The United Nations University Institute for Water, Environment and Health (UNU-INWEH) reposted this
The Global Biodiversity Framework (GBF) has identified subsidy reform as critical to raising a significant portion of the estimated $700 billion needed annually to close the biodiversity finance gap by 2030. Likewise, globally, fossil fuel subsidies amount to around $7 trillion annually, according to the International Monetary Fund (IMF). Redirecting even a portion of these subsidies toward climate action could provide substantial funding for renewable energy, climate resilience, and green infrastructure. Join us in UN Environment Management Group second dialogue on repurposing subsidies on Tuesday 17 September to explore strategies undertaken for reforming and repurposing these subsidies by the relevant UN agencies . https://lnkd.in/ed8aHKGQ Registration here : https://lnkd.in/e3A84AJX Topics of discussion include: • Measuring and reforming harmful subsidies • Enhancing stakeholder coordination • Establishing best practices in policy-making In the first dialogue in May we had valuable presentations from UNEP, UNDP, UNCTAD, and the OECD on various subsidy reform initiatives. Highlights included: • The Harmful fisheries subsidies – David Vivas Eugui, UN Trade • Aligning public spending with biodiversity objectives – Katia Karousakis, OECD • The nature of subsidies – Mariana Bellot, BIOFIN • Fossil fuel subsidy reform to support climate action – Philip Gass, IISD The second dialogue will focus on measuring the impacts of subsidies to better inform policymaking and promote sustainable economic growth. Presenters from WTO, World Bank, FAO, GEF, and Sveriges Riksbank will participate. The third dialogue, scheduled for November, will focus on lessons learned at the country level and opportunities for interagency and interministerial collaboration. As a result of these deliberations we hope to prepare a compendium of UN tools and services to support countries and UN country teams in reforming subsidies, along with recommendations for enhancing interagency collaboration. https://lnkd.in/ed8aHKGQ
