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A-FAB, ASEAN for a Fair, Ambitious and Binding Climate Deal, a regional coalition composed of Greenpeace, Oxfam and WWF, calls upon leaders of Association of Southeast Asian Nations to take a higher ground in the latest rounds of UN climate negotiations that began in Bangkok today.

Today Oxfam praised the CEO’s of eight of the ten biggest food and beverage companies in the world for joining together with the heads of some 400 major companies to call on world leaders, “to act with determination, leadership and ambition to secure an ambitious and legally binding global climate deal.”

Wealthy nations are expected to fall up to $75 billion short of fulfilling their long-standing pledge to mobilize $100 billion each year from 2020 to 2025 to help the most vulnerable countries adapt to the dangerous effects of climate change and reduce their emissions, according to estimates by Oxfam today.

Multiple reports this morning indicate that the Obama administration plans to announce a $3 billion pledge to the Green Climate Fund at the G20 in Australia this weekend. These reports are consistent with the information Oxfam has received over the last few days.Leaders of the Green Climate Fund have been aiming for a $10-15 billion initial “capitalization” before the Lima talks begin in December. If the fund reaches $10 billion, a $3 billion…

Oxfam analyzes the commitments being brought by government and corporate sector leaders to the Climate Summit and reveals that they fall short of what is urgently needed.

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.

Oxfam leaders, experts, and partners will be in New York for the UN General Assembly with a focus on the SDGs, inequality, climate, access to healthcare, humanitarian issues, and more. Oxfam is a global organization that fights inequality to end poverty and injustice and will bring this focus on inequality (Goal 10) and how it intersects with the entire 2030 agenda.

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.