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Rulings by the General Court of the European Union today are a wake-up call for the EU to stop the destructive race to the bottom on taxation and reform the global architecture to create a fairer and more equitable system, says Oxfam.

Up to a quarter of a billion people are at risk of falling into extreme poverty this year due to the COVID-19 pandemic, climate crisis and the crisis in Ukraine. Global inequality threatens to rise massively unless more is done to effectively address this situation.  

Today, EU leaders met in Brussels to discuss the implications of the Ukraine war on food security. In response, Hanna Saarinen, Oxfam EU food expert said:  “EU leaders must learn from this moment. Only by taking a step back and looking at the bigger picture, can they avoid copy-pasting the same policies which led to the food price crisis of 2007-2008, and which have led to the one the world faces today.  

In response to calls for a waiver of Trade and Intellectual Property Rules (TRIPS) for COVID-19 vaccines, which is backed by more than 100 mostly developing countries, being blocked again at World Trade Organisation talks by rich countries, Oxfam’s Health Policy Manager, Anna Marriott, said:“This is a massive missed opportunity to speed up and scale up the production of lifesaving vaccines worldwide by waiving the intellectual property barriers that prevent more qualified manufacturers joining the effort.

In response to Jeff Bezos’ space flight scheduled for Tuesday, Deepak Xavier, Oxfam International's Global Head of Inequality Campaign, said: "We’ve now reached stratospheric inequality. Billionaires burning into space, away from a world of pandemic, climate change and starvation. 11 people are likely now dying of hunger each minute while Bezos prepares for an 11-minute personal space flight. This is human folly, not human achievement."

The IPCC Working Group II report released today

The budget deal struck by EU governments, the European Parliament and the European Commission promises more funds for the EU’s external action, but diverts money from those most in need, warn development and humanitarian organizations.

Oxfam analyzes the commitments being brought by government and corporate sector leaders to the Climate Summit and reveals that they fall short of what is urgently needed.

Reacting to the announcement that World Bank President Robert Zoellick will step down at the end of his term on June 30th, a global coalition of campaigners has called for an open and merit-based process to elect the next World Bank leader, and for developing countries to determine the selection.

The prospective new international Arms Trade Treaty must regulate the sale of parts and components being used to maintain or manufacture deadly weapons and military equipment, according to a new report by Oxfam.