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Oxfam has today warned that the $100billion a year pledged by rich nations to help fight climate change could fail the poorest people, if recent moves to deliver climate cash as loans continue.

Norway's announcement of $230 million USD welcomed, but still a long way to go to reach the Fund's unofficial goal of $10 billion.

Governments must move quickly at this year’s first UN climate change meeting to plug the gaping deficit of funds to help developing countries adapt to climate change and lower their emissions.

This paper suggests a new approach that recognizes the failings of the current climate finance regime and is better informed by needs and opportunities at the national level.

Oxfam welcomes the new European Commission proposals for advancing climate talks. However, while the EC has highlighted emissions reduction loopholes in the Copenhagen Accord, it has ignored major loopholes on climate finance.

Rich countries’ obsession with private finance means millions of poor and vulnerable people could be left to face increasingly extreme and erratic climate alone warned Oxfam today as minist

The European Commission today published – as part of its “summer package” – a legislative proposal to reform the EU Emissions Trading Scheme (ETS). The Commission has failed to use this key opportunity to help address a key stumbling block in the climate negotiations: the provision of predictable and additional climate finance.  

“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.