The international humanitarian group, Oxfam criticizes wealthy nations for artificially boosting global climate funding.
World Bank headquarters seen reflected in a window of the International Monetary Fund headquarters in Washington, D.C., on October 8, 2022.With global finance leaders set to gather in Washington, D.C. this week for the spring meetings of the World Bank and International Monetary Fund, Oxfam is warning rich countries against using accounting gimmicks to artificially inflate their global climate funding commitments.
compounded the financial struggles“But despite the dire economic situation facing the poorest countries today, and much political discussion of the trillions needed to tackle poverty, inequality, and climate change, there is no indication that rich countries are willing to pay the true price of a fair and sustainable future,” Oxfam said Monday. “In fact, there is a risk that rich-country finance ministers meeting in Washington this week will celebrate progress on reforms that deliver just 0.
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