Phase out fossil fuel subsidies to combat climate change: GWEC

Greentech Lead

At the Lima Climate Change Conference today, Global Wind Energy Council (GWEC) recommended phasing out of fossil fuel subsidies and aggressive emission reduction targets as key policy changes to facilitate energy revolution.

Governments should also implement an effective price on CO2 emissions and ensure the functioning of electricity markets that accurately value wind and solar, as well as clean air and water, GWEC said.

Wind and solar will prevent the emission of 3,800 million tons of CO2 each year by 2030, and it could be much more with the right policy and market framework, the global wind agency said.

Solar and wind are transforming the energy sector. These renewable energy sources play a huge role in combating climate change.

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