climate justice

Nepal’s catastrophic floods must be a wake-up call on climate action as death toll passes 1,000 warns Oxfam

September 3, 2026

A week on, search and rescue operations and humanitarian aid efforts are a desperate race against time.
Almost 4,000 people are missing, and some 50,000 people urgently need access to clean water, sanitation and hygiene.
Nepal produces just 0.1% of global emissions, yet communities are paying a devastating price as climate risks grow.

The catastrophic floods in Nepal are a stark warning of what a hotter world will mean for communities on the climate frontline and why governments and donors must invest now in climate resilience, adaptation and disaster preparedness, rather than waiting for the next disaster to strike, Oxfam has warned.

A week after the devastating floods, rescuers are still scrambling to reach people cut off by destroyed roads, bridges and landslides. Oxfam and local partners are racing to deliver life-saving assistance, but the scale of the destruction is making access to some of the worst-affected areas, particularly Rasuwa, increasingly difficult.

“Nepal contributes just 0.1% of global emissions, yet our communities are paying a devastating price as climate risks grow,” said Santosh Pandey, Oxfam in Nepal’s Humanitarian and Disaster Risk Management Lead.

“Nepal’s devastating floods should be a wake-up call for governments and donors. We cannot keep waiting for disasters to happen. In a burning world, climate shocks will become more frequent here and communities need the resources to prepare, adapt and become more resilient before the next disaster strikes.”

The Government of Nepal estimates that 10,000 households – around 50,000 people – require immediate access to clean water, toilets and hygiene, with thousands more in need of shelter and food.

Oxfam launched an emergency response a day after the floods struck. It is working with local authorities and partners in Rasuwa, Nuwakot and Dhading to reach some of the worst-affected communities.

The major flash flood on 26 August was triggered by a massive glacier collapse and ice-rock avalanche that blocked the Lhende Khola, 20km north of the Rasuwagadhi checkpoint. At least 1,000 people have been killed and 3,916 remain unaccounted for, while more than 50,000 people have been displaced or temporarily moved from their homes.

Nepal is highly exposed to floods, landslides and earthquakes. Climate change is adding further pressure through rapidly changing glaciers, snow and water systems and increasingly unpredictable extreme weather. The Himalayan region also faces growing risks from glacial floods in the years ahead.

Oxfam said far more investment is needed in climate adaptation, early warning systems, disaster preparedness and resilient infrastructure, particularly in countries that have contributed little to global emissions.

“The lesson from Nepal is clear: resilience saves lives,” said Pandey. “If we only fund the response after a disaster, we will always be one step behind. Communities need sustained investment to prepare for the shocks we know are coming.”

“But for now our focus must be on action – we are in a race against time to save lives and support everyone affected.”

He added: “We know that shelter, food and emergency hygiene kits are desperately needed. We are doing everything possible to reach the affected populations, but against such immense need, our contribution feels overwhelmingly small.”

Oxfam has deployed 200 hygiene kits and 1,000 water purification tablets to Rasuwa and distributed water, sanitation and hygiene and food assistance in other affected communities.

It is also preparing to scale up its response over the next six months, aiming to reach 2,000 households – around 10,000 people – with life-saving assistance including WASH, shelter, protection and cash support.

But Oxfam warns that emergency relief alone will not protect Nepal from the next shock.

“Nepal needs international solidarity now, but it also needs investment for the future,” said Pandey. “Climate action must become a priority, not an afterthought.”

Ends

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Notes to editor

Oxfam has worked in Nepal since the 1980s, alongside communities and local partners to tackle inequality and deliver humanitarian and development programmes. Its work is grounded in strengthening civic space and supporting people to challenge the injustices that keep them in poverty, led by a feminist approach rooted in the Global South. Oxfam in Nepal works across three connected areas: climate and water, gender justice, and humanitarian response and disaster risk management.
Oxfam is working closely with the National Disaster Risk Reduction and Management Authority (NDRRMA), the Social Welfare Council and District Administration Offices to deliver relief materials to affected communities.

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Spokespeople in Nepal and New Zealand are available. To arrange interviews please contact: [email protected]

Rise Together: Funding Climate Resilience in Tuvalu

August 7, 2026

Read full report – Rise Together – Funding Climate Resilience in Tuvalu here.

