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Mexico champions climate change talks at G20 summit: finance minister
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15:17, September 26, 2009

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Mexico helped put climate change at the top of the Group of 20 (G20) summit's agenda, the country's finance minister Agustin Carstens said Friday.

"President Felipe Calderon has played a very important role in relation to climate change, by proposing the Green Fund which would recognize everyone's shared responsibility," Carstens was quoted as saying in a statement from the Mexican financial ministry.

Calderon proposed the creation of the 10-billion-U.S. dollar Green Fund administered by the World Bank in June, saying that all nations should pay into the fund and receive money from it based on the amount of greenhouse gas emissions they cut.

Mexico also promoted the recapitalization of development banks, especially the Inter-American Development Bank (IADB), Carstens said.

"The IADB is important because it is this continent's largest lender," Carstens explained, adding that the G20 countries had agreed to draft an IADB recapitalization plan by mid-2010 at the latest.

The G20 summit was held in the U.S. city of Pittsburgh on Thursday and Friday.

The summit was the third of its kind. It was preceded by two meetings held in the wake of the global financial crisis, one in Washington last November and one in London last April.


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