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Climate Crisis

COP30 falls short, offering a ‘spark of hope but far more heartbreak’ – Oxfam

In response to the outcome of COP30, Oxfam Brasil Executive Director Viviana Santiago said: 

“COP30 offered a spark of hope but far more heartbreak, as the ambition of global leaders continues to fall short of what is needed for a livable planet. People from the Global South arrived in Belém with hope, seeking real progress on adaptation and finance, but rich nations refused to provide crucial adaptation finance. This failure leaves the communities at the frontlines of the climate crisis exposed to the worst impacts and with few options for their survival. 

“The stark hypocrisy of the richest nations is heartbreaking: wealthy countries speak of phasing out fossil fuels even as they plan major oil and gas expansion. A truly just transition requires those who built their fortunes on fossil fuels to move first and fastest – and provide finance in the form of grants, not loans, so frontline communities can do the same. Instead, the poorest countries already in debt are being told to transition faster, with fewer funds.  

“The spark of hope lies in the proposed Belém Action Mechanism, which puts workers’ rights and justice at the center of the shift away fossil fuels. But without financing from rich countries, the just energy transition risks becoming stalled in many countries.   

“Our greatest strength lies in people power. No other COP agreement has ever emphasized human rights as strongly as this one. Indigenous Peoples, Afro-descendant Quilombola communities, women land rights defenders and civil society across Brazil and around the world continue to demand true climate justice. Their voices are another reason for hope – and we will keep pressing governments, the fossil fuel industry, and the super-rich for financing and action until climate justice becomes reality.” 

Notes to editors

Contact information:

For more details, please contact: [email protected]

“Keep Up the Good Work” – Oxfam Aotearoa Calls on Government to Renew Climate Finance Commitment

As world leaders prepare to gather for global climate talks, Oxfam Aotearoa has launched a new report showing the positive difference that climate funding from New Zealand has made since the support was boosted from 2022.’

Oxfam in the Pacific’s Climate Justice Lead, Lote Rusaqoli, said:

“Aotearoa New Zealand has long been a leader on the global climate stage, setting the benchmark for other wealthy nations by providing all of its climate finance as grants and not loans – a move that has been incredibly beneficial for Pacific Islanders who continue to feel the worst of the climate crisis. As we approach 2026, we urge Aotearoa New Zealand to renew their climate finance commitments to help boost the Pacific’s resilience to disasters, tackle poverty, and reinforce its leadership on climate justice.”

Oxfam Aotearoa Executive Director, Jason Myers, said:

“In 2021, the New Zealand government announced its biggest climate finance contribution to date. This has enabled communities all over the Pacific to maintain resilience in the face of the climate crisis. With no further funding for climate finance announced in the 2024 or 2025 budgets, critical projects have had to begin closing out. Keeping our promise to fund climate action has become urgent and the New Zealand government must act now to renew funding. Pacific livelihoods depend on it.”

Report author, Oxfam Aotearoa’s Climate Justice Lead, Nick Henry, said:

“New Zealand’s funding for climate action has benefited tens of thousands of people across the Pacific, but runs out at the end of next month. Our message to Government is simple: we need to keep up the good work.

New Zealand must keep our promise to help our Pacific neighbours, who have done nothing to cause the climate crisis, but are already feeling the worst of the effects.

Our report shows how New Zealand’s climate funding has generated enormous goodwill and positive relationships with governments and communities in the Pacific and beyond. If we continue the trend of ramping up funding for climate action, New Zealand could be on track to meet our fair share of the assistance promised to lower-income countries, including here in the Pacific.”

NOTES FOR EDITORS:

  • Full report: Pacific Resilience: How funding for climate action strengthens our region link

  • The report includes new calculations, based on data published by MFAT, showing that New Zealand’s climate finance programme has exceeded its targets to deliver the majority of funding in the Pacific, with at least 50% supporting adaptation to climate change. The report analyses New Zealand’s climate finance since 2022 and shows that:

    • 59% of programme has been delivered in the Pacific.

    • 87% supports adaptation.

    •  57% has a significant gender-equality component.

Contact information:

For more information contact:

Nick Henry, Climate Justice Lead, Oxfam Aotearoa: [email protected]

Ten years after the Paris Agreement, the super-rich are widening the emissions gap and putting world on track for catastrophe

In response to the UNEP Emissions Gap Report published today, Nafkote Dabi, Climate Policy Lead at Oxfam, said:  

“Just days before global leaders arrive in Brazil for COP30, this report is a blaring siren calling for greater climate action.   

