By AFP - Agence France Presse
Bloomberg to fund UN climate agency after US pulls out of Paris agreement
Billionaire Michael Bloomberg, the former mayor of New York, announced on Thursday that his foundation will fund the UN climate change agency after President Donald Trump withdrew the United States from the Paris Agreement. Bloomberg's pledge will cover 22% of the $96.5 million budget previously provided by the US for 2024-2025.
Billionaire Michael Bloomberg announced on Thursday that his foundation will step in to fund the UN climate change body after President Donald Trump declared that 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 though the United States has stopped its contributions.
The United States normally provides 22% of the UNFCCC secretariat's budget, with the body's operating costs for 2024-2025 projected at 88.4 million euros (96.5 million dollars).
“From 2017 to 2020, during a period of federal inaction, cities, states, businesses, and the public rose to the challenge of keeping our nation's commitments - and now, we're ready to do it again,” Bloomberg, who serves as UN Special Envoy for Climate Ambition and Solutions, said in a statement.
This is the second time Bloomberg has stepped in to fill the gap left by US federal non-commitment.
In 2017, after 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 the US's non-federal climate commitments, ensuring that the world could monitor US progress as if it were still a fully committed party to the Paris Agreement.
Bloomberg reiterated his commitment to upholding US reporting obligations this time around as well.
“Contributions like this are vital to enable the UN Climate Change Secretariat to support countries in meeting their commitments under the Paris Agreement and advancing a low-emission, resilient, and safer future for all,” said UN climate chief Simon Stiell.
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