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Claims today have surfaced that Europe will fall €200 million short of its previous pledge to raise €2.4bn to help poor countries cope with climate change in 2010, and by as much as €357 mi

In response to the United Nations Environment Program’s Adaptation Gap Report 2023, Nafkote Dabi, Oxfam International’s Climate Change Policy Lead, said: “The report underlines how the gap in adaptation funding —at its ‘highest ever’ amid accelerating climate breakdown— must be addressed with the utmost urgency next month in Dubai."

Up to $41 billion in World Bank climate finance —nearly 40 percent of all climate funds disbursed by the Bank over the past seven years— is not being properly tracked due to poor record-keeping practices, reveals a new Oxfam report published today ahead of the World Bank and IMF Annual Meetings in Washington D.C. 

As global greenhouse emissions continue to rise, and climate change wreaks more havoc upon the people and places least responsible for the problem, rich polluting countries are now three years overdue on their promise to mobilize $100 billion a year in climate finance for low- and middle-income countries.

Climate activists today added a dramatic twist to the COP29 summit with a live game show called Make Polluters Pay. As the United Nations climate finance negotiations entered their final days in Baku, activists took center stage at the summit conference venue. Dressed as fossil fuel executives, they theatrically shoveled fake "money" into a symbolic Loss and Damage Fund, highlighting the urgent need for rich countries to pay up on climate finance.

Today's report from the Organisation for Economic Co-operation and Development (OECD) on climate finance confirms that far too much of the climate finance from governments and development banks is in the form of loans that force poorer nations to fall further into debt, says Oxfam.        

Fifty of the world’s richest billionaires on average produce more carbon through their investments, private jets and yachts.

After another year of extreme weather, developing countries face a looming climate ‘fiscal cliff’ at the end of 2012. Yet new Oxfam research finds most climate finance pledges so far have been recycled funds or loans.

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.

Rich countries have again effectively short-changed low- and middle-income countries as part of international climate change negotiations by as much as $88 billion in 2022, the latest year of newly reported figures, says Oxfam.