies distort markets, promote wasteful consumption of fossil fuels, and slow the transition to clean energy. Fossil fuel subsidy reform is a critical tool that countries and economies need to adopt urgently in their responses to climate change. We recognise that fossil fuel subsidy reform needs to take fully into account the specific needs of vulnerable groups and minimise possible adverse impacts on their development in a manner that protects the poor and the affected communities.
We support the spotlight that UNDP is bringing to this issue at this critical time and will be continuing to promote the role that fossil fuel subsidy reform should play in climate action.
[October 27, 2021]