A new IMF report recommends cutting energy subsidies globally to reduce overall fossil fuel emissions, reports Brad Plumer.
The IMF has issued a new report that breaks down the cost of direct and indirect energy subsidies by country and analyzes the impact that revoking these subsidies could have on the climate.
Overall, countries around the world directly subsidize $480 billion in energy consumption annually, with developing countries in North Africa and the Middle East providing the highest subsidies for gas and electricity and spending more on energy than public projects.
Accounting for the failure of countries around the world to tax carbon, the real figure is closer to $1.4 trillion.
The U.S., Russia and China provide the largest subsidies for fossil fuels annually, and out of these, China is the only one with a modest carbon tax in the works.
Revoking these direct and indirect subsidies could reduce greenhouse gas emissions by 13 percent globally, according to the IMF.
FULL STORY: IMF: want to fight climate change? Get rid of $1.9 trillion in energy subsidies.
The Price of Global Energy Subsidies: $5.3 Trillion
An IMF working paper determined that global energy subsidies totaled $5.3 trillion this year, the worst offenders are China and the U.S. Placing a price on these subsidies, which include air pollution and carbon emissions, may be key to mitigation.
Seizing the Moment: Nations Slash Energy Subsidies as Oil Prices Fall
Just as plummeting oil prices have caused state and federal political leaders to consider raising gas taxes, leaders in developing nations, both oil producers and consumers, are considering reductions in national energy subsidies.
Trump Administration Unfreezes Pennsylvania Climate Funding Amidst Lawsuits
Funding for air and water quality programs still at risk.
What ‘The Brutalist’ Teaches Us About Modern Cities
How architecture and urban landscapes reflect the trauma and dysfunction of the post-war experience.
‘Complete Streets’ Webpage Deleted in Federal Purge
Basic resources and information on building bike lanes and sidewalks, formerly housed on the government’s Complete Streets website, are now gone.
The VW Bus is Back — Now as an Electric Minivan
Volkswagen’s ID. Buzz reimagines its iconic Bus as a fully electric minivan, blending retro design with modern technology, a 231-mile range, and practical versatility to offer a stylish yet functional EV for the future.
Healing Through Parks: Altadena’s Path to Recovery After the Eaton Fire
In the wake of the Eaton Fire, Altadena is uniting to restore Loma Alta Park, creating a renewed space for recreation, community gathering, and resilience.
San Diego to Rescind Multi-Unit ADU Rule
The city wants to close a loophole that allowed developers to build apartment buildings on single-family lots as ADUs.
Electric Vehicles for All? Study Finds Disparities in Access and Incentives
A new UCLA study finds that while California has made progress in electric vehicle adoption, disadvantaged communities remain underserved in EV incentives, ownership, and charging access, requiring targeted policy changes to advance equity.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
City of Albany
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research