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Welcoming the publication of the World Bank report, Turn Down the Heat: Climate Extremes, Regional Impa

How to ensure the trillions of dollars of incremental investment needed in the energy and climate-related sectors to promote low-carbon development is both socially responsible and addresses both mitigation of greenhouse gas emissions and resilience to climate change impacts?

Negotiators have given themselves the tools to build a stronger deal in Paris, but governments must now put them to good use. Oxfam will continue to press for a climate deal for the world’s poorest people. Exclusion of civil society from the process that has characterized the meeting in Bonn must not be a precedent for Paris.

The fact that the IMF is proposing that adaptation efforts are funded by grants rather than loans is positive. But this will only work if developed countries ensure the money is there to resource this vital assistance to vulnerable countries.

The UNFCCC report on climate finance says that between $340 and $650 billion in finance for climate action is flowing globally with $40-175 billion going to developing countries each year. This report on climate finance makes one thing abundantly clear: only a small proportion of climate finance is flowing from developed countries to developing countries.

Climate-fuelled disasters were the number one driver of internal displacement over the last decade – forcing an estimated 20 million people a year from their homes. While no one is immune, it is overwhelmingly poor countries that are most at risk.

As global greenhouse emissions continue to rise, and climate change wreaks more havoc upon the people and places least responsible for the problem, rich polluting countries are now three years overdue on their promise to mobilize $100 billion a year in climate finance for low- and middle-income countries.

The small island states – the country’s most vulnerable to the impacts of climate change – outlined their proposal for a climate deal in Copenhagen today.

In response to President Obama’s climate plan announcement scheduled for this afternoon Gawain Kripke, research and policy director for Oxfam America said: 

All countries will have to contribute their fair share in cutting global emissions, says Oxfam in reaction to the IPCC report on mitigation, which was launched today.