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Less than 3% of G7 military spending could help end global hunger and solve Global South debt crisis
With funds equivalent to just 2.9 percent ($35.7 billion) of their combined annual military spending, Group of Seven (G7) countries could help end world hunger and solve the debt crisis in the Global South, reveals new Oxfam analysis ahead of the G7 Summit in Borgo Egnazia, Italy.
Eradicating world hunger in all its forms would require $31.7 billion more from donors, and Oxfam estimates that the G7’s fair share of debt relief efforts for the world’s poorest countries is equivalent to $4 billion, for a total of $35.7 billion.
“Governments are finding their pockets run deep to fund war today, but when it comes to stopping starvation they are suddenly broke,” said Oxfam International’s Head of Inequality Policy Max Lawson.
“We’re talking about a small commitment with the potential for huge impact. Imagine a world where no one goes to bed hungry and where countries in the Global South can put money into public schools and hospitals instead of debt interest payments. The G7 not only has the means, but the moral and strategic imperative to make this happen,” said Lawson.
Hunger is rising rapidly in many places, including Somalia, Guatemala, Yemen and Kenya, with devastating consequences. Over 281 million people are now grappling with severe hunger and malnutrition. Gaza is facing one of the most severe hunger crises in the world, caused by Israel’s ongoing onslaught and siege of the enclave. People are already in extreme suffering and dying of starvation and treatable diseases. These deaths will increase at a faster rate unless a ceasefire is forged and full humanitarian access and safe distribution are allowed.
Oxfam is calling on the G7 to reiterate its demand on Israel to implement the recent ruling of the International Court of Justice (ICJ) to halt military operations in Rafah and allow the access of humanitarian aid into Gaza. The G7 must also ensure their economic policies and agreements with Israel are not financially enabling potential genocide in Gaza. Under the Genocide Convention and international humanitarian law, states are obliged to take all political, economic, and military countermeasures within their power to prevent genocide. This includes immediately halting exports of arms and munitions that might risk use in war crimes or facilitate potential genocide. It goes beyond complicity; states are obligated to act to prevent genocide.
“The G7’s collective failure has basically given the Israeli military a free pass to commit terrible atrocities against Palestinian people. G7 leaders must do everything in their power to make sure there is an immediate and permanent ceasefire to stop the death and destruction. They also need to ensure full and permanent access of humanitarian aid through all ground crossings, and the release of all hostages and unlawfully detained Palestinian prisoners,” said Lawson.
"The G7 must also deploy all diplomatic efforts to stop further escalation in Lebanon and Yemen —should regional instability escalate into all-out war, the devastation will spare no one,” said Lawson.
Oxfam’s analysis also shows that despite G7 countries owing low- and middle-income countries $15 trillion in unpaid aid and funding for climate action, they are demanding that Global South pay $291 million a day in debt repayments and interests.
In May, Pope Francis said cancelling the debts of countries unable to repay them is “a matter of justice”, and outlined his vision for the Catholic Church's 2025 Jubilee. Low- and middle-income countries are now spending nearly a third of their budgets on servicing debts ―as much as on public education, healthcare and social protection combined.
The G7 summit comes on the heels of Brazil's historic proposal to tax the super-rich globally under their G20 Presidency. With the inequality gap widening, there has been mounting pressure on world leaders to increase taxes on the richest people and corporations. G7 finance ministers last month pledged to “work constructively with the Brazilian G20 Presidency,” and “to increase our efforts aimed at progressive and fair taxation of individuals.”
Oxfam estimates that higher and fairer taxes on millionaires and billionaires in G7 countries could raise over $1 trillion a year. The G7 is home to 1,211 billionaires (about 45 percent of the world’s billionaires) with a combined wealth of $8 trillion. Their wealth has grown in real terms by 74 percent over the past decade.
"Families are struggling to get food on the table, our tax systems are making the rich richer, and the solution is glaringly obvious. The G7 needs to commit to global efforts, championed by the Brazilian G20 Presidency, to increase the tax paid by billionaires and the super-rich,” said Lawson.Oxfam International is a global movement of people who are fighting inequality to end poverty and injustice. We are working across regions in about 70 countries, with thousands of partners, and allies, supporting communities to build better lives for themselves, grow resilience and protect lives and livelihoods also in times of crisis.
