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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.

Oxfam commended the World Bank for connecting the need to tackle climate change with the urgent fight to end poverty. In a new report, the Bank warned that more than 100 million additional people could be pushed into poverty by crop failures, floods, hunger, and other shocks caused by climate change. 

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.

In “Powering the Transition,” Oxfam details how together, the World Bank, the Asian Development Bank, and the Asian Infrastructure Investment Bank are investing almost $5 billion in fossil fuels in the 10 Asian countries that belong to the Climate Vulnerable Forum.

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…

Ministers must deliver on their climate finance promises and support a second wave of attack on corporate tax cheats if their Lima meeting is to succeed, said Oxfam today. 

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.

“Oxfam welcomes any fall in the number of hungry people. This is proof that we can make great strides in eradicating global hunger. But in a world of plenty, 805 million hungry people is still 805 million too many,” said Oxfam spokesperson Luca Chinotti. “Global hunger is still unacceptably high.”“The fight to end global hunger is going in the right direction but is still too slow. These 2012-14 figures show a mixed picture at best. Some regions and countries seem to be winning but others are stagnant or falling behind, compared to the levels of four years ago. More…