Sentences with phrase «inefficient fossil fuel subsidies»

In addition to the work in the World Energy Outlook, the IEA has provided input to the G - 20 and APEC since 2009, when G20 leaders took a major step toward reforming energy subsidies and committed to «rationalize and phase out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption», the IEA has provided input to the G - 20 and APEC in support of their commitments.

G7 leaders — major MDB shareholders — have committed to phase out inefficient fossil fuel subsidies by 2025 (G7 2016).

Together, they committed to «rationalize and phase out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption».

A coalition of 12 World Trade Organization Members is urging the WTO today to advance the discussion on fossil fuel subsidies, asking for transparency and reform of inefficient fossil fuel subsidies that encourage wasteful consumption.

Last week, the G7 leaders pledged to eliminate «inefficient fossil fuel subsidies» but talks on phasing out a form of coal subsidy ended in stalemate.

The CEAP also recognizes that «inefficient fossil fuel subsidies (IFFS) that encourage wasteful consumption distort energy markets, impede investment in clean energy sources, place a strain on public budgets, and incentivise unsustainable infrastructure investments».»

Governments spend about $ 300 billion a year on subsidies, and leaders said they'd like to «phase out and rationalize over the medium term inefficient fossil fuel subsidies,» in a statement released after the summit was over.

The G20 fossil fuel subsidy review, pioneered in 2016 by US and China, is currently the only concrete step to make progress on the group's pledge from the 2009 summit in Pittsburgh to phase - out «inefficient fossil fuel subsidies that increase wasteful consumption».

In November 2015, the leaders of Asia - Pacific Economic Co-operation (APEC) economies, reaffirmed their landmark 2009 commitment to «rationalize and phase out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption while recognizing the importance of providing those in need with essential energy services».

In addition, we strongly support efforts to rationalize and phase - out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption, and to continue voluntary reporting on progress.