The Trump administration is urging the World Bank to reverse its restrictions on fossil fuel lending and resume financing oil and gas projects, particularly upstream gas developments.

The push marks a dramatic departure from the Bank’s 2017 decision to stop funding new upstream oil and gas ventures after 2019, with only narrow exceptions for poorer nations needing energy access under Paris climate goals.

According to officials cited by the Financial Times, Washington wants the World Bank — and other multilateral development banks — to back projects ranging from natural gas pipelines to broader upstream energy development, putting energy security ahead of climate considerations.

The move reflects a broader shift in North America’s financial sector. Since President Trump’s return to office, several major U.S. and Canadian banks have pulled out of the Net-Zero Banking Alliance, an international pact to align financing with net-zero emissions by 2050. The withdrawals follow years of pressure from Republican-led states and legal challenges targeting climate-focused banking policies.

A Treasury Department spokesperson said the administration views expanded fossil fuel lending as part of an “all-of-the-above” energy strategy designed to support growth and poverty reduction in developing countries.

The appeal to the World Bank also underscores the administration’s wider goal of bolstering U.S. dominance in global energy exports, even as Europe and other regions tighten restrictions on fossil fuel financing.