RIYADH ¨C Finance officials from the world¡¯s 20 biggest economies (G20) on Sunday referenced climate change in their final communique for the first time in U.S. President Donald Trump¡¯s administration, but stopped short of calling it a major risk to the economy.
The United States blocked including climate change on a list of downside risks to global growth that had won agreement by nearly all other G20 delegates, but ultimately agreed to permit a reference to the Financial Stability Board¡¯s work examining the implications of climate change for financial stability.
U.S. Treasury Secretary Steven Mnuchin played down the importance of the language included, calling it a ¡°purely factual¡± reference to work being done by the FSB. But several G20 sources said it marked progress toward greater recognition of the economic risks posed by climate change.
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