Quantcast

G20 Leaders—Cut Fossil Fuel Subsidies and Kick-Start Climate Fund

Greenpeace

Greenpeace challenged the Group of Twenty (G20) leaders Nov. 2 attending the summit in Cannes to deliver on their pledge1 to cut fossil fuel subsidies and instead invest in green jobs, in response to the current global financial, economic and environmental crisis.

A World Bank report prepared for the G202 shows that if developed countries3 transferred $10 billion from fossil fuel subsidies to climate finance, this could kick start the $100 billion Green Climate Fund and pay for real solutions that cut emissions, create jobs and help the most vulnerable countries adapt to climate change. This $10 billion funding would represent only 20 percent of the current spend on climate-destroying subsidies.

“G20 leaders must deliver on their 2009 pledge by setting a clear timetable for cutting fossil fuel subsidies,” said Patricia Lerner, Greenpeace International Senior Political Advisor. “Instead of lining the pockets of oil companies during a time of financial crisis, this is an opportunity for world leaders to act in the interests of the people instead of polluting corporations.”

Greenpeace is calling on the G20 to formulate a timetable for the phase-out of fossil fuel production subsidies. The consumption subsidy reforms required for this phase-out need to be delivered through socially just transition plans, designed to protect the poor in developing countries.

The international environmental organization also issued a checklist4 Nov. 2 of four key criteria for a successful G20, calling on leaders to honor their promises to protect their citizens from the climate crisis, which will make the current economic crisis look small, if leaders fail to act decisively to prevent catastrophic climate change.

“Time is of the essence for bailing out the climate," Lerner added. “With just weeks to go before the climate summit in Durban, governments must show that the G20 can be a calming force for both the world economy and climate, by cutting polluting subsidies and shifting that money to create the green jobs and climate protection investments the world so urgently needs.”

Greenpeace is an independent global campaigning organization that acts to change attitudes and behaviour, to protect and conserve the environment and to promote peace.

For more information, click here.

—————

Notes:

1The G20 leaders pledged to cut fossil fuel subsidies at their Pittsburgh meeting in 2009.

2Mobilizing Climate Finance, a Paper prepared at the request of G20 Finance Ministers, September 19, 2011.

3The OECD estimated the annual consumption and production subsidies of the 27 EU member states, Australia, Canada, Iceland, Japan, New Zealand, Norway, Switzerland and the U.S. amounted to about $40-60 billion per year in 2005-2010.

4Greenpeace G20 checklist available here.

air

EcoWatch Daily Newsletter

Record flood water levels in Venice hit again on Sunday making this the worst week of flooding in the city in over 50 years.

Read More Show Less

By Brian Barth

Late fall, after the last crops have been harvested, is a time to rest and reflect on the successes and challenges of the gardening year. But for those whose need to putter around in the garden doesn't end when cold weather comes, there's surely a few lingering chores. Get them done now and you'll be ahead of the game in spring.

Read More Show Less
Sponsored
(L) Selma Three Stone Engagement Ring. (R) The Greener Diamond Farm Project. MiaDonna

By Bailey Hopp

If you had to choose a diamond for your engagement ring from below or above the ground, which would you pick … and why would you pick it? This is the main question consumers are facing when picking out their diamond engagement ring today. With a dramatic increase in demand for conflict-free lab-grown diamonds, the diamond industry is shifting right before our eyes.

Read More Show Less
(L) 3D graphical representation of a spherical-shaped, measles virus particle that is studded with glycoprotein tubercles.
(R) The measles virus pictured under a microscope. PHIL / CDC

The Pacific Island nation of Samoa declared a state of emergency this week, closed all of its schools and limited the number of public gatherings allowed after a measles outbreak has swept across the country of just 200,000 people, according to Reuters.

Read More Show Less
Austin Nuñez is Chairman of the Tohono O'odham Nation, which joined with the Hopi and Pascua Yaqui Tribes to fight a proposed open-pit copper mine on sacred sites in Arizona. Mamta Popat

By Alison Cagle

Rising above the Arizona desert, the Santa Rita Mountains cradle 10,000 years of Indigenous history. The Tohono O'odham Nation, Pascua Yaqui Tribe, and Hopi Tribe, among numerous other tribes, have worshipped, foraged, hunted and laid their ancestors to rest in the mountains for generations.

Read More Show Less
Sponsored
The Navajo Nation has suffered from limited freshwater resources as a result of climate, insufficient infrastructure, and contamination. They collaborated with NASA to develop the Drought Severity Evaluation Tool. NASA Goddard Space Flight Center

Native Americans are disproportionately without access to clean water, according to a new report, "Closing the Water Access Gap in the United States: A National Action Plan," to be released this afternoon, which shows that more than two million Americans do not have access to access to running water, indoor plumbing or wastewater services.

Read More Show Less
Wild Exmoor ponies graze on a meadow in the Czech Republic. rapier / iStock / Getty Images Plus

By Nanticha Ocharoenchai

In the Czech Republic, horses have become the knights in shining armor. A study published in the Journal for Nature Conservation suggests that returning feral horses to grasslands in Podyjí National Park could help boost the numbers of several threatened butterfly species.

Read More Show Less

Despite huge strides in improving the lives of children since 1989, many of the world's poorest are being left behind, the United Nations children's fund UNICEF warned Monday.

Read More Show Less