Report: Axing fossil fuel subsidies could cut global emissions 13 per cent

BusinessGreen staff
clock

Study calls on governments to include commitment to cut fossil fuel subsidies in their pre-Paris climate action plans

Phasing out the $543bn of consumer subsidies handed to fossil fuels each year could cut global greenhouse gas emissions by between six and 13 per cent by 2050, according to a major new report presented...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Policy

Is the UK's first forever chemicals strategy 'commendably holistic' or lacking in ambition?

Is the UK's first forever chemicals strategy 'commendably holistic' or lacking in ambition?

EXPLAINER: Green groups criticised the UK's first PFAS Plan for lacking ambition, but it potentially signals a 'big shift' in long-term policy direction - BusinessGreen unpacks what happens next

Stuart Stone
clock 12 March 2026 • 11 min read
Water firms given green light to raise further £463m from customer bills by 2030

Water firms given green light to raise further £463m from customer bills by 2030

Competition regulator gives permission for four water companies across England to increase household bills beyond levels approved by Ofwat, as part of efforts to fund major infrastructure upgrades

Michael Holder
clock 10 March 2026 • 5 min read
Is the EU sitting on a 'climate-fiscal timebomb'?

Is the EU sitting on a 'climate-fiscal timebomb'?

European Commission accused of 'massively underestimating' future debt to GDP ratios, as its projections fail to take account of climate impacts

Michael Holder
clock 10 March 2026 • 9 min read