President Nicholas Sarkozy spoke recently about the frustration of Copenhagen and wanting a renewed effort on climate change. He said new sources of funding are needed for the $100 billion committed at Copenhagen to underdeveloped nations by 2020. When France takes over as chair of the G20 next year, Sarkozy will be pushing for a tax on financial transactions.

Sarkozy is a leader in global activity to fight climate change, urging both a carbon tax and this financial tax at Copenhagen in December, 2009 the first world leader to do so. The financial tax proposed has already seen support from Britain. The financial transactioan tax has been recommended by civil society for a range of purposes, over time.