Contributed by Ms. Kerryn Lang
Global Subsidies Initiative
International Institute for Sustainable Development (IISD)

The summit provides an opportunity for G-20 members to continue progress towards their commitment to phase out and rationalize subsidies for fossil fuels, first announced in Pittsburgh, September 2009.

Reform of fossil-fuel subsidies is essential for reducing energy price distortions, encouraging energy conservation and efficiency, reducing greenhouse gas emissions and lowering barriers to investments in renewable energy technologies.

The GSI's latest policy brief summarizes what G-20 countries have done so far, what else needs to be done to deliver on that commitment, and includes recommendations for the G-20 summit in Seoul.

The policy brief can be downloaded here: http://www.globalsubsidies.org/files/assets/pb9_path.pdf

For more information on fossil-fuel subsidies and their impacts, see: http://www.globalsubsidies.org/fossil-fuel-subsidies