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Global leaders need to look well beyond “band-aid and bail-out” short-term interventions designed to fix urgent economic crises – to create the long-term, green solutions the world so desperately needs.

“However, we have been encouraged that the G20 French Presidency made a Financial Transaction Tax (FTT) one of its highest priorities leading into the summit,” said Elise Buckle, WWF International G20 policy campaign leader. “And that this has achieved growing support from Germany, Spain, Brazil, South Africa, Ethiopia, Argentina and the African Union.”

“The official G20 communiqué statement on energy and climate change provides some encouraging steps in the right direction, however there is still much to be done. WWF will keep pressing G20 governments to redirect fossil fuel subsidies towards renewable energy and energy access for all, and to quickly set-up innovative finance mechanisms in the lead-up to the climate summit in Durban and Rio+20 in 2012.”

WWF-South Africa Global Climate and Energy policy leader Tasneem Essop said she was pleased that G20 leaders committed themselves to a successful outcome in Durban.

“This strong political signal should help build the momentum towards a successful outcome at COP 17 in Durban – that includes setting up the Green Climate Fund, as well as securing the large amount of funding that is needed to deal with the threat of climate change,” she said.

Looking forward to the next G20 summit, WWF-Mexico Climate Director Vanessa Perez-Cirera also urged countries to implement long-term transformational solutions.

“Mexico will hold the G20 Presidency next year and must ensure an integral, yet focused view to long-term low carbon and climate resilient development. A continued focus on fossil fuels subsidies reform and other innovative sources for climate finance and development could consolidate Calderon’s legacy to the climate regime and a safer energy future. We look forward to Mexico’s leadership on this regard,” she concluded.