Prime Minister, New Zealand, Jacinda Ardern has said there is no point keeping fossil fuel subsidies while fighting to reverse climate change.
Speaking at the Goalkeepers Summit in New York on Wednesday, Ardern said the global leaders must go beyond just gross domestic product (GDP) to driving a wellbeing agenda for the greatest number of people — without ignoring the minority.
She enjoined countries to look for “how to improve peoples wellbeing and achieve a productive economy at the same time. In a way that enhances rather than diminishes our environment and leave no one behind”.
“We also look for practical ways to get closer to our shared goals, and I want to give an example, and that is our work alongside other to eliminate fossil fuel subsidies and other environmentally harmful subsidies,” Ardern said.
“There is no point in subsidising the climate change that we seek to reverse, but ultimately, we need more collaboration, more examples of the international community prioritising our collective global wellbeing over domestic self-interest.”
Nigeria, Saudi Arabia, and Malaysia are some of the few countries left subsidising fossil fuel, while signing up to combat climate change.
According to the International Monetary Fuel, the world still spends as much as $5.2 trillion subsidising fossil fuels globally.
