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At the Annual Meetings of the World Bank and the IMF in Peru this week, moves to help combat inequality and climate change were announced, but G20 finance ministers failed to adequately address the skewed international tax system, said Oxfam today.

Oxfam commended the World Bank for connecting the need to tackle climate change with the urgent fight to end poverty. In a new report, the Bank warned that more than 100 million additional people could be pushed into poverty by crop failures, floods, hunger, and other shocks caused by climate change. 

In “Powering the Transition,” Oxfam details how together, the World Bank, the Asian Development Bank, and the Asian Infrastructure Investment Bank are investing almost $5 billion in fossil fuels in the 10 Asian countries that belong to the Climate Vulnerable Forum.

Ministers must deliver on their climate finance promises and support a second wave of attack on corporate tax cheats if their Lima meeting is to succeed, said Oxfam today. 

“Oxfam welcomes any fall in the number of hungry people. This is proof that we can make great strides in eradicating global hunger. But in a world of plenty, 805 million hungry people is still 805 million too many,” said Oxfam spokesperson Luca Chinotti. “Global hunger is still unacceptably high.”“The fight to end global hunger is going in the right direction but is still too slow. These 2012-14 figures show a mixed picture at best. Some regions and countries seem to be winning but others are stagnant or falling behind, compared to the levels of four years ago. More…

Time is running out for ministers meeting in Paris to boost adaptation funding levels by 2020 and agree to set new improved finance targets for both adaptation and emissions reductions from when the Paris deal comes into force in 2020, Oxfam said today.

New United Nations numbers show hunger affecting 11 percent of the world’s population.

This year’s G20 Summit will raise the stakes for the group to prove itself against growing doubts about its effectiveness – not least for people living in poverty, says Oxfam.

“Oxfam is dismayed at this third consecutive year of rising hunger. We’re back to where we were a decade ago. As ever, hunger is caused by human actions that drive poverty and inequality, conflict and war, poor governance, wastage, and worsening climate change," said Oxfam International’s executive director Winnie Byanyima in response..

South Africa is facing its smallest maize harvest since 2007 this year as record-high temperatures and drought continue to hit its agricultural sector. According the government’s Crop Estimates Committee, only 7.44 million tons of maize is likely to be harvested in 2016 - that’s 25 percent less than the 9.94 million tons reaped.