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The world’s 2,153 billionaires have more wealth than the 4.6 billion people who make up 60 percent of the planet’s population, reveals a new report from Oxfam today ahead of the World Economic Forum (WEF) in Davos, Switzerland.

The EU’s five richest billionaires increased their wealth by 76 percent since 2020, from 244 billion euro to 429 billion, at a rate of 5.7 million euros per hour, Oxfam reveals today. At the same time, 99 percent of the EU’s population has become poorer. These findings are based on Oxfam’s new report on inequality and global corporate power. The report also reveals that if current trends continue, the world will have its first trillionaire within a decade, but poverty will not be eradicated for another 229 years. 

In response to the results of the vote on a UN resolution continuing to allow cross-border aid into Syria, Oxfam’s Regional Humanitarian Campaign Lead for MENA, Georges Ghali said: “The UN Security Council’s decision means that millions of Syrians who are suffering from the scourge of war, compounded by an economic collapse and a global pandemic, will continue to face an uncertain future. At a time when three in five Syrians are facing acute hunger, it is unconscionable to limit humanitarian assistance in this way."    

The United States’ withdrawal from the Paris Agreement is an indefensible, pointless and morally bankrupt capitulation that will only serve to weaken the global effort to combat the climate crisis, Oxfam said.

Oxfam response to the latest climate finance draft text (22 November 2024) at COP29.

A draft document entitled “A Common Vision for the World Bank Group”, which will be discussed

Oxfam is disappointed but understands the Haiti Government’s decision to withdraw Oxfam Great Britain’s permission to work in Haiti

Reacting to the report released today by the Intergovernmental Panel on Climate Change (IPCC), Tim Gore, Oxfam’s Grow Campaign Head of Policy said;

The fact that the IMF is proposing that adaptation efforts are funded by grants rather than loans is positive. But this will only work if developed countries ensure the money is there to resource this vital assistance to vulnerable countries.

Ahead of the Annual Meetings, international agency Oxfam urged the World Bank to sharpen and swiftly move forward on the new strategy to end poverty by 2030 and boost shared prosperity.