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In a major new report, Oxfam calls for aid to be increased, better targeted, made more predictable and governed more accountably.

The World Bank’s new assessment on the scale of finance needed to help developing countries adapt to the unavoidable impacts of climate change – $75-100bn per year on average from 2010-2050 – is a vital and timely contribution to the current climate negotiations under way in Bangkok.

All countries must use the COP20 Summit in Lima to resolve the impasse over “climate finance,” and make success possible at the critical Paris talks in December 2015, says international agency Oxfam.

The economic fallout from the coronavirus pandemic could push half a billion more people into poverty unless urgent action is taken to bail out developing countries, said Oxfam today.

Given the tremendous financing needs, Oxfam supports a strong IDA20 replenishment. We are calling for a robust policy package that is appropriately ambitious for the next three years, aimed at propelling IDA countries forward towards a just economy after COVID-19 that is more equal and inclusive.

Millions of poor people in Southern Africa, Asia and Central America face hunger and poverty this year and next because of droughts and erratic rains as global temperatures reach new records, and because of the onset of a powerful El Niño.

This report is an independent review assessing the commitments that have been proposed ahead of COP21, this December in Paris. It shows that there is still a big gap between these proposals and what it will take to avoid catastrophic climate change and presents recommendations on how  this could be changed.

In response to today's announcement of Gabon's Intended Nationally Determined Contributions (INDCs), Tim Gore, Oxfam's international climate adviser, made the following statement:"Oxfam welcomes the INDC from Gabon. As the first African country to put their offer for the Paris climate talks on the table, Gabon is showing the way to rich countries - from Australia to Japan - that have yet to do so. This seems a comprehensive plan, rooted in Gabon's national strategy for sustainable development, that shows poor country governments don't have to choose between…

World Bank President Jim Yong Kim has yet again failed to profile his commitment to tackling climate change and inequality as central to his aim in eradicating poverty by 2030.

The Food and Agricultural Organisation's Food Price Index has today revealed that global food prices have remained at peak levels.