October 24, 2010

Analysis of the Scope of Energy Subsidies and Suggestions for the G-20 Initiative

by the IEA, OPEC, OECD and WORLD BANK

- In June 2010, the IEA, OPEC, OECD & World Bank delivered a Joint Report on fossil fuel subsidies to G20 Finance Ministers and G20 Leaders. This 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 International Energy Agency (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".

IEA, OPEC, OECD and World Bank (2010). "Analysis of the Scope of Energy Subsidies and Suggestions for the G-20 Initiative." Joint Report Prepared for submission to the G-20 Summit Meeting Toronto (Canada), Jun 2010.