The richest 1% have exhausted their annual carbon budget – the amount of CO2 that can be emitted while staying within 1.5 degrees of warming - only ten days into the year, according to new analysis from Oxfam. The richest 0.1% already used up their carbon limit on the 3rd January.
New research by Oxfam and the CARE Climate Justice Centre finds developing countries are now paying more back to wealthy nations for climate finance loans than they receive—for every USD 5 they receive, they are paying USD 7 back, and 65 percent of funding is delivered in the form of loans.
Aid cuts could cost millions of lives and leave girls, boys, women and men without access to enough food, water, education, health treatment.
G7 countries are making deliberate and deadly choices by cutting life-saving aid, enabling atrocities, and reneging on their international commitments