Lima

At the Annual Meetings of the World Bank and the IMF in Peru this week, moves to help combat inequality and climate change were announced, but G20 finance ministers failed to adequately address the skewed international tax system, said Oxfam today.

Ministers must deliver on their climate finance promises and support a second wave of attack on corporate tax cheats if their Lima meeting is to succeed, said Oxfam today. 

Another year of increasingly extreme and destructive weather and new political momentum were not yet enough to boost the ambition of UN climate talks in Peru. The decisions made in Lima do not foreclose the possibility an agreement in Paris, but do little to improve the odds of success.

Oxfam finds that the new texts reflect unchangd country positions with many key issues still unresolved. 

Norway's announcement of $230 million USD welcomed, but still a long way to go to reach the Fund's unofficial goal of $10 billion.

The announcement of $9.2 billion in pledges to the Green Climate Fund ahead of the Lima climate summit is welcome but only a bare minimum, says Oxfam.