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.
U.S. President Donald Trump said on Monday he had paused a planned attack against Iran after Tehran sent a peac...
U.S. President Donald Trump said on Monday that he had paused a planned attack on Iran after Tehran sent a peace proposal to Washington. He said th...
Three people have been killed in a shooting at the Islamic Centre of San Diego, including a security guard while the two suspects were later found ...
At least four people have been killed in protests across Kenya over sharp fuel price rises, as a nationwide transport strike brought parts of the c...
Pakistan has deployed around 8,000 troops, fighter jets and air defence systems to Saudi Arabia under a mutual defence agreement, according to secu...
U.S. President Donald Trump said on Monday he had paused a planned attack against Iran after Tehran sent a peace proposal to Washington, and that there was now a "very good chance" of reaching a deal limiting Iran's nuclear programme.
Pakistan has deployed around 8,000 troops, fighter jets and air defence systems to Saudi Arabia under a mutual defence agreement, according to security officials and government sources familiar with the arrangement.
Global leaders gathered in Baku this week for the 13th session of the World Urban Forum, where heads of state and senior officials warned that rapid urban growth is placing increasing pressure on housing, infrastructure and climate resilience.
The thirteenth session of the World Urban Forum (WUF13) has opened in Baku, bringing together governments, international organisations, city leaders and civil society to address mounting global urban challenges.
Bulgaria has won the Eurovision Song Contest for the first time, taking victory in a final overshadowed by a boycott over Israel’s participation and the war in Gaza.
The World Urban Forum (WUF13) continues in Baku, Azerbaijan on 18 May, addressing the global housing crisis. The day’s agenda includes the official opening press conference, the WUF13 Urban Expo opening and a ministerial dialogue on the Nairobi Declaration to advance Africa's urban agenda.
U.S. President Donald Trump said on Monday he had paused a planned attack on Iran after appeals from the leaders of Qatar, Saudi Arabia and the United Arab Emirates, allowing negotiations to continue over a possible deal to end the conflict.
A 5.2 magnitude earthquake struck China’s Guangxi region early on Monday, killing two people and forcing more than 7,000 residents in Liuzhou to evacuate as rescue efforts continued.
The World Health Organization (WHO) has declared an Ebola outbreak in the Democratic Republic of Congo (DRC) and Uganda a Public Health Emergency of International Concern (PHEIC), warning that the situation poses a significant risk of cross-border spread in Central Africa.
Three people have been killed in a shooting at the Islamic Centre of San Diego, including a security guard while the two suspects were later found dead after the attack, authorities have confirmed.
At least four people have been killed in protests across Kenya over sharp fuel price rises, as a nationwide transport strike brought parts of the country to a standstill.
Gunmen killed at least 10 people, including women and children, in an attack on a rural community in Nigeria’s northwestern Katsina State, residents said.
Russian President Vladimir Putin’s upcoming visit to China is expected to focus on strengthening bilateral ties, particularly through expanded trade and economic cooperation.
Israeli military strikes across Gaza killed at least eight Palestinians on Sunday, according to local health officials, as the Israel Defense Forces intensified operations targeting Hamas commanders and infrastructure across the enclave.
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