FOR IMMEDIATE RELEASE
28 JUNE 2016
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.”
Notes to editors
- The statement, signed by more than 200 civil society organizations, can be found here: http://priceofoil.org/content/uploads/2016/06/G20-Fossil-Fuel-Subsidies-Sign-On.pdf
- The meeting of G20 energy ministers will take place in Beijing on Wednesday, June 29, and Thursday, June 30
- The November 2015 report from ODI and OCI, ‘Empty promises: G20 subsidies to oil, gas and coal production’, found G20 governments spent $444 billion a year to support fossil fuel production – via national subsidies ($70 billion), investments by state-owned enterprises ($286 billion) and public finance ($88 billion)
- The G20 Leader’s Summit 2016 will take place on September 4-5 in Hangzhou