Where 100+ participants from 40+ countries have shared ideas and experiences on reforming energy subsidies
As we wrap up ESMAP’s 2018 Knowledge Exchange Forum in Geneva, we would like to thank our participants for making this event a success. Over the last two days, they became part of a lively discussion on the challenges and opportunities of reforming energy subsidies. They listened to peers from other countries talk about their programs, shared their own perspectives, and discussed what it takes to make or break reforms.
Phasing out energy subsidies remains a major global challenge. In 2017, US$300 billion was spent on fossil fuel subsidies globally — almost six times the annual funding required to achieve universal access to electricity and clean cooking by 2030. Fossil fuel subsidies rarely benefit the poor and divert resources that could be invested in people, health, education, and infrastructure. They also undermine efforts to reach climate change goals — about 13% of global CO2 emissions has been linked to the use of subsidized fossil fuels (IEA).
How do countries ensure that reforms are fair? How do they deal with the political fall-out of reform? How can they make sure public communications is credible and trustworthy? These are only a few of the issues debated at the forum, an event organized by ESMAP and Switzerland’s State Secretariat for Economic Affairs (SECO).