Despite various commitments since 2009 to end government support for fossil fuels and make ‘finance flows consistent with a pathway toward low greenhouse gas emissions and climate resilient development’, G20 governments continued to provide significant support to fossil fuels in 2017–2019. Recent estimates of public money commitments for fossil fuels in response to the Covid-19 crisis indicate that G20 countries are moving in the wrong direction and are not likely to meet their phase-out commitments.
This report aims to track each of the G20 countries’ progress in phasing out government support to fossil fuels. It does so by reviewing progress in ending direct budgetary transfers and tax expenditures, price support, public finance and investments by state-owned enterprises for fossil fuels. It complements this review with an analysis of public money commitments for fossil fuel production and consumption in response to the Covid-19 crisis.
Doubling back and doubling down: G20 scorecard on fossil fuel fundingDownload file
Anna Geddes, Ivetta Gerasimchuk, Balasubramanian Viswanathan, Angela Picciariello, Bronwen Tucker, Alex Doukas, Vanessa Corkal, Mostafa Mostafa, Joachim Roth, Anissa Suharsono and Ipek Gencsu