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Nearly 90% of Somalia is now in a severe drought, following three consecutive failed rain seasons. Some areas facing their driest season in 40 years. Nearly 3.5 million people are already acutely food insecure and millions more are now at risk of going hungry by the beginning of next year.

The economies of the G7 nations could see an average loss of 8.5 percent annually by 2050 ―equivalent to $4.8 trillion― if leaders do not take more ambitious action to tackle climate change, according to Oxfam’s analysis of research by the Swiss Re Institute. Oxfam is calling on G7 leaders, who are meeting in the UK later this week, to cut carbon emissions more quickly and steeply.

Today's report from the Organisation for Economic Co-operation and Development (OECD) on climate finance confirms that far too much of the climate finance from governments and development banks is in the form of loans that force poorer nations to fall further into debt, says Oxfam.        

The World Bank's $200bn climate investment announcement at the UN Climate Conference COP24 is welcome, but must be new money that can help tackle poverty.

Details of the World Bank’s climate finance flows to developing countries are being poorly disclosed and may be hiding discrepancies and allowing for dubious claims, according to a new report by Oxfam.

EU environment ministers again acknowledged the importance of financial support for climate action in poor and vulnerable countries in the Paris climate agreement, but they must invest in the Green Climate Fund, says Oxfam.

Oxfam is concerned that local and legislative elections in Burundi have been held in a climate of tension and fear, evident in the city but also in some provinces outside. The elections have been marred by the absence of opposition parties and the independent media.

Rich nations today published a Climate Finance Delivery Plan claiming that it will take until 2023 to meet their commitment to mobilize $100 billion each year to support poorer nations to confront the climate crisis. In response, Jan Kowalzig, Senior Climate Policy Adviser at Oxfam said: “This plan claims that rich nations will meet their target three years late, but conveniently fails to mention the money that poorer countries are owed for every year they fell short."

In response to the decision by the European Court of Human Rights (ECHR) in the Grand Chamber’s first-ever climate-related cases (Verein KlimaSeniorinnen Schweiz and Others v. Switzerland, Duarte Agostinho and Others v. Portugal and Others, and Carême v. France), Evelien van Roemburg, Head of Oxfam’s European Union office said: “European judges have ruled that a government’s failure to do enough to reduce national greenhouse gas emissions violates its population’s human rights. This is a positive step and allows people to require their governments to put in place effective climate regulations and carbon budgets. But the judges did not challenge Switzerland’s decision to give itself almost three more decades to reach net zero emissions, even though people around the world are being harmed now by the climate crisis.”    

Leaders must heed climate strikes and give vulnerable people the tools to survive.