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At the Annual Meetings of the World Bank and the IMF in Peru this week, moves to help combat inequality and climate change were announced, but G20 finance ministers failed to adequately address the skewed international tax system, said Oxfam today.

The Business and Climate Summit was an opportunity for companies to lead by example, and though several did show willing, it was not nearly enough to champion the urgent action needed to help combat climate change.

The European Commission risks betraying the Paris climate agreement by suggesting that Europe is doing enough to tackle runaway climate change, says Oxfam.

Oxfam Executive Director Helen Szoke said: “Climate funding, urgent emissions reductions and loss and damage must not be the casualties in the eleventh hour. More adaptation funding and stronger action to curb emissions are crucial for the world’s poorest and most vulnerable communities, while people need further support where adaptation is no longer an option.”What happened to the outcome expected today?The text that the COP Presidency presented last night was ultimately a proposal on what they thought could be a platform for agreement. However, when the…

Oxfam leaders, experts, and partners will be in New York for the UN General Assembly with a focus on the SDGs, inequality, climate, access to healthcare, humanitarian issues, and more. Oxfam is a global organization that fights inequality to end poverty and injustice and will bring this focus on inequality (Goal 10) and how it intersects with the entire 2030 agenda.

In response to the G20 communique, Oxfam says: ‘The G20 has failed to meet the huge challenges our world faces. They continue to stumble away from taking the bold actions necessary to tackle poverty, inequality, and climate change after an uninspiring and underwhelming Summit in India this weekend.” 

Climate change alert: Oxfam report reveals spiralling costs of 3 degree compared to 2 degrees warming.

"Leaders took to the world stage with words of inspiration but delegates have got little more to bring the world closer to a strong climate deal, said Oxfam’s climate change lead, Kelly Dent, in response to leaders’ speeches for action on the opening day of the Paris climate talks.

“There is still a long way to go: this is crunch time. The chance to set new funding targets from when the Paris deal comes into force in 2020 is still very much on the table and needs to stay there if developing countries are to have any hope of more support in the years ahead."

EU finance ministers still cannot agree on decisive elements of a European Financial Transaction Tax - a missed chance for a strong signal to the climate summit in Paris.