poor countries

2023 could be a turning point. A year when the world emerges from unprecedented crises, and governments deliver progressive reforms that build a brighter future for all, and for the planet.

But despite the dire economic situation facing the poorest countries today, and much political discussion of the trillions needed to tackle poverty, inequality and climate change, there is no indication that rich countries are willing to pay the true price of a fair and sustainable future. 

"The establishment of a loss and damage fund is a monumental achievement for vulnerable developing countries and communities at the frontlines of the climate crisis. They have been calling for funding to cope with the devastating impacts of climate change for over 30 years.

“While this report provides helpful information on various actions to advance the climate finance agenda, it fails to boost confidence that developed countries will make significant and swift progress on meeting their commitment to provide $100 billion annually, over 2020-2025 to assist poor countries. The report would have been an ideal moment for developed countries to spell out how they will compensate for missing the $100 billion mark earlier through additional climate finance in subsequent years. Also, it lacks a robust roadmap as to how they’re going to double adaptation finance by 2025, something they agreed to at COP 26.”

"This report shows world leaders are still failing to address the climate crisis —our planet is currently on track for a catastrophic global temperature rise of 2.5°C. Scientists are clear: it’s now or never to limit global warming to 1.5°C. Climate change is causing suffering across the world, and it will continue to do so. People are already being pushed from their homes, and are facing hunger and drought, floods, and other climate-induced disasters.”

Many rich countries are using dishonest and misleading accounting to inflate their climate finance contributions to developing countries – in 2020 by as much as 225 percent, according to investigations by Oxfam.

The coronavirus pandemic has caused widespread suffering in rich countries, overwhelming some of the best healthcare systems in the world. But with the disease now spreading to many countries with high levels of poverty and inequality, its impact could be catastrophic and disproportionally affect women. Urgent action is needed now.

Jan Kowalzig, Oxfam’s climate policy advisor, responds to the release of new figures on the climate finance provided to developing countries by rich countries in the Organisation for Economic Cooperation and Development (OECD).

In reaction to the new trade facilitation agreement approved in Bali on Saturday, Romain Benicchio, Senior Policy Advisor with Oxfam, said:

Thirty-two months remain to the deadline for reaching the Millennium Development Goals. This report is the first ever to track what developing countries are spending on the MDGs.

Poor countries are cutting back investment in farming, health service and services to help women because of fears about rising debts and the impact of the economic crisis, according to a new database launched today.