This report aims to track each G20 country’s progress in phasing out subsidies to the production and consumption of coal through fiscal support, public finance and state-owned enterprise (SOE) investment.

With the recent UN warning that emissions are on track to exceed the 1.5°C rise by 2030, it is imperative that all parties at COP24 work together to realign finance flows to meet this crucial commitment.

This report highlights key considerations and sets out how to plan a just transition process in the energy sector. It is aimed at stakeholders in the just transition, including governments, businesses, investors and civil society.

Some G20 governments have made progress in shifting at least some support away from fossil fuels and increasing their taxation. This working paper has brought together examples illustrating how reforms can be enabled and implemented to align the flows of public money with the Paris Agreement and SDGs.

This research discovers that G20 country governments’ support to fossil fuel production marries bad economics with potentially disastrous consequences for climate change. In effect, governments are propping up the production of oil, gas and coal, much of which cannot be used if the world is to avoid dangerous climate change. The report documents, for the...