A Major Shift in Climate Leadership
Following President Donald Trump’s recent withdrawal of the U.S. from the Paris Agreement, billionaire and former New York City mayor Michael Bloomberg swiftly acted to secure funding for the United Nations Framework Convention on Climate Change (UNFCCC). Bloomberg announced his financial commitment on January 23, aiming to help the UN organization maintain its funding despite the drop in U.S. contributions. As the 16th richest person globally, Bloomberg also serves as a UN special envoy on climate change, indicating his deep engagement in the climate issue.
Importance of UN Funding
The UNFCCC relies heavily on contributions from nearly 200 member nations, with the United States historically providing about 21% of the overall budget due to its status as the world’s largest economy. Following Trump’s withdrawal, the UNFCCC faced uncertainties regarding its financial stability. Simon Stiell, Executive Secretary of the UN Climate Change, emphasized the crucial role of Bloomberg’s support, underscoring its importance for assisting countries in upholding their commitments to the Paris Agreement and pursuing a sustainable, low-emission future.
Trump’s Withdrawal & Bloomberg’s Response
This marks a repeat scenario; Trump previously withdrew the U.S. from the Paris Agreement in 2017, only for the nation to rejoin under President Biden. With this recent decision, the U.S. will eventually find itself among only a handful of countries not participating in the agreement, including Iran and Libya. Bloomberg Philanthropies, along with other climate supporters, plans to cover the U.S.’s financial obligations to the UNFCCC, though specific figures and other contributors remain undisclosed.
A Call to Action
In a statement, Bloomberg reflected on the resilience demonstrated from 2017 to 2020 when various sectors—cities, states, businesses, and the public—took initiative to uphold climate commitments in the face of federal inaction. He pledged to renew this collaborative effort, highlighting the increasing impact of climate-induced disasters, such as California’s wildfires, on the American populace. Bloomberg underscored that the U.S. is witnessing economic advantages from clean energy, mentioning job creation and dropping prices across party lines.
Commitment to Climate Progress
In addition to funding support, Bloomberg plans to work with states, cities, and companies to help the U.S. meet its global climate targets over the next four years. He aims to collaborate with subnational climate leaders to assess and report progress in combating climate change. Bloomberg remains optimistic, asserting that “the American people remain determined to continue the fight against the devastating effects of climate change,” reinforcing the belief that grassroots efforts will play a pivotal role in achieving these goals.
SOURCE: Ref Image from RFI
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