Support to fossil fuel production and use in OECD countries is estimated to have been about USD 45-75 billion a year in recent years; developing and emerging economies provided USD 409 billion in 2010 (IEA data). However, fossil fuel subsidy reforms should be implemented carefully while addressing potential negative impacts on households through appropriate measures. The cost of mitigation could be significantly reduced if R&D could come up with new breakthrough technologies. For example, emerging technologies -such as bioenergy from waste biomass and CCS - have the potential to absorb carbon from the atmosphere.