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In reaction to the G20 communique, Oxfam International Head of Inequality Policy and Advocacy, Max Lawson said: “This is the first ever meeting of world leaders, in history, where the inequality emergency was put at the centre of the agenda. This is testament to South Africa’s leadership – one that put the billions before the billionaires.”

The top-paid CEOs across four countries enjoyed a 9 percent pay hike in 2022, while workers’ wages fell 3.19 percent during the same period, reveals new analysis from Oxfam ahead of International Workers’ Day (1 May). 

For every new billionaire created during the pandemic — one every 30 hours — nearly a million people could be pushed into extreme poverty in 2022 at nearly the same rate, reveals a new Oxfam brief today. “Profiting from Pain” is published as the World Economic Forum — the exclusive get-together of the global elite in Davos — takes place for the first time face-to-face since COVID-19, a period during which billionaires have enjoyed a huge boost to their fortunes. 

"The establishment of a loss and damage fund is a monumental achievement for vulnerable developing countries and communities at the frontlines of the climate crisis. They have been calling for funding to cope with the devastating impacts of climate change for over 30 years.

Responding to the publication today of the IPCC’s Synthesis Report (SYR), Oxfam’s Climate Policy Lead Nafkote Dabi said: “This is, literally, the last chapter. The science shows that limiting global heating to 1.5°C is still possible —but only just. Unless we pull the emergency brake on deadly carbon pollution, ‘unheard-of’ heatwaves, storms, droughts and floods will continue to become more frequent and hit more places and people."  

Across Europe and the world, people are facing rising energy bills and inflation driven by the Ukraine war and the aftermath of the pandemic. Meanwhile, big business in every sector, not just energy, are raking in extremely high and excessive profits.

This year, Oxfam leaders, experts, and partners are joining the UN 79th General Assembly, Summit of the Future, and Climate Action week in New York, hosting and attending events focused on UN Security Council Reform, gender, digital rights, inequality, climate action, and humanitarian issues.

Commenting at the close of the EU council meeting where leaders agreed on a new EU 2030 climate target and discussed the EU’s response to the Covid-19 pandemic, Evelien van Roemburg, head of Oxfam’s EU advocacy office said: "The new, more ambitious, EU 2030 target still falls short of what is needed and what is fair. The EU must take urgent practical steps to deliver above and beyond this target."

The G20’s promise to pursue inclusive and sustainable growth is welcome, but its response to the Ebola crisis is dangerously inadequate.

G20 world leaders have failed to take definitive action to tackle poverty, hunger, climate, debt and deprivation that is crippling millions of people around the world, says Oxfam.