Billionaire Michael Bloomberg announced Thursday that his foundation will step in to finance the United Nations climate change body after President Donald Trump announced the United States would withdraw from the Paris Agreement for a second time.
Bloomberg’s intervention aims to ensure that the United Nations Framework Convention on Climate Change (UNFCCC) remains fully funded even if the United States stops its contributions.
The United States typically provides 22 percent of the UNFCCC Secretariat’s budget, with the body’s operating costs for 2024–2025 estimated at 88.4 million euros ($96.5 million).
“From 2017 to 2020, during a period of federal inaction, cities, states, businesses and the public rose to the challenge of maintaining our nation’s commitments — and now, we are ready to do it again,” Bloomberg, Those who work on climate ambition and solutions, the UN Special Envoy for Climate Change said in a statement.
This is the second time Bloomberg has stepped in to fill the gap left by the US federal dissolution.
In 2017, following the Trump administration’s first withdrawal from the Paris Agreement, Bloomberg pledged up to $15 million to support the UNFCCC.
He also launched “America’s Pledge”, an initiative to track and report on America’s non-federal climate commitments, ensuring the world can monitor America’s progress as it still remains fully committed to the Paris Agreement. Be a committed party.
This time too, Bloomberg reiterated his commitment to uphold US reporting obligations.
“Enable the UN Climate Change Secretariat to meet its commitments under the Paris Agreement and support countries in pursuing a low-emission, resilient and secure future for all,” said UN Climate Chief Simon Still. “Contributions like this are important.”
(Tags to translate) Michael Bloomberg (T) United Nations Framework Convention on Climate Change (T) Trump on Climate Change (T) US Withdraws from Paris Agreement (T) Paris Agreement (T) Paris Agreement Climate Change
