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After another year of extreme weather, developing countries face a looming climate ‘fiscal cliff’ at the end of 2012. Yet new Oxfam research finds most climate finance pledges so far have been recycled funds or loans.

South Africa has today tabled its climate action plan for Paris, committing to put a lid on rising emissions through to 2030. How low they are able to plateau will depend on international support meaning so climate finance will be key to unlock greater ambition, says Oxfam.

At the ECOFIN meeting today, EU Finance Ministers have failed to provide a clear answer to what Europe will do to ensure climate finance does not fall off a cliff once Fast Start F

Twelve major companies and sixteen high level retired Generals and Admirals call on President Obama and Secretary of State Clinton to lead the effort to establish an equitable, effective and accountable global climate fund at the UN climate negotiations in Cancun.

As the UN General Assembly kicks off again this year, Oxfam’s experts and partners are available to speak to their work focused on the People’s Vaccine for COVID-19, the climate crisis - including climate finance, and a number of pressing humanitarian crises. 

Today, more than 120 world leaders, corporate leaders and representatives from civil society met in New York for the UN Climate Summit. Created as a platform for international and national commitments to tackle climate change, the collection of announcements offered a limited approach to addressing the urgent threat of climate change.In response to this summit Tim Gore, head of climate policy for the aid agency Oxfam, said:“Just days after more than half a million people around the world…

Wealthy nations are expected to fall up to $75 billion short of fulfilling their long-standing pledge to mobilize $100 billion each year from 2020 to 2025 to help the most vulnerable countries adapt to the dangerous effects of climate change and reduce their emissions, according to estimates by Oxfam today.

The economies of the G7 nations could see an average loss of 8.5 percent annually by 2050 ―equivalent to $4.8 trillion― if leaders do not take more ambitious action to tackle climate change, according to Oxfam’s analysis of research by the Swiss Re Institute. Oxfam is calling on G7 leaders, who are meeting in the UK later this week, to cut carbon emissions more quickly and steeply.

Today's report from the Organisation for Economic Co-operation and Development (OECD) on climate finance confirms that far too much of the climate finance from governments and development banks is in the form of loans that force poorer nations to fall further into debt, says Oxfam.        

The World Bank's $200bn climate investment announcement at the UN Climate Conference COP24 is welcome, but must be new money that can help tackle poverty.