Watch out! The loan sharks are about…

As the latest round of United Nations climate talks got underway in Bonn, Germany, yesterday, delegates were surprised to find a loan shark (as desperate and dodgy as you can imagine) trying to give climate finance loans to developing countries.

A group of Oxfam activists surrounded the shark with loud shouts of protest, as part of a stunt organized by Oxfam, to show outrage at plans to offer 'climate adaptation loans’ to poor countries -- instead of offering grants.

Developing countries need financial support to deal with the impact of climate change in order to be able to invest in climate change adaptation measures.  This money would help to pay for things like dams to protect against rising sea levels, hurricane-early-warning systems, and rain-water-harvesting systems.

Developing countries are hit first and worse by climate change and they should not have to pay the price, especially as they have not caused the problem. Rich industrial states have to take responsibility for their massive greenhouse gas emissions.

As the Bonn climate talks begin, it’s time to pick up the pieces after Copenhagen. It’s time to give a fair share of grants to developing countries. And it’s time to cut down emissions -- in the long term, and in a sustainable way.

Protests of “Save lives, NO to climate loans!” were chanted in English, French, German, Spanish and even Hindi, and Oxfam wasn’t the only player on the ground. Partner organizations Germanwatch, BUND/Friends of the Earth were there as well. What we all have in common is the conviction that we play part in bringing about change and we share the hope that a fair international climate deal can come true in the long run.

Act now

Join our Climate Change petition. Oxfam is working with a global alliance that is pushing for a climate deal that is ambitious, fair and binding.

Read more

Download the report: Climate Finance Post-Copenhagen: The $100 billion questions

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