A trillion (dirty) dollar bill @Copacabana Beach. Photo: 350.org
One of the more concrete demands environmentalists put forward in the RIO+20 process is to phase out fossil fuel subsidies, ASAP. Climate change activists are using the UN Conference on Sustainable Development in order to put CO² reduction back on the agenda. This is understandable, given the spectacular failure of the COP15 negotiations in Copenhagen and the meager outcomes of the successive Durban conference. Getting rid of fossil fuel subsidies is a very head-on approach to reducing emissions, and it seems to gather remarkable support.
Under guidance from climate change action group 350.org, June 18 experiences a “twitterstorm” of climate activists with the demand to #EndFossilFuelSubsidies.
The campaign took on speed on Sunday June 17, when young activist unfolded a giant one trillion dollar note at Copacabana Beach, Rio de Janeiro. One trillion dollars, this is the amount of taxpayers money that is handed out for oil, gas and coal worldwide, according to estimates of Oil Change International. Of these, 630 billion Dollars are consumption subsidies in developing countries, 45 billion consumption subsidies in developed countries and a further 100 billion are production subsidies worldwide. This adds up to 775 billion; the missing amount to a trillion is said to exist in funding military to secure the carbon business, a hidden subsidy that occurs whereever military is protecting “strategically important resources”. We see: The trillion dollar sum is a political number, but without arguing over details, the amount that is spend on climate-killing practices is enormous, making public investment in renewables shrink in comparison. More transparent numbers would make for better accounting, Oilchange International argues.
Who benefits the most from this massive financial hand-outs?
With soaring energy prices in a highly concentrated market, energy oligopolists – giant corporations – profit on top of their already breathtaking revenues.
However, looking at the numbers, one can discern that a large degree of the benefits also go to consumers – also in the Global South. The campaigners have a clear answers: Other means must be found to support the global poor.
For it is the less well-to-do citizens of Asian, African, South American and Small Island countries that are likely to suffer the most from the catastrophic consequences of anthropogenic climate change. Kjell Kuehne, who works for an organization teaching climate justice to children, puts it drastically:”We just can’t continue to live our exaggerated lifestyles – we’re killing these people!”.
Going back to Big Oil, Big Gas and Big Coal, who do make a killing from subsidies. Cameron from the Canadian Youth Coalition on Climate Change (CYCC) is convinced that the multi-billion dollar carbon industry is responsible for the above-mentioned failure of concerted action on global warming. A study by Greenpeace entitled “Who’s holding us back” supports his view.
So, now a twitterstorm is blowing against them. Will this be enough? In 2009 global leaders already agreed on phasing out the subsidies – with precious little progress on the issue so far, thank you very much. So maybe the movement to #EndFossilFuelSubsidies is storming open doors, and implementation of the cuts will be arriving soon?
The lobbying power of the biggest business on the planet is not to be underestimated. Nevertheless it’s strategically clever for civil society to concentrate on concrete policy goals amongst all the hot air of the RIO+20 summit. In the end, the fossils will have to go.