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Oxfam's reaction to the latest climate finance draft text at COP29.  

Suspending debt owed to rich countries is only one piece of the puzzle. Rich private banks and investors should be pushed to cancel debts by enforcement and not left to voluntary action, said Oxfam today in response to the announcement that the G20 has agreed to suspend debt repayment of the poorest countries.

Over a decade ago, developed countries committed to mobilize $100bn per year by 2020 to support developing countries to adapt and reduce their emissions. The goal is a critical part of the Paris Agreement. As 2020 draws to a close, Oxfam’s Climate Finance Shadow Report 2020 offers an assessment of progress towards this goal.

“Moderna’s discovery could be a real game-changer in the fight against COVID-19. However, on its own, Moderna can only produce enough vaccine for less than seven percent of the global population by the end of 2021, almost all of whom will be in rich countries," said Anna Marriott, Oxfam’s Health Policy Manager, in response to the announcement today from the National Institutes of Health that early data shows Moderna’s COVID-19 vaccine is nearly 95 percent effective.

As more than 160 countries come together to sign the Paris Climate Change Agreement, taking a critical step towards its implementation, Oxfam calls on governments to continue to confront climate change collectively and turn their commitments into action.

As the Camp David G8 Summit winds down, international agency Oxfam criticized G8 leaders for failing to renew measurable funding and policy commitments to help address global food security.

Responding to the publication today of the IPCC’s Working Group III report on climate change mitigation, Oxfam’s Climate Policy Lead Nafkote Dabi said: “This IPCC report pulls no punches. It’s not about taking our foot off the accelerator anymore —it’s about slamming on the brakes. A warming planet is humanity’s biggest emergency."  

The G7 have made a stuttering start on climate but have largely neglected the plight of people living in poverty, said Oxfam at the close of the annual leaders’ summit in Germany today.

Responding to President Trump’s speech at the World Economic Forum in Davos today, Amitabh Behar, Oxfam's representative at the World Economic Forum Annual Meeting in Davos, said: “Don't be fooled by President Trump's glowing self-review.  This was a speech for the billionaires that the President's agenda has propped up at the expense of millions of ordinary Americans."

The richest 10 percent of Europeans produced as much carbon pollution in 2019 as half of Europe’s poorest population, Oxfam reveals today. These findings, based on Oxfam’s new report “Climate Equality: A Planet for the 99%”, come ahead of the UN climate summit in Dubai and amid growing fears that the 1.5°C target for curtailing rising temperatures appears increasingly unachievable.