Bloomberg News reports that the US EPA is poised to repeal its carbon standards for coal and gas power plants.

Bloomberg News reported 'on Sunday that the U.S. Environmental Protection Agency was poised to formally repeal carbon emission standards for coal and gas-fired power stations.

Bloomberg reports that the latest climate rollback could come as early as Monday, on the sidelines the G20 energy Ministers' Meeting in Houston,?Texas.

Last year, the U.S. administration of President Donald Trump proposed to repeal rules that were passed by former President Joe Biden in order to "reduce emissions of mercury, carbon dioxide and other air pollutants" from power plants.

Bloomberg reported that this week, 'the EPA will finalize a part of the initial proposal. And 'agency officials plan to propose a new rule, repealing federal findings that greenhouse gas emissions from power plants are a specific threat.

Could not verify the report immediately. The EPA didn't respond to a comment request outside of business hours.

The repeal of environmental regulations is an important step in Trump’s strategy to reduce unnecessary barriers that he believes prevent industrial development and increased energy production.

Biden's carbon emission rules for power plants would have reduced greenhouse gas?emissions by 1 billion tons by 2047. This was a 'crucial' part of the fight against climate change by his administration.

Nearly a quarter (25%) of the U.S. pollution from greenhouse gases is attributed to the electricity sector.

(source: Reuters)