Sept. 10, 2023 — See today’s document (complete for download, below):
India hints at how weak the G20 really is, after leading/hosting it. The grouping has failed to address wasteful fossil-fuel subsidies for 14 years.
Three areas of G20 failure over 14 years
This is what they said then …ring a bell?
“To phase out and rationalize over the medium term inefficient fossil fuel subsidies while providing targeted support for the poorest. Inefficient fossil fuel subsidies encourage wasteful consumption, reduce our energy security, impede investment in clean energy sources and undermine efforts to deal with the threat of climate change.
We call on our Energy and Finance Ministers to report to us their implementation strategies and timeline for acting to meet this critical commitment at our next meeting.
We will promote energy market transparency and market stability as part of our broader effort to avoid excessive volatility.”