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G20 leaning towards extending debt-payment freeze – France finance ministry source

October 9, 2020

PARIS, Oct 9 (Reuters) – A consensus is emerging among G20 nations to extend a debt-payment freeze next week for poor countries for an additional six months, a French finance ministry source said on Friday.

Members of the Group of 20 economic powers and the Paris Club of creditor nations agreed in April to suspend until the end of the year debt payments owed to them by poor countries to free up resources for tackling the coronavirus outbreak.

G20 finance ministers are due to take a decision on what to do after the end of the year when they hold an online meeting next Wednesday, the source said.

“The number we think we will land on is six months, which seems reasonable as that will give time to evaluate the impact of the crisis on debt sustainability,” the source said.

After six months, the debt servicing freeze could be extended

Total Buys 20% Stake In Eolmed Floating Offshore Wind Farm Pilot Project In France

October 7, 2020

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(RTTNews) – Total SA (TTA.L, TTFNF.PK, TOT) announced Wednesday the acquisition of a 20 percent stake in the Eolmed floating Offshore wind farm pilot project in France. The financial terms of the deal were not disclosed.

The 30 megawatts project is located in the Mediterranean, off the coast of Gruissan and near Port-La-Nouvelle in Occitan region. Qair is the historical developer and majority shareholder of the project, which was attributed in July 2016 to accelerate the development of a floating wind technology.

Julien Pouget, Director Renewables of Total, stated, “Floating offshore wind is a very promising segment in which Total notably brings its extensive experience in offshore projects. Together with our partner Qair, we have the necessary resources to meet the technological and financial challenges that will determine our future success.”

Total’s latest investment is part of its ambition to get to net zero by 2050. The company is building

Air France Leads Tax Pushback in Climate Vs Recovery Fight | Investing News

September 28, 2020

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By Laurence Frost and Kate Abnett

PARIS/BRUSSELS (Reuters) – Air France-KLM is battling new green taxes on top of the coronavirus crisis – in a test of growing policy tensions between righting Europe’s crippled airlines and delivering on climate goals.

The Franco-Dutch group, sustained by 10.4 billion euros ($12.2 billion) in state-backed loans, faces higher duties in both home markets as well as EU plans to hike airlines’ carbon costs.

The struggle unfolding around Air France-KLM is part of a larger reckoning for carbon-intensive industries as efforts to tackle global warming spawn more taxes and regulation.

While campaigners say those are long overdue, crisis-hit airlines warn their timing and severity will cost thousands more jobs and hurt development of lower-carbon technologies.

New taxes “do not support emissions reductions”, said Air France-KLM Chief Executive Ben Smith in response to proposed increases to French passenger duties.

“In fact it’s counterproductive and would

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