Reforming inefficient energy subsidies has been identified as one of the main policy measures that can help mitigate climate change and support the transition to a greener economic development.
While phasing out such subsidies is not an easy policy choice, there is a general recognition of the need to reform existing energy subsidies in a way which could be beneficial both to the economy and the environment of the countries. Effective reform strategies should identify adequate measures that can help mitigate the adverse effects of subsidy reforms, particularly on the poor and most vulnerable parts of the population.
This side event presented preliminary results from a review of energy subsidies in Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine. A panel of distinguished officials and experts shared the most recent experience of energy subsidy reform measures and their economic, social, environmental and climate-related impacts in the Eastern Partnership countries, complemented by examples from the EU and OECD countries.
This work is part of a regional project on “Greening Economies in the Eastern Neighbourhood” (EaP GREEN), conducted by the OECD and funded by the European Union.
WHY ENERGY SUBSIDIES MATTER? INVENTORY OF ENERGY SUBsIDIES IN THE EU'S EASTERN PARTNERSHIP COUNTRIES
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