The people of Tuvalu stand on the frontline of a global climate emergency they had no part in causing. Their efforts to overcome the existential threats of the climate crisis come with costs that they cannot and should not carry alone.

For Tuvalu to stay resilient to the escalating climate crisis requires a matching escalation of international support, alongside redoubled efforts to ensure the equitable, effective, and transparent use of resources. Funding resilience in a climate crisis is a complex challenge for Tuvalu and its international partners, but it is essential to get it right. Nothing less than the sovereignty and fundamental rights of the Tuvaluan people depends on it.

Key to the effort will be a broadening and deepening of adaptation efforts so that no one is left behind. This requires amplifying the voice and leadership of women, persons with disabilities, youth, and others who have too often been left out of decisions on funding climate adaptation, even as they carry the heaviest burdens of the crisis.

This report features an analysis of current climate finance flows, which reveals that international investments are heavily skewed toward large-scale physical engineering, often overlooking the critical social infrastructure necessary for holistic, locally led adaptation. Furthermore, the operational reality of these large-scale projects highlights broader systemic constraints. Relatively little of the international climate finance committed to Tuvalu is actually spent in Tuvalu. The majority of funds go to international contractors and consultants and to imported equipment and supplies. While some of this international spending is necessary, especially for large infrastructure projects, Tuvalu’s economy is receiving less benefit from international projects than other similar countries. Tuvalu should develop a local procurement framework to ensure that projects supported by international partners leave behind robust institutional memory and a strengthened domestic workforce capable of sustaining long-term adaptation. This could include joint venture arrangements where appropriate, along with requirements for local employment and skills development.

Additionally, this report promotes several recommendations:

Formalise Climate Tracking in the National Regulatory Framework
Establish a Sovereign Public Climate Finance Portal
Formalise Participatory Fiscal Tracking
Implement a ‘Local Joint-Venture’ Procurement Policy
Negotiate Budget Support for Permanent Civil Service Roles
Guarantee Kaupule Access to Coordinated Climate Project Support
Establish a Baseline Target for ‘Social Infrastructure

Contact information:

For more information contact: [email protected]

Big Oil set to double profits as their emissions fuel deadly heatwaves

July 28, 2026

• Top six fossil fuel corporations expect Q2 profits to nearly double Q1 levels. Annual profits for 2026 are set to exceed the previous 21 months combined.

• Emissions from five fossil fuel corporations were enough to cause about 1 in 4 heatwaves between 2000 and 2023, which would have been virtually impossible without climate change.

• A tax on the richest oil and gas corporations could raise up to $400 billion in its first year, enough to cover annual climate adaptation costs in low- and middle-income countries.

The world’s six biggest fossil fuel corporations are expected to nearly double their combined net income in the second quarter of 2026, jumping from $23 billion in the previous quarter to $45 billion, reveals new Oxfam analysis ahead of their earnings announcements. New data also finds that the emissions of these corporations have significantly magnified the frequency and severity of heatwaves this century.

The projected full-year profits of BP, Chevron, Eni, ExxonMobil, Shell and TotalEnergies amount to $147 billion, more than their combined profits over the previous 21 months (Q2 2024 to Q4 2025). Among the biggest winners, Chevron is expected to report that it has quadrupled its profits to $1,200 a second in the last three months, while ExxonMobil’s profits are expected to have tripled to $1,800 a second.

Oil and gas corporations share an outsized responsibility for the climate crisis. New Oxfam analysis of academic data published in Nature finds that the emissions from BP, Chevron, ExxonMobil, Shell and TotalEnergies were sufficient to cause around 1 in 4 heatwaves reported globally between 2000 and 2023 – heatwaves that would have been virtually impossible without human-made climate change. Using S&P Capital Trucost data, Oxfam estimates that Big Oil was responsible for $60 billion in environmental damage last year.

The findings come as record-breaking heatwaves scorch South Asia, Europe and North America, killing tens of thousands of people. Meanwhile, West African countries are struggling with devastating monsoons and floods that have upended thousands of lives and destroyed vital infrastructure across the region.

Yet rather than scaling back fossil fuel production and accelerating the transition to renewable energy, the six largest fossil fuel corporations plan to increase oil and gas production by 14 percent by 2030 compared to 2024 levels, equivalent to pumping an additional 2.5 million barrels of oil a day.

