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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U.S. President Donald Trump revealed on Wednesday that an announcement regarding the world leaders who will serve on the Gaza Board of Peace is expect...
The United States has signed significant health cooperation agreements with Uganda and Lesotho, further strengthening bilateral relations and advancin...
Ukraine has agreed on key elements of a post-war reconstruction plan in talks with Jared Kushner and other top U.S. officials, President Volodymyr Zel...
Ukrainian President Volodymyr Zelenskyy is facing growing international pressure to hold elections, with voices from both the United States and Europe...
Ukrainian President Volodymyr Zelenskyy is facing growing international pressure to hold elections, with voices from both the United States and Europe highlighting the issue, even as the country remains in the midst of a protracted conflict with Russia
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Iran and Saudi Arabia reiterated their commitment to enhance ties following a joint meeting with China in Tehran on Tuesday to follow up on implementation of the 2023 Beijing Agreement which resulted in resumption of their diplomatic relations after eight years.
The world’s leading minds and voices will be honoured on Wednesday, 10 December, the anniversary of Alfred Nobel’s death, as Nobel Prizes are presented in Stockholm and Oslo.
In a dramatic Champions League clash at Baku’s Tofiq Bahramov Stadium, Qarabağ grabbed an early lead, but Ajax staged a thrilling comeback to win 4-2.
Fighting between Thailand and Cambodia entered its fourth day on Thursday as both sides waited for a promised telephone call from U.S. President Donald Trump, who says he believes he can again end the conflict between the two Southeast Asian nations.
U.S. President Donald Trump revealed on Wednesday that an announcement regarding the world leaders who will serve on the Gaza Board of Peace is expected early next year.
The United States has signed significant health cooperation agreements with Uganda and Lesotho, further strengthening bilateral relations and advancing global health initiatives, the U.S. State Department announced on Wednesday.
Ukraine has agreed on key elements of a post-war reconstruction plan in talks with Jared Kushner and other top U.S. officials, President Volodymyr Zelenskyy said on Wednesday, during ongoing efforts to reach a settlement in the nearly four-year war.
Ukrainian President Volodymyr Zelenskyy is facing growing international pressure to hold elections, with voices from both the United States and Europe highlighting the issue, even as the country remains in the midst of a protracted conflict with Russia
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