A Treasury Department official on Wednesday said the U.N. agency is considering eliminating funding for the Brownfield Fund, which has been used to support U.C. Berkeley research and to help fund a large number of projects across the world.
The agency would use its $2.8 billion in funding for projects to develop and deploy new technologies, and to support the global economic recovery, the official said.
Treasury Secretary Steven Mnuchin said in an interview with CNBC that the fund would no longer be used to help finance U.K. research and that the department is “looking to eliminate it.”
“We have the Brownfields fund, it’s not a priority.
We are not using it for Brownfields anymore,” Mnuchin told CNBC.
“The Brownfields is being cut, but it’s very, very important to the United States.”
Brownfields funds have supported projects in many parts of the world, including the United Kingdom and India, which together fund nearly half of the country’s research, according to data compiled by the Brown Field Fund, a nonprofit that focuses on sustainable development.
Treasury said in a statement that it will continue to fund the Brown Fields Fund.
The White House did not immediately respond to a request for comment.
Mnuchin also said that the Treasury will be looking to invest more in “green energy” technologies.
He said the agency would explore ways to make the investments more accessible to people in rural areas.
“We’ve got to find a way to make this more accessible,” Mnuchisaid.
“In terms of green energy, I think that we have to do more to connect those communities with those resources.”
The White Houses energy strategy was announced in September and includes a proposal to increase investments in renewable energy and energy efficiency.
It has been the subject of much criticism from the Trump administration, which said it would cut investment in green energy and make other cuts to climate-related programs.