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Consequently, UNDP has initiated a research and policy dialogue process, aiming to assess the potential effects of higher prices of different fossil fuels as a result of phasing out of fossil fuel subsidies and imposing additional fuel taxes, on the general A national consultant will be hired to analyze the current situation in this thematic field, identify problems and shortcomings and suggest actions to address these issues. • better understanding of the socio-economic contexts of communities likely A to be affected by such reforms: Undertaking successful fossil fuel subsidy re-form requires a clear analysis of existing levels of subsidy support, the reasons In total, $ 423 billion is used each year to subsidize this type of fuel "I know a thing or two about extinction. The new UNDP campaign against fossil fuel subsidies sees a dinosaur, voiced by global stars in various languages including Jack Black, Eiza Gonzalez, Nikolaj Coster-Waldau and Aïssa Maïga . "The world largest economies are still spending disproportionate amounts of resources on fossil fuel subsidies that are putting our climate at risk of the 1.5 degrees tipping point," said Enrico Gaveglia, UNDP Resident Representative in the Maldives. there are still substantial, largely indirect, fossil fuel subsidies. Diverting fossil fuel subsidies into universal health care or education causes, for instance, would make an "amazing, immediate difference" to the planet and people's lives, says Kanni Wignaraja . Show more As per the report, every year, governments worldwide spend a whopping $423 . It's worth remembering that Donald Trump's first secretary of state, Rex Tillerson, wears the Order of Friendship, personally pinned on his lapel by Putin in thanks for the vast investments Tillerson's firm (that would be Exxon) had made in the Arctic - a region opened to their . UNDP. UNDP - Fossil fuel subsidies reform could limit climate change while tackling global inequalities. Ending fossil fuel subsidies is more important than ever and plans are underway to continue the campaign throughout the year, with a series of events, activations, and thought leadership designed . 10/29/2021, 4:14:32 AM. In light of the findings of the latest IPCC report, which highlight the rapid changes caused by human-induced global warming, there is an urgent . With that in mind, UNDP's research advocates for a progressive and gradual response to reforms. EIB supports UNDP campaign to rethink subsidies for fossil fuels. Fossil fuel fiscal policy reform has substantial benefits including enhanced energy efficiency, energy supply and national energy security, a reduction of the fiscal burden, higher GDP growth in the medium to longer term, as well as positive impacts on the environment. A new report on fossil fuel subsidies released on October 26 by the UNDP says the amount spent by governments annually to prop up fossil fuel companies could be used to pay for every person on the planet to be vaccinated against Covid-19. Removing fossil fuel subsidies is key to reduce greenhouse gas emissions and limit climate change. Here's how. The new 'Don't Choose Extinction' campaign aims to raise awareness of the detrimental effects of fossil fuel subsidies on people and planet. . Fossil fuel subsidies are both inefficient and inequitable. Achim Steiner, Administrator of the UNDP tells Tania Bryer why this is. According to the UN Development Programme , an average of $423 billion dollars of public funds are spent every year on fossil fuel subsidies, and despite international commitments, subsidies are not being phased out but are increasing. Steiner, who spoke at the launch of the group's new "Don . UNDP's Policy Toolkit for a Fair Energy Pricing Reform Achim Steiner, administrator of the UNDP, tells Tania Bryer why this is so crucial. the UNDP's don't choose extinction campaign and video aim to shine a spotlight on fossil fuel subsidies and how they are canceling out significant progress towards ending climate change and . These subsidies are a major obstacle to achieving climate and sustainable development goals because they . said Achim Steiner, UNDP Administrator. QUNO - Fossil Fuel Subsidy Reform: What Role for the World Trade Organization? Let's end the excuses. But UNDP's analysis shows that fossil fuel subsidy reforms can also be unfair and harmful for households and society if they are poorly designed. Photo credits from top to bottom: Mike Marrah/Unsplash, UNDP Mauritius/Stephane Bellerose, UNDP Mauritania/Freya Morales Across developing countries, about half of the amount of public resources spent to support fossil fuel consumption benefits the richest 20 percent of the population, according to the IMF. We, the Friends of Fossil Fuel Subsidy Reform, lend our voice to the UNDP campaign "Don't Choose Extinction" that calls for an end to spending public funds on fossil fuel subsidies every year. The dinosaur's speech focused on fossil fuel subsidies and the COVID-19 pandemic. . said Achim Steiner, UNDP Administrator. Challenges; . However, if poorly planned, fossil fuel subsidy reform can lead to price increases that could impact the poorest and trigger social unrest. UNDP: More