“Since the Paris Agreement, the richest 1% have used up more than twice the carbon budget of the poorest half of humanity. This inequality is more than unjust—it’s deadly. The extreme emissions of the richest people and countries are burning through the little remaining the amount of CO2 that can be emitted while avoiding climate disaster. Meanwhile, the poorest communities suffer the most devastating impacts.  

“Governments cannot close the emissions gap without slashing the carbon footprint of the super-rich and addressing extreme inequality. COP30 must be a turning point. Global leaders must cut the emissions of the richest, tax rich polluters and their profits, and deliver a just transition—one that creates decent green jobs, builds resilient economies, and puts people and planet before profit.”  

Notes to editors

The latest Oxfam report, “Climate Plunder: How a powerful few are locking the world into disaster”, presents new data which finds that a person from the richest 0.1% produces more carbon pollution in a day than the poorest 50% emit all year. If everyone emitted like the richest 0.1%, the carbon budget would be used up in less than 3 weeks.  

The “UN Emissions Gap report: Off Target” finds that global warming projections over this century, based on full implementation of updated government climate pledges, are 2.3-2.5°C, while those based on current policies are 2.8°C.

Contact information:

For more details, please contact: 

Rachel Schaevitz, Head of Communication, Media, & Advocacy: [email protected]

A person from the richest 0.1% produces more carbon pollution in a day than someone in the bottom 50% produces all year

  • Since 1990, the richest 0.1% have increased their share of total emissions by 32%, whilst the poorest half of humanity have actually seen their share fall by 3%.

  • If everyone emitted carbon like the richest 0.1%, the carbon budget – the amount of CO2 that can be emitted while avoiding climate disaster – would be used up in less than 3 weeks.

  • To stay within the limits of the 1.5°C threshold, the richest 0.1% would need to cut their per capita emissions by 99% by 2030. 

  • A person from the world’s richest 0.1% emits over 800 kg of CO2 every day. Even the strongest person on earth could not lift this much. In contrast, someone from the poorest 50% of the world emits an average of just 2 kg of CO2 per day, which even a small child could lift.

Ahead of the major international climate conference COP30 in Belem, Brazil, new Oxfam research finds that the high-carbon lifestyles of the super-rich are blowing through the world’s remaining carbon budget – the amount of CO2 that can be emitted while avoiding climate disaster. The research also details how billionaires are using their political and economic influence to keep humanity hooked on fossil fuels to maximize their private profit. 

The report, “Climate Plunder: How a powerful few are locking the world into disaster”, presents extensive new updated data and analysis which finds that a person from the richest 0.1% produces more carbon pollution in a day than the poorest 50% emit all year. If everyone emitted like the richest 0.1%, the carbon budget would be used up in less than 3 weeks. 

The super-rich are not just overconsuming carbon, but also actively investing in and profiting from the most polluting corporations. Oxfam’s research finds that the average billionaire produces 1.9 million tonnes of CO2e a year through their investments. These billionaires would have to circumnavigate the world almost 10,000 times in their private jets to emit this much. Almost 60% of billionaire investments are classified as being in high climate impact sectors such as oil or mining, meaning their investments emit two and a half times more than an average investment in the S&P Global 1,200. The emissions of the investment portfolios of just 308 billionaires total more than the combined emissions of 118 countries. 

“The climate crisis is an inequality crisis. The very richest individuals in the world are funding and profiting from climate destruction, leaving the global majority to bear the fatal consequences of their unchecked power,” said Amitabh Behar, Executive Director of Oxfam International. 

The power and wealth of super-rich individuals and corporations have also allowed them to wield unjust influence over policymaking and water down climate negotiations. At COP29, 1,773 coal, oil, and gas lobbyists were granted badges, more than the 10 most climate-vulnerable nations combined. Multiple rich and high-emitting countries including the US, UK, France and Germany have watered down climate laws after large donations from anti-climate lobbyists.   

“It is a travesty that power and wealth have been allowed to accumulate in the hands of a few, who are only using it to further entrench their influence and lock us all into a path to planetary destruction. The super-rich and the corporations they run have a deadly track record of bankrolling lobbyists, spreading climate disinformation, and suing NGOs and governments that try to stand in their way. We must break the chokehold of the super-rich over climate policy by taxing their extreme wealth, banning their lobbying and instead put those most affected by the climate crisis in the front seat of climate decision-making,” said Behar. 

The emissions of the richest 1% are enough to cause an estimated 1.3 million heat-related deaths by the end of the century, as well as $44 trillion of economic damage to low- and lower-middle-income countries by 2050. The impacts of these climate damages will disproportionately impact those who have done the least to cause the climate crisis, particularly people living in the Global South, women, girls and Indigenous groups. 

