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

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."

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. 

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

Climate change is a brutal reality confronting the world’s most vulnerable people. Their need for financial support to adapt to climate extremes is urgent and rising.

“There is still a long way to go: this is crunch time. The chance to set new funding targets from when the Paris deal comes into force in 2020 is still very much on the table and needs to stay there if developing countries are to have any hope of more support in the years ahead."

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

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…

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.