spent on fossil fuel subsidies than fighting poverty. Here's how December 23, 2021 Mathew D. Rose Climate Crisis , Economics , Energy , Environment , Finance , Inequality , Solutions , Sustainability 0 [66] Eliminating fossil fuel subsidies would greatly reduce global carbon emissions [67][68][69][70] and would reduce the health risks of air pollution. Here's how. Our governments currently spend about $420 billion per year supporting fossil fuels. As custodian agency for the SDG indicator 12.c.1, UN Environment has developed a methodology to measure fossil fuel subsidies so as to . These are the first words of Frankie, an original speaker who spoke Wednesday at the podium of the United Nations (UN). Beyond being environmentally impactful, such reforms must be socially and economically fair to be accepted by citizens. We, the Friends of Fossil Fuel Subsidy Reform, lend our voice to the UNDP campaign "Don't Choose Extinction" that calls for an end to spending public funds on fossil fuel subsidies every year. UNDP research released as part of the campaign shows that the world spends an astounding US $423 billion annually to subsidize fossil fuels for consumers. IF YOU WANT TO TRANSFORM THE WORLD - YOU HAVE TO TRANSFORM WITH IT! Fossil Fuel Subsidies. UNDP's research highlights the key . 2021 will see a global dashboard for vaccine equity and a new fossil fuel subsidy reform simulator, both of which we know are fundamental to building forward better. Man-made climate change will cause more frequent and more intense fires, floods, storms, hurricanes, droughts and heatwaves . This contributes to making fossil fuels reform difficult, and imposes a key barrier to transitioning to clean and renewable energy sources. This was revealed to CNBC by Achim Steiner, the chief of the United Nations Development Programme. In October, 2021, UNDP launched the campaign #Dontchooseextinction as a response to the monumental challenge of billions of dollars spent on fossil fuels subsidies while hundreds of millions of people live in poverty. [71] As of 2021 fossil fuel subsidies are thought to be higher than environmentally harmful . But UNDP's analysis shows that fossil fuel subsidy reforms can also be unfair and harmful for households and society if they are poorly designed. And the number is expected to rise to about 7.4 percent in 2025. . UNDP's research found that four factors are key for a successful fossil fuel subsidy reform. To spotlight its hugely negative impacts, an engaging short film was produced, with a talking dinosaur to the United Nations' headquarters, to urge more climate . Also on rt.com European energy crisis caused by impulsive transition from fossil fuels - Rosneft boss Sechin it is a Pigovian tax). 2021 will see a global dashboard for vaccine equity and a new fossil fuel subsidy reform simulator, both of which we know are fundamental to building forward better. The United Nations Development Program (UNDP) released a video yesterday in which one of the most famous extinct animals, the dinosaur, in a speech to the UN General Assembly called on world leaders to stop supporting the use of fossil fuels, in order to draw attention to the negative effects of subsidies. Consumer subsidies comprise pre-tax and post-tax subsi- Fossil fuel subsidies (FFSs) cover policies that support the production or con-sumption of fossil fuels through either direct transfers or induced transfers in the form of price support. Research by UNDP highlights that the world spends $423 billion annually to subsidize fossil fuels for consumers including oil, gas, and coal. A fuel tax is a carbon tax if the primary intent is the imposition of an explicit charge on the consumption of fossil fuels in order to compute the cost of greenhouses emissions in the final price (i.e. UNDP has proposed Vietnam remove fossil fuel price subsidies which amounted to US$1.2-4.49 billion in 2007-2012 The 'Don't Choose Extinction' campaign of the United Nations Development Program (UNDP) is meant to shine a spotlight on fossil fuel subsidies and how they are canceling out significant progress towards ending climate change and are driving inequality by benefiting the rich.. A UNDP research released as part of the campaign shows that the world spends an astounding $423 billion annually . The organization will continue to support countries with COVID-19 and green recovery plans that foster a transition to a low-carbon, climate-resilient and fair development path. "Addressing fossil fuel subsidies is a politically charged issue, but the facts show that reform is both necessary, and when done correctly, supports the poor, creates jobs, and protects the planet," said George Gray Molina, Lead Economist of UNDP's Bureau for Policy and Programme Support and co-author of the research. This is why UNDP has prepared a toolkit for fair energy pricing reform with income protection and compensation schemes for least . Frankie the Dinosaur Goes Viral: UNDP's "Don't Choose Extinction" Campaign to End Fossil Fuel Subsidies Reaches 1.5 Billion on Social Media Article FREE Breaking News Alerts from . (Image credit: United Nations Development Programme) (opens in new tab) A new report (opens in new tab) on fossil . There is no time to