As we get into the nitty-gritty of ADP negotiations here in Geneva, it is always important to keep in mind the events and discussions happening outside of the UNFCCC process. For those unaware, finance ministers from the G20 are gathering today and tomorrow in Turkey to discuss G20 priorities, two of which are climate change and climate finance this year.
From Geneva to Istanbul, we’d like to remind our finance ministers of a commitment their leaders made over 5 years ago: to phase out fossil fuel subsidies. It’s a pity that governments have to be reminded over and over again of their commitments, but we’ll keep doing so until they are fulfilled.
Last Friday, 40 NGOs from countries all over the world sent a letter to the Turkish G20 President and all G20 finance ministers, calling on the phase-out of fossil fuel subsidies. The letter called for the immediate elimination of production and exploration subsidies because, let’s face it, that money could be much better spent on climate action at home and abroad.
If the G20 really wants to prioritise climate change and climate finance, then ministers should tighten those purse strings and stop support for fossil fuels.