The Chancellor of the Exchequer (Mr George Osborne)

The Council endorsed the EU terms of reference, which will form the basis of the EU’s contribution to the meeting of G20 Finance Ministers on 14-15 October. The Government are content with the terms of reference, which emphasise the need for determined action to maintain financial stability, restore confidence, and support growth. The G20 meeting is expected to cover the following issues: responding effectively to the current challenges in the global economy through the G20 framework for growth; financial regulation; commodities; reform of the international monetary system; and climate change financing and development.

Preparation of the UN Framework Convention on Climate Change (UNFCCC). Durban

Finance Ministers adopted conclusions on climate finance ahead of the Durban conference of the parties to be held 28 November to 9 December, 2011. The Government support these conclusions which reflect our position on climate finance.

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