The analysis comes ahead of informal climate negotiations between world leaders at the UN General Assembly later today – a critical moment for putting the goal back on track before the COP26 climate summit in Glasgow in November.

(The Organization for Economic Cooperation and Development) on friday released new data showing industrialized nations have committed only about 80 billion dollars in climate finance in 2019.

Based on recent pledges, Oxfam projects that rich governments will fail to achieve its $100 billion (€72.5 billion) goal, reaching a mere $93 billion (€67 billion) to $95 billion (€69 billion) annually by 2025, more than five years after reaching its goal.

That means that, collectively over the six-year target period, the country’s climate-vulnerable population will lose between $68 billion and $75 billion.

An estimated five million people die from hot and cold temperatures each year, accounting for over nine percent of deaths around the world, which are expected to rise due to climate change.

Climate change may cause economic losses which are twice as great as the pandemic, but it is not dealt with with with equal urgency.

At least 50% of climate financing should be used for adaptation.

“Poor families in rural Bangladesh spend almost US $2 billion annually on preventing climate-related catastrophes or repairing the damage they generate-twice what the Government gets, and more than twelve times more than Bangladesh receives from multilateral international climate finance.

Oxfam bookshops

Oxfam is the largest retailer of second hand books in Europe, selling around 12 million per year. Most of Oxfam’s 750 charity shops around the UK sell books, (wikipedia)

READ MORE:  International Forests Day 2022: Date, theme, history and importance

European Economic Area

The European Economic Area was established via the Agreement on the European Economic Area, (wikipedia)

Paris Agreement

The Paris Agreement , often referred to as the Paris Accords or the Paris Climate Accords, is an international treaty on climate change, adopted in 2015. It covers climate change mitigation, (wikipedia)


The Organisation for Economic Co-operation and Development is an intergovernmental economic organisation with 38 member countries, founded in 1961 to stimulate economic progress and world trade. (wikipedia)

United Nations General Assembly

The United Nations General Assembly is one of the six principal organs of the United Nations , serving as the main deliberative, policymaking, and representative organ of the UN. Its powers, (wikipedia)

Oxfam Australia

Oxfam Australia is an Australian, independent, not-for-profit, secular, community-based aid and development organization it has 4.6 million people working all around the world, (wikipedia)