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On the eve of the Earth Day Summit, Oxfam is calling for President Biden and world leaders attending the virtual summit to urgently ramp up ambition to tackle the climate crisis.

This paper suggests a new approach that recognizes the failings of the current climate finance regime and is better informed by needs and opportunities at the national level.

Oxfam welcomes the new European Commission proposals for advancing climate talks. However, while the EC has highlighted emissions reduction loopholes in the Copenhagen Accord, it has ignored major loopholes on climate finance.

Rich countries’ obsession with private finance means millions of poor and vulnerable people could be left to face increasingly extreme and erratic climate alone warned Oxfam today as minist

The European Commission today published – as part of its “summer package” – a legislative proposal to reform the EU Emissions Trading Scheme (ETS). The Commission has failed to use this key opportunity to help address a key stumbling block in the climate negotiations: the provision of predictable and additional climate finance.  

Today European Finance Ministers agreed their common position for the United Nations COP 19

“The G20 reiterated previous commitments to reduce inequality, boost the participation of women in work and phase out inefficient fossil fuel subsidies. The G20 said they would draw up a proper response to the refugee and migrant challenge next year, which is too late. The world needs urgent action now, not more words.”

The joint US-China statement on new domestic policy commitments and a vision for a global climate change deal underscores the importance the world’s two largest emitters place on solving the climate crisis, says Oxfam, but collective action is needed.

Responding to the final communiqué of the COP25 climate talks in Madrid, Chema Vera, Interim Executive Director of Oxfam International, said: “The world is screaming out for climate action but this summit has responded with a whisper. The poorest nations are in a sprint for survival yet many governments have barely moved from the starting blocks."

On Wednesday, the European Commission will put forward a communication outlining its stance on the global climate change talks aimed at reaching a deal by world leaders by the end of the year.