G-20: French Fin Min: Not Sure Communique To Mention Climate

But the issue is still encountering stiff resistance from some emerging countries, which argue the G-20 isn't the appropriate forum to address this topic, and would rather tackle climate change at the United Nations, the French finance ministry official said.

"The question is whether [G-20 countries] will talk about climate change," he said. He added that any mention of climate change in the final statement is likely to be very watered down at best.

French Finance Minister Christine Lagarde is planning to ask her U.S counterpart, Treasury Secretary Timothy Geithner for some clarity on the implementation of bonus rules in the banking industry agreed upon in Pittsburgh, the French official also said.

"The question will be asked very directly" when Lagarde and Geithner meet Saturday during the G-20 summit, he said. He added there was some concern on the part of the French over the way the U.S intends to apply the bonus rules. France is worried the U.S. might stick to general guidelines on banking pay rather than enforce strict limitation rules decided at Pittsburgh.

France is also seeking some reassurance from the U.S. that such rules will apply to bonuses for 2009 to be paid out early next year, in order to create a level playing field. France Thursday enacted a new set of regulations framing bankers' compensation that will be applicable to bonuses to be paid out at the beginning of 2010.

-By Nathalie Boschat, Dow Jones Newswires; +33-1-4017-1745 nathalie.boschat@ dowjones.com

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  11-06-092051ET
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