IMF Fossil Fuel Subsidies Data: 2023 Update

IMF Fossil Fuel Subsidies Data: 2023 Update
Author :
Publisher : International Monetary Fund
Total Pages : 32
Release :
ISBN-10 : 9798400249006
ISBN-13 :
Rating : 4/5 (06 Downloads)

Book Synopsis IMF Fossil Fuel Subsidies Data: 2023 Update by : Mr. Simon Black

Download or read book IMF Fossil Fuel Subsidies Data: 2023 Update written by Mr. Simon Black and published by International Monetary Fund. This book was released on 2023-08-24 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a comprehensive global, regional, and country-level update of: (i) efficient fossil fuel prices to reflect supply and environmental costs; and (ii) subsidies implied by charging below efficient fuel prices. Globally, fossil fuel subsidies were $7 trillion in 2022 or 7.1 percent of GDP. Explicit subsidies (undercharging for supply costs) have more than doubled since 2020 but are still only 18 percent of the total subsidy, while nearly 60 percent is due to undercharging for global warming and local air pollution. Differences between efficient prices and retail fuel prices are large and pervasive, for example, 80 percent of global coal consumption was priced at below half of its efficient level in 2022. Full fossil fuel price reform would reduce global carbon dioxide emissions to an estimated 43 percent below baseline levels in 2030 (in line with keeping global warming to 1.5-2oC), while raising revenues worth 3.6 percent of global GDP and preventing 1.6 million local air pollution deaths per year. Accompanying spreadsheets provide detailed results for 170 countries.


IMF Fossil Fuel Subsidies Data: 2023 Update Related Books

IMF Fossil Fuel Subsidies Data: 2023 Update
Language: en
Pages: 32
Authors: Mr. Simon Black
Categories: Business & Economics
Type: BOOK - Published: 2023-08-24 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

This paper provides a comprehensive global, regional, and country-level update of: (i) efficient fossil fuel prices to reflect supply and environmental costs; a
Global Fossil Fuel Subsidies Remain Large: An Update Based on Country-Level Estimates
Language: en
Pages: 39
Authors: Mr.David Coady
Categories: Business & Economics
Type: BOOK - Published: 2019-05-02 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

This paper updates estimates of fossil fuel subsidies, defined as fuel consumption times the gap between existing and efficient prices (i.e., prices warranted b
Energy Subsidy Reform
Language: en
Pages: 390
Authors: Mr.Benedict J. Clements
Categories: Business & Economics
Type: BOOK - Published: 2013-09-13 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

Energy subsidies are aimed at protecting consumers, however, subsidies aggravate fiscal imbalances, crowd out priority public spending, and depress private inve
The Distributional Implications of the Impact of Fuel Price Increases on Inflation
Language: en
Pages: 34
Authors: Mr. Kangni R Kpodar
Categories: Business & Economics
Type: BOOK - Published: 2021-11-12 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer
The Politics of Fossil Fuel Subsidies and Their Reform
Language: en
Pages: 349
Authors: Jakob Skovgaard
Categories: Business & Economics
Type: BOOK - Published: 2018-08-23 - Publisher: Cambridge University Press

DOWNLOAD EBOOK

This comprehensive volume provides the first book-length account on the politics of fossil fuel subsidies. This title is also available as Open Access.