Climate change caused by greenhouse gas emissions is no longer a prediction about the future, but rather an increasingly challenging reality that countries and communities around the world are already trying to mitigate. CO2-emitting fossil fuels are major contributors to these climatic changes as well as to degrading local air quality. Yet most of the world’s economies remain highly dependent on hydrocarbons. This is despite ambitious commitments by governments around the world to reach net-zero carbon emissions by diversifying their energy mix away from fossil fuels and moving to clean and renewable sources of energy (RE).

Contrary to overly optimistic predictions, energy transition has been relatively slow in most cases. This not only impedes countries in meeting their Nationally Determined Contributions (NDCs), but is now exacerbating the energy security and economic implications of the current global energy crisis.

This webinar will explore definitions of fossil fuel subsidies and investigate this policy’s overreaching implications. Neil McCulloch, economist and Director of the Policy Practice, as well a subsidy reform advocate who recently published a book titled “Ending Fossil Fuel Subsidies”, will address these issues, along with Carole Nakhle, the founder and Chief Executive Officer of Crystol Energy, in addition to Marc Ayoub, PhD Researcher, University of Galway, both Associate Fellows at the Issam Fares Institute. The event will be moderated by LCPS Researcher, Ali Taha.