iied.org
Making subsidy reform work for nature, climate and people
IIED is building evidence and partnerships to support the reform and repurposing of environmentally harmful subsidies. This work explores past approaches, identifies opportunities to redirect public spending towards positive incentives, examines geopolitical and macroeconomic challenges, and engages businesses to advance reforms that support nature, climate resilience and sustainable development. Collection UN biodiversity conference (COP17) A series of pages related to IIED's activities around the 17th Convention on Biological Diversity conference (COP17) While governments provide subsidies to keep prices low for domestic consumers, they are increasingly supporting business models that have negative impacts for people and planet. Current subsidies – including in the energy, agriculture and fisheries sectors – incentivise destructive practices and make it harder for poor communities, sustainable businesses and least developed countries to transition to more sustainable practices while undermining livelihoods, food security and climate resilience. The need to reform environmentally harmful and socially regressive subsidies is well evidenced, and the political will for reforms has been expressed in several global agreements such as Target 18 of the Kunming-Montreal Global Biodiversity Framework (GBF), sector-specific agreements such as the World Trade Organization (WTO) Agreement on Fisheries Subsidies, and plurilateral agreements such as the Agreement on Climate Change, Trade and...
