G20 Finance Ministers Look Forward to Effective Green Climate Fund Design
15 October 2011: The Group of 20 (G20) issued a Communiqué of Finance Ministers and Central Bank Governors highlighting their support for the effective design of the Green Climate Fund as part of the Durban outcome.
The G20 meeting of Finance Ministers took place in Paris, France, from 14‐15 October 2011. In their Communiqué, Ministers indicate they debated options for innovative financing, as well as a range of different financial taxes, and "look forward to Bill Gates' report on financing for development."
The Communiqué further provides that Ministers: discussed a report on mobilizing climate finance by the World Bank, the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD) and regional development banks; called for further work by Multilateral Development Banks and UN organizations; and look forward to an "effective design for the Green Climate Fund, based on the work of the Transitional Committee as an element of a balanced outcome of Durban," referring to the upcoming 17th session of the Conference of the Parties (COP 17) to the UN Framework Convention on Climate Change (UNFCCC) in Durban, South Africa. [G20 Finance Ministers Communiqué]