The Environmental Protection Agency has terminated grant agreements worth $20 billion issued by the Biden administration under a so-called green bank to finance clean energy and climate-friendly projects.

On a day featuring a blitz of environmental regulatory actions, the EPA on Wednesday announced two particularly sweeping climate change moves. Why it matters: The moves reveal the administration's strategy to "revisit" or "revise" both the social cost of carbon as well as the 16-year-old endangerment finding.

The move comes just one day before a federal judge will hold a hearing in a lawsuit brought by one of the grant recipients seeking access to the funds the Trump administration had frozen while it probed the program.