US and China release fossil fuel subsidy peer reviews
Climate Home: With public assessment of each others’ subsidies, China and the US take a big step on transparency, but inch forward on reform
The world’s biggest polluters have released their fossil fuel subsidy peer reviews and the obstacles to reform are clear: the US will wait on Congress, while China will wait on China.
The documents, released on Monday by China’s G20 presidency, reveal the long road ahead. The G20 has commited to eliminate “inefficient” subsidies for coal, oil and gas in the medium term and the G7, of which the US is a member, has tightened the timeline to 2025.Continue reading...