Use financial tax to fund climate - French minister

Pascal Canfin says the member states that plan to introduce the tax should use it to finance mitigation and adaptation in poor countries

The “key battle” in the area of climate finance in the coming months will be over what the eleven EU member states that plan to introduce a financial transaction tax (FTT) next year will do with the revenues, a French minister has claimed.

France plans to finance its contribution to the Green Climate Fund (GCF) through the new tax and it wants the other 10 participating states to commit to doing so too, French development minister Pascal Canfin said on Wednesday night.

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