Iranian Snap Elections Head to Runoff After Reformist Pezeshkian Takes Narrow Lead
A total of 24,735,185 people voted, representing a turnout of around 40%—the lowest turnout in an Iranian election since the 1979 revolution.
Reformist legislator Masoud Pezeshkian and conservative former nuclear negotiator Saeed Jalili will face off in a second round of voting after neither candidate secured a majority of the votes in Iran's election Friday.
Surprise elections in Iran were called after conservative President Ebrahim Raisi died in a helicopter crash on May 19, opening what one expert called a "void in the Islamic Republic's leadership."
"None of the candidates could garner the absolute majority of the votes, therefore, the first and second contenders who got the most votes will be referred to the Guardian Council," Interior Ministry spokesperson Mohsen Eslami announced on Saturday.
"Pezeshkian appears to have done well enough to turn out a core base of support that gives him a plausible path to victory, but he will likely need to secure support from Iranians who opted to stay home yesterday in order to triumph."
Pezeshkian and Jalili will now advance to the runoff election on July 5.
After Friday's voting, Pezeshkian took a slight lead with 10.45 million votes over Jalili's 9.47 million, according to an initial tally reported by The Guardian. Both of them edged out conservative parliament speaker Mohammad Bagher Ghalibaf with 3.38 million votes and former Justice Minister Mostafa Pourmohammadi with 206,000.
A total of 24,735,185 people voted, representing a turnout of around 40%. That is the lowest turnout in an Iranian election since the 1979 revolution, according to Middle East Eye.
"This demonstrates that a majority of the Iranian public remains disaffected from participation in the Islamic Republic's restricted elections, which are neither free nor fair," the National Iranian American Council (NIAC) wrote in a statement on Saturday. "The Iranian people have suffered manifold outrages from their government and circumstances, including the brutal crackdown on popular protests in 2022 and earlier and the failure of past moderate and reformist figures to deliver lasting change."
"As a result," NIAC continued, "a majority appear to have concluded for now that they would rather stay home than risk legitimizing a government they do not believe in. The inclusion of a reformist on the ticket in Masoud Pezeshkian may have boosted turnout in some quarters, but did little overall to arrest the slide in turnout in the first round."
Reform leader Abbas Akhoundi said: "About 60% of voters did not participate in the elections. Their message was clear. They object to the institutionalized discrimination in the existing governance and do not accept that they are second-class citizens and that a minority impose their will on the majority of Iranian society as first-class citizens."
The outcome on July 5 could depend on whether or not turnout increases.
NIAC observed that Pezeshkian's lead was surprising, given that low-turnout elections usually favor more conservative candidates.
"Typically, reformists have only triumphed when turnout reaches near record highs with a vast majority of public participation," the group wrote. "Pezeshkian appears to have done well enough to turn out a core base of support that gives him a plausible path to victory, but he will likely need to secure support from Iranians who opted to stay home yesterday in order to triumph."
Because power in Iran is ultimately held by Supreme Leader Ayatollah Ali Khamenei, the winner of the presidential election is unlikely to substantially shift policies such as Iran's nuclear program or its support for militant groups in the Middle East, according to Reuters.
However, NIAC said the difference between the two candidates was "about as wide a difference as the Islamic Republic's restricted elections would allow."
Pezeshkian, a former health minister who represents Tabriz in Parliament, advocates for economic and social reform. He expressed regret over the death of Mahsa Amini after she was arrested for allegedly wearing her hijab incorrectly—an event that sparked nationwide protests in 2022—and also criticized the Raisi government for lack of transparency during the protests.
"We will respect the hijab law, but there should never be any intrusive or inhumane behavior toward women," Pezeshkian said after voting on Friday.
In foreign policy, he supports direct diplomacy with the U.S. and has expressed interest in renegotiating the 2015 Iran nuclear deal or Joint Comprehensive Plan of Action (JCPOA).
Jalili, who represents Khamenei on the Supreme National Security Council, supports even stricter hijab laws, advocates for internet restrictions, and opposes the JCPOA or any negotiations with Western countries.
