IISD: Brief on Phasing Out Fossil Fuels

In a policy brief titled "A high-impact initiative for Rio+20: A pledge to phase out fossil-fuel subsidies," the Global Subsidies Initiative of the International Institute for Sustainable Development (IISD) has recommended that countries adopt a pledge to phase out fossil-fuel subsidies that compromise sustainable development, as well as to assist other countries with such a phase-out. Countries taking the pledge would commit to a transparent annual reporting and review, and providing technical and financial assistance for developing countries.