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The UK today banned 'third world debt profiteering' by so-called vulture funds. The Debt Relief (Developing Countries) Bill is the world’s first law to restrict the ability of vulture funds to sue some of the world’s poorest countries for full repayment of debts that they have bought up cheaply.

This December 7-18 negotiations will take place in Copenhagen in an attempt to reach an international agreement to tackle climate change.

 The World Development Movement has today warned that the UK’s new drive to provide aid to Somalia is looking like a ‘cynical’ attempt to grab its oil, rather than being aimed at ensuring a better future for people in one of the world’s poorest countries.

Euro-MPs yesterday voted overwhelmingly in favour of an EU "Robin Hood tax" on banks to help fund low-carbon development programmes for poor countries.

Last month the campaign for a global tax on banks' financial transactions was launched as a way of raising money to fight poverty, tackle climate change and boost public services. The Robin Hood tax is a way to re-balance the books after the economic damage wreaked by financial excesses.

Protests are underway across the UK targeting the RBS AGM over its investments in toxic projects and companies.

The UK government has come under fire for delivering 75 per cent of its climate finance for developing countries as loans, which WDM warns threatens to reverse decades of hard-fought progress on debt relief.

The budget has been widely portrayed in the media as a ‘phoney’ budget or a ‘ballot box’ budget because of the limited amount of 'real' economic policy it contained. But Alistair Darling’s plan for a Green Investment Bank is a huge step forward in our Climate Justice and Clean Up the Banks campaigns. This move shows the government’s recognition that to achieve global climate justice the UK needs to invest urgently in renewable energy and ditch dirty power which is causing climate change that’s hitting the poorest people in the world.

UK consumers are paying 3.7 per cent more for food than they did a year ago, leading to calls for the Chancellor George Osborne to tackle financial speculation on food prices. The rise has added more than £100 to the average household’s annual grocery bill.

Inflation figures released today reveal that food prices rose by 1.2 per cent from January to February this year, contributing to the 3.7 per cent annual rise, which is well above the government’s 2 per cent target for overall inflation. [1]

India has rejected plans by UK-based Vedanta Resources to mine bauxite from indigenous lands in Orissa, India.  The ruling has been described as a 'landmark victory' for indigenous rights.

We met this morning with RBS executives, including Sir Philip Hampton, RBS Group Chairman, after yesterday's protests challenging RBS’ investments in controversial projects, such as tar sands.  This meeting represented a significant concession on the part of RBS who had previously resisted campaigners’ requests for high level meetings.

WDM objects to Ayrshire Power's planning application to build a new coal power station at Hunterston in Scotland. Scotland's climate debt to developing countries will only worsen.

Today saw the launch of the 10:10 campaign; for individuals and businesses in the UK to reduce their emissions by 10 per cent in 2010. This is matched by a demand for Ed Miliband to commit the UK government to a target of cutting emissions by as close to 10 per cent as possible in the same year.

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