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IMF |Energy Subsidy Reform: Lessons and ImplicationsEnergy subsidies have wide-ranging economic consequences. While aimed at protecting consumers, subsidies aggravate fiscal imbalances, crowd-out priority public spending, and depress private investment, including in the energy sector. Subsidies also distort resource allocation by encouraging excessive energy consumption, artificially promoting capital-intensive industries, reducing incentives for investment in renewable energy, and accelerating the depletion of natural resources. Category: Promote Carbon Pricing Measures, Climate-Informed Fiscal Planning |
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ADB, AfDB, EBRD, EIB, IADB, IMF, WBG, OECD |Mobilizing Climate Finance: A Paper Prepared at the Request of G20 Finance Ministers.This paper responds to the request of G20 Finance Ministers in exploring scaled up finance for climate change adaptation and mitigation in developing countries. In so doing it builds upon and extends the work of last year‘s U.N. Secretary-General‘s High Level Advisory Group on Climate Change Financing (AGF). Its starting point is the commitment made in the Copenhagen Accord and Cancun Agreements on the part of developed countries to provide new and additional resources for climate change activities in developing countries. Category: Climate-Resilient Financial Sector |
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