This working paper models the impact of the removal of fossil fuel subsidies on greenhouse gas (GHG) emission reductions for the following countries: Algeria, Bangladesh, Brazil, China, Egypt, Germany, Ghana, India, Indonesia, Iran, Iraq, Mexico, Morocco, Myanmar, Nigeria, Pakistan, Russia, Saudi Arabia, South Africa, Sri Lanka, Tunisia, United

This report presents the case for a "subsidy swap"—reallocating some of the savings from fossil fuel subsidy reform to fund the clean energy transition. Fossil fuel to clean energy subsidy swaps are already taking place.