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OECD Companion to the Inventory of Support Measures for Fossil Fuels 2015

image of OECD Companion to the Inventory of Support Measures for Fossil Fuels 2015

This publication is concerned with all policies that directly support the production or consumption of fossil fuels in OECD countries and in a selection of partner economies. It provides a useful complement to the online OECD database that identifies and estimates direct budgetary transfers and tax expenditures benefitting fossil fuels, and from which it derives summary results and indicators on support to fossil fuels, as well as policy recommendations.

This report emphasises the problems that fossil-fuel subsidies cause in the context of broader policy efforts for mitigating greenhouse-gas emissions, and reviews the various reform initiatives that have already been taken at the international level (G-20, APEC, etc.). In addition, it presents the coverage, method and data sources used for constructing the online database, and further discusses caveats and data interpretation.

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Foreword and acknowledgments

The year 2015 should prove to be a momentous one in the battle against climate change. Global leaders and policymakers will meet in Paris in December with a social, economic, political, environmental, and moral imperative to reach an ambitious and actionable agreement at COP 21. Meeting the challenge of climate change requires us to achieve zero net emissions from fossil fuels globally by the end of this century. Without zero net CO2 emissions, temperatures will just keep rising.

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