Joint report by IEA, OPEC, OECD and World Bank on fossil-fuel and other energy subsidies (2011)
Under the Korean G20 Presidency, the International Energy Agency (IEA), OECD, OPEC and the World Bank were requested to prepare a report on fossil fuel subsidies "The Scope of Fossil-Fuel Subsidies in 2009 and a Roadmap for Phasing out Fossil-Fuel Subsidies: An IEA, OECD and World Bank report" for the November 2010 G20 summit meeting in Seoul, Republic of Korea.
This work extends the analysis of an earlier Joint Report on fossil fuel subsidies that had been prepared by the IEA, OECD, OPEC and the World Bank and presented to the G20 Toronto Summit in June 2010. The 2011 joint report includes data on fossil fuel consumption subsidies for 2009 and provides a road map for phasing out fossil-fuel subsidies.
The work on fossil-fuel subsidies by the international organisations was in response to a request by G20 Leaders when they met in Pittsburgh in September 2009. At that time, leaders agreed to “rationalize and phase out over the medium term inefficient fossil-fuel subsidies that encourage wasteful consumption”. They asked the OECD together with the IEA, OPEC and the World Bank to “provide an analysis of the scope of energy subsidies and suggestions for the implementation of this G20 country initiative".
The work by the international organisations includes:
All links are to PDF files on the official G20 website, www.g20.org.
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