Huge stack of colourful empty oil barrels

IISD Global Subsidies Initiative

The International Institute for Sustainable Development’s Global Subsidies Initiative (GSI) is a program designed to put the spotlight on subsidies and the corrosive effects they can have on environmental quality, economic development and governance.

Latest

At long last, Canada restricts oil and gas subsidies (except for all the loopholes)

Environment and Climate Minister Steven Guilbeault has unveiled detailed plans to phase out "inefficient" oil and gas subsidies, based on guidelines released yesterday morning that take effect immediately and are meant to fulfill a 14-year-old pledge by G20 countries.

IISD in the news

Corporate Knights

July 25, 2023

Heatwaves to hit China once every 5 years as global extreme weather events multiply, study finds

Record-breaking heatwaves that have scorched North America, Europe and China are set to worsen in future unless the world stops burning fossil fuels, according to a study by the World Weather Attribution (WWA) academic initiative.

IISD in the news

South China Morning Post

July 25, 2023

Canada to Cut Oil & Gas Subsidies

The Canadian federal government has implemented a framework to revoke subsidies for fossil fuels that are deemed inefficient. However, the framework lacks details on the specific subsidies to be eliminated and does not provide a dollar amount for the cuts. Canada, as the fourth-largest oil producer in the world, is the first country to comply with a 2009 pledge made by the Group of Twenty (G20) nations. The government plans to exempt oil and gas projects that have plans to reduce emissions and utilize carbon capture and storage (CCS) technology. Federal Environment Minister Steven Guilbeault stated that the objective is for federal support to be directed only towards projects that decarbonize the sector and result in significant greenhouse gas emissions reductions.

IISD in the news

EnergyPortal.eu

July 24, 2023

Canada Bans Some Fossil Fuel Subsidies, Meeting Decade-Old G-20 Pledge

Canada revealed new rules to ban some fossil fuel subsidies, targeting those that unfairly advantage oil and gas, solely support sector activities or endorse consumption of fuels that worsen climate change.

IISD in the news

Bloomberg

July 24, 2023

Canada releases framework to phase out inefficient fossil fuel subsidies

Canada on Monday released a framework for eliminating inefficient fossil fuel subsidies, making it the first G20 country to deliver on a 2009 commitment to rationalise and phase out government support for the sector.

IISD in the news

Reuters

July 24, 2023

Ottawa révèle les conditions pour autoriser les futures subventions aux combustibles fossiles (in French)

Ottawa restreint les conditions dans lesquelles il autorisera les subventions à l’industrie des combustibles fossiles, mais laisse intacte – pour l’instant – la plus grande source de financement public de l’industrie.

IISD in the news

News24

July 24, 2023

Ottawa reveals conditions for allowing future fossil fuel subsidies

Ottawa is restricting the conditions under which it will allow subsidies to the fossil fuel industry, but is leaving untouched – for now – the industry’s largest source of public financing.

IISD in the news

The Canadian Press

July 24, 2023

G20 energy ministers call for cooperation on nuclear energy & low-emission hydrogen

The Group of 20 energy ministers' meeting concluded in Goa on July 22, 2023, with the final summary failing to include language on the phase-down of unabated fossil fuels.

IISD in the news

Down to Earth

July 23, 2023

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