THE GLOBAL SUBSIDIES INITIATIVE | UNTOLD BILLIONS:
FOSSIL-FUEL SUBSIDIES, THEIR IMPACTS AND THE PATH TO REFORM
The IEA study estimated that the removal of consumer subsidies in eight non-OECD countries would increase
annual GDP on average in those countries by 0.73 per cent. Individual country results ranged from an increase in GDP by 2.22 per cent in Iran to 0.10 per cent in South Africa.
The IEA study suggested that the removal of subsidies in eight non-OECD countries would lower their CO2 emissions by 16 per cent due to a decrease in energy use by 13 per cent. Globally this would amount to a decrease of CO2 emissions of 4.6 per cent.