OECD: 'Ample scope' for more cuts in fossil fuel subsidies

Major nations seem to be reducing fossil fuel subsidies but still have "ample scope" for deeper cuts in recent support of up to $200 billion (about €178 billion) a year, the Organisation for Economic Cooperation and Development (OECD) said on Monday.

Reductions in damaging subsidies for oil, coal and natural gas would reduce air pollution, save cash and help a shift to greener energies before a 30 November to 11 December UN summit in Paris on limiting climate change, it said.