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The World Bank is forecasting that, for the first time ever, the number of people living in extreme poverty will fall under 10% of the world's population, to around 702 million people.

Today’s World Wealth Report from Capgemini shows that times have never been better for the world’s wealthiest - since 2009 more than 4.5 million new millionaires have been created, rising to a total of 15.4 million millionaires across the world last year. Yet while the wealthy prosper, 702 million people living in extreme poverty are being left behind.

Eighty two percent of the wealth generated last year went to the richest one percent of the global population, while the 3.7 billion people who make up the poorest half of the world saw no increase in their wealth, according to a new Oxfam report released today.

Dangerous, poorly paid work for the many is supporting extreme wealth for the few. Women are in the worst work, and almost all the super-rich are men. Governments must create a more equal society by prioritizing ordinary workers and small-scale food producers instead of the rich and powerful.

Oxfam, together with civil society organizations, welcomes the World Bank’s International Finance Corporation (IFC) announcement that it will not resume its investments in K-12 private schools, following the release of an independent evaluation by the World Bank Independent Evaluation Group (IEG) on the IFC’s investments in this area.  

The COVID-19 pandemic has worsened the extreme inequality in Southern African Development Community countries, and pushed millions into poverty. Recovering from the pandemic, however, offers SADC governments a once-in-a-generation opportunity to do reduce inequality drastically and eliminate extreme poverty by 2030. 

New Oxfam analysis reveals huge carbon inequality in Europe. To achieve the deeper emissions cuts needed by 2030, European leaders must put fairness and a just transition at the heart of the Green Deal that tackles both inequality and emissions and can help build fairer, healthier and more resilient societies in the wake of the COVID-19 crisis.

Eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity, according to a new report published by Oxfam today to mark the annual meeting of political and business leaders in Davos.

This briefing describes new research that shows how extreme carbon inequality in recent decades has brought the world to the climate brink. It sets out how governments must use this historic juncture to build fairer economies within the limits our planet can bear. 

This report shows the unparalleled power of public education to tackle growing inequality and bring us closer together. To achieve this, education must be both of good quality and equitable; it should be free, universal and adequately funded.