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OECD work on fossil fuel subsidies www.oecd.org/env/cc/econ

OECD work on fossil fuel subsidies www.oecd.org/env/cc/econ. Helen Mountford Acting Deputy Director OECD Environment Directorate 14 December 2009. Removing energy subsidies can reduce GHG emissions by over 10%. Impact of energy subsidy removal on GHG emissions in 2050.

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OECD work on fossil fuel subsidies www.oecd.org/env/cc/econ

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  1. OECD work on fossil fuel subsidieswww.oecd.org/env/cc/econ Helen Mountford Acting Deputy Director OECD Environment Directorate 14 December 2009

  2. Removing energy subsidies can reduce GHG emissions by over 10% Impact of energy subsidy removal on GHG emissions in 2050 Source: joint OECD-IEA analysis, cited in OECD (2009), Economics of Climate Change Mitigation: Policies and Options for Global Action beyond 2010, based on IEA data on subsidies

  3. Greater GHG benefits if subsidy removal is combined with caps on emissions carbon leakage : 20% Source: joint OECD-IEA analysis, cited in OECD (2009), Economics of Climate Change Mitigation: Policies and Options for Global Action beyond 2010, based on IEA data on subsidies

  4. Unilateral removal of energy subsidies brings real income gains… Source: joint OECD-IEA analysis, cited in OECD (2009), Economics of Climate Change Mitigation: Policies and Options for Global Action beyond 2010, based on IEA data on subsidies

  5. … but not everybody will gain from multilateral removal Source: joint OECD-IEA analysis, cited in OECD (2009), Economics of Climate Change Mitigation: Policies and Options for Global Action beyond 2010, based on IEA data on subsidies

  6. Conclusions & next steps Removing fossil fuel subsidies will: • Reduce GHG emissions • Reduce the costs of global mitigation action • Increase economic efficiency and, in most countries, real income Best to combine subsidy phase-out with: • Emission caps in developed countries (reduces carbon leakage) • Targeted measures to address social impacts Next steps in OECD work: • Methodology for estimating producer & consumer subsidies in developed countries • Analysis of GHG, economic, trade, &social impacts of subsidy phase-out • Advice & recommendations on how to implement phase-out in practice www.oecd.org/env/cc/econ

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