29 Sep '16, 9am

U.S. and China Review Their Fossil Fuel Subsidies

U.S. and China Review Their Fossil Fuel Subsidies

China and the U.S. are the world’s largest greenhouse gas emitters, and both countries still heavily subsidize fossil fuels. Last week, the two countries released reviews of their fossil fuel subsidies as part of the G20 framework, which are reviewed by officials from China, Germany, Mexico, and the Organization for Economic Cooperation and Development (OECD). At the 2009 Pittsburgh Summit , leaders of the G20 countries agreed to launch a framework and collaborate for “lasting economic recovery” and strong, sustainable growth. The U.S and China are the first to release reviews under the G20 framework. Both countries committed to eliminate and consolidate fossil fuel subsidies as part of the review process, a promise they made in 2013. The reviews found inefficiencies in both countries’ subsidy systems — and both face challenges in fixing that problem. China is a “developin...

Full article: http://www.triplepundit.com/2016/09/u-s-china-review-foss...

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