Oil Change International

Exposing the true costs of fossil fuels

RELEASE: Civil society organisations join forces to call for G20 to end fossil fuel subsidies by 2020

FOR IMMEDIATE RELEASE

28 JUNE 2016

CONTACT:
Alex Doukas, alex [at] priceofoil [dot] org

Civil society organisations join forces to call for G20 to end fossil fuel subsidies by 2020

More than 200 civil society organizations have joined together to urge G20 governments to commit to end fossil fuel subsidies by 2020. The statement comes ahead of this week’s meeting of the G20 energy ministers – including the US – discussing investments in sustainable energy. It also comes at the same time that a bill that would curb some of the worst US fossil fuel subsidies – the FAIR Energy Policy Act – is in front of the Senate.

Environmental groups, campaigners and researchers have come together to sign a joint statement which calls for governments to set a clear timetable to phase out fossil fuel subsidies as well as public finance for oil gas and coal production.

The statement also urges G20 governments to commit to full transparency about fossil fuel subsidies from 2017 onwards and to include all commitments in the 2016 G20 communique ahead of this year’s summit in September.

Recent research by the Overseas Development Institute and Oil Change International found G20 governments spend nearly $450 billion every year to support fossil fuel production.

Steve Kretzmann, Executive Director at Oil Change International said: “These polluting, wasteful fossil fuel subsidies should have ended years ago. World leaders can’t say they’re serious about climate change if they don’t commit to ending fossil fuel subsidies by 2020.”

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