Shifting Public Financial Flows From Fossil Fuels to Clean Energy Under the Paris Agreement

The report finds that public financial flows have not aligned with Paris Agreement goals, with fossil fuel subsidies increasing significantly since 2015, reaching over USD 1 trillion in 2022. It argues that these subsidies incentivize emissions and hinder clean energy deployment, while recommending improved transparency, accountability, and national planning to transition these flows.

• Fossil fuel subsidies have increased since the 2015 Paris Agreement, reaching USD 732 billion in 2021 (a 35% increase from USD 543 billion in 2015) and further rising to USD 1.1 trillion in 2022 based on preliminary International Energy Agency estimates.
• Fossil fuel subsidies obstruct the Paris Agreement by encouraging the production and consumption of fossil fuels, increasing greenhouse gas emissions, and creating an uneven playing field for clean energy technology investment.
• To transition public financial flows toward clean energy, the report recommends enhancing transparency, improving the accountability of global commitments, and implementing national planning focused on pricing, impact management, and building support.

APA

Gerasimchuk,, I. U. F. B. (2023). Shifting Public Financial Flows From Fossil Fuels to Clean Energy Under the Paris Agreement. International Institute for Sustainable Development. https://www.iisd.org/publications/report/global-stocktake-shifting-public-financial-flows

Chicago

Gerasimchuk,, Indira Urazova,Susanne Flinner,Christopher Beaton,Ivetta. Shifting Public Financial Flows From Fossil Fuels to Clean Energy Under the Paris Agreement. International Institute for Sustainable Development, 2023. https://www.iisd.org/publications/report/global-stocktake-shifting-public-financial-flows.

Wikipedia

{{cite report |last1=Gerasimchuk, |first1=Indira Urazova,Susanne Flinner,Christopher Beaton,Ivetta |title=Shifting Public Financial Flows From Fossil Fuels to Clean Energy Under the Paris Agreement |publisher=International Institute for Sustainable Development |date=15 March 2023 |url=https://www.iisd.org/publications/report/global-stocktake-shifting-public-financial-flows |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{gerasimchuk2023shifting, author = {Gerasimchuk,, Indira Urazova,Susanne Flinner,Christopher Beaton,Ivetta}, title = {{Shifting Public Financial Flows From Fossil Fuels to Clean Energy Under the Paris Agreement}}, institution = {International Institute for Sustainable Development}, year = {2023}, month = mar, url = {https://www.iisd.org/publications/report/global-stocktake-shifting-public-financial-flows}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }