G-20 agrees final communique with reference to climate change

 

February 23, 2020

 


The agreement came after compromise language was found to overcome US objections to an earlier draft. PHOTO: EPA-EFE

 

RIYADH (REUTERS) – Finance officials from the world’s 20 biggest economies (G-20) meeting in Riyadh on Sunday (Feb 23) reached an agreement on the wording of a final communique that includes a reference to climate change, a G-20 diplomatic source said.

The agreement came after compromise language was found to overcome US objections to an earlier draft that had referred to “macroeconomic risk related to environmental sustainability” and listed work by the Financial Stability Board to examine the financial stability implications of climate change.

G-20 finance ministers and central bankers are meeting in the Saudi capital to discuss top global economic challenges, focusing on the growth outlook and new rules to tax global digital companies.

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