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The EU is facing an energy wake-up call as a food and fuel crisis looms. Political instability from Russia and Ukraine is combining with climate vulnerability in the EU’s key exporters.

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. 

With its vote on the reform of the EU’s polluter-pays scheme today, the European Parliament’s Environment Committee has failed to introduce effective rules for the support of poor countries in adapting to climate change.

Claims today have surfaced that Europe will fall €200 million short of its previous pledge to raise €2.4bn to help poor countries cope with climate change in 2010, and by as much as €357 mi

The World Bank’s new assessment on the scale of finance needed to help developing countries adapt to the unavoidable impacts of climate change – $75-100bn per year on average from 2010-2050 – is a vital and timely contribution to the current climate negotiations under way in Bangkok.

The World Bank and the International Monetary Fund cannot allow political and economic shocks to hijack their ambitions to combat climate change and curb inequality, warned Oxfam.

Dirty industries are blocking the European Union from making more ambitious cuts to its greenhouse gas emissions while, at the same time, making millions in profits from existing environment policy, says a new report by international agency Oxfam.

Oxfam welcomes today's World Bank report 'Clima

Today the European Commission launched a new ‘Agenda for Change’ for EU development