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The elimination of fossil-fuel subsidies would make a significant contribution to this shared objective.By keeping prices artificially low, fossil-fuel subsidies encourage wasteful consumption, disadvantage renewable energy, and depress investment in energy efficiency. Fossil-fuel subsidy reform also has both economic and environmental benefits, thereby supporting our shared global commitment to sustainable development.
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Citation
IISD, 2015. Fossil-Fuel Subsidy Reform Communique, IISD.
Canada.
Retrieved from https://coilink.org/20.500.12592/d26r67 on 01 Nov 2024. COI: 20.500.12592/d26r67.