Date: Monday 30 November 2015, 12:45–13:15 pm CET
Venue: Le Bourget, COP21 Momentum for Change Room, Press Conference Room 1, Blue Zone
Status: Open to all, with COP21 badge
The Friends of Fossil Fuel Subsidy Reform and The Prince of Wales’s Corporate Leaders Group invite you to the delivery of the Fossil Fuel Subsidy Reform Communiqué on COP21 Leaders Day on 30 November 2015 in Paris.
Heads of Governments and business leaders will deliver a message to the world that the time for global action on fossil fuel subsidies is now.
Through this Communiqué, more than 30 countries and hundreds of businesses and organisations call on the international community to accelerate action to eliminate fossil fuel subsidies to combat climate change.
Fossil fuel subsidy reform will help governments achieve their COP21 commitments. Removing subsidies would deliver a 10 per cent reduction in GHG emissions by 2050. This is the missing piece of the climate change puzzle.
Globally governments spend over $500 billion per year to keep domestic prices for oil, gas and coal products artificially low. Removing these subsidies frees up resources to invest in social and physical capital like education, health and infrastructure. It also levels the playing field for renewable energy.