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The needs of people living in poverty and suffering from the effects of climate change were mostly put aside at the “One Planet” climate change summit in Paris.

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. 

Tuesday’s climate summit in Paris must boost the financial support going to help poor communities adapt to climate change. The Paris Agreement promised rich governments would mobilize $100 billion per year by 2020, with a "balance" between funding for emission cuts and climate adaptation needs. However, the adaptation pledges have fallen short.

Observers at UN Climate talks in Lima have called for strong and clear rules relating to climate finance after a scandal shows Japan is claiming funds to a coal-power plant as being ‘green.'

“The G20 reiterated previous commitments to reduce inequality, boost the participation of women in work and phase out inefficient fossil fuel subsidies. The G20 said they would draw up a proper response to the refugee and migrant challenge next year, which is too late. The world needs urgent action now, not more words.”

The joint US-China statement on new domestic policy commitments and a vision for a global climate change deal underscores the importance the world’s two largest emitters place on solving the climate crisis, says Oxfam, but collective action is needed.

Oxfam welcomed reports of increased climate finance pledges made by finance ministers in Lima today, but warned that only a fraction is meant to help countries most vulnerable adapt to the devastating effects of climate change.

Joint Media Reaction by Oxfam, CAN Europe, APRODEV, CIDSE

Oxfam said it is vital that governments return to the negotiating table before the new agreement takes effect from 2020 to strengthen pledges of emissions cuts and agree to new finance levels.