G20 nations have almost tripled the subsidies they give to coal-fired power plants in recent years, despite the urgent need to cut the carbon emissions driving the climate crisis. The bloc of major economies pledged a decade ago to phase out all fossil fuel subsidies.

A shift away from using fossil fuels is a key enabler for the low-carbon transition necessary to achieve climate goals, but delivering this transformation has widespread repercussions across local communities. A just transition – one that captures a social, environmental and economic approach – is crucial.

Article 2.1c of the Paris Agreement breaks new ground. It is the first time that the United Nations Framework Convention on Climate Change (UNFCCC) process has set a collective goal reflecting the full scale of effort needed on finance to successfully address climate change.

Energy subsidies and tax revenues, investments by state-owned enterprises (SOEs) and credit support can either undermine or encourage sustainable development and decarbonisation. In 2009, G20 governments committed to end government support to fossil fuels through a number of reform pledges.

In 2015, under the United Nations Framework Convention on Climate Change’s Paris Agreement, governments committed to keeping global temperature increases to 2°C and to pursue efforts towards a more ambitious 1.5°C target.

G7 countries (and others around the world) are in the early stages of an energy transition – including, in some areas, a shift away from the production and consumption of fossil fuels. This transition is being driven by decarbonisation objectives and policies, as well as a sharp reduction in the cost of clean technologies.

Worldwide, a significant proportion of the private sector receives some level of support, interventions and subsidies from the public sector. In the specific case of energy subsidies

Worldwide, a significant proportion of the private sector receives some level of support, interventions and subsidies from the public sector. In the specific case of energy subsidies

A new report has concluded that members of the G20 are providing $452 billion per year on fossil fuel production subsidies.

Sub-Saharan Africa is at a critical point, experiencing rapid population growth, particularly in urban areas, and a young and growing workforce.