Finance Watchdog Confronts Climate Discord After Officials Clash

Less than a month after global finance officials clashed over the extent to which climate change represents a threat to financial stability, one of the world’s most powerful financial watchdogs is having to reckon with discord among its members.

The rift has prompted the Financial Stability Board to make amendments to a report that details the progress it’s made in delivering on climate-related objectives. The changes highlight the divergence of opinions among FSB members and make clear not all of the central banks and finance ministries that make up the group endorse the work, according to the document, which was seen by Bloomberg News and a version of which is due to be shared with the G20 later this month.