Feature
Last update: November 19, 2024
Fossil subsidies: What happened to the phase-out plans at COP28 and COP26
A coalition of twelve countries chaired by the Netherlands promised a year ago to push ahead with the phase-out of fossil fuel subsidies. At COP28, the states signed a joint declaration committing them to publish an inventory within a year in order to develop a strategy for the abolition of inefficient fossil fuel subsidies. Funds from this could flow into the new climate finance target (NCQG), for example, as a study by German environmental associations shows.