The “climatic justice” plan, sketched out by French ecology minister Jean-Louis Borloo in the Journal du Dimanche newspaper, would slap a tax on the trade of currency across borders, thereby penalising short-term currency speculation.
French officials say it could generate €20bn ($29.3bn) a year, which would put a sizeable dent in the estimated €100bn a year poor nations will need by 2020 in order to combat climate change.
The
