“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,” said U.S. Secretary of the Treasury Scott Bessent.
The announcement went on to say, the "Trump Administration is committed to advancing all affordable and reliable sources of energy, which are fundamental to economic growth and poverty reduction.
"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."
In a presidential memorandum shared by the White House on Wednesday evening, Trump said that the decision came after a review of which “organizations, conventions, and treaties are contrary to the interests of the United States".
Simon Stiell, Executive Secretary of the UN Framework Convention on Climate Change, responded, saying, "The United States was instrumental in creating the UN Framework Convention on Climate Change and the Paris Agreement, because they are both entirely in its national interests.
"While all other nations are stepping forward together, this latest step back from global leadership, climate cooperation and science can only harm the US economy, jobs and living standards, as wildfires, floods, mega-storms and droughts get rapidly worse. It is a colossal own goal which will leave the US less secure and less prosperous."
