The charity believes $50 billion needs to be spent every year to mitigate the harmful effects of climate change – and that the US, as the biggest culprit when it comes to greenhouse gas emissions, should contribute 44% of this figure.

Oxfam has developed a global warming adaptation financing index, which is essentially a ‘green-aid’ league table based on the responsibility, equity and capability of each country.

According to the index, after the United States, Japan should contribute 13%, Germany 7%, Britain just over 5%, Italy, France and Canada 4-5% and Spain, Australia and Korea 3%.

The aid agency’s announcement comes just over a week before the G8 is due to meet in Germany. And with the US opposing German proposals to limit temperature rise to two degrees this century and cut emissions by 50% from 1990 levels by 2050, Oxfam’s recommendation could lead to further divisions in the international community.

“G8 countries face two obligations as they prepare for this year’s summit in Germany: to stop harming by cutting their emissions to keep global warming below two degrees Celsius and to start helping poor countries to cope,” said Oxfam researcher Kate Raworth. “Developing countries cannot and should not be expected to foot the bill for the impact of rich countries’ emissions.”

Click here for Oxfam website.