Because Pezeshkian was the only reformist in the first round of elections, he may struggle in a second round unless turnout increases, as supporters of the other conservative candidates would vote for Jalili, according to The Guardian.
However, a reformist newspaper editor told the Middle East Eye that many people who had sat out the first round of elections may vote in the second round to prevent a win by Jalili. The editor also predicted that many people who voted for Ghalibaf in the first round would back Pezeshkian in the second.
"At least 40% of his supporters, who are moderate and pragmatic conservatives, would vote for Pezeshkian as they fear Jalili's domestic policies and dead-end foreign policy," the editor said.
Ahead of the election, Trita Parsi of the Quincy Institute for Responsible Statecraft predicted that voters would ultimately decide based on a desire to improve "their increasingly dire economic situation in the medium term."
"They are looking for the candidate who will most likely be able to reduce the price of meat," Parsi wrote.
He did predict the winner could make a difference in Iran-U.S. relations, but only up to a point.
"Expectations for an opening between the U.S. and Iran should be kept low, even if Pezeshkian wins," Parsi concluded. "The problems between the U.S. and Iran are deeper today than they were in 2013, the trust gap is wider, reversing Iran's nuclear advances is going to be more difficult and politically more costly. On top of all that, Iran has more options in today's increasingly multipolar world."
68 'Summer of Heat' Activists Arrested in NYC Protesting Citgroup's Fossil Fuel Financing
"Citi's business model is frying our planet," said one campaigner.
Scores of activists were arrested Friday during a protest outside Citigroup's New York City headquarters, where demonstrators condemned what organizers called the megabank's "racist investments devastating Black and brown communities" and fueling the worsening climate emergency.
Around 1,000 people including environmental leaders from the Gulf Coast of Texas and Louisiana gathered at Zuccotti Park in Lower Manhattan's Financial District, where they rallied before marching to "demand that Wall Street stop funding the fossil fuel projects causing environmental devastation in mostly Black and brown communities in the Gulf South and across the globe."
The march ended at Citigroup's headquarters on the west side of Lower Manhattan, where organizers from New York Communities for Change said 68 people were arrested. The group said a total of 259 activists have been arrested during ongoing Summer of Heat on Wall Street protests, which it organized along with Stop the Money Pipeline, Climate Defenders, and Planet Over Profit.
"On Monday, climate activists from the Gulf South and allies held a roving speak out in front of financial institutions backing the fossil fuel industry, including KKR, BlackRock, and Bank of America," New York Communities for Change said. "On Wednesday, protesters held a civil disobedience action in front of the insurance conglomerate Chubb, which insures petrochemical projects destroying the climate in the Gulf South and around the globe."
One of the protest's organizers, Roishetta Ozane—who founded the Vessel Project of Louisiana—said that "projects that kill our communities like Freeport LNG (liquefied natural gas), Cameron LNG, Corpus Christi LNG, and others would not exist without the backing of financial institutions like Citigroup."
"Money made from them is blood money," Ozane added. "Since they destroy our homes, we're coming to pay them a visit. We will break this cycle of violence and exploitation now because later is too late. We want Citigroup to stop funding fossil fuels and to stop hurting our communities and our families."
As Stop the Money Pipeline coordinator Alec Connon explained in an opinion piece published earlier this month by Common Dreams:
Since the adoption of the Paris agreement in 2015, Citi has provided $204.46 billion in financing to the company's most rapidly developing new coal, oil, and gas fields. Remarkably, Citi has provided more money to those oil and gas companies than even JPMorgan Chase―the bank that climate activists like to call the 'Doomsday Bank.'
To be clear, I'm talking here only about the financing Citi has provided for companies developing new oil and gas reserves, not merely investing in infrastructure to keep the oil pumping from existing reserves. When we take into account financing to all fossil fuel companies, Citi has provided a little shy of $400 billion to coal, oil, and gas companies since 2015.
Citigroup contends that it is "supporting the transition to a low-carbon economy through our net zero commitments and our $1 trillion sustainable finance goal," and that its "approach reflects the need to transition while also continuing to meet global energy needs."
