Subscribe to our free daily newsletters
  Energy News  

Subscribe to our free daily newsletters

France sees transaction tax as best to raise climate funds

by Staff Writers
Paris (AFP) Jan 25, 2011
A financial transactions tax is the best way to raise funds to battle global warming, but France expects a tough fight to get an agreement during its G20 presidency, Finance Minister Christine Lagarde said Tuesday.

"We know it will be a real difficult battle because a number of countries are opposed, beginning with the United States," she said at a conference organised by the International Herald Tribune and France's diplomatic academy.

Under the Copenhagen climate agreement reached in December 2009, developed nations are to begin funding $100 billion (74 billion euros)a year of projects to mitigate climate change effects in developing countries from 2020.

Lagarde said looking at current deficits it is unrelistic to expect the funds to come from direct budget contributions.

"So the alternative financing is going to be an innovative financing," said the minister.

She said financial transaction tax on currency transactions is feasible as they are easily traceable, and that the small tax would hardly be felt on each transaction but as the market was big would raise large amounts.

She said France, which holds the G20 presidency this year, was open to other ideas on how to raise the $100 billion in climate change funds.

earlier related report
Obama energy, climate adviser to step down: report
Washington (AFP) Jan 24, 2011 - US President Barack Obama's top energy and climate change adviser will step down in the coming weeks, the Politico news website said Monday, citing White House officials.

The departure of Carol Browner comes as passage of major clean energy legislation appeared increasingly unlikely under the new Republican majority controlling the House of Representatives.

"She will stay on as long as necessary to ensure an orderly transition," Politico quoted a White House official as saying.

"Carol is confident that the mission of her office will remain critical to the president, and she is pleased with what will be in the (State of the Union address) and in the budget (next month) on clean energy."

The White House would not immediately comment on the report.

Browner had served as the head of the US Environmental Protection Agency (EPA) for eight years under former president Bill Clinton and was at the forefront of the Obama administration's response to the BP oil spill.

She had played a key role in Obama's efforts to pass wide-ranging energy legislation with a "cap-and-trade" program to restrict emissions in the world's second largest polluter before the bill died in the Senate last year.

The bill would face even greater hurdles now, with Republicans -- who say new regulations on businesses would stifle any economic recovery -- in control of the House and an enhanced presence in the Senate.

Share This Article With Planet Earth DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook

Related Links

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Green Touches Energize Kennedy's Newest Facility
Cape Canaveral FL (SPX) Jan 25, 2011
Kennedy Space Center rang in 2011 with the grand opening of NASA's "greenest" facility on Jan. 20. As the new hub for fueling spacecraft on journeys to unlock the mysteries of the universe, the Propellants North Administrative and Maintenance Facility will tap into Earth's most natural resources. "This is our start. This is setting the standard," said Kennedy's Center Director Bob Cabana. ... read more

Pacific Rim nations mull energy sharing

France sees transaction tax as best to raise climate funds

Green Touches Energize Kennedy's Newest Facility

China and the U.S. sign energy deals

Heritage makes giant gas find in Iraqi Kurdistan

Iraq exported less oil but earned more in 2010

Exxon Mobil looks for shale gas in Germany

New bill pending to avoid next oil spill: US senator

U.S. behind China in wind power energy

German wind sector hopes for 2011 comeback

Mortenson Construction And enXco Partnership Build Sister Wind Projects

Lucintel Benchmarks Wind With Solar Energy

Centrosolar Scores TSMC Europe Project

Solar Thin-Film Manufacturers Enticed To UK By Vibrant Solar Market

Dymon Power Corporation Awards Contract To Ontario Solar Provider

The Practical Full-Spectrum Solar Cell Comes Closer

China to boost nuclear power

Poland eyes EUR25 bln investments as it goes nuclear

Russia to help Belarus build nuclear power plant

Nuclear cleanup plant questioned

Biofuels Production From Integrated Seawater Agriculture System

Bioplastics And Biofuels Partnership Opportunities Are Drying Up

China Will Scale Faster Than US In Race For New Transport Fuels

Celanese Signs LoI For Ethanol Production Facilities In China

China Builds Theme Park In Spaceport

Tiangong Space Station Plans Progessing

China-Made Satellite Keeps Remote Areas In Venezuela Connected

Optis Software To Optimize Chinese Satellite Design

China farmers to get $15 bn subsidies amid drought

Man, Volcanoes And The Sun Have Influenced Europe's Climate Over Recent Centuries

Climate change: Dogs of law are off the leash

IEA's Birol: Say goodbye to climate goals

The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement