By 2030, the richest 1% are on course for an even greater share of total global emissions than when the Paris Agreement was signed. Tackling extreme inequality and targeting the excessive emissions linked to the consumption and investments of the world’s richest people is vital to keeping the 1.5⁰C Paris goal alive.
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.
This briefing examines reported international public climate finance flows, taking into account the funding commitments of developed countries. Oxfam’s analysis finds that the most vulnerable people and communities are being neglected by funds that should be helping them.
There is overwhelming evidence of the harm caused by the European Union’s current bioenergy policy to people in developing countries, to the climate and to Europe’s own sustainable development. This briefing follows the trail of destruction left by the policy on three continents.