COP30 marks ten years since the Paris Agreement in 2015. During this period, the world’s richest 1% have burnt through more than twice as much of the carbon budget than the poorest half of humanity combined 

Ahead of COP30, Oxfam calls on governments to cut the emissions and dismantle the political and economic power of the super-rich through: 

  • Slashing the emissions of the super-rich and make the richest polluters pay, through taxation on extreme wealth, excess profits taxes on fossil fuel corporations, and supporting the UN Convention on International Tax Cooperation. A 60% tax on the total incomes of the richest 1% globally could cut carbon emissions equivalent to the total emissions of the UK and generate in the region of $6.4 trillion.

  • Curbing the economic and political influence of the richest by banning fossil fuel corporations from climate negotiations such as COP, implementing sustainability regulations for corporations and financial institutions, and rejecting trade and investment agreements like investor-state dispute settlements (ISDS) that put the interests of the super-wealthy above public good.

  • Strengthening the participation of civil society and Indigenous groups in climate negotiations and address the unequal impacts of climate change.

  • Adopting a fair-share approach to the remaining climate budget by committing to nationally determined contributions (NDCs) that reflect historical responsibility and capacity to act, and ensuring rich countries deliver ambitious climate finance.

  • Building an equal economic system that puts people and planet first by rejecting dominant neoliberal economics and moving towards an economy based on sustainability and equality. 

Notes to editors

Download – Climate Plunder: How a powerful few are locking the world into disaster

The Stockholm Environment Institute’s Emissions Inequality Dashboard is also available for consultation. 

Oxfam has launched a global petition to Make Rich Polluters Pay. 

Contact information:

Rachel Schaevitz, Head of Communication, Media, & Advocacy: [email protected]

Ten years on from the Paris Agreement, rich countries’ pitiful climate targets fall drastically short

In response to the latest Nationally Determined Contribution (NDC) synthesis report published yesterday, Nafkote Dabi, Climate Lead at Oxfam, said:

“Ten years on from the Paris Agreement, we now see revealed a damning indictment of the collective failure of global leaders to address the climate crisis. The richest and most polluting countries have betrayed the people being hit the hardest by climate disasters, particularly those in low-income countries, Indigenous people and women.

Countries’ climate plans will reduce global emissions by just 10% by 2035, far short of what is needed. Science is clear: emissions must fall by at least 60% from 2019 levels in order to avoid climate breakdown. The EU has failed to even submit a new NDC while the US has withdrawn totally from the Paris Agreement and is slashing its already minimal climate finance.”

Oxfam Aotearoa’s Climate Justice Lead, Nick Henry, added: “”Despite the global need to strengthen climate action, New Zealand is not even on track to meet our existing commitments. We need our leaders in Government to show us a plan for real action to keep their promises and reduce emissions.”

Nafkote Dabi continued, “China’s first emissions reduction target of 7-10% from peak levels by 2035 is a step forward but still falls short of aligning with global climate goals. Brazil, host of COP30, despite being a climate leader, continues to approve new oil exploration in the heart of the Amazon – a contradiction that undermines its credibility.

The COP30 Summit next month must put humanity onto a safer path by insisting that world leaders deliver much bolder and more equitable NDCs than the inconsistent and inadequate collection that currently sit on its table. Central to any progress must be the tackling the extreme carbon pollution of the super-rich: the emissions of the 1% alone are predicted to cause 1.3 million heat-related deaths by the end of the century, and blow through the world’s remaining carbon budget.

The richest countries and richest people are locking the world into a catastrophic trajectory which COP30 must arrest.”

Notes to editors:

The International Court of Justice (ICJ), the world’s highest court, has confirmed that countries have a legal obligation to reduce emissions enough to protect the universal rights to life, food, health, and a clean environment.

Research by Oxfam International and CARE Climate Justice Centre finds that two thirds of climate finance is currently in the form of loans, increasing the debt burden on poor countries, which stands at $3.3 trillion. The $100 billion annual commitment agreed at COP15 remains unmet, and the $1.3 trillion needed for mitigation and adaptation has also not been delivered.

Research by Oxfam International finds that the energy consumed by the wealthiest 1% – predominantly in the Global North – alone would be enough to meet the basic energy needs of people without electricity access seven times over.

Research by the United Nations finds that emissions cuts of 42 per cent are needed by 2030 and 57 per cent by 2035 to get the world on track for 1.5°C. 

Contact information:

For more details, please contact: [email protected]

Two thirds of climate funding for Global South is loans as rich countries profiteer from escalating climate crisis

New research by Oxfam and CARE Climate Justice Centre, published today, finds developing countries are now paying more back to wealthy nations for climate finance loans than they receive- for every 5 dollars they receive they are paying 7 dollars back. 65% of funding is delivered in the form of loans.  

