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.
The United States and Iran have significantly escalated their conflict, exchanging heavy missile and drone strikes across the Gulf region. Iran claim...
The UK has announced a fresh round of sanctions against individuals and organisations it says are responsible for cyber attacks and hybrid operations ...
Tajikistan will reduce electricity exports and increase water reserves ahead of winter as the government seeks to improve domestic power supplies afte...
The United States and Iran have significantly escalated their conflict, exchanging heavy missile and drone strikes across the Gulf region. Iran claims it has once again closed the Strait of Hormuz, a vital global shipping route.
The UK has announced a fresh round of sanctions against individuals and organisations it says are responsible for cyber attacks and hybrid operations linked to Russian intelligence, in a move aimed at countering efforts to destabilise Europe.
Tajikistan will reduce electricity exports and increase water reserves ahead of winter as the government seeks to improve domestic power supplies after last year’s seasonal shortages.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 13th of July, covering the latest developments you need to know.
The 4th Shusha Global Media Forum will bring together nearly 160 media leaders, experts and officials from 54 countries in Azerbaijan's historic city of Shusha on 13-14 July, to discuss journalism’s role in peacebuilding, restoring public trust and tackling challenges.
The U.S. has launched fresh strikes on Iran after Tehran targeted a container ship and said it had again closed the Strait of Hormuz. Iran also claimed to have expanded attacks on U.S. military facilities across the Gulf.
Typhoon Bavi, the strongest storm to hit the eastern coast of mainland China this year, brought heavy rain, strong winds, flooding and landslides after making landfall in Zhejiang province on Sunday. More than 2.8 million people were evacuated to safety ahead of the storm.
President Ilham Aliyev is holding his annual question-and-answer session with international journalists at the 4th Shusha Global Media Forum in Azerbaijan.
Qatar is mourning the death of its former ruler, Sheikh Hamad bin Khalifa Al Thani, who has passed away at the age of 74.
The UK has announced a fresh round of sanctions against individuals and organisations it says are responsible for cyber attacks and hybrid operations linked to Russian intelligence, in a move aimed at countering efforts to destabilise Europe.
A 93-year-old British woman has died after being injured in wildfires that swept through southeastern Spain's Almeria province, regional authorities said, bringing the confirmed death toll to 13 people.
More than 10,000 excess deaths were recorded across 27 European countries during a record-breaking heatwave in late June, with older people accounting for the vast majority of the toll, according to official mortality data.
An overnight fire at a popular bar in Bangkok has killed at least 27 people and injured 63 others, making it one of the deadliest pub disasters in the Thai capital in recent years. Authorities say the venue quickly filled with thick smoke, trapping patrons inside.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 13th of July, covering the latest developments you need to know.
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