The Global Youth Action says the Financial Transaction Tax is needed #COP17

Minister of Science and Technology Naledi Pandor at the Global Youth Action

Lusanda Bill
02 December 2011

The youth at COP17/CMP7 have again made their voices heard with the hosting of an event called “Shooting on Target for Innovative Climate Funding”.

The Global Youth Action hosted the event whereby young people demonstrated their support of the Financial Transaction Tax, also known as the Robin Hood Tax.

In Copenhagen in 2009 an agreement was signed by developed countries that they will mobilize $100 billion by the year 2020 to support communities in developing countries adapt to and mitigate climate change.

The Global Youth Action believes that with the financial transaction tax could raise significant sums for the Green Climate Fund.

There are three demands that the Global Youth Action demand from COP17/CMP in Durban. The first one is the implementation of the Financial Transaction Tax (FTT) to help with the Green Climate Fund, secondly grow the global coalition of the willing countries in support of FTT, and lastly ensure the 1% act on helping poor countries adapt to the crisis of climate change. #COP17