Quoting a joint analysis undertaken by the OECD and the IEA, G-20 leaders committed in September 2009 to ―rationalize and phase out over the medium term inefficient fossil-fuel subsidies that encourage wasteful consumption.

This working paper analyzes the assumptions, data and environmental and economic implications of removing fossil fuel subsidies.

This paper examines the cost of a range of national, regional and global mitigation policies and the corresponding incentives for countries to participate in ambitious international mitigation actions.

This paper examines the cost of a range of national, regional and global mitigation policies and the corresponding incentives for countries to participate in ambitious international mitigation actions.

Considering the costs and risks of inaction, ambitious action to reduce greenhouse gas emissions is economically rational. However, success in abating world emissions will ultimately require a least-cost set of policy instruments that is applied as widely as possible across all emission sources (countries, sectors and greenhouse gases).