Subsidization of fossil fuel and renewable energy

The paper proposes to address the topic in three different progressive steps.  First, it will provide a brief but necessary introduction to RE and the type of measures that are used to incentivise its use (‘RE measures’) and most importantly, to the most recent (<i>economic/political</i>) <i>assessment</i> of their <i>effectiveness</i> based on the experience of the major jurisdictions (e.g. EU, US).  Secondly, it will assess the various types of RE measures under the current WTO subsidy rules, most notably the GATT, the ASCM and the AG. This will turn on determining whether the measures identified in the first part raise any subsidy issue. More specifically, this exercise will necessitate establishing whether these measures satisfy the <i>definition</i> of subsidy and the other requirements which may make them legally <i>objectionable</i>.  Thirdly, assuming that certain RE measures are currently objectionable under WTO law, the final part of the paper will be devoted to the issue of the possible <i>legal justification</i> of RE measures under the current rules (by focussing on the controversial applicability of the ‘general exceptions’ under Article XX of the GATT) and – if these are deficient – suggest law reform (particularly by resurrecting the category of ‘non-actionable’ subsidies under the ASCM). This ‘justification idea’, which clearly goes beyond the mere legal discourse and is being increasingly aired in the scholarly circles, will be developed thoroughly at every stage from its economic, political, sociological and legal foundations up to suggesting a possible <i>operative legal framework</i> and a <i>draft text</i>.