Washington: The United States has withdrawn from a South Korea-based international institution on climate change, the Treasury Department announced, following a memorandum signed by President Donald Trump to exit dozens of global organizations that he described as "contrary" to U.S. interests. According to Yonhap News Agency, the Treasury Department has notified the Green Climate Fund (GCF) of the U.S. decision to withdraw and resign from its seat on the GCF board, effective immediately, as part of the Trump administration's move to leave the U.N. Framework Convention on Climate Change (UNFCCC). The GCF, headquartered in Incheon, west of Seoul, was established in 2010 under the UNFCCC to assist developing countries with climate change adaptation and mitigation efforts. Secretary of the Treasury Scott Bessent stated that the U.S. would no longer fund organizations like the GCF, which he claimed have goals opposing the belief that affordable, reliable energy is essential for economic growth and poverty reduct ion. The Treasury Department emphasized that continued participation in the GCF did not align with the Trump administration's priorities and goals. The department reiterated the administration's commitment to promoting all affordable and reliable energy sources, highlighting their importance for economic growth and poverty alleviation. This withdrawal follows President Trump's memorandum to exit the U.S. from 66 international organizations, agencies, and commissions. Secretary of State Marco Rubio noted that these organizations were identified as part of the administration's assessment of "wasteful," "ineffective," and "harmful" international entities.