![]() ![]() Led by a cast of celebrity voices from around the world - the Don ’t Choose Extinction campaign aims to raise public awareness of how fossil fuel subsidies are canceling out significant progress to date towards ending climate change and are driving inequality by benefitting the rich. “We hope this research will catalyze the conversation on the critical role reform can have in driving green and fair transitions in all countries.” “Addressing fossil fuel subsidies is a politically charged issue, but the facts show that reform is both necessary, and when done correctly, supports the poor, creates jobs, and protects the planet,” said George Gray Molina, Lead Economist of UNDP’s Bureau for Policy and Programme Support and co-author of the research. UNDP’s new campaign “Don’t Choose Extinction” spotlights one of the world’s most well-known extinct animals, the dinosaur – which, in a speech to the UN General Assembly urges world leaders to shift away from fossil fuel subsidies. “Effectively fighting back against the devastating impact of COVID 19 requires new approaches that support Africa to accelerate SDG action through a green recovery that ensures no one is left behind.” The energy transition must be multidimensional, inclusive, equitable and just – it must consider the diverse realities of African countries and propose various pathways for the continent,” emphasized Ahunna Eziakonwa, Assistant Secretary General for Africa at UNDP. “Affordable energy access for all is essential to development. ![]() The United Nations Secretary-General António Guterres has also made a strong call for reform. The report, published ahead of the upcoming G20 and COP26 meetings, is being launched in the context of a growing recognition of the need for reform of fossil fuel subsidies by economists and policymakers as well as the IMF and World Bank. Against this backdrop, we must ask ourselves: is subsidizing fossil fuels a rational use of public money?" said Achim Steiner, UNDP Administrator. ![]() It includes the fact that the world continues to spend billions of dollars on fossil fuel subsidies, while hundreds of millions of people live in poverty and the climate crisis accelerates. "The COVID-19 pandemic has exposed outdated aspects of the global economy. Instead, UNDP ’s analysis highlights that these funds, paid for by taxpayers, end up deepening inequality and impeding action on climate change. The amount spent directly on these subsidies could pay for COVID-19 vaccinations for every person in the world or pay for three times the annual amount needed to eradicate global extreme poverty. When indirect costs, including costs to the environment, are factored into these subsidies, the figure rises to almost US$6 trillion, according to data published recently by the International Monetary Fund (IMF). This is four times the amount being called for to help poor countries tackle the climate crisis, one of the sticking points ahead of the COP26 global climate conference next week, according to new UN Development Programme (UNDP) research. ![]()
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