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In response to the Inter-American Court of Human Rights decision setting out governments’ obligations in regard to the climate crisis.

Today Oxfam praised the CEO’s of eight of the ten biggest food and beverage companies in the world for joining together with the heads of some 400 major companies to call on world leaders, “to act with determination, leadership and ambition to secure an ambitious and legally binding global climate deal.”

Up to $41 billion in World Bank climate finance —nearly 40 percent of all climate funds disbursed by the Bank over the past seven years— is not being properly tracked due to poor record-keeping practices, reveals a new Oxfam report published today ahead of the World Bank and IMF Annual Meetings in Washington D.C. 

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 people marched with a clear and urgent message, but world leaders still refuse to listen.

Many governments and companies are adopting net zero climate targets as they recognize the urgency of the climate crisis. Without clear definition, however, these targets risk being reliant on using vast swathes of land in low-income countries to capture carbon emissions, allowing the biggest emitters to avoid making significant cuts in their own emissions.

Halfway through the Cancun climate talks, negotiators have an opportunity to make real progress on a fair global climate fund and climate finance, said Mary Robinson, former President of Ireland and Honorary President of Oxfam.

Nearly 90% of Somalia is now in a severe drought, following three consecutive failed rain seasons. Some areas facing their driest season in 40 years. Nearly 3.5 million people are already acutely food insecure and millions more are now at risk of going hungry by the beginning of next year.

Oxfam analyzes the commitments being brought by government and corporate sector leaders to the Climate Summit and reveals that they fall short of what is urgently needed.

In a key committee vote on the reform of the EU bioenergy policy, the European Parliament has improved the reform proposal, but Oxfam says it does not do enough to end the EU's bioenergy policy's destructive effects on the climate and on people worldwide.