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The World Bank and the IMF must seize their early chance in what could be a watershed year to end extreme global poverty by putting the battle against inequality, climate change and tax dodging at the very top of its Spring Meetings’ agenda this week. 

Oxfam welcomes today’s adoption of the Global Compact for Migration (GCM) as an historic moment. Governments have finally recognized in a formal way that migrants too have fundamental human rights that countries must observe in all their policies and practices. This is a significant achievement.

Climate change is making extreme weather much more likely. As the 2012 drought in the USA shows, extreme weather means extreme food prices.

Oxfam water engineers are having to drill deeper, more expensive and harder-to-maintain water boreholes used by some of the poorest communities around the world, more often now only to find dry, depleted or polluted reservoirs. 

Negotiators at the UN climate talks have narrowly avoided a collapse, agreeing to the bare minimum deal possible.

People around the world are trapped in a ‘toxic triangle’ made up of short-term financial investors, timid governments and fossil fuel companies, which threatens to push up  global temperatures, putting 400 million people at risk of hunger and drought by 2060.  

In response to the United Nations Environment Program’s Adaptation Gap Report 2023, Nafkote Dabi, Oxfam International’s Climate Change Policy Lead, said: “The report underlines how the gap in adaptation funding —at its ‘highest ever’ amid accelerating climate breakdown— must be addressed with the utmost urgency next month in Dubai."

The EU position on climate finance for the Paris climate summit was adopted today by the EU Finance Ministers. Unfortunately, it falls short of what is needed to deliver a strong deal in Paris that empowers the world’s poor to cope with the current and future impacts of climate change and to develop in a less polluting way so that their carbon emissions don’t add to the climate change problem.According to Climate Action Network (CAN) Europe, Oxfam and WWF, the EU’s weak climate finance offer risks undermining its alliance with vulnerable countries in the Paris climate negotiations…

Climate change is a brutal reality confronting the world’s most vulnerable people. Their need for financial support to adapt to climate extremes is urgent and rising.

About innovative financing for development and climate change EU Finance Ministers today agreed their common position for the upcoming G20 Finance Ministers meeting on 14-15 October in Pa