G20's financial watchdog lays out climate plan but presses pause amid divisions

FILE PHOTO: A man walks at the Cape Town International Convention Centre during day two of the four day G20 Finance Ministers meeting in Cape Town, South Africa, February 25, 2025. REUTERS/Nic Bothma/File Photo

LONDON (Reuters) -The G20's financial stability watchdog delivered a new plan on how to tackle climate risks on Monday, but paused further policy work amid a retreat by the United States that has tested efforts to advance a united financial policy on climate-related risks.

The U.S. has withdrawn from multiple groups dedicated to exploring how flooding and wildfires and big climate-related policy shifts could impact financial stability.