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Over a quarter of a billion more people could crash into extreme levels of poverty in 2022 because of COVID-19, rising global inequality and the shock of food price rises supercharged by the war in Ukraine, reveals a new Oxfam brief today. 

722 of the world’s biggest corporations together raked in over $1 trillion in windfall profits each year for the past two years amid soaring prices and interest rates, while billions of people are having to cut back or go hungry. 

The threat of “COVID famines” and widespread extreme hunger are setting off every alarm bell within the international community, but so far sluggish funding of the UN's appeal is hampering humanitarian agencies’ efforts to deliver urgent assistance to people in need.

As the G8 Summit comes to a close, international agency Oxfam criticized the leaders for their failure to deliver on their promises and for trying to divert attention by cobbling together a small initiative for maternal and child health.

One person is likely dying of hunger every 48 seconds in drought-ravaged Ethiopia, Kenya and Somalia, according to estimates by Oxfam and Save the Children in a report published today highlighting the world’s repeated failure to stave off preventable disasters. 

Oxfam will support the Voice2Paris global storytelling contest launched in August by the United National Development Programme (UNDP) by providing three additional fellowships for participating journalists to cover the UN Conference on Climate Change, COP21, in Paris in December.

New Oxfam-commissioned research, carried out by Climate Analytics, uses modelling to assess the impact of aggregate Intended Nationally Determined Contributions (INDCs) ambition. The technical specifications and calibration of the models used are explained in this paper. 

Speaking at the end of the Rio+20 UN Summit on Sustainable Development, Barbara Stocking, Chief Executive, Oxfam GB said:

A landmark ruling today has found the French State at fault for failing to take enough action to tackle the climate crisis. The decision by the French court will serve as a warning to other governments to do more to reduce carbon emissions in line with their public commitments, said Oxfam France, a plaintiff in the case.  

Wealthy nations are expected to fall up to $75 billion short of fulfilling their long-standing pledge to mobilize $100 billion each year from 2020 to 2025 to help the most vulnerable countries adapt to the dangerous effects of climate change and reduce their emissions, according to estimates by Oxfam today.