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Europe’s refusal to commit money to help poor people cope with climate change could derail the chances of reaching a fair climate deal in Copenhagen, warned Oxfam International today.

Today, European finance ministers updated the EU tax haven list. They added Brunei Darussalam and removed Costa Rica and Curaçao from the greylist. There were no changes to the blacklist. 

EU governments are losing out on a staggering 286.5 billion euros in revenue annually, equivalent to 33 million euros per hour, due to their failure to fairly tax Europe’s wealthiest. This amount, equivalent to Finland’s GDP, represents what a European wealth tax of up to 5 percent could raise every year, according to Oxfam’s analysis. 

Despite being largely responsible for the worsening climate crisis in East Africa, rich nations paid Ethiopia, Kenya, Somalia, and South Sudan just $2.4 billion in climate-related development finance in 2021, in stark contrast to the $53.3 billion East Africa says it needs annually to meet its 2030 climate goals.  

Today’s proposal by the European Commission to cap support for biofuels made from food crops at 5% of the demand for energy in transport sends a welcome but long overdue message to markets

In reaction to today’s EU Environment Ministers’ biofuels debate, Marc-Olivier Herman, Oxfam’s EU Policy Advisor, said:

EU governments are unwilling to tackle large-scale tax avoidance of multinational companies, Oxfam says in reaction to a new directive formally approved today.

A proposal by the European Parliament’s industry committee on the use of biofuels risks increasing emissions in transport, pushing up global food prices and negatively impacting people around the world who live from the land, Oxfam and green NGO Transport & Environment warn.

Lack of funds and limited relief stocks will severely hamper the Pakistan government’s and aid agencies’ ability to respond to further flooding this monsoon season, a consortium of 51 international and more than 150 national humanitarian organisations warned today.

Governments pass UN resolution to hold major diplomatic conference next year with an unprecedented 157 'yes' votes, including China for the first time, 18 abstentions & 0 votes against.