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Good morning from the Financial Times.

Today is Monday, February 21st, and this is your FT News Briefing.

The Olympics wrapped up in Beijing yesterday, capping two weeks of competition and controversy.

And banks pledged to fund a UN-backed ETF in the run-up to the Glasgow Climate Summit.

But the money never arrived, and the fund is close to failure.

These banks pledged massive funding to this ETF.

They put their name on this ETF to seed it, for it to launch.

And then the funding has yet to be met.

Then companies have spent the last few years promising to address racial equity.

We hear if they've delivered.

I'm Joanna Gao, in for Mark Filipino, and here's the news you need to start your day.

The Beijing Winter Olympics drew to a close on Sunday.

China had pledged to deliver a simple, safe, and splendid games.

Its closed loop system was largely successful at containing the spread of COVID-19,

with close to zero cases in the final days of the Olympics.

But the event did not escape controversy.

The US led a diplomatic boycott over China's human rights record,

and the International Olympic Committee was criticized for how it handled a doping scandal.

Norway topped the games with 16 gold medals.

China had its best Winter Olympics result with nine golds.

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