“Fossil fuel corporations are making a killing, literally and figuratively. As extreme heat, floods and storms devastate communities across the world, the industry is preparing another bonanza of profits. Families are paying the price three times over: through destroyed homes and harvests, through soaring energy prices, and through a cost-of-living crisis worsened by dependence on fossil fuels. Big Oil’s greed is incompatible with a livable planet and unless governments rein it in, they will make a mockery of international climate targets,” said Oxfam’s Climate Policy Lead Mariana Paoli.

Oxfam estimates that a tax on the profits of the largest fossil fuel corporations could raise up to $400 billion globally in its first year, enough to cover annual climate adaptation costs in the Global South. An additional excess profits tax on all corporations could generate up to $681 billion globally.

“While Big Oil fuels extreme weather events, rich countries are refusing to increase the public climate finance that poorer countries urgently need to cope with the climate crisis,” said Paoli. “Until governments make the richest polluters pay, fossil fuel corporations will keep driving us deeper into climate chaos. Taxing the richest polluters could help close the gap in funding for climate adaptation and speed the transition towards renewable energy. Fossil fuel corporations must feel the heat, not us.”

Political momentum for taxing the richest polluters is growing. Italy, Germany, Spain, Portugal and Austria have called for a new windfall tax on energy profits. In Australia, where Oxfam research found that one in three coal, oil and gas corporations are paying no corporate income tax, many members of Parliament are speaking out in support of a 25 percent export tax on gas, with strong public support.

Research in 60 countries found that 28 percent of them have implemented a temporary windfall tax on excess profits from fossil fuel companies in recent years, with a further 13 percent supportive. Just 12 percent are explicitly against the measure.

Oxfam Aotearoa’s Advocacy and Policy Lead, Nick Henry, said, “Fossil fuel companies have a global responsibility for climate change. The New Zealand Government should be holding these rich polluters to account and making them pay the cost of their climate damage.”

ENDS

Notes to editors

Oxfam’s research is based on S&P Capital IQ’s consensus estimates compiled from financial analysts’ forecasts. The six largest fossil fuel corporations are due to publish their second-quarter earnings over the coming week. The projected surge in profits reflects the sharp rise in oil prices following the unlawful US and Israel war against Iran.

Download Oxfam’s methodology note.

Read Oxfam’s comprehensive investigation “Big Oil profits expected to double as the world burns”. Get the latest insights, data and investigations on global inequality through the Equals podcast and newsletter.

Analysis of peer reviewed data finds that, of the 213 heatwaves recorded between 2000 and 2023, 55 would have been virtually impossible without human-induced climate change. The historical emissions of Chevron, BP, ExxonMobil, Shell, and TotalEnergies were, on their own, enough to cross the threshold that made nearly all those heatwaves over 10,000 times more likely (50 heatwaves for TotalEnergies, 51 for the four others). This means that the emissions of any of those five corporations were enough, on their own, to cause around 1 in 4 of the heatwaves.

Countries in Europe reported over 10,000 excess deaths during the extreme heatwaves in June. Heatwaves are also killing tens of thousands of people in India. Dozens of people drowned, hundreds had to be rescued and thousands were displaced when floods struck the coasts of west Africa last month.

Oxfam estimates that an additional tax on the profits of 585 of the world’s major oil, gas and coal corporations would raise $400 billion. An additional 50 percent tax on the excess profits of all corporations other than fossil fuel energy corporations with a revenue above $100 million would raise $681 billion.

According to the UNEP Adaptation Gap Report 2025, the estimated adaptation finance needs of low- and middle-income countries range from $310 billion to $365 billion per year by 2035.

Read the details of Oxfam’s model for a ”rich polluter profit tax”.

Read the letter from EU Economy and Finance ministers calling for a windfall profit tax on energy corporations.

Download Oxfam Australia’s Freeloaders report.

See the country mapping of government support for fossil fuel taxes.

Contact information:

For more information or to arrange an interview, please contact: [email protected]

Rich countries exaggerating “true value” of climate finance by around $100 billion

July 10, 2026

Rich countries have again inflated the “true value” of the climate finance they provide to low- and middle-income countries, overstating it by around $100 billion in 2024, according to new analysis by Oxfam. This exceeds the $88 billion by which climate finance was overstated in 2022.