This form of crisis profiteering by rich countries is worsening debt burdens and hindering climate action. Compounding this failure, deep cuts to foreign aid threaten to slash climate finance further, betraying the world’s poorest communities who are facing the brunt of escalating climate disasters. 

Some key findings of the report: 

  • Rich countries claim to have mobilized $116 billion in climate finance 2022, but the true value is only around $28-35 billion, less than a third of the pledged amount. 

  • Nearly two thirds of climate finance was made as loans, often at standard rates of interest without concessions. As a result, climate finance is adding more each year to developing countries’ debt, which now stands at $3.3 trillion. Countries like France, Japan, and Italy are among the worst culprits.  

  • Least Developed Countries got only 19.5% and Small Island Developing States 2.9% of total public climate finance over 2021-2022 and half of that was in the form of loans they have to repay.  

  • Developed nations are profiting from these loans, with repayments outstripping disbursements. In 2022, developing countries received $62 billion in climate loans. We estimate these loans to lead to repayments of up to $88 billion, resulting in a 42% “profit” for creditors. 

  • Only 3% of finance specifically aimed at enhancing gender equality, despite the climate crisis disproportionately impacting women and girls. 

Oxfam Aoteraoa’s Climate Justice Lead, Nick Henry said: “New Zealand does well in providing all of our climate finance as grants rather than loans, setting an example for other rich countries to follow.” 

“Rich countries are treating the climate crisis as a business opportunity, not a moral obligation,” said Oxfam’s Climate Policy Lead, Nafkote Dabi. “They are lending money to the very people they have historically harmed, trapping vulnerable nations in a cycle of debt. This is a form of crisis profiteering.” 

This failure is occurring as rich countries are conducting the most vicious foreign aid cuts since the 1960s. Data by the OECD shows a 9% drop in 2024, with 2025 projections signalling a further 9–17% cut. 

As the impacts of fossil fuelled climate disasters intensify —displacing millions of people in the Horn of Africa, battering 13 million more in the Philippines, and flooding 600,000 people in Brazil in 2024 alone – communities in low-income countries are left with fewer resources to adapt to the rapidly changing climate. 

“Rich countries are failing on climate finance and they have nothing like a plan to live up to their commitments to increase support. In fact, many wealthy countries are gutting aid, leaving the poorest to pay the price, sometimes with their lives” said John Nordbo, Senior Climate Advisor at CARE Denmark. “COP30 must deliver justice, not another round of empty promises.” 

“New Zealand’s climate finance commitment is due to run out at the end of this year and urgently needs to be renewed. Pacific communities on the frontlines of the climate crisis need and deserve our ongoing support” said Nick Henry. 

Adaptation funding is also critically underfunded, receiving only 33% of climate finance as investors favour mitigation projects with more immediate financial returns.  

Ahead of COP30, Oxfam and CARE are calling on rich countries to: 

  • Live up to climate finance commitments: Provide the full $600 billion for 2020–2025 and clearly outline how they plan to scale-up to the agreed $300 billion annually, and lead on the $1.3 trillion Baku to Belém roadmap. 

  • Stop crisis profiteering: Drastically increase the share of grants and highly concessional finance to prevent further indebting the world’s most climate-vulnerable communities. 

  • Multiply adaptation finance: Commit to at least triple adaptation finance by 2030, using the COP26 goal to double adaptation financing by 2025 as a baseline. 

  • Provide finance for loss and damage: The global Fund for Responding to Loss and Damage must be adequately capitalized. Victims of climate change must nor continue to be ignored. 

  • Mobilize new sources of finance: Raise funds by taxing the super-rich, which in OECD countries alone can raise $1.2 trillion a year, and the excess profit of fossil fuel companies globally, which could raise $400bn per year annually. 

Notes to Editors  

Download the report. 

Methodology note.   

The CARE Climate Justice Center (CJC) leads and coordinates the integration of climate justice and resilience across CARE International’s development and humanitarian work. The CJC is an initiative powered by CARE Denmark, CARE France, CARE Germany, CARE Netherlands, and CARE International UK. To learn more, visit www.careclimatechange.org 

Results of a global survey by Oxfam International and Greenpeace show 8 out of 10 people support paying for public services and climate action through taxing the super-rich. The research was conducted by first party data company Dynata in May-June 2025, in Brazil, Canada, France, Germany, Kenya, Italy, India, Mexico, the Philippines, South Africa, Spain, the UK and the US. The survey had approximately 1200 respondents per country, with a margin of error of +-2.83%. Together, these countries represent close to half the world’s population. See the results here. 

Contact information:

For interviews or further information, please contact: 

Rachel Schaevitz, Head of Communications, Media & Advocacy: [email protected]