Lifeline:
END FOSSIL FUEL SUBSIDIES
Every year G20 governments subsidize the fossil fuel sector to the tune of $440B. Visionary efforts are underway to stop fossil fuel subsidies worldwide, and redirect that money towards climate finance. The Ending Fossil Fuel Subsidies Lifeline highlights this crucial climate solution.
According to a 2022 report by Energy Policy Tracker, the G20 countries allocate a staggering $440B per year to subsidize fossil fuel production. Despite the COP28 agreement signaling a move toward ending fossil fuel dependence, and the G7’s official commitment to end FF subsidies, they remain substantial and continue to delay the urgent shift to renewables. And it’s not like these subsidies are helping the little guy: 57 major fossil fuel and cement producers are responsible for 80% of global CO₂ emissions since the Paris Agreement, highlighting the urgent need to cut these destructives incentives.
Why End Fossil Fuel Subsidies?
The Goal: End All Fossil Fuel Subsidies
Ending fossil fuel subsidies would remove a major financial incentive that currently encourages excessive fossil fuel extraction. Redirecting these funds toward renewable energy development would accelerate the transition to a clean energy economy, help limit global temperature rise, mitigate climate change impacts, and strengthen essential services.
How to Use This Lifeline:
Spread the word about — and get involved in — the following visionary campaigns to end fossil fuel subsidies and redirect that money to climate action:
and please tell us about other efforts underway not listed above.
Photo: Rio de Janeiro, Brazil, Climate Emergency Day 2024. Taken by Jane Doe.
VIEW LIFELINES
Renewable Energy
Tracking the percent of global energy coming from renewable sources – wind, water, solar, and bioenergy. It currently stands at 13.5% and is rising, but extremely slowly.
Indigenous Land Sovereignty
Displays the total area of land and inland waters currently managed by Indigenous Peoples and Local Communities (IPLCs) worldwide.
Climate Finance
Tracks the climate debt owed by wealthy, high-emitting G20 countries for the impacts their carbon emissions have caused, especially to those in "developing" countries.