Green view: How to save $300 billion

Attributed Authors: Economist online Published: Nov 2010
 
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LAST time it met, in 2009, the G20 took a stand against a little discussed problem that unites environmentalists and economists: fossil-fuel subsidies. Over the course of the subsequent year, the nations contributed to a list of the “inefficient” subsidies they supported and the things they planned to do about it. So far, this list is unimpressive. According to an analysis of the G20 documents by Doug Koplow, who works with an environmental watchdog called Oil Change International, many of the countries are reporting only superficially, and the standards against which they measure themselves are far from uniform. Most damningly, none has as yet put a new subsidy-cutting policy on the table.

Nice write-up of the Earth Track/Oil Change G20 report, with a good overview of the role subsidy reform could play in addressing global warming.  One correction:  Koplow is with Earth Track, not Oil Change.

Tags: subsidy reform G20 fossil fuels