30 November 2015: At the opening of the 21st session of the Conference of the Parties (COP 21) to the UNFCCC, New Zealand’s Prime Minster John Key presented the Fossil-Fuel Subsidy Reform Communiqué to UNFCCC Executive Secretary Christina Figueres. The Communiqué, which calls on the international community to increase efforts to phase out subsidies for fossil fuel production and use, was endorsed by 40 governments and more than 100 businesses and international organizations.

The Communiqué was initiated by the Friends of Fossil Fuel Subsidy Reform (FFFsR) with the support of The Prince of Wales’s Corporate Leaders Group in order to increase the commitment by governments and corporate leaders to reform fossil-fuel subsidies as a significant contribution to climate change mitigation.

The Communiqué outlines the adverse environmental, economic and social impacts of fossil-fuel subsidies, noting that even a partial cancelling of subsidies could deliver up to 12% of the emissions reductions needed to limit temperature increase to below 2°C above pre-industrial levels.

Noting growing support for fossil-fuel subsidy reform, the document calls on the international community to engage in concrete action along three lines: engaging in a bottom-up approach to reform by increasing policy transparency and stakeholder engagement; increasing ambition with regard to the scope and time frames for reform; and providing targeted support to ensure that reform implementation safeguards the poorest.

The Communiqué includes an Annex, titled ‘Pathway to Reform,’ which outlines actions being undertaken by governments, international organizations and business leaders. [The Prince of Wales’s Corporate Leaders Group Press Release] [FFFsR Website] [Fossil-Fuel Subsidy Reform Communiqué] [UNFCCC Webcast of the FFFSR Communiqué Presentation] [Fossil-Fuel Subsidy Reform Factsheet] [IISD RS Coverage of UNFCCC COP 21]