Analysis of the Scope of Energy Subsidies and Suggestions for the G-20 Initiative [electronic resource]
Material type: TextSeries: Other papers | World Bank e-LibraryPublication details: Washington, D.C. : The World Bank, 2010Subject(s): Acid Rain | Air Pollution | Carbon Dioxide | Carbon Emissions | Climate Change | Climate Change Mitigation and Green House Gases | Coal | Commercial Banks | Cost-Benefit analysis | Decision Making | Deforestation | Developed Countries | Economic Development | Elasticity of Demand | Electricity | Emissions | Employment | Energy | Energy Efficiency | Energy Production | Energy Production and Transportation | Energy Supply | Environment | Environmental Economics & Policies | Environmental Policy | Expenditures | Fossil Fuels | Fuel Prices | Greenhouse Gases | Income Tax | Kerosene | Macroeconomics and Economic Growth | Natural Gas | Nuclear Power | Particulate Matter | Petroleum Products | Political Economy | Power Generation | Power Plants | Power Sector | Price Elasticity | Recycling | Renewable Energy | Solar Energy | Tax Exemptions | Taxation & Subsidies | Transparency | Transport | Transport Costs | VehiclesOnline resources: Click here to access online Abstract: When the G-20 leaders met on 24-25 September 2009 in Pittsburgh, USA, they agreed in their Communiqua that, building on the efforts of many countries to, reduce fossil fuel subsidies while preventing adverse impact on the poorest?, they were committed to, rationalize and phase out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption. This draft report has been developed jointly by the International Energy Agency (IEA), Organization of the Petroleum Exporting Countries (OPEC), Organization for Economic Cooperation and Development (OECD) and World Bank in response to this request. It draws on the relevant expertise and work of the four tasked organizations, but also on input and comments from other organizations and experts. The report includes: a) discussion of the scope of energy subsidies; b) estimates of energy subsidies, and identification of the gaps in the existing data and issues around the measurement of energy subsidies; c) modeling-based analysis of the implications of phasing-out energy subsidies on the economy, including socio-economic and trade impacts, the environment, and the energy sector; and d) suggestions for the implementation of phase-out of inefficient subsidies leading to wasteful consumption, drawing on country case studies, including discussion of how to address social impacts.When the G-20 leaders met on 24-25 September 2009 in Pittsburgh, USA, they agreed in their Communiqua that, building on the efforts of many countries to, reduce fossil fuel subsidies while preventing adverse impact on the poorest?, they were committed to, rationalize and phase out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption. This draft report has been developed jointly by the International Energy Agency (IEA), Organization of the Petroleum Exporting Countries (OPEC), Organization for Economic Cooperation and Development (OECD) and World Bank in response to this request. It draws on the relevant expertise and work of the four tasked organizations, but also on input and comments from other organizations and experts. The report includes: a) discussion of the scope of energy subsidies; b) estimates of energy subsidies, and identification of the gaps in the existing data and issues around the measurement of energy subsidies; c) modeling-based analysis of the implications of phasing-out energy subsidies on the economy, including socio-economic and trade impacts, the environment, and the energy sector; and d) suggestions for the implementation of phase-out of inefficient subsidies leading to wasteful consumption, drawing on country case studies, including discussion of how to address social impacts.
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