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Oxfam spokesperson Luc Lamprière said: Financial transaction tax:

"The establishment of a loss and damage fund is a monumental achievement for vulnerable developing countries and communities at the frontlines of the climate crisis. They have been calling for funding to cope with the devastating impacts of climate change for over 30 years.

The World Bank and International Monetary Fund need to ditch the ‘trickle down’ economics of the past and lead the fight against inequality if they are serious about the new target to end extreme poverty by 2030.

With abnormally high food prices and slowing efforts to tackle global hunger, the Committee on World Food Security (CFS) must now energize governments to begin fixing the broken global food system, at its annual meeting in Rome from Oct 15 – 20.

G20 leaders met for the second time in London on 2 April, as the global economic crisis began to crash across the borders of poor countries with ever-greater severity.

European Commission President Jose Manuel Barroso today threw his full support behind an EU Financial Transaction Tax (FTT) arguing that banks must make a '”contribution” back to society af

Oxfam spokesperson Luc Lampriere said:

The European Parliament today adopted a report advocating the EU press ahead with the introduction of a Financial Transaction Tax (FTT) on a unilateral basis to raise money for public goods.

Global greenhouse gas (GHG) emissions are set to rise by 10.6% by 2030 instead of falling by the 45% needed to limit the increase in global temperature to 1.5 °C. The G20 countries are the worst and most-responsible offenders, says Oxfam.

At the close of the World Bank and International Monetary Fund’s Spring Meetings in Washington, Chris Stalker, Acting Head of Oxfam International’s Washington office, commented on the week's developments.