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Oxfam says: COP29 deal is a “global Ponzi scheme”

Responding to the COP29 climate finance agreement, in which rich countries agree to mobilize $300 billion a year to help Global South countries cope with warming temperatures and switch to renewable energy, Oxfam International’s Climate Change Policy Lead, Nafkote Dabi, said:

“The terrible verdict from the Baku climate talks shows that rich countries view the Global South as ultimately expendable, like pawns on a chessboard. The $300 billion so-called ‘deal’ that poorer countries have been bullied into accepting is unserious and dangerous —a soulless triumph for the rich, but a genuine disaster for our planet and communities who are being flooded, starved, and displaced today by climate breakdown. And as for promises of future funding? They’re just as hollow as the deal itself.”

Oxfam Aotearoa’s Climate Justice Lead Nick Henry said: “The failure to meet the global need for climate finance is a failure of empathy from the leaders of rich countries.” 

“New Zealand’s climate grants are an essential lifeline for our Pacific region and a positive example of public grants, not debt. Our government needs to continue ramping up this finance to at least meet our fair share of the new global goal.” 

Oxfam International’s Climate Change Policy Lead, Nafkote Dabi continues, “The money on the table is not only a pittance in comparison to what’s really needed –it’s not even real “money”, by and large. Rather, it’s a motley mix of loans and privatized investment –a global Ponzi scheme that the private equity vultures and public relations people will now exploit. The destruction of our planet is avoidable, but not with this shabby and dishonorable deal. The richest polluters need to wise up —and pay up.”

 

Contact information

Rachel Schaevitz in Auckland, NZ | Rachel.schaevitz@oxfam.org.nz | 027 959 5555 
Jeshua Hope in Suva, Fiji | jhope@oxfampacific.org | +679 7500889

COP29 must deliver more than “threadbare promises”

In response to the latest climate finance draft text at COP29, Oxfam International’s Climate Justice Lead, Safa’ Al Jayoussi, said:  

“COP29 must do more than simply repeat the same threadbare promises. Rich countries have spent decades now stalling and blocking genuine progress on climate finance. This has left the Global South suffering the most catastrophic consequences of a climate crisis they did not create. The draft text scandalously misses the crucial element of declaring a clear public commitment to a new climate finance goal.  

“Rich countries, those most responsible for climate chaos, owe $5 trillion in annual climate debt and reparations. This funding must come as grants-based public financing to help communities that need it the most mitigate and adapt to the impacts of climate change and recover from loss and damage. Anything less will simply be a failure. 

“This is not charity – it is an established obligation under international law. It is the bare minimum needed to shield frontline communities from devastation, allow them to rebuild after disasters pass, and ensure their just transition to a sustainable future. The next few days are a credibility test for these climate negotiations and for COP itself. The time for stalling is over. If rich countries don’t deliver, they will go down in history as having chosen profit over people and complacency over courage.” 

Notes to editors

Rich countries continue to resist calls for climate reparations. Climate activists are demanding the Global North provide at least $5 trillion a year in public finance to the Global South.
 

Contact information

Rachel Schaevitz in Auckland, NZ I rachel.schaevitz@oxfam.org.nz

Jeshua Hope in Suva, Fiji | jhope@oxfampacific.org | +679 7500889 

Global climate activists rally at Baku’s Olympic stadium with bold “Pay Up!” message

Global climate activists today gathered at Baku’s Olympic stadium —the venue for the United Nations climate talks— to urge world leaders to commit to a new, ambitious climate finance deal. The message “Pay Up!” unfolded across the stadium seats, in perfect sight from the COP29 presidency offices located on the opposite side of the arena. 

COP29 has been dubbed the “finance COP” because setting a new goal for global climate finance and laying out a plan for achieving it is the big battleground issue. Activists and civil society organizations call for the new goal to drastically increase from its present $100 billion a year to $5 trillion a year in climate debt and reparations and to protect communities facing the worst impacts of the crisis. 

“As communities in the Global South bear the brunt of climate disasters, it’s past time for the Global North to pay their share —without saddling us with more loans and debt,” said Marinel Ubaldo, a Make Rich Polluters Pay activist and delegate from the Philippines. “Real climate action means financing solutions that uplift, empower, and sustain our communities, free from the chains of fossil fuels and debt traps.”

Global climate policy experts underscore this year’s conference as one of the most critical since COP26 in 2021.Without more ambitious and urgent action, the world could warm by a terrifying 3.1°C by the end of the century.

Activists are also calling to make rich polluters pay through taxes on fossil fuel-intensive industries and the super-rich. Fifty of the world’s richest billionaires emit more carbon pollution through their investments, private jets and yachts in 90 minutes than the average person does in their lifetime.  

