Revitalizing international fossil fuel subsidy phase-out commitments through roadmaps, closing loopholes, and support

Abstract

Fossil fuel subsidies remain a persistent problem notwithstanding multiple international commitments to phase them out. A new approach is needed to ensure commitments account for, and help overcome, domestic barriers to fossil fuel subsidy reform. This new approach should comprise time-bound roadmaps, steps to close existing loopholes, and support for lower-income countries.