Governments reported mobilizing nearly $137 billion in climate finance in 2024 to help Global South countries cut emissions and cope with the worsening impacts of climate breakdown. While $106 billion of the reported amount was provided as public finance, $69 billion (65 percent) was delivered as loans. Many of these loans are provided on market terms, requiring little or no financial effort from rich countries while increasing the debt burdens of countries in the Global South.

Oxfam estimates that the “true value” of the climate finance provided by rich countries in 2024 is between $33 billion and $45 billion, equivalent to no more than one-third of the amount reported. Only $15 billion to $18 billion was allocated to adaptation.

The findings come just weeks after the Bonn climate talks, where rich governments refused to strengthen the commitment they made at COP30 in Brazil to triple adaptation finance by 2035. Oxfam estimates that even tripling adaptation finance would meet only one-third of poorer countries’ adaptation needs.

Oxfam calculated the “true value” of climate finance by estimating the grant equivalents of climate-related loans and other non-grant instruments, rather than at their face value, in order to gauge rich countries’ real financial effort. Oxfam accounts for the difference between loans at market rate and those at preferential terms, while also considering the overly generous claims about the climate-related significance of these funds.

“New Zealand is outperforming other richer countries by giving all our climate funding as grants, not loans,” said Oxfam Aotearoa Policy and Advocacy Lead Nick Henry. “New Zealand’s climate grants are an essential lifeline for our Pacific neighbours and we need to keep our promise to increase the funding over time.”

“Once again, the richest and most polluting countries are inflating the value of the climate finance they provide, creating the illusion of solidarity while delivering far less than they claim,” said Oxfam Climate Policy Lead Mariana Paoli. “Instead of helping poorer countries withstand a crisis they did little to cause, rich countries are pushing them deeper into debt through loans, many offered on profitable commercial terms. It is a cruel irony: those most responsible pay less —and even make a profit— while those least responsible pay more.”

“What is needed is public, grant-based climate finance at the scale the climate crisis demands —not accounting tricks, not loans that worsen debt, and not empty promises. Grants are lifelines that enable countries to adapt to a changing climate, cut emissions, protect lives, and respond to devastating loss and damage. At COP31, rich countries need to drastically increase grant-based climate finance and finally deliver on the commitments they have made.”

Notes to editors

Download Oxfam’s methodology note. Calculations are based on original research by INKA Consult and Steve Cutts using the latest OECD climate-related development finance datasets for 2023 and 2024. Figures are rounded to the nearest 0.5 billion.

According to the OECD, rich countries say they mobilized $136.7 billion in climate finance for Global South countries in 2024.

In 2022, rich countries overstated the “true value” of their climate finance by up to $88 billion.

According to the UNEP Adaptation Gap Report 2025, the estimated adaptation finance needs of low- and middle-income countries range from $310 billion to $365 billion per year by 2035.

At the Bonn climate talks last month, rich governments refused to strengthen the commitment they made six months ago at COP30 in Belém, Brazil, to triple adaptation finance, which Oxfam estimates would still provide only one-third of the finance needed to meet the needs of poorer countries.

Contact information:

For more information or to arrange an interview contact: [email protected]

Oxfam reaction to the 2026 Bonn climate negotiations

June 18, 2026

The missing billions: Rich countries sidestep climate finance commitments at Bonn

As the 2026 Bonn climate meetings draw to a close, Oxfam Climate Policy Lead Mariana Paoli said:

“The UN negotiations have once again been derailed by rich countries’ refusal to take responsibility for increasing critical public climate finance. Oxfam estimates that the commitment to triple adaptation finance would, if implemented, provide $120 billion, only around a third of the projected needs for developing countries by 2035 ($310 to $365 billion). Climate-vulnerable countries in the Global South continue to be left with insufficient resources to cope with the harmful impacts of the climate crisis.

“It is a dark irony that the world minted its first trillionaire at the very moment that rich countries were pinching pennies at Bonn. At a time when multilateralism faces an existential threat and rich polluters accelerate the path to climate breakdown, the unwillingness of rich countries to engage meaningfully is astonishing.

“Delegates continued to talk about a new global body to coordinate and accelerate a just energy transition – which gives us a glimmer of hope. However, too many important issues involving climate finance and mitigation were simply kicked down the road to COP31.

“The Turkish and Australian COP31 presidencies must put these items high on the agenda. All governments, particularly the richest and most polluting, must show their leadership in scaling up public climate finance – and do so by cutting out the influence of super-rich polluters and centring the needs of the communities who are at the forefront of the climate crisis.”

