Michael Bloomberg Steps Up to Fund UN Climate Change Efforts Post US Withdrawal
Billionaire Michael Bloomberg has announced that his foundation will provide financial support to the UN Framework Convention on Climate Change (UNFCCC) after the United States stopped its contributions. This move comes following President Donald Trump's declaration of the U.S. withdrawal from the Paris Agreement for a second time.
Bloomberg's funding aims to ensure that the UNFCCC remains fully operational, as the U.S. typically contributes 22% of the organization's budget, which is projected at 88.4 million euros for 2024-2025. Bloomberg, who serves as the UN Special Envoy on Climate Ambition and Solutions, has previously intervened in 2017 when the Trump administration first withdrew from the Paris accord, pledging up to $15 million at that time.
In a statement, Bloomberg emphasized that cities, states, businesses, and the public will continue to uphold the nation's climate commitments despite federal inaction. UN climate chief Simon Stiell highlighted the importance of contributions like Bloomberg's in helping countries meet their obligations under the Paris Agreement and working towards a sustainable future.
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