Trump in office

[Herman]

The Trump administration is uprooting the United States from another large money-sink as it continues to try to put America first.

On Thursday, Secretary of Treasury Scott Bessent announced that the U.S. is "immediately" withdrawing from the Green Climate Fund, a United Nations-aligned organization that has cost the U.S. billions in the last decade.

"Our nation will no longer fund radical organizations like the GCF whose goals run contrary to the fact that affordable, reliable energy is fundamental to economic growth and poverty reduction," Bessent said in a statement on social media.

The Green Climate Fund is an affiliate of the UN Framework Convention on Climate Change. The GCF was established in 2010, according to a timeline on its website.

In a press release, the Treasury Department said that while the administration "is committed to advancing all affordable and reliable sources of energy, ... the GCF was established to supplement the objectives of the UNFCCC, and continued participation in the GCF has been determined to no longer be consistent with the Trump administration's priorities and goals."

Under the Biden-Harris administration, the United States pledged $3 billion in a multi-year "replenishment" of the fund spanning from 2024 to 2027. The United States also seeded the fund at its inception, providing $2 billion, according to the same 2023 press release.

[Herman]

 

[Herman]