Joint report by IEA, OPEC, OECD and World Bank on fossil-fuel and other energy subsidies (2011)
The work on fossil-fuel subsidies by the international organisations was underaken 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". This analysis was released soon after in the form of a joint report to the June 2010 G20 summit in Toronto, Canada.
Since then, international organisations have produced a number of other studies and reports providing background information to and supporting the efforts of the G20. In 2011 the OECD, the IEA, OPEC, and the World Bank prepared a joint report for the November 2011 G20 summit in Cannes, France, which highlighted the extent of subsidies and other support to fossil-fuel production and consumption, analysed the potential economic and environmental benefits of subsidy reform, and delivered guidance on how countries can undertake reforms while still protecting the poor. More recently, the World Bank spearheaded efforts to review the transitional policies that countries may wish to consider when reforming energy subsidies in order to assist vulnerable households. The IMF, the IEA, the IEF, the OECD, the OFID, and OPEC all provided essential input to this work, and a report was released in September 2014.
More generally, 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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