The United States has ceased its support for climate-related lending programs at the International Monetary Fund (IMF). Following signals from the Trump administration of a shift in priorities, the U.S. has voted against or abstained from financing projects it previously endorsed.

According to data released by the U.S. Treasury Department covering meetings up to September of last year, the U.S. did not support any new or existing credit arrangements under the Resilience and Sustainability Trust (RST) in any of the 12 votes taken by the IMF's Executive Board since President Donald Trump took office last year.

This new stance reflects Trump's opposition to advancing global common initiatives on environmental issues, with the withdrawal from the Paris Agreement serving as a prime example. This contrasts sharply with the policy during the Biden administration, when the U.S. supported all RST-related projects. The RST was established in October 2022 with the goal of assisting poorer countries in addressing the climate crisis.

Trump's policy shift carries significant weight, as the U.S. is the largest shareholder in the Washington-based IMF, although its 16.5% voting share does not grant it unilateral veto power. A spokesperson for the U.S. Treasury Department did not respond to a request for comment.

The RST is funded by wealthier IMF member countries and aims to provide loans for long-term structural reforms, with a focus on climate change and pandemic preparedness. According to IMF data, more than 20 countries have been promised a total of approximately $14 billion in funding.

U.S. Treasury Secretary Scott Bessent stated last year that the IMF has "devoted a disproportionate amount of time and resources to climate change, gender, and social issues" and should return to its core function as an economic stabilizer.

"The current administration believes the Fund has overreached on climate issues, and the RST is a prime manifestation of this," said Mark Sobel, a former U.S. representative to the IMF with nearly four decades of service at the Treasury Department.

The IMF is scheduled to conduct a "comprehensive review" of the RST this year. Sobel indicated that the Fund may decide to terminate the program and integrate climate considerations into broader, more traditional lending arrangements.