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“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.”

Today’s World Wealth Report from Capgemini shows that times have never been better for the world’s wealthiest - since 2009 more than 4.5 million new millionaires have been created, rising to a total of 15.4 million millionaires across the world last year. Yet while the wealthy prosper, 702 million people living in extreme poverty are being left behind.

Today, Oxfam publishes “Takers Not Makers” as business elites gather in the Swiss resort town of Davos and, billionaire Donald Trump backed by the world’s richest man, Elon Musk, is inaugurated as President of the United States. The report shows that globally, billionaire wealth grew by $2 trillion in 2024 alone, at a rate three times faster than the previous year.

Climate change is the number one threat to human development.

The richest 1 percent of the world’s population produced as much carbon pollution in 2019 than the five billion people who made up the poorest two-thirds of humanity, reveals a new Oxfam report today. It comes ahead of the UN climate summit in Dubai, amid growing fears that the 1.5°C target for curtailing rising temperatures appears increasingly unachievable.

Millions of Africans live in extreme poverty, and are now hit hard by the global economic and climate crisis. Sub-Saharan Africa alone is expecting losses of up to $245 billion this year as a result of the global slump, which is almost seven times the amount it receives in global aid.

Vaccine equity campaigners have called news that Covid-19 vaccine manufacturer BioNTech will start building a vaccine production facility in Rwanda next year “far too little, far too late”.  The People’s Vaccine Alliance has also said that Moderna’s new commitment to produce 110 million doses for the African Union as “barely worth the paper it is written on” after the company failed to deliver promised vaccines to COVAX, calling on the US government to step in and mandate the company to commit to technology transfer.

Today, after five years of obstruction, Luxembourg and Austria agreed to increase the amount of information shared automatically by national tax authorities in Europe as of 2016.

The G20’s promise to pursue inclusive and sustainable growth is welcome, but its response to the Ebola crisis is dangerously inadequate.

“We needed the World Health Assembly to unite behind a People’s Vaccine, not a Trump Administration seeking scapegoats for a pandemic it has mis-handled from the start", said Anna Marriott, Health Policy Manager at Oxfam, commenting at the closure of the World Health Assembly today.