On Friday, former New York mayor billionaire Michael Bloomberg announced that his Bloomberg Philanthropies would cobble together $15 million along with other entities to “support the operations” of the United Nation’s Framework Convention on Climate Change to cover the funds lost by President Trump’s decision to exit the Paris Accord.
A statement from Bloomberg Philanthropies read,”The pledge aims to fill a significant funding gap that comes as a result of President Donald Trump’s announced withdrawal from the Paris agreement and proposed steep budget cuts for international programs, including on climate.”
Forbes estimates Bloomberg is worth $50 billion.
Patricia Espinosa, the executive secretary of the UN Framework Convention on Climate Change, said the funding offered by Bloomberg is “crucial,” adding, “In order to achieve Paris in full and deliver a low emissions, resilient and more secure future for every man, woman and child, it is very encouraging to see that all actors reaffirm their willingness to work together.” Bloomberg Philanthropies’ Clean Energy initiative has funded efforts to take coal-fired power plants offline.
Bloomberg added that mayors, governors, and business leaders “from both political parties are signing onto a statement of support that we will submit to the U.N. — and together, we will reach the emission reduction goals the U.S. made in Paris in 2015.”
On Thursday, Bloomberg tweeted: