End Subsidies to Fossil Fuels

ased on the International Energy Agency’s report titled, ‘2017 Energy Access Outlook,’ an additional investment of US$56 billion per year is required to achieve universal energy access. While this sounds like a lot of money, GSI estimates that US$425 billion was spent on subsidizing fossil fuels just in 2015 (combined estimate for production and consumption subsidies).

This means that the global amount of fossil fuel subsidies is 7.5 times larger than the additional investment required to achieve universal access to electricity and clean cooking.

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