ESG & Investing
US Draws Ire of France, Canada at Financial Stability Talks
A resident sprays water on hot spots near a house during a wildfire in British Columbia.
Photographer: Cole Burston/BloombergTop officials from central banks and finance ministries were forced to call a timeout at a meeting of the world’s most powerful financial watchdog last week, amid clashes over the US stance on climate change.
At a June 11 gathering of the Financial Stability Board, officials from France, the Netherlands and Canada voiced dismay after Michael Kaplan, the Treasury’s interim undersecretary for international affairs, said climate should only be a focus if there’s proof of an imminent financial stability risk, according to people familiar with the matter who asked not to be identified discussing private talks.