Oxfam reports that the richest 1% globally have increased their wealth by over $33.9 trillion since 2015, with 3,000 billionaires contributing $6.5 trillion of that increase. The report claims that international efforts to meet the Sustainable Development Goals have stalled, resulting in growing global inequality and stagnating poverty reduction efforts.
Amitabh Behar, Executive Director of Oxfam International, stated that trillions exist to address global issues but are locked in private accounts of the wealthy. Oxfam urges world leaders at the upcoming conference in Seville to reject the ‘Wall Street Consensus’ and adopt a public-first model for development.
