Eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity, according to a new report published by Oxfam today to mark the annual meeting of political and business leaders in Davos. Oxfam’s report, ‘An economy for the 99 percent’, shows that the gap between rich and poor is far greater than had been feared. It details how big business and the super-rich are fuelling the inequality crisis by dodging taxes, driving down wages and using their power to influence politics. It calls for a fundamental change in the way we manage our economies so that they work for all people, and not just a fortunate few.
Nine of the “Big 10” global food and beverage companies have improved their ratings by at least 10 percent in three years since Oxfam began keeping score through its “Behind the Brands” scorecard. Oxfam highlighted the major strides most of them have made to improve their policies on land rights, agricultural greenhouse gas emissions and gender equality in company supply chains. Kellogg (up 30 percent) and Unilever (up 26 percent) made the most progress across all themes since the campaign began.