Sen. Bernie Sanders and Rep. Ilhan Omar reintroduced the End Polluter Welfare Act, the most comprehensive legislation to address the billions in special interest subsidies that disproportionately flow to the oil, gas, and coal industries.
fossil fuel subsidies
Countries make joint statement on shifting fossil fuel subsidies towards renewable energy at COP28
“Today’s announcement from the Netherlands, United Kingdom, Canada and many of their peers is a disappointment. At a time when we need rich country leaders to concretely expand their past ambition to secure a fair deal, these ministers are just regurgitating promises and initiatives that are now more than a decade old and have been so ineffective that fossil fuel handouts and profits continue to reach record levels.”
EU sets path to secure fossil fuel phase-out agreement at COP28
Yesterday night European Union (EU) environment ministers agreed on their negotiation position for COP28, the UN climate conference starting at the end of November in Dubai – and ambiguity on abatement technologies risks undermining negotiation success.
Study confirms need to redirect billions in Netherland’s fossil fuel subsidies
Ending fossil fuel subsidies presents a massive opportunity to shift billions to pay for energy efficiency, renewable energy, and climate finance, as well as to social protection measures that can mitigate any harmful impacts on households. If the Netherlands takes action now, it has an opportunity to bring other countries along at COP28, the upcoming UN climate conference in Dubai.
Dutch Climate and Energy Minister estimates NL’s fossil fuel subsidies at up to €46.4 billion a year, campaigners call for phase-out plan
Today the outgoing Dutch Minister for Climate and Energy Policy, Rob Jetten, published an analysis of the Netherlands’ fossil fuel subsidies, estimating these at between €39.7 and €46.4 billion a year, more than 4% of the Netherlands’ GDP.
New study estimates The Netherlands’ fossil fuel subsidies at €37.5 billion per year, despite long-standing promises to end this support.
Never before has there been such a detailed, peer-reviewed mapping of fossil fuel subsidies in the Netherlands. The report identifies 31 fossil fuel subsidies that, combined, provide €37.5 billion per year in fossil fuel subsidies between 2020 and 2022.
Belgian export credit agency restricts oil and gas finance to meet climate commitment, but leaves gas loopholesÂ
Credendo’s new policy is meant to implement the Glasgow commitment to end international public finance for fossil fuels by the end of 2022, but it leaves loopholes for existing oil and gas fields and gas-fired power.
Oil Change International submits evidence to the Environmental Audit Committee
The UK House of Commons Environmental Audit Committee have launched a inquiry into Accelerating the transition from fossil fuels and securing energy supplies, which is scrutinising the UK Government’s Energy Security Strategy and its North Sea Transition Deal (for oil and gas production in the UK’s Continental Shelf). Oil Change International submitted the following evidence for the committee.
Climate Groups Praise Democrats’ Action on Price Gouging, Urge Leaders to Back a Windfall Profits Tax
“Big Oil is gouging working families, and it’s critical to hold these companies accountable for their exploitative profiteering,” said Collin Rees.
Consumer Fuel Price Gouging Prevention Act is a key step; Windfall Profits Tax must come next
“Voters will reward politicians who stand up for people, not polluters, and taxing windfall profits is wildly popular in every part of the country,” said Collin Rees.