Committee on Social Affairs, Health and Sustainable Development
In the draft resolution, at the end of paragraph 2.2, insert the following words:
", and is targeted with due regard to their international obligations, in particular the Paris Agreement;"
Explanatory Note :
Developed countries subsidise the fossil fuel industry by paying the cost of externalities (air pollution and climate change) and through preferential treatment, tax breaks or direct subsidies. A fiscal stimulus package may stimulate short-term growth at the expense of long-term sustainable development.