iisdvideo 58d ago

The current global energy crisis demonstrates the heavy costs of our continued dependence on fossil fuels—it impacts households, industries, and government budgets. At the First Conference on Transitioning Away from Fossil Fuels, nearly 60 countries came together, recognizing the urgent need to look beyond fossil fuel subsidies and work to target direct support to the people who need it most. Our President and CEO Patricia Fuller shares her thoughts on the discussions at Santa Marta, and how coalitions like the Coalition on Phasing Out Fossil Fuel Incentives Including Subsidies (COFFIS) are essential in empowering countries to shift public finances and transition away from fossil fuels: "The open nature and collaborative approach to the discussions . . . bodes very well for this process to support greater ambition in the multilateral process."