Bloomberg Commits $4.5 Million to Climate Change Efforts

Bloomberg Commits $4.5 Million to Climate Change Efforts

has announced a $4.5 million contribution in support of the operations of the , including its work to help countries implement their commitments under the 2015 Paris climate accord.

In keeping with Bloomberg's 2017 pledge to fill a gap resulting from President Donald Trump's intention to withdraw from the Paris Agreement and his administration's proposed cuts to international programs, including those focused on climate, the gift will provide the secretariat with 60 percent of its anticipated U.S. support for 2018, meeting a shortfall in the amount allocated to the agency by Congress in its recently enacted FY2018 omnibus spending bill. Should the U.S. government continue to underfund the secretariat in 2019, Bloomberg Philanthropies will make additional funds available, with the goal of strengthening the secretariat's capacity to support climate action in developing countries, conduct strategic outreach to key stakeholders, and address institutional needs in areas such as information technology and communications.

"The U.S. pledged to work with the rest of the world to fight climate change under the Paris Agreement, and that includes providing our fair share of the funding to help countries reach their goals," said former New York City mayor , the United Nations Secretary-General's Special Envoy for Climate Action. "Our foundation will uphold our promise to cover any cuts to UN climate funding by the federal government — and the American people will uphold our end of the Paris Agreement, with or without Washington."

"When countries adopted the historic Paris Agreement to limit global temperature rise, they also recognized that achieving that goal would take broad-based global climate action in all sectors, public and private," said Patricia Espinosa, executive secretary of the UN Climate Change Secretariat. "I welcome this generous contribution from Bloomberg Philanthropies as an important, practical recognition of our need to work together, and to step up our response to climate change."

"." Bloomberg Philanthropies Press Release 04/22/2018.