G7 fossil fuel subsidy scorecard: tracking the phase-out of fiscal support and public finance for oil, gas and coal

While progress is being made to transition away from fossil fuels, this analysis shows that G7 governments continue to provide at least $100 billion in subsidies to the production and use of coal, oil and gas, which may hinder or delay these shifts. Despite their numerous commitments, not only have G7 governments taken limited action to address fossil fuel subsidies but they have also failed to put in place any mechanisms to define and document the full extent of their support to oil, gas and coal, or to hold themselves accountable for achieving these pledges. The G7 fossil fuel subsidy scorecard aims to address this accountability gap and track, for the first time, each G7 country's progress in phasing out fossil fuel subsidies across seven indicators. The authors find that, with less than seven years to meet their 2025 phase-out deadline, G7 governments continue to provide substantial support the production and use of oil, gas and coal. On average per year in 2015 and 2016 the G7 governments gave at least $81 billion in fiscal support and $20 billion in public finance, for both production and consumption of oil, gas and coal at home and overseas.