The gap between the super-rich and the rest of the world is widening, as wealth continues to be owned by a small minority, according to a new report by global non-profit, Oxfam. Over 2,000 of the world's billionaires have more wealth than nearly 60 per cent of the planet’s population.
The contrast is even sharper for developing countries such as India, where some 74% of the money generated goes to the richest 10%, the charity says.
So what's the best way to greater equality and faster growth? How can we raise the living standards of the poor, especially the poorest 40%? And how can more women get economic benefit for their unpaid care work?
Presenter: Devina Gupta
Contributors: Manav Subodh, co-founder, 1M1B (1 Million for 1 Billion); Ranu Bhogal, director of policy, research & campaigns, Oxfam India; Naghma Mulla, chief operating officer, EdelGive Foundation
Oxfam slams BP's 'shiny promises'
Back to BP and Oxfam's climate policy advisor Kiri Hanks is not at all convinced by new boss Bernard Looney's "transition to net zero".
"BP appears to be using shiny net zero promises as a cover to continue extracting oil and gas," she warned, adding:
If we are to prevent a climate catastrophe, companies like BP must commit to keeping fossil fuels in the ground and invest meaningfully in low-carbon technologies. BP is vague on the details of its plan, but it should not rely on using carbon offsetting schemes as a licence to continue polluting. Poorer countries should not be bribed to grow forests instead of food to enable business as usual in rich nations.