However, Climate Defenders organizing director Marlena Fontes countered that "Citi's business model is frying our planet."
"Every credible climate scientist says that we can't afford to put one more penny into fossil fuels, but Citi is the number one funder of fossil fuel expansion in the world," Fontes added. "Until Citi stops funding fossil fuels, they can expect resistance from everyday people like us who want our children to be able to play outside without coughing on wildfire smoke or getting sick from deadly heatwaves."
GOP Attack on Biodiversity, Climate 'Sticks Finger in the Eye of American People'
Critics of a House appropriations bill that guts environmental agencies warn it's a sign of what the Republicans will do if they retake the Senate and the presidency next year.
Democrats and watchdog groups reacted with outrage on Friday as a U.S. House environmental subcommittee led by Republicans approved an appropriations bill that would reduce funding for two federal agencies and limit their ability to protect the environment.
The House Appropriations Interior, Environment, and Related Agencies Subcommittee voted to advance a bill to weaken the regulatory capacities of the Department of the Interior and the Environmental Protection Agency (EPA), cutting funding for conservation, climate action, national parks, and environmental justice initiatives.
"This bill sticks a finger in the eye of the American people who care deeply about clean air, climate change, endangered species, and responsible use of public lands," said Greta Anderson, deputy director of Western Watersheds Project. "It's a nasty wishlist to defund the priorities of protecting a livable future."
The fiscal year 2025 bill proposes a 20% cut to the EPA's annual budget, from $9.2 billion to $7.4 billion, including a $749 million cut to state and tribal assistance grants. It also proposes reductions to many Interior agency budgets, including a $210 million cut to the National Park Service and a $144 million cut to the U.S. Fish and Wildlife Service.
Taking aim at the government's ability to regulate industry, most of the Republicans' spending allocations are below fiscal year 2024 and almost all of them are below the amount requested by the Biden administration.
Rep. Chellie Pingree (D-Maine), the subcommittee's ranking Democrat, said in a statement that the proposed EPA cut was "irresponsible" and that she was "greatly disappointed and frustrated" by the bill, which "completely disregards the reality of a warming planet and ignores the need for us to do more, not less."
Pingree's Democratic colleague, Rep. Rosa DeLauro (D-Conn.), the ranking member of the full appropriations committee, agreed.
The bill "promotes dirty energy, taking the side of fossil fuel companies and those who deny the scientific reality rather than address the escalating risk to our economy and national security presented by the changing climate and growing number of extreme weather events," DeLauro said in the statement.
Critics of the bill also objected to the large number of "poison-pill" riders that seek to undo Biden administration rules and undermine the Endangered Species Act by naming specific animals for which listing can't be funded. Per a Trump-era Interior rule, the legislation also delists most gray wolf populations from the ESA.
"This proposal is a hatchet job of disastrous proportion that in an unprecedented scale, targets our nation's most imperiled species and the law saving them from extinction," Robert Dewey, vice president of government relations at Defenders of Wildlife, said in a statement.
The Republicans' bill includes proposed reductions to funding for clean water infrastructure projects, which Food and Water Watch (FWW) said was a step in the wrong direction—water and sewer systems need huge infusions of money just to meet current water quality standards.
"The proposed cuts would leave many with unsafe water and exacerbate the nation’s water affordability crisis, adding more pressure on household water bills at a time when families are already grappling with soaring costs for essential services," Mary Grant, a FWW campaign director, said in a statement, calling safe water "non-negotiable."
Grant said that to safeguard Americans' clean water from "foolishly political annual appropriations battles," Congress should pass the Water Affordability, Transparency, Equity, And Reliability (WATER) Act—a call she also made last year, when the same subcommittee advanced a similar bill.
The full appropriations committee will consider the bill on July 9. If the bill passes through the committee and then the full chamber, as last year's version did, it's unlikely to make headway in the Democratic-controlled U.S. Senate. However, critics of the bill warned that it's a sign of what the Republicans will do if they retake the Senate and the presidency.
Earlier this month, presumptive Republican nominee Donald Trump said that he plans to gut federal agencies dealing with climate, such as the Interior Department. A union of EPA workers rebuked Trump for the remarks.