COP20

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. 

The devastation being wrought by typhoon Hagupit must break the stranglehold of complacency that has gripped the first week of climate negotiations at COP 20 in Lima, Peru said international relief organization Oxfam.

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 UNFCCC report on climate finance says that between $340 and $650 billion in finance for climate action is flowing globally with $40-175 billion going to developing countries each year. This report on climate finance makes one thing abundantly clear: only a small proportion of climate finance is flowing from developed countries to developing countries.

All countries must use the COP20 Summit in Lima to resolve the impasse over “climate finance,” and make success possible at the critical Paris talks in December 2015, says international agency Oxfam.

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.