Although Asia's share of global transport fossil fuel subsidies increased from 32% in 2010-2015 to 44% in 2015-2022, indicating more successful subsidy reduction efforts in other regions, Asian policymakers have made notable progress in curbing these subsidies within their transport sectors compared to other sectors. The transport sector's share of total fossil fuel subsidies in Asia decreased significantly from 22% in 2014 to 14% in 2022. This positive trend occurred despite the global surge in fossil fuel subsidies, which surpassed $1 trillion in 2022 due to energy market disruptions and inflated international fuel prices.
Fossil fuel subsidy for transport sector (billion USD) (2010 – 2022)
Source: (International Energy Agency (IEA), n.d.)
Find out more about the associated report here:
Transport Decarbonisation in Asia: A Glass Half-Full or Half-Empty? A Primer for COP-29
Download the report
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