Press office & press releases

European banks, pension funds and insurance companies are increasing global hunger and poverty by speculating on food prices and financing land grabs in poorer countries, according to a new report released today (January 12) by Friends of the Earth Europe and the World Development Movement. [1]

The World Development Movement has slammed the outcome of the UN climate talks in Durban as a ‘spectacular failure’ that will condemn the world’s poorest people to hunger, poverty and ultimately, death.

Murray Worthy, World Development Movement policy officer, said: “Developed countries have behaved shamefully, blocking meaningful progress on tackling climate change. They have refused to acknowledge their historical responsibility for the crisis, either by agreeing to reduce their emissions or by providing finance to help developing countries deal with climate change. 

A new climate change finance package, announced today by Chris Huhne, will push up developing countries’ debt, say campaigners from the World Development Movement.

At least £235 million of the money announced today by UK Energy and Climate Change Secretary Chris Huhne will be in the form of loans rather than grants, going through World Bank climate lending programmes that have already pushed some of the world’s poorest countries deeper into debt. 

A report launched by the World Development Movement reveals shocking bullying and bribery tactics employed by countries including the UK and the US to try to kill the Kyoto Protocol, as negotiators from the world’s governments gather today in Durban, South Africa, for the start of the 2011 UN climate talks.