lose.", says Shoko Noda, Resident Representative, UNDP India UNDP's 'Don ' t Choose Extinction' campaign and film aim to shine a spotlight on fossil fuel subsidies and how they are canceling out significant progress towards ending climate change and are driving inequality by benefitting the rich. While fossil fuel subsidies are regressive -and thus constitute an unequalising tool, they also represent a significant share of the incomes of the poor that otherwise would be paid for energy consumption. Ending Fossil Fuel subsidies is the first domino, so to speak, that needs to fall to make all of the other solutions more viable. The new 'Don't Choose Extinction' campaign aims to raise awareness of the detrimental effects of fossil fuel subsidies on people . UNDP Moldova launches "Don't Choose Extinction" campaign to raise awareness of the detrimental effects of fossil fuel subsidies on people and environment 12 November 2021 To spotlight its hugely negative impacts, an engaging short film was produced, with a talking dinosaur to the United Nations' headquarters, to urge more climate action . Fossil fuel subsidy reforms would contribute to reducing CO2 emissions and benefit human health and well-being, and they are a first step towards correctly pricing energy - one that reflects the . George Gray Molina (UNDP), Maria Montoya-Aguirre (UNDP), and Samantha Happ (UNDP). Frankie the Dinosaur Goes Viral: UNDP's "Don't Choose Extinction" Campaign to End Fossil Fuel Subsidies Reaches 1.5 Billion on Social Media When Frankie the Dinosaur unexpectedly entered the historic UN General Assembly Hall and addressed global delegates he had a simple message for humanity, "Don't Choose Extinction". The world spends a huge amount of USD 423 billion annually to subsidize fossil fuels for consumers on oil and electricity that is generated by burning of gas and oil, says a report by the United Nations Development Programme (UNDP). With that in mind, UNDP's research advocates for a progressive and gradual response to reforms. While fossil fuel subsidies tend to be an unequalising tool - as the lion's share of the benefits concentrate among the rich - these subsidies also represent an important portion of poor peoples . UNDP: Fossil fuel subsidies reform could limit climate change while tackling global inequalities. UNDP: More spent on fossil fuel subsidies than fighting poverty. Fossil fuel subsidies' removal thus could easily become an income- and energy-impoverishing strategy. Ending fossil fuel subsidies is more important than ever and plans are underway to continue the campaign throughout the year, with a series of events, activations, and thought leadership designed . Fossil fuel subsidies 'removal thus could easily become an income- and energy-impoverishing strategy. "Addressing fossil fuel subsidies is a politically charged issue, but the facts show that reform is both necessary, and when done correctly, supports the poor, creates jobs, and protects the planet," said George Gray Molina, Lead Economist of UNDP's Bureau for Policy and Programme Support and co-author of the research. UNDP - Fossil fuel subsidies reform could limit climate change while tackling global inequalities. "Addressing fossil fuel subsidies is a politically charged issue, but the facts show that reform is both necessary, and when done correctly, supports the poor, creates jobs, and protects the planet," said Mr. George Gray Molina, Lead Economist of UNDP's Bureau for Policy and Programme Support and co-author of the analysis. A summary of key insights from UNDP China 2021 Policy and Issue Briefs. "Ending financial support for them in a way that is fair and equitable is a critical element of [the advocated] transition," he admitted. This contributes to making fossil fuels reform difficult, and imposes a key barrier to transitioning to clean and renewable energy sources. "Addressing fossil fuel subsidies is a politically charged issue, but the facts show that reform is both necessary, and when done correctly, supports the poor, creates jobs, and protects the planet," said George Gray Molina, Lead Economist of UNDP's Bureau for Policy and Programme Support and co-author of the research. A special thanks to our tech partner Prime Computer. A summary of key insights from UNDP China 2021 Policy and Issue Briefs. As the UNDP director, . "Addressing fossil fuel subsidies is a politically charged issue, but the facts show that reform is both necessary, and when done correctly, supports the poor, creates jobs, and protects the planet," said George Gray Molina, Lead Economist of UNDP's Bureau for Policy and Programme Support and co-author of the research. According to a new IMF analysis, subsidies added up to $5.9 trillion in 2020, or about 6.8 percent of global GDP. . Are you with us? Individuals from minority groups, indigenous groups and persons with disabilities are equally encouraged to apply. Every year, countries worldwide spend $423 billion (N173.79 trillion) of government funds to support the use of fossil fuels. But UNDP's analysis shows that fossil fuel subsidy reforms can also be unfair and harmful for households and society if they are poorly designed. 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