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G20 Leaders Agree to Phase Out Fossil Fuel Subsidies

Green Car Congress

The Organization for Economic Cooperation and Development (OECD) and the IEA have found that eliminating fossil fuel subsidies by 2020 would reduce global greenhouse gas emissions in 2050 by ten percent. The inaugural meeting of the G-20 took place in Berlin, on December 15-16, 1999, hosted by German and Canadian finance ministers.

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PwC analysis finds meeting 2 C warming target would require “unprecedented and sustained” reductions over four decades

Green Car Congress

PwC analysis finds a need for global carbon intensity to drop an average of 5.1% Since 2000, the global rate of decarbonization has averaged 0.8%; from 2010 to 2011, global carbon intensity fell by just 0.7%. Because of this slow start, global carbon intensity now needs to be cut by an average of 5.1% Click to enlarge.