Reforming Fossil Fuel Subsidies : Drivers, Barriers and the State of Progress

This article outlines the current state of affairs in fossil fuel subsidy reform, and highlights its contribution at the nexus of climate policy, fiscal stability and sustainable development. It discusses common definitions, provides quantitative estimates, and presents the evidence for key argument...

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Main Authors:	Rentschler, Jun, Bazilian, Morgan
Format:	Journal Article
Language:	en_US
Published:	Taylor and Francis 2017
Subjects:	ENVIRONMENTAL TAXES FISCAL REFORM FOSSIL FUEL SUBSIDIES CLIMATE POLICY CLIMATE CHANGE POLITICAL ECONOMY
Online Access:	http://hdl.handle.net/10986/28300

id	okr-10986-28300
recordtype	oai_dc
spelling	okr-10986-283002021-05-26T09:05:19Z Reforming Fossil Fuel Subsidies : Drivers, Barriers and the State of Progress Rentschler, Jun Bazilian, Morgan ENVIRONMENTAL TAXES FISCAL REFORM FOSSIL FUEL SUBSIDIES CLIMATE POLICY CLIMATE CHANGE POLITICAL ECONOMY This article outlines the current state of affairs in fossil fuel subsidy reform, and highlights its contribution at the nexus of climate policy, fiscal stability and sustainable development. It discusses common definitions, provides quantitative estimates, and presents the evidence for key arguments in favour of subsidy reform. The main drivers and barriers for reform are also discussed, including the role of (low) oil prices and political economy challenges. Commitments to subsidy reform by the international community are reviewed, as well as the progress at the country level. Although fossil fuel subsidy reform indeed plays a critical role in climate policy, experience shows that the rationale for such reforms is determined in a complex environment of political economy challenges, macro-economic, fiscal and social factors, as well as external drivers such as energy prices. The article synthesizes the key principles for designing effective reforms and emphasizes that subsidy reforms cannot only yield fiscal relief, but should also contribute to long-term sustainable development objectives. Areas for future research are also identified. 2017-09-11T21:44:40Z 2017-09-11T21:44:40Z 2016-06-24 Journal Article Climate Policy 1469-3062 http://hdl.handle.net/10986/28300 en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Taylor and Francis Publications & Research :: Journal Article Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	en_US
topic	ENVIRONMENTAL TAXES FISCAL REFORM FOSSIL FUEL SUBSIDIES CLIMATE POLICY CLIMATE CHANGE POLITICAL ECONOMY
spellingShingle	ENVIRONMENTAL TAXES FISCAL REFORM FOSSIL FUEL SUBSIDIES CLIMATE POLICY CLIMATE CHANGE POLITICAL ECONOMY Rentschler, Jun Bazilian, Morgan Reforming Fossil Fuel Subsidies : Drivers, Barriers and the State of Progress
description	This article outlines the current state of affairs in fossil fuel subsidy reform, and highlights its contribution at the nexus of climate policy, fiscal stability and sustainable development. It discusses common definitions, provides quantitative estimates, and presents the evidence for key arguments in favour of subsidy reform. The main drivers and barriers for reform are also discussed, including the role of (low) oil prices and political economy challenges. Commitments to subsidy reform by the international community are reviewed, as well as the progress at the country level. Although fossil fuel subsidy reform indeed plays a critical role in climate policy, experience shows that the rationale for such reforms is determined in a complex environment of political economy challenges, macro-economic, fiscal and social factors, as well as external drivers such as energy prices. The article synthesizes the key principles for designing effective reforms and emphasizes that subsidy reforms cannot only yield fiscal relief, but should also contribute to long-term sustainable development objectives. Areas for future research are also identified.
format	Journal Article
author	Rentschler, Jun Bazilian, Morgan
author_facet	Rentschler, Jun Bazilian, Morgan
author_sort	Rentschler, Jun
title	Reforming Fossil Fuel Subsidies : Drivers, Barriers and the State of Progress
title_short	Reforming Fossil Fuel Subsidies : Drivers, Barriers and the State of Progress
title_full	Reforming Fossil Fuel Subsidies : Drivers, Barriers and the State of Progress
title_fullStr	Reforming Fossil Fuel Subsidies : Drivers, Barriers and the State of Progress
title_full_unstemmed	Reforming Fossil Fuel Subsidies : Drivers, Barriers and the State of Progress
title_sort	reforming fossil fuel subsidies : drivers, barriers and the state of progress
publisher	Taylor and Francis
publishDate	2017
url	http://hdl.handle.net/10986/28300
_version_	1764466636455149568

Reforming Fossil Fuel Subsidies : Drivers, Barriers and the State of Progress

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