Just 8% of the $409bn spent on fossil-fuel subsidies in 2010 went to the poorest 20% of the population.

We are on track for a 3.5 deg C rise by 2040 (i.e. 4.2 deg C relative to pre-industrial)... When I look at this data, the trend is perfectly in line with a temperature increase of 6 degrees Celsius, which would have devastating consequences for the planet. We have 5 years to change the energy system, or have it changed

Energy is significantly underpriced in many parts of the world, leading to wasteful consumption, price volatility and fuel smuggling. It's also undermining the competitiveness of renewables.

There are many disturbing news. We believe that the production of conventional petroleum reached peak oil already in 2006. The oil fields in the North Sea and the US are collapsing ... time is running out.

Energy markets can be thought of as suffering from appendicitis due to fossil fuel subsidies. They need to be removed for a healthy energy economy.