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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.

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. 

Leaders must heed climate strikes and give vulnerable people the tools to survive.

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.

This briefing describes new research that shows how extreme carbon inequality in recent decades has brought the world to the climate brink. It sets out how governments must use this historic juncture to build fairer economies within the limits our planet can bear. 

New Oxfam analysis reveals huge carbon inequality in Europe. To achieve the deeper emissions cuts needed by 2030, European leaders must put fairness and a just transition at the heart of the Green Deal that tackles both inequality and emissions and can help build fairer, healthier and more resilient societies in the wake of the COVID-19 crisis.

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.

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. 

The World Bank continues to steadily increase support for privatized education in lower-income countries despite mounting evidence that this approach is freezing out poorer children ―especially girls― and doesn’t mprove education quality. Oxfam’s new report "False Promises" says the Bank should immediately stop promoting Public Private Partnerships (PPPs) that expand private education.

The COVID-19 pandemic has worsened the extreme inequality in Southern African Development Community countries, and pushed millions into poverty. Recovering from the pandemic, however, offers SADC governments a once-in-a-generation opportunity to do reduce inequality drastically and eliminate extreme poverty by 2030.