Eliminate All Fossil Fuel Subsidies, Says Org

The International Institute for Sustainable Development (IISD), a Canada-based research group, is calling for world leaders to band together to phase out fossil fuel subsidies.

From the IISD's press release:

"A national pledge to phase out fossil-fuel subsidies will free up valuable fiscal resources that can be redirected to fund other sustainable development priorities, provide the opportunity to introduce more targeted measures to support low-income households, reduce greenhouse gas emissions and help incentivize investments in renewable energy."

The report claims that global fossil-fuel consumption subsidies added up to $312 billion in 2009 and $558 billion in 2008.

"Fossil-fuel consumption subsidies distort market prices, creating a gap between the domestically subsidized price and the international market price. This situation has serious fiscal and economic ramifications for the country implementing the subsidies."

Full Story: IISD calls for countries to phase out all fossil fuel subsidies

Comments

building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25
Red necktie with map of Boston

For dads and grads: tie one on to celebrate your city!

Choose from over 20 styles imprinted with detailed city or transit maps.
$44.95

Prepare for the AICP* Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245

Stay thirsty, urbanists

These sturdy water bottles are eco-friendly and perfect for urbanists on the go.
$19.00