Notes to editors

Contact information:

For more information or to arrange an interview contact: [email protected]

Governments falling 90 percent short of climate adaptation finance needs, Oxfam warns ahead of Bonn climate talks

June 3, 2026

Governments are falling 90 percent short of adaptation finance targets and leaving people in climate-vulnerable communities drastically under-equipped to cope with the devastating impacts of climate change, Oxfam warns ahead of Bonn climate talks (8-18 June).

According to the Organization for Economic Cooperation and Development (OECD), as of 2024, governments mobilized $32 billion in public adaptation finance – around 90 percent short of the $310 billion to $365 billion projected needs for developing countries by 2035. To bridge this gap, rich countries would have to increase their adaptation financing tenfold.

“The New Zealand Government has failed to renew our climate finance commitment that ended in 2025. This is depriving our neighbours in the Pacific of at least $100 million every year,” said Nick Henry, Oxfam Aotearoa’s Advocacy and Policy Lead.

“While climate impacts on communities in the Pacific are accelerating, our Government is falling behind on our fair share of support for our neighbours.

“Oxfam Aotearoa calls on our Government and all political parties to commit to funding our fair share of climate adaptation needs for our Pacific neighbours.”

The total climate finance of $137 billion reached in 2024 is also just a fraction of what countries need to transition away from fossil fuels.

This shortfall highlights a stark global inequality, that those who have done the least to cause the climate crisis are being hit by the heaviest damage and short-changed from the funding promised to help them deal with it. People living across the Global South, women, girls and Indigenous groups are overwhelmingly bearing the costs of environmental devastation.

Meanwhile, super-rich corporations and individuals — largely based in the Global North — have seen their wealth skyrocket.

The profits of the six biggest fossil fuel corporations are projected to hit $94 billion in 2026, continuing to attract mega-investors. Almost 60 percent of billionaire investments are classified as being in high climate impact sectors, such as mining or oil and gas corporations.

“For too long, governments have coddled a super-rich elite whose huge emissions and dirty investments in polluting industries are throttling climate action. At Bonn, leaders must tackle this unequal concentration of wealth and power. It’s time to make rich polluters pay, and channel that wealth into accessible, participatory climate finance in a way that reaches the communities who need it most,” said Mariana Paoli, Oxfam International’s Climate Lead.

Recent polling commissioned by Oxfam across seven countries found that approximately two-thirds (68 percent) of the public support increasing taxes on the profits of large oil and gas corporations to help fund a fair transition to renewable energy.

Oxfam urges governments to:

Slash 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 a carbon capital levy on investments in polluting sectors.
Remove the financial barriers blocking a Just Transition by cancelling debt, phasing out fossil fuel subsidies and overhauling a financial architecture systemically skewed against Global South countries.
Substantially increase climate finance to support communities on the frontlines of the climate crisis. This means fulfilling the $300 billion annual target agreed at COP29, including tripling funding flows specifically for adaptation, and substantially increasing resources to address loss and damage.

ENDS

Notes to editors

According to the OECD, in 2024, wealthy countries mobilized $137 billion in total climate finance to support climate action in low- and middle-income countries. Of this, $102 billion came in the form of public finance, mostly as loans. Public finance for adaptation amounted to $32 billion.

The UNEP Adaptation Gap Report 2025 calculates that the cost of adaptation finance needed in low- and middle-income countries is $310 billion per year in 2035, when based on modelled costs. When based on extrapolated needs expressed in Nationally Determined Contributions and National Adaptation Plans, this figure rises to $365 billion a year.

Oxfam research finds that six of the biggest fossil fuel companies (Chevron, Shell, BP, ConocoPhillips, Exxon and TotalEnergies) are projected to earn $2,967 a second in profits in 2026. Download the methodology note.

Download “Climate Plunder: How a powerful few are locking the world into disaster”, the executive summary and the methodology note. The report is also available in Spanish, French and Portuguese.

The global poll, conducted by market research company Norstat in April 2026, gathered responses from people in seven countries (UK, France, Brazil, Turkey, Australia, the Netherlands and Colombia). The polling also showed that support for taxing oil and gas corporations to fund the renewable energy transition crossed party lines. In six of the countries, there were more far-right respondents who supported such a tax, than those who opposed it.

Contact information:

For more information or to arrange an interview contact: [email protected]