“A price on carbon and fossil fuel subsidies are two opposing forces.” — Fatih Birol, Executive Director, International Energy Agency Credit: IISD
Only 3% of Fossil Fuel Subsidies reaches the poorest 20% of households, said Felipe Calderón, Chair, Global Commission on Economy and Climate. As often claimed these subsidies do not help poor families nor improve energy access he said.
A few more comments and some startling facts:
The carbon price in Europe is approximately US$10, yet incentives for fossil fuel use, equate to a global average of US$110 per tonne of carbon…an “absurd situation” …
— Fatih Birol, Executive Director, International Energy Association (IEA)
Each hour, US$8 million is spent on Fossil Fuel Subsidies
–Scott Vaughan, President, IISD
Fossil Fuel Subsidies amount to five times the global annual climate finance commitment of US$100 billion.
— Børge Brende, Minister of Foreign Affairs, Norway
…partial phase out of Fossil Fuel Subsidies would generate 12 percent of the global abatement needed by 2020 to achieve a 2ºC pathway.
— Doris Leuthard, Head, Federal Department of Environment, Transport, Energy and Communications, Switzerland
First published on the Climate News Mosaic Paris Climate Talks Live Blog available here: