By Pietro Lombardi
MADRID (Reuters) – Dutch Climate Minister Rob Jetten said on Monday he would work in coming weeks to set up a strong international coalition to phase out subsidies and tax breaks tied to the use of fossil fuels blamed for global warming.
“An immediate phase-out of fossil fuel subsidies is complex, but we really have to think about what we can do in the upcoming years,” Jetten said in a statement to Reuters as he joined a global meeting of energy ministers and climate groups in Madrid.
His call follows the recent publication by the Dutch government of a report showing that such subsidies for industrial companies in the Netherlands amount to around 40 billion euros ($42 billion) a year.
The report was aimed at kicking off a global debate on such subsidies, since many are tied to international policies on aviation, shipping and other sectors. Many scientists say carbon emissions from fossil fuel use drives climate change.
“If we want to phase out fossil fuel subsidies and ensure we use this money for our local communities and for the green transition, we really need to speed up our international policies on phasing out fossil fuel subsidies,” Jetten said.
“So in the upcoming weeks I will try to strengthen the international coalition to phase out fossil fuel subsidies to ensure we can take proper steps forward and lead on the promise that we have already made many, many years ago.”
Ahead of the next U.N. climate change summit known as COP28 scheduled in Dubai from Nov. 30, countries remain divided between those demanding a deal to phase out planet-warming fossil fuels, and nations that insist on preserving a role for coal, oil and natural gas that are key to their economies.
($1 = 0.9493 euros)
(Reporting by Pietro Lombardi; editing by Mark Heinrich)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.