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G-Bits: April 19th

G-Bits: April 19th

1. No tax for Canadian banks: In the Canadian government’s clearest indication yet that it will oppose any and all bank tax proposals at the G20, it has written a letter to its counterparts stating that the the G20 nations should avoid imposing a new tax on financial institutions in its bid to cover the cost of any future financial slumps. Canada has stated that it is ready to stand alone among Group of 20 countries in rejecting a tax on banks.

2. The U.S. Climate Action Network and Environmental Defence in Canada are urging the Toronto G20 Agenda to include Climate Action including:
- following through on their commitment to keep global average temperature rise from pre-industrial levels to well below 2 degrees C.
- Curbing expansion of high-carbon intensity industries such as tar sands
oil development.
- Supporting innovative financing mechanisms to generate substantial new and additional public financial support for developing countries, as
pledged in the Copenhagen Accord.
- Taking immediate action to phase out fossil fuel subsidies.

3. 2010 G20 business leadership conference slated for Toronto
In conjunction with the upcoming G20 Summit in Canada, an innovative conference is being held themed, “G20 Business Leaders: Partnering with Africa’s Dynamic Markets,” and takes place at the Marriott Downtown Eaton Centre, in Toronto, Ontario, from June 23-24, 2010.

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