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Climate change is already forcing people from their land and homes, and putting many more at risk of displacement in the future. This paper describes the effects on communities and how responding to these growing realities demands far stronger action towards ending global climate pollution.

People around the world have been adapting to change since time immemorial, but there is a cost attached to it. While people living in poverty deploy the resources, traditional knowledge and skills that they have, much more is needed. Adaptation finance is needed to support vulnerable countries and poor communities to adapt to the climate crisis.

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.

G20 countries spend far more subsidizing the coal and oil industry than developed countries provide in adaptation finance to poor and vulnerable countries.

Governments must build back better low carbon economies post the pandemic to avoid fuelling the climate crisis, warned Oxfam today ahead of the Petersberg Climate Dialogue on 6-7 May. The virtual meeting will bring together government ministers from across the globe to discuss international climate action ahead of this year’s critical UN summit COP26 in autumn.

Climate finance efforts by developed countries are at a critical juncture. There are only two years before the deadline by which developed countries have committed to jointly mobilize $100bn per year to support climate action in developing countries. This briefing paper offers an assessment of progress towards this goal.

Today, the European Commission published its proposal for the next EU Multiannual Financial Framework (MFF). The MFF will determine the architecture and the financial amounts of the EU’s budget for the next seven years (2021-2027).Oxfam’s Policy Advisor, Hanna Saarinen, said:“The proposal shows that the EU is abandoning its ambition to be the global leader in international development. The EU is more concerned with pushing its own agenda than delivering on its commitments to the sustainable development goals. Despite increasing the amount of funds allocated…

Climate-fuelled disasters were the number one driver of internal displacement over the last decade – forcing an estimated 20 million people a year from their homes. While no one is immune, it is overwhelmingly poor countries that are most at risk.

“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.”

Responding to the final communiqué of the COP25 climate talks in Madrid, Chema Vera, Interim Executive Director of Oxfam International, said: “The world is screaming out for climate action but this summit has responded with a whisper. The poorest nations are in a sprint for survival yet many governments have barely moved from the starting blocks."