The Financial Stability Board (FSB), the G20’s financial regulator, has paused further climate policy work as the United States distances itself from key initiatives.
In an update to its 2021 climate roadmap, released during a G20 finance ministers' meeting in South Africa, the FSB pledged continued coordination and data sharing on climate-related financial risks but signalled a halt in new regulatory initiatives.
“While many members feel there is a need for more work, some members feel that the work completed to date is sufficient,” the FSB said, indicating divisions among member countries.
The U.S. Treasury’s absence from climate-focused groups and Treasury Secretary Scott Bessent’s reported no-show at the G20 meeting underscore Washington’s retreat from multilateral climate finance efforts.
Although the FSB will continue to monitor climate risks and support coordination among member institutions, it will no longer lead significant new supervisory or regulatory work in this area.
Progress made since 2023 includes assessments of transition planning, nature-related financial risk tracking, and improved tools to quantify losses from climate shocks such as wildfires and heatwaves.
The FSB will revisit climate-related topics annually, leaving future initiatives to its evolving work programme.
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Canada is facing its second-worst wildfire season on record, with 7.8 million hectares already burned, and the fires could persist for weeks, according to federal officials.
A research team led by Tsinghua University has unveiled a groundbreaking method for making organs transparent, offering the most detailed view yet of the brain’s inner workings.
Chinese Foreign Minister Wang Yi arrived in New Delhi today for a closely watched round of bilateral discussions with senior Indian leaders, including External Affairs Minister S. Jaishankar and National Security Adviser Ajit Doval.
In Bolivia's first-round presidential election, voters decisively rejected the leftist party that has ruled the country for most of the past two decades, signaling a shift toward more market-friendly policies to address the nation's economic struggles.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
A magnitude 5.2 earthquake struck 56 kilometres east of Gorgan in northern Iran early Sunday morning, according to preliminary seismic data.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Honduras has brought back mask mandates as COVID-19 cases and a new variant surge nationwide.
U.S. President Donald Trump said on Monday he expected Russian President Vladimir Putin to release more than 1,000 Ukrainian prisoners soon, after a trilateral meeting was set up with Ukrainian leader Volodymyr Zelenskyy.
Canada is facing its second-worst wildfire season on record, with 7.8 million hectares already burned, and the fires could persist for weeks, according to federal officials.
A research team led by Tsinghua University has unveiled a groundbreaking method for making organs transparent, offering the most detailed view yet of the brain’s inner workings.
Chinese Foreign Minister Wang Yi arrived in New Delhi today for a closely watched round of bilateral discussions with senior Indian leaders, including External Affairs Minister S. Jaishankar and National Security Adviser Ajit Doval.
In Bolivia's first-round presidential election, voters decisively rejected the leftist party that has ruled the country for most of the past two decades, signaling a shift toward more market-friendly policies to address the nation's economic struggles.
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