$20 million or more forthcoming from Michael Bloomberg and partners to continue international climate funding

In response to the recent decision to withdraw the United States from the Paris Climate Agreement and cease international climate funding, former New York City Mayor Michael Bloomberg has announced that Bloomberg Philanthropies, along with other U.S. climate funders, will privately cover the nation’s financial commitments to the United Nations Framework Convention on Climate Change (UNFCCC).
This initiative ensures the U.S. meets its funding and emissions reporting obligations despite the federal government’s withdrawal.
This is not the first time Michael Bloomberg has taken such action.
Following a similar withdrawal by the U.S. in 2017, Bloomberg stepped in to fulfill the country’s financial commitments to the UNFCCC.
He emphasized the role of local leaders, businesses, and the public in upholding the nation’s climate commitments during periods of federal inaction.
Bloomberg stated, “From 2017 to 2020, during a period of federal inaction, cities, states, businesses, and the public rose to the challenge to uphold our nation’s commitments—and now, we are ready to do it again.”
UNFCCC Executive Secretary Simon Stiell expressed appreciation for this support, stating, “We deeply appreciate the generous support”.
He also noted that while such philanthropic contributions are valuable, government funding remains essential for the UNFCCC’s operations.
Bloomberg’s intervention underscores the significant role that private entities and local governments can play in addressing global challenges like climate change, especially when federal support is withdrawn.