Connect with us

Hi, what are you looking for?

CleanTechnica

Policy & Politics

OECD Governments Continue To Subsidize Fossil Fuels

A new report from the Organisation for Economic Co-operation and Development confirms the belief that government subsidies to the fossil fuel industry remain high. 

The new report, OECD Inventory of Support Measures for Fossil Fuels 2015, was revealed earlier this week, and details almost 800 spending programs and tax breaks currently used by governments throughout the 34 Organisation for Economic Co-operation and Development (OECD) countries, as well as 6 additional emerging G20 nations (Brazil, China, India, Indonesia, Russia and South Africa). 

“The time is ripe for countries to demonstrate they are serious about combating climate change, and reforming harmful fossil fuel support is a good place to start,” said OECD Secretary-General Angel Gurría.

fossil fuels 2015-384x256

In her speech at the launch event for the report, Gurria continued:

“Governments are spending almost twice as much money supporting fossil fuels as is needed to meet the climate-finance objectives set by the international community, which call for mobilising 100 billion US dollars a year by 2020. We must change the course. This new OECD Inventory offers a roadmap to turn around harmful policies that are a relic of the past, when pollution was still seen as a tolerable side effect of economic growth.” 

The report was supported by a database of over 800 individual policies obtained from government sources, and found that the overall value amounted to between $160 and 200 billion annually over the period between 2010 to 2014, “with support for the consumption of petroleum products accounting for the bulk of that amount.”

The underlying conclusion from the report’s findings are that the level of support for fossil fuels is still well above what is necessary. “Although progress has been notable, this edition of the Inventory shows that there remains plenty of room for reform,” the report’s authors note.

A heavier report published by Carbon Tracker Initiative earlier this month similarly found high levels of government subsidies for fossil fuels, and that these subsidies were drastically and unnaturally impacting the global energy market.

 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

Comments

You May Also Like

Climate Change

New Global Registry of Fossil Fuel Emissions & Reserves

Biomass

Lithuania is the first nation in the world to adopt the LA100 renewable energy model developed by the US National Renewable Energy Laboratory for...

Clean Transport

I read an article earlier today that I found very confusing. An article at Green Car Reports said that some European regulators think EVs...

Clean Transport

I’ve seen quite a few vehement Twitter posts regarding Elon Musk, Tesla, subsidies, that 2008 government loan in which Tesla repaid American taxpayers back...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.