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Report on reforming energy subsidies


"The new UNEP report, Reforming Energy Subsidies: Opportunities to Contribute to the Climate Change Agenda, says globally around 300 billion U.S. dollars, or 0.7 percent of global GDP, is being spent on energy subsidies annually."

The most recent quantitative analysis of energy subsidies worldwide was carried out by the IEA in 2006, the results of which were published in its World Energy Outlook. It found that energy subsidies – as measured by the extent to which actual prices fall short of the full economic cost of supply – in the twenty largest non-OECD countries amount to around US$220 billion based on 2005 data, of which subsidies to fossil fuels account for around $170 billion.

United Nations Environmental Programme: Division of Technology, Industry, and Economics. Report on Reforming Energy Subsidies: Opportunities to Contribute to the Climate Change Agenda. 2008.

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