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If Europe were to rule out its support of biofuels by 2020, the region could lower its net imports of grain and oilseeds by up to 27 million tons, remarkably reducing its dependence on foreign goods. Global food prices could also drop significantly.

In reaction to the European Parliament's plenary vote on the Financial Transaction Tax, Nicolas Mombrial, Oxfam’s EU Policy Adviser said:

This paper focuses on concerns related to the EU’s growing bioenergy use, which is being driven by EU climate and energy policies. It focuses on the practicalities of implementing sustainability safeguards in all energy uses of biomass, including electricity, heating and transport.

Europeans may still be forced to buy biofuels made from food crops until 2030, as a result of the deal struck by EU member states and the European Parliament this morning on the Renewable Energy Directive (RED II), Oxfam said.

European Commission President Jose Manuel Barroso said today at the G20 that he expects agreement on a Financial Transaction Tax (FTT) to be reached soon.

Responding to President José Ma

Millions of poor people will go without life-saving food and medicines as donor aid pledges to poor countries are breached.

Oxfam welcomed today’s vote by European Parliamentarians in support of a strong European Financial Transaction Tax (FTT) covering all instruments (shares, bonds and derivatives), as put forward by

Aid from rich nations is likely to fall by at least $9.5 billion by the end of 2012 – the biggest drop in aid for 15 years, according to new calculations by international agency Oxfam ahead of this week’s G20 Summit (Nov 3-4).

European Commission President José Manuel Barroso promised today he would announce an extra €1 billion for the Millennium Development Goals (MDGs) at a major UN summit in New York later this month.