“The world needs leaders who are committed to justice and fairness; this starts with honoring climate finance commitments, taxing the super-rich, phasing out fossil fuels, and holding polluters accountable,” Ubaldo added. “The climate crisis doesn’t pause for politics or profit —it demands swift, decisive, and equitable action now.”

Notes to editors

The organisers are a cross-constituency of climate groups, including Oxfam.

Oxfam’s report, “Carbon Inequality Kills,” tracks the emissions from private jets, yachts and polluting investments and details how the super-rich are fueling inequality, hunger and death across the world. 

Contact information

Rachel Schaevitz/ rachel.schaevitz@oxfam.org.nz

 

Oxfam Reaction to the UN State of Food Security and Nutrition Report 2024

In reaction to the UN’s 2024 edition of “The State of Food Security and Nutrition in the World” (SOFI) report, which showed that one out of 11 people in the world, and one out of every five in Africa, may have faced hunger in 2023, Eric Munoz, Oxfam’s food policy expert, said:

“Global hunger remains stuck at shamefully high levels, driven by many reasons that together become convenient excuses for our governments to avoid decisive action. We grow enough food to feed people everywhere in the world and there are solutions to eradicate this terrible scourge.

“Countries facing high levels of hunger tend to be poor, highly-indebted, even exploited. They are also the most vulnerable to climate-related and economic shocks. Nearly 28 million people in East Africa are severely hungry because of worsening floods and droughts, conflict and poverty, while Ethiopia, Kenya, Somalia and South Sudan struggle under a debt burden of $65 billion. They also need $7.49 billion in humanitarian assistance, but donors have to date met less than 20 percent of this. They are being short-changed at every turn.

“The UN today identifies a hole of trillions of dollars needed to end hunger.  Only bold political action can fill this gap. Private financing can be a partial solution, but runs the risk of increasing inequalities and sidelining local communities. More public funding is required especially into smallholder farmers in poorer countries and stronger social protection schemes, wide-scale debt relief, and for rich countries to meet their humanitarian and climate finance pledges.

“The world’s poorest people are paying the highest price of hunger. We need deeper, structural policy and social change to address all of the drivers of hunger, including economic injustice, climate change and conflict. We support Brazil’s efforts, as part of its G20 presidency, to form the new Global Alliance against Hunger and Poverty.”

Contact

Rachel Schaevitz, rachel.schaevitz@oxfam.org.nz  

Notes:

Oxfam reacts to the UN Global Humanitarian Plan for 2022

In reaction to the launch today of the UN Global Humanitarian Plan for 2022, Oxfam Global Programs Director, Lydia Zigomo, said:

“Around the world today, humanitarian need is at its highest-ever level, and what is worse is that the international community has long known all the terrible causes behind it. The people who are most in need of help have been ignored as rich nations have turned inwards in response to the COVID-19 crisis – hording vaccines, continuing their huge carbon emissions, and closing their borders to those seeking safety.

Around 274 million people worldwide, many of whom are women and girls, are experiencing unimaginable suffering because of three lethal Cs – climate change, conflict and COVID-19. They urgently need help. For this reason, the UN is asking for the world’s largest appeal to date, a 17 percent increase compared to last year, and rich nations must step up to avoid a catastrophic failure ahead.

Oxfam calls upon all governments, especially the rich nations who are most responsible for the climate crisis and vaccine inequality, to fulfil their obligations and channel more funding to match the humanitarian need and help immediately to save lives. Governments and the international community must ensure a more coordinated response to help communities rebuild their lives, ensuring that women and local organisations on the frontline of the humanitarian response are better funded.”

 

Notes

  • Oxfam’s Global Program Director is at the meeting and available for interviews
  • The Global Humanitarian Overview (GHO) 2022 launches on 2 December in Geneva. It is the world’s most comprehensive humanitarian assessment. The report will be available on the report website: gho.unocha.org.
  • The UN Global Humanitarian Overview 2022 can be found at https://gho.unocha.org/
  • Photos with captions and UNifeed video
  • The launch is aired live on UN Web TV here.

UN climate talks: NZ backpedalling

It’s been another year of extreme weather and climate change ministers and negotiators are meeting again, this time in Doha. UN climate change talks are set to begin on November 26. Oxfam is calling on governments, including the New Zealand Government, to rise above our narrowly-defined self interest and make real progress towards a fair, ambitious and binding global deal.

[Read more…] about UN climate talks: NZ backpedalling

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Oxfam is a worldwide development organisation that mobilises the power of people against injustice. Oxfam Aotearoa is a registered charity with the New Zealand Charities Register (registration CC24641). Donations are tax refundable.

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