REN21 Renewables Academy 2014 Removing Fossil Fuel Subsidies

fuel subsidies have long been known to be inefficient, encourage wasteful behaviour, and undermine investments in clean energies and climate mitigation efforts. However, despite the 2009 commitment of the G20 to the removal of fossil fuel subsidies and the advocacy work of international organisationssuch as the World Bank and the International Energy Agency (IEA)little progress has been made to date. According to various estimates, governments annually spend between USD 544 billion (World Bank) and USD trillion (International Monetary Fund) globally on fossil fuel subsidies. This is in stark contrast to the USD 101 billion that was spent to support renewables in variety of organisations ( IMF, IISD, MED-ENEC) have studied how to achieve a fossil fuel-subsidy-free energy market. Most conclude that there is no one-size-fits-all solution, but that some common success factors exist. Based on this several road maps have been developednone of which however have been (successfully) implemented to such, the session seeks to:- Address the social impacts policy makers in developing countries encounter when phasing out fossil fuel subsidies and identifying ways to address the Assess the status quo of fossil fuel subsidies and their impact on renewable energy Explore potential road maps for the removal of subsidies and critically examine how these can be realistically Identify what role the REN21 community and renewable energy advocates at large could play in this speaker:Henning Wuester, IRENA:Moderator:Pradeep Monga, UNIDOPanelists:Peter Wooders, IISD Tareq Emtairah, RCREEE ()Heike Mainhardt, Oil Change International Faruk Y. Yusuf, Nigeria