fuel subsidies

There are celebrations in Ecuador. They began on October 13, when the government and the Indigenous movement, centrally grouped in the Confederation of Indigenous Nationalities of Ecuador (CONAIE), announced they had reached an agreement on Decree 883, which removed fuel subsidies.

The response was twofold.

One side event at the COP21 United Nations climate change conference in Paris was the launch of the Fossil-Fuel Subsidy Reform Communique. Almost 40 countries signed onto the statement, which pledges to eliminate subsidies to the fossil fuel industry. The communique said: “The International Energy Agency (IEA) highlights fossil fuel subsidy reform as a key component of a set of energy measures to combat climate change and estimates that even a partial phase-out of fossil-fuel subsidies would generate 12% of the total abatement needed by 2020 to keep the door open to the 2°C target.”
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