Despite international commitments within frameworks like the UN and the Group of Twenty, the challenge remains daunting. In 2022, fossil fuel subsidies astonishingly doubled to $1.5 trillion, funding activities from coal mining to reducing petrol prices. in 2022. The workshop underscored the difficulties of phasing out such finance in the face of public opposition, as well as the limitations of existing international pledges to cut these subsidies, pointing out the need for more precise commitments that include clear roadmaps and leave no room for loopholes.
The insights gained have been summarized in a blog post on the Green Fiscal Policy Network website: https://greenfiscalpolicy.org/blog/strengthening_commitments_lessons/