FOSSIL FUEL SUBSIDY REFORM - options and opportunities
GREEN GROWTH THE NORDIC WAY Green growth is a key priority for Nordic co-operation in the coming years. “The Nordic Region – leading in green growth” is the Nordic Prime Ministers’ shared green growth initiative under the auspices of the Nordic Council of Ministers. The green growth initiative is a vision based on the joint utilization of Nordic strengths in a number of areas including climate considerations in relation to development aid. The projects described here are part of this effort, involving the following Councils of Ministers: Environment in collaboration with the ministers for development aid. See more at www.norden.org/greengrowth or read the web magazine “Green Growth the Nordic Way” at www.nordicway.org
Fossil fuel subsidies matter. They matter for sustainable development, government budgets, the poor, women, and the environment. Global pre-tax subsidies amounted to $480 billion in 2011. Reforming and redirecting subsidies will be an important piece of the jigsaw if we are to solve the climate change puzzle.
TIME LINE A study issued in December 2013 explains why fossil fuel subsidies are important to development, the environment and governments. As background to the report Global Subsidies Initiative (GSI)consulted with Nordic government officials working on related issues.
AIM AND OUTCOME This project provides input to the Nordic Council of Ministers by identifying options and opportunities for increased Nordic cooperation on the phasing out of fossil fuel subsidies in developing countries.
Future research will further explore existing Nordic cooperation efforts in cross connected fields of fossil fuel climate issues and development aid.
The research explores existing Nordic cooperation efforts in the fields of energy, climate change and extractives, outlines Nordic development trends and priorities, proposes partner countries, identifies potential areas of cooperation, and presents four recommendations for future action. Savings enable governments to manage deficits: they can be redirected at building sustainable energy networks or targeted at social spending.
PARTNERS International Institute for Sustainable Development (IISD) CONTACT Laura Merrill, International Institute for Sustainable Development, lmerrill@iisd.org Anna Maria Hill Mikkelsen, Nordic Council of Ministers amhm@norden.org
GREEN GROWTH THE NORDIC WAY “The Nordic Region – leading in green growth” is the Nordic Prime Ministers’ shared green growth initiative under the auspices of the Nordic Council of Ministers. Green growth is a key priority for Nordic co-operation in the next few years and Nordic partnerships in this field has the potential to create a larger regional market, give a political lead in the EU, improve joint infrastructures and provide critical mass for future developments. The Nordic Prime Ministers’ green growth initiative is a vision based on the joint utilization of Nordic strengths in a number of areas including: • Energy efficiency and climate • Waste treatment and food waste • Sustainable building and ecodesign • Investment in innovation and research • Green public procurement and green investments This exhibition highlights aims and results from the following projects under “The Nordic Region – leading in green growth”: 1. Developing Nordic test centres for green solutions 2. Working together on education, training and research for green growth 3. Promoting flexible consumption of electricity 4. Working together on green-technology norms and standards 5. Working together on green procurement in the public sector 6. Developing techniques and methods for waste treatment 7. Promoting the integration of environmental and climate considerations into development aid 8. Co-ordinating and improving funding for green investment and companies. You can read articles on the individual projects at www.nordicway.org More info at norden.org/greengrowth
THE NORDIC REGION – leading in green growth