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Climate change is the single greatest threat to development – making the battle to overcome poverty ever harder and more expensive.

As the latest United Nations climate change negotiations being held in Bonn, drew to a close today, Tim Gore, Oxfam's climate change policy advisor said;

A new report from the UN’s High-level Advisory Group on Climate Change Financing (AGF) makes it crystal clear that raising the public money to help poor countries build resilience to climate change is possible without putting the squeeze on taxpayers.

There is likely to be a climate deal in Paris. The emission pledges that more than 150 governments have put on the table this year show that global climate ambition is increasing. In this briefing Oxfam looks at potential game-changers on finance and mitigation ambition that could avert these costs for the world’s poorest people.

Oxfam welcomed the launch of a new website by the Dutch Minister of the Environment today (faststartfinance.org) which aims to collect and present details about climate finance pledges from developed countries.

Over a decade ago, developed countries committed to mobilize $100bn per year by 2020 to support developing countries to adapt and reduce their emissions. The goal is a critical part of the Paris Agreement. As 2020 draws to a close, Oxfam’s Climate Finance Shadow Report 2020 offers an assessment of progress towards this goal.

EU environment ministers could break through the dominance of China and the US that prevented progress at the Tianjin climate talks by making key decisions on climate finance when they meet in Luxembourg today, says international agency Oxfam.

Observers at UN Climate talks in Lima have called for strong and clear rules relating to climate finance after a scandal shows Japan is claiming funds to a coal-power plant as being ‘green.'

The fact that the IMF is proposing that adaptation efforts are funded by grants rather than loans is positive. But this will only work if developed countries ensure the money is there to resource this vital assistance to vulnerable countries.

The UNFCCC report on climate finance says that between $340 and $650 billion in finance for climate action is flowing globally with $40-175 billion going to developing countries each year. This report on climate finance makes one thing abundantly clear: only a small proportion of climate finance is flowing from developed countries to developing countries.