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Global greenhouse gas (GHG) emissions are set to rise by 10.6% by 2030 instead of falling by the 45% needed to limit the increase in global temperature to 1.5 °C. The G20 countries are the worst and most-responsible offenders, says Oxfam.

Global food prices will more than double within 20 years, as a new age of crisis forces the collapse of our global food system.

Today, the European Parliament voted in favour of an European Financial Transaction Tax (FTT), with 487 votes in favour out of 685.

The international development agency said global food prices will more than double within 20 years as a new age of crisis forces the collapse of our broken global food system, said Oxfam today.

Commenting on the failure of EU Energy Ministers to reach agreement on EU biofuel policy today, Marc Olivier Herman, Oxfam’s biofuels expert said:

A European tax on financial transactions would be fair, practical and popular and could raise as much as €210 billion to tackle poverty and climate change, according to Oxfam's new report.

European energy ministers meeting in Brussels today agreed European drivers should be obliged to burn massive quantities of food crops in their fuel tanks until 2030. Anti-poverty organisation Oxfam and green group Transport & Environment (T&E) deplored this policy that would only benefit the biofuels industry and contribute to hunger and environmental damage.

Oxfam is calling for the EU and its member states to fundamentally change their approach to managing migration.

Elise Ford, Head of Oxfam’s EU office, said:

European leaders meeting today to discuss ways of boosting economic growth should press ahead with plans for a financial transaction tax (FTT), Oxfam said.