Stories from G20 countries: shifting public money out of fossil fuels

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. Since then, some G20 governments have used various flows of public money to make progress in shifting support away from fossil fuels. This working paper brings together eight stories that illustrate how reforms can be enabled and implemented to align flows of public money with the Paris Agreement and sustainable development goals.