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Time is running out for ministers meeting in Paris to boost adaptation funding levels by 2020 and agree to set new improved finance targets for both adaptation and emissions reductions from when the Paris deal comes into force in 2020, Oxfam said today.

Ministers arriving in Katowice for the UN Climate Change Conference, COP24, will need extreme courage and conviction to make life-saving decisions if humanity is to be saved from the worst impacts of climate change, Oxfam and CARE International said today.

Climate finance efforts by developed countries are at a critical juncture. There are only two years before the deadline by which developed countries have committed to jointly mobilize $100bn per year to support climate action in developing countries. This briefing paper offers an assessment of progress towards this goal.

“This is very troubling news, but sadly it’s part of a dangerous trend. All over the world we’re seeing a new rush for land, often with deadly consequences for local rights defenders," said Rashmi Mistry, head of Oxfam's GROW campaign.

Today, the European Parliament’s Agriculture Committee voted to protect food producers inside and outside the EU in key legislation to ban unfair trading practices in the EU’s food supply chain.

Bold attempts to prevent climate change forcing millions more people into poverty have been undermined by wealthier nations at the 24th UN Climate Change Conference, Oxfam said today.At the talks, which stalled for days in Poland, leaders from nations on the frontlines of the climate crisis and young climate activists made strong demands for all states to immediately strengthen commitments to the Paris Agreement. But a woeful lack of courage by rich nations with the highest carbon emissions meant the outcome failed to match the urgency of these demands.Simon Bradshaw, Climate…

Despite being largely responsible for the worsening climate crisis in East Africa, rich nations paid Ethiopia, Kenya, Somalia, and South Sudan just $2.4 billion in climate-related development finance in 2021, in stark contrast to the $53.3 billion East Africa says it needs annually to meet its 2030 climate goals.  

Oxfam spokesperson Luc Lamprière said: Financial transaction tax:

Today’s EU Finance Ministers meeting inBrussels reached a deal to resolve disagreement on regulators’ powers over clearinghouses that will handle over-the-counter (OTC) derivatives.

Today the European Parliament gave the green light to the European Markets Infrastructure Regulation (EMIR) designed to regulate shady ‘over the counter’ (OTC) derivatives. NGOs welcomed the introduction of clearing and reporting obligations for these financial products as a crucial step towards regulating vital agricultural commodity derivatives markets.