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The Guardian: WTO chief urges countries to prioritise subsidies that tackle climate crisis
WTO chief urges countries to prioritise subsidies that tackle climate crisisNgozi Okonjo-Iweala says current incentives are distorting world trade and hampering fight against climate breakdown
Fiona Harvey in Dubai
Tue 12 Dec 2023 01.00 EST
Governments must start to distinguish between the good subsidies they need to fight the climate crisis and the bad ones that are increasing greenhouse gas emissions, the world’s trade chief has said.
Subsidies and other incentives to burn fossil fuels and encourage poor agricultural practices, amounting to about $1.7tn a year, are distorting world trade and hampering the fight against climate breakdown, Ngozi Okonjo-Iweala, the director general of the World Trade Organization, told the Guardian.
“Can you imagine if we said, we are going to repurpose those subsidies into other friendly subsidies, like for research and innovation?” she said. “I don’t mind that kind of subsidy.”
She gave the example of clean cooking stoves in the developing world. Instead of subsidising fossil fuels, governments could subsidise clean stoves that use solar power or electricity instead of burning wood. “These kinds of subsidies, no one would be against,” she said.
…
Fiona Harvey in Dubai
Tue 12 Dec 2023 01.00 EST
Governments must start to distinguish between the good subsidies they need to fight the climate crisis and the bad ones that are increasing greenhouse gas emissions, the world’s trade chief has said.
Subsidies and other incentives to burn fossil fuels and encourage poor agricultural practices, amounting to about $1.7tn a year, are distorting world trade and hampering the fight against climate breakdown, Ngozi Okonjo-Iweala, the director general of the World Trade Organization, told the Guardian.
“Can you imagine if we said, we are going to repurpose those subsidies into other friendly subsidies, like for research and innovation?” she said. “I don’t mind that kind of subsidy.”
She gave the example of clean cooking stoves in the developing world. Instead of subsidising fossil fuels, governments could subsidise clean stoves that use solar power or electricity instead of burning wood. “These kinds of subsidies, no one would be against,” she said.
…