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A new report published today by Oxfam and WWF argues that a proposed deal to apply a carbon price to international shipping should be at the heart of the agreement at the UN climate change conference in Durban, South Africa, later this year.

Climate change could put back the fight against hunger by decades but our global food system is woefully unprepared to cope with the challenge.

The world’s five richest men have more than doubled their fortunes from $405 billion to $869 billion since 2020 —at a rate of $14 million per hour— while nearly five billion people have been made poorer, reveals a new Oxfam report on inequality and global corporate power. If current trends continue, the world will have its first trillionaire within a decade but poverty won’t be eradicated for another 229 years.

“Climate change has set our planet on fire, millions are already feeling the impacts, and the IPCC just showed that things can get much worse," said Raijeli Nicole, regional director for Oxfam in the Pacific.

In response to the outcome of the June UN Climate Meetings (SB60) in Bonn, Germany, Nafkote Dabi, Oxfam International’s Climate Change Policy Lead, said: "This year’s climate talks felt like treading water in a rising tide, with the world’s biggest economies failing to act with the urgency this crisis demands. Rich countries continue to shirk their responsibilities in contributing their fair share to the global effort to reduce carbon pollution."

Countries can start tackling inequality today by triggering an “economic stimulus” directly into the pockets of those who need it most – by investing more in public services like health and education.

Vietnam has a strong record of poverty reduction, but today, increasing inequality is threatening decades of progress. To tackle the dangerous gap between rich and poor, Vietnam should urgently implement progressive policies on governance, taxation, public spending, public services, labour rights, and civic engagement.

New figures released by the UN Food and Agriculture Organisation (FAO) show that the number of hungry people has risen for the third year in a row, mainly as a result of conflict and the climate crisis. However, despite the spiralling hunger and two global food price crises in a little over ten years, hunger has fallen off the political agenda.

Pressure is piling on the G20 to lead a global push to increase taxes on the richest citizens back to past levels that most people believe were fairer and more useful for society. 

From campaigning to end the financial secrecy that shelters trillions hidden in tax havens, to encouraging investment in universal education and healthcare – Oxfam is working to make sure that the poor get a share of the power and resources that will help to reduce poverty and inequality.