OECD Companion to the Inventory of Support Measures for Fossil Fuels 2021:Foreword

As governments design measures to stimulate economies decimated by the COVID-19 crisis, they have a major opportunity to pursue a sustainable, inclusive recovery aligned with long-term goals to reduce greenhouse gas emissions. As well as investing in low-carbon energy, that means reviewing fossil-fuel subsidies, which not only encourage wasteful consumption but also often serve poorly their purported social goals of increasing energy access and affordability. Historically low energy prices resulting from the slump in economic activity provide a welcome chance to reform energy pricing, including fossil-fuel support.