climate change

Ministers arriving in Katowice for the UN Climate Change Conference, COP24, will need extreme courage and conviction to make life-saving decisions if humanity is to be saved from the worst impacts of climate change, Oxfam and CARE International said today.

The World Bank's $200bn climate investment announcement at the UN Climate Conference COP24 is welcome, but must be new money that can help tackle poverty.

In “Powering the Transition,” Oxfam details how together, the World Bank, the Asian Development Bank, and the Asian Infrastructure Investment Bank are investing almost $5 billion in fossil fuels in the 10 Asian countries that belong to the Climate Vulnerable Forum.

This paper examines current and planned IFI energy sector support in Asian climate-vulnerable countries. It shows how this is not yet fit for purpose, and recommends how IFIs can intervene at this critical juncture to give governments the confidence to accelerate the transition to renewable energy for all.

“Climate change has set our planet on fire, millions are already feeling the impacts, and the IPCC just showed that things can get much worse," said Raijeli Nicole, regional director for Oxfam in the Pacific.

“Oxfam welcomes this new commitment; bringing down the price of storage is an important piece in making energy more accessible to poor communities and helps establish clean energy grids that low-carbon economies need," said Sasanka Thilakasiri, Oxfam’s energy policy lead.

“This much is clear: the actions and announcements put forward at the summit give a glimpse of what is possible to address climate change when we come together," said senior climate change policy advisor Thomas Damassa.

“Oxfam is dismayed at this third consecutive year of rising hunger. We’re back to where we were a decade ago. As ever, hunger is caused by human actions that drive poverty and inequality, conflict and war, poor governance, wastage, and worsening climate change," said Oxfam International’s executive director Winnie Byanyima in response..

Europeans may still be forced to buy biofuels made from food crops until 2030, as a result of the deal struck by EU member states and the European Parliament this morning on the Renewable Energy Directive (RED II), Oxfam said.

“The growing split among G7 leaders is bad news for millions of women and men around the world struggling for a better life," said Oxfam International executive director, Winnie Byanyima.