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.
Iran’s Revolutionary Guards (IRGC) said on Wednesday they attacked two U.S. vessels and eight oil tankers in the Persian Gulf, calling the st...
Four people were killed, including a child, in Ukrainian strikes on the Russian port city of Novorossiysk overn...
Foreign direct investment in Georgia fell sharply in the second quarter of 2026, while China surged to become the country’s largest investor,...
Four people were killed, including a child, in Ukrainian strikes on the Russian port city of Novorossiysk overnight, according to the governor of the Krasnodar region. Ukraine's drone forces commander, Robert Brovdi, said Russian military ships were destroyed in the attacks.
A TV channel was struck during a live broadcast on Tuesday, Ukrainian President Volodymyr Zelenskyy said, as Russian strikes on Kyiv killed at least three people, the city's Mayor Vitali Klitschko said. Meanwhile, drones hit civilian infrastructure in Russia's southwestern Saratov region.
U.S. Central Command (CENTCOM) said its forces destroyed five Iranian crude oil carriers after the Islamic Revolutionary Guard Corps (IRGC) allegedly launched two ballistic missile attacks against a U.S. Navy warship over the past two days.
U.S. special envoys Jared Kushner and Steve Witkoff have held talks with Ukrainian President Volodymyr Zelenskyy in Kyiv on Sunday on efforts to end Russia’s war in Ukraine.
Indonesia has reopened Jakarta's main airport and four others after volcanic ash from Mount Anak Krakatau forced widespread flight cancellations, though fresh eruptions have kept authorities on alert.
Four people were killed, including a child, in Ukrainian strikes on the Russian port city of Novorossiysk overnight, according to the governor of the Krasnodar region. Ukraine's drone forces commander, Robert Brovdi, said Russian military ships were destroyed in the attacks.
Foreign direct investment in Georgia fell sharply in the second quarter of 2026, while China surged to become the country’s largest investor, highlighting Tbilisi’s deepening economic ties with Beijing as relations with the West remain strained.
North Korea has built a new uranium enrichment facility at its Yongbyon nuclear complex in the northwest of the country and begun operating an expanded site at Kangson, near the capital Pyongyang, the United Nation’s nuclear watchdog has said.
Israel has ordered the closure of the British consulate in East Jerusalem and banned 12 British nationals from entering the country, escalating a diplomatic row with London over Israeli settlements in the West Bank.
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