A new $10.9 billion climate change initiative is being announced by the Trump administration on Wednesday, with Vice President Mike Pence taking part in a White House event to discuss the proposal.
The White House says it will spend the money on “enhancing climate leadership” and “making America more energy secure.”
It will target “climate change-related public-private partnerships” to invest in “green infrastructure projects,” such as electric vehicles, solar, wind, hydropower and other clean technologies.
It will also seek to “help build a new generation of businesses and industries that are leading the way on clean energy.”
The new plan will include the expansion of a $5 billion fund that will help fund “green jobs” programs.
It includes a $1 billion cap-and-trade program that will phase out carbon emissions.
The plan is being hailed by the Clean Power Plan, which is set to go into effect in 2020.
The White House has been advocating to cut carbon emissions and promote renewable energy and energy efficiency for years.
The administration said in a statement the fund would be used to help boost investments in clean energy, including “advancing solar and wind” and helping to “provide rebates for energy efficiency.”
“While we’re not going to eliminate fossil fuels completely, we will take a long-term approach to ensure that the transition to a low-carbon economy can occur quickly, with as little impact on the environment as possible,” said the White House statement.
The proposal has been endorsed by a wide array of energy and environmental groups, including the Sierra Club, the Environmental Defense Fund, 350.org and the Alliance for a Green New Economy.
It has been called “historic,” a “historic day” for the country and the world.
The Sierra Club said it was “deeply concerned” that the administration’s plan would not address climate change, while 350.
Org praised the plan, calling it a “truly transformative plan” that will “make a big difference in our country’s future.”
“The Trump administration is moving forward with a bold, ambitious plan to reduce our carbon footprint and build a clean energy future, and we commend its leadership on this important issue,” the group said in its statement.
“The president’s new climate initiative will help make America more green and secure, and will put our nation on the path to meet the Paris climate agreement goals.”