To fight climate change we must end fossil fuel subsidies

By maintaining energy subsidies initially designed as temporary measures, we risk perpetuating our dependence on fossil fuels, writes Günther Thallinger and Ludovic Subran

The International Monetary Fund estimates that eliminating fossil fuel subsidies could prevent 1.6 million premature deaths annually, generate $4.4 trillion in revenues, and accelerate progress toward global climate goals.

When it comes to fossil fuel subsidies, distinguishing between their perceived benefits and actual impact has proven to be a critical global challenge.

While such subsidies may appear beneficial in the short term, they mask the profound environmental and economic consequences of our dependence on fossil fuels. Given the interconnected threats posed by climate change, the question remains: can we come to terms with reality and make decisions that genuinely benefit both ourselves and our planet?