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Today, the European Parliament voted in favour of an European Financial Transaction Tax (FTT), with 487 votes in favour out of 685.

In reaction to the plenary remarks delivered by World Bank President Jim Kim, Oxfam’s head of Washington office, Nicolas Mombrial, said:

Today, pharmaceutical company Roche announced that it will contribute to the Medicines Patent Pool (MPP) by making its

Over 50 leading financiers have expressed their support for a European Financial Transaction Tax (FTT) ahead of a meeting of Finance Ministers in Brussels next week. In an open letter to European leaders, the financiers argue the FTT will reduce financial instability and raise significant additional government revenue.

Oxfam, the AFL-CIO, Trillium Asset Management and several other investors today filed a formal shareholder resolution urging PepsiCo to account for land rights violations in its supply chain. A recent investigation by Oxfam revealed that companies supplying sugar to PepsiCo and its franchisees have been implicated in violent land grabs, pushing small farmers off their land and undermining their livelihoods.

One year since conflict broke out in the Tigray region of Ethiopia, almost seven million people in Tigray and in neighboring Amhara and Afar are suffering from the toll of violence, human rights abuses, hunger, locusts, and the COVID-19 pandemic.

Today, the European Commission put forward a proposal for a law to clean up supply chains worldwide and make business sustainable. This new law will introduce important reforms only applying to a small group of very large companies selling goods and services on the EU market. Contrary to the Commission’s initial ambitions, it does not include significant reforms to directors’ duties.  

Oxfam applauds the World Bank's new strategy to halve extreme poverty by 2020 and end it by 2030, but swift action is now needed to bring the strategy to life.

The Ethiopian government estimates that 10.2 million people will need humanitarian assistance this year after more than 12 months of erratic or failed rains have caused the worst drought in Ethiopia since the mid 1980s. Ethiopia is one of a number of countries struggling to cope with the effects of one of the strongest El Niños on record. 

An inadequate response to El Nino will put an already overstretched humanitarian system under intense strain and expose tens of millions more people to the extreme risk of hunger, homelessness and disease. Funding is urgently required to prevent millions more women, children and men around the world from going hungry, suffering water shortages, falling ill and seeing their livelihoods collapse.