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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. 

Today at the UN climate change talks in Durban the European Union as a bloc has reported that it has spent €2.34 billion during 2011 as ‘fast start finance’.  This is part of the EU’s €7.2 bil

“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."

Oxfam welcomes the fast-track ratification of the Paris climate agreement by the EU. Now, EU governments have to show their practical commitment to protect people and the planet from global warming.

This year’s G20 Summit will raise the stakes for the group to prove itself against growing doubts about its effectiveness – not least for people living in poverty, says Oxfam.

In a puzzling move, inequality was not on the agenda at the International Monetary Fund’s Press Briefing in the Peruvian capital today, while World Bank President Jim Kim said TPP could boost growth.

Oxfam spokesperson Caroline Pearce said: On economic growth:

The World Bank has released new draft safeguard policies that will vastly weaken protections for affected communities and the environment at the same time as the bank intends to finance more high-risk projects, say 19 organizations.