President-elect Joe Biden will rescind the cross-border permit for TC Energy's Keystone XL pipeline on his first day in office, three sources confirm to POLITICO.

The move is billed as one of Biden’s Day One climate change actions, according to a presentation circulating among Washington trade groups and lobbyists, a portion of which was seen by POLITICO. The decision was not included in incoming chief of staff Ron Klain’s Saturday memo outlining Biden’s planned executive actions during the first days of his presidency.

President-elect Joe Biden is reportedly planning on canceling the permit for the $8 billion Keystone XL pipeline on his first day in office.

The Canadian Broadcasting Corporation (CBC) first reported the news on Sunday after it obtained an apparent briefing note from Biden’s transition team. On the list of executive actions meant for Biden’s first day in office "Rescind Keystone XL pipeline permit" reportedly shows up.

In a notable return to Obama-era policies, President-elect Joe Biden is reportedly planning to use executive power to cancel the federal permits needed to construct the Keystone XL pipeline in his first days in office.

The pipeline — a project intended to move oil from the Canadian province of Alberta to the state of Nebraska and estimated to create tens of thousands of jobs and billions of dollars in revenue — was repeatedly fettered over environmental concerns during the Obama administration when Biden was vice president.