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On the term “abatement” appearing in the final text regarding the phase out of fossil fuels, Oxfam International’s Climate Change Policy Lead Nafkote Dabi said: “Abatement linked to fossil fuel phase out is a gift served on a silver platter to the fossil fuel industry they will gladly seize to dodge any commitments. It is a dangerous trick that will have catastrophic impacts on communities who are already in a vulnerable position due to climate breakdown.  

Finance ministers and central bankers from the G20 nations met in London on Saturday, as a preparatory session for the G20 meeting in Pittsburgh later this month, and to lay the groundwork for the Copenhagen climate talks in December.

Unresolved rigged tax rules and privatized development are the major drawbacks of the UN Financing for Development Conference outcome, says Oxfam.

The World Bank and the IMF must seize their early chance in what could be a watershed year to end extreme global poverty by putting the battle against inequality, climate change and tax dodging at the very top of its Spring Meetings’ agenda this week. 

Oxfam water engineers are having to drill deeper, more expensive and harder-to-maintain water boreholes used by some of the poorest communities around the world, more often now only to find dry, depleted or polluted reservoirs. 

People around the world are trapped in a ‘toxic triangle’ made up of short-term financial investors, timid governments and fossil fuel companies, which threatens to push up  global temperatures, putting 400 million people at risk of hunger and drought by 2060.  

Negotiators at the UN climate talks have narrowly avoided a collapse, agreeing to the bare minimum deal possible.

In response to the United Nations Environment Program’s Adaptation Gap Report 2023, Nafkote Dabi, Oxfam International’s Climate Change Policy Lead, said: “The report underlines how the gap in adaptation funding —at its ‘highest ever’ amid accelerating climate breakdown— must be addressed with the utmost urgency next month in Dubai."

Climate change is making extreme weather much more likely. As the 2012 drought in the USA shows, extreme weather means extreme food prices.

The EU position on climate finance for the Paris climate summit was adopted today by the EU Finance Ministers. Unfortunately, it falls short of what is needed to deliver a strong deal in Paris that empowers the world’s poor to cope with the current and future impacts of climate change and to develop in a less polluting way so that their carbon emissions don’t add to the climate change problem.According to Climate Action Network (CAN) Europe, Oxfam and WWF, the EU’s weak climate finance offer risks undermining its alliance with vulnerable countries in the Paris climate negotiations…