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“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.”

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.

The 150 countries that have now publicly committed to carbon reduction pledges show that December’s UN climate summit in Paris could, at last, be built on international cooperation rather than competition. 

 Oxfam analysis of how climate change funds are allocated and accounted for shows very concerning trends for the world’s poorest countries and communities.

UN climate talks are off the life-support machine, following a last-minute agreement that gives the Kyoto Protocol a lifeline. It establishes a global Climate Fund and, while falling short of the emissions cuts needed, lays out a path to move towards them.

Poor countries will today leave the UN climate change negotiations in Doha with little more than they arrived with, because developed countries failed to take any meaningful collective action to prevent and address the most harmful impacts of climate change.

All countries must use the COP20 Summit in Lima to resolve the impasse over “climate finance,” and make success possible at the critical Paris talks in December 2015, says international agency Oxfam.

In reaction to the UNFCCC NDC Synthesis report launched today, Oxfam's Global Climate Policy Lead, Nafkote Dabi, said: “Today’s report findings are appalling. The combined climate plans submitted account to a dismal 1% emissions reduction, far below the 45% reduction needed to limit global warming below 1.5 degrees, and avoid disastrous impacts on vulnerable communities."  

Responding to German Chancellor Angela Merkel’s climate finance remarks made in Berlin today, Oxfam’s Climate Change Policy Advisor Jan Kowalzig said:“It’s refreshing to see Chancellor Merkel understanding how climate finance is key to securing success at the Paris COP in December. More rich countries must now follow her call to table a credible plan that ramps up climate support for developing nations, boosting the current US$35bn a year to an annual US$100bn by 2020.""But let’s be clear here - meeting the US$100bn target by 2020 would just be fulfilling a five year old…

Oxfam said it is vital that governments return to the negotiating table before the new agreement takes effect from 2020 to strengthen pledges of emissions cuts and agree to new finance levels.