HISTORIC MOMENT, HISTORIC GATHERING, HISTORIC COP OUT

The 'climate deal' announced in Copenhagen today is a triumph of spin over substance said Oxfam International.

The deal provides no confidence that catastrophic climate change will
be averted or that poor countries will be given the money they need to
adapt as temperatures rise. Leaders have also put off agreeing a
legally binding deal until the end of 2010.

Oxfam said this is not a done deal - any agreement must be endorsed by
all countries - and demanded that it be a floor not a ceiling on action.

Jeremy Hobbs, Executive Director of Oxfam International said:

"This agreement barely papers over the huge differences between countries which have plagued these talks for two years.

"The deal is a triumph of spin over substance. It recognizes the need
to keep warming below 2 degrees but does not commit to do so. It kicks
back the big decisions on emissions cuts and fudges the issue of
climate cash.

"Millions of people around the world do not want to see their hopes for
a fair, binding and ambitious deal die in Copenhagen. Leaders need to
get back round the table in early 2010 and take the hard decisions they
copped out of in Copenhagen."

THE DEAL

US$100 billion a year in climate cash for poor countries

This is an aspirational goal not a commitment - poor countries will
have no confidence that they will receive the money they need to reduce
their emissions and adapt to a changing climate.

US$100 billion is only half the money needed. The shortfall could mean
that health workers in South Asia and Sub Saharan Africa will not get
the US$1.5 billion they need each year to prevent climate induced
deaths from malaria and diarrhoea.

There are no assurances that the US$100 billion will be additional to
existing aid commitments. This means aid for education and health care
could be diverted to pay for flood defenses.

The US$100 billion will not all be public money. Unless climate cash
comes from public sources, there are no guarantees that it will reach
the right people, in the right places, at the right time.

SPIN: Global temperature rises will be kept below 2 degrees centigrade

REALITY

The absence of any emissions reductions targets means there is no
guarantee that warming will be kept below 2 degrees centigrade. Climate
science is clear on the need for rich countries to cut emissions by 40
percent below 1990 levels by 2020. Specific targets are essential.

Shorbanu Khatun, a climate migrant at the summit with Oxfam said: "I
came all the way from a displaced persons camp on the flooded coast of
Bangladesh to see justice done for the 45,000 people made homeless by
cyclone Aila. How do I tell them their misery has fallen on deaf ears?"