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The G20 missed a golden opportunity to tackle global poverty when it could only agree to disagree over how to make banks repay the cost of the economic crisis, said international agency Oxfam.

As the latest draft COP26 text is published, Tracy Carty, head of Oxfam’s COP26 delegation said: “Here in Glasgow, the world’s poorest countries are in danger of being lost from view, but the next few hours can and must change the course we are on. What’s on the table is still not good enough."

New Oxfam analysis reveals huge carbon inequality in Europe. To achieve the deeper emissions cuts needed by 2030, European leaders must put fairness and a just transition at the heart of the Green Deal that tackles both inequality and emissions and can help build fairer, healthier and more resilient societies in the wake of the COVID-19 crisis.

Responding to the latest draft of the COP26 decision text released earlier today, Tracy Carty, head of Oxfam's COP26 delegation said: "This draft text is still missing some vital elements."

The new Asian Infrastructure Investment Bank (AIIB) will be a major new funder of infrastructure in developing Asia. This report sets out a vision for an AIIB partnership with the region’s most climate-vulnerable countries that could forge a new path of economic development.

Last year poor people around the world endured the consequences of the food and energy price crisis.

The devastating impacts of the 2015–16 El Niño will be felt well into 2017. There is an urgent need for humanitarian action where the situation is already dire, to prepare for La Niña later this year, to commit to new measures to build communities’ resilience, and to mobilize global action to address climate change

Oxfam spokesperson Luc Lampriere said:

The European Parliament today adopted a report advocating the EU press ahead with the introduction of a Financial Transaction Tax (FTT) on a unilateral basis to raise money for public goods.

Our unequal global food system is unsustainable for people and planet. We urgently need to rethink how the world feeds its people.