President Trump reportedly wants to begin using a green energy fund supported under the Paris climate change agreement to finance coal power plants, after the U.S. contributed $1 billion to the fund under the Obama administration.
A Trump administration official told Bloomberg that the White House is developing a strategy to begin using the Green Climate Fund to construct more "clean coal" power plants in other countries.
Financing for the climate fund was codified in 2015 under the Paris Climate Agreement, to which former President Barack Obama sent two tranches of $500 million before leaving office in January.
The fund is slated to begin collecting $100 billion per year by 2020 from developed countries to help poorer nations adapt to the effects of climate change.
President Trump exited from the agreement on June 1, calling it a "bad deal" for the country and the American people. However, he has signaled a willingness to renegotiate the terms of the deal under the United Nations and signatory nations. He discussed the deal on Thursday in meetings with President Emmanuel Macron of France in Paris.
The Trump official said the U.S. will begin pushing the idea of spending more money to fund "clean coal," or other fossil power plants that aim to cut greenhouse gas emissions. The fund has already been used for renewable projects and hydropower.
The Green Climate Fund convened its 17th meeting of its board of directors last week in Korea.