Bloomberg rushes to the rescue: Trump will not be able to stop the fight against global warming
24 January 2025 15:21
Former New York City mayor and media billionaire Michael Bloomberg will help fund the UN climate program after Donald Trump decided to stop providing such assistance. This was reported by Reuters with reference to the billionaire’s unit that deals with such projects, "Komersant Ukrainian" reports.
As you know, the new Republican president announced after taking office on Monday that he would withdraw the United States from the Paris Climate Agreement and stop US funding for the relevant climate program. It is worth recalling that Trump also withdrew the United States from the Paris Agreement during his first term in the White House in 2017-2021.
Michael Bloomberg, who is also the UN Special Envoy for Climate Change, intends to help fill the financial gap that has been created by Donald Trump’s decision.
“Bloomberg Philanthropies and other U.S. climate organizations will ensure that the United States meets its global climate commitments,” the billionaire’s organization said in a statement.
It also added that this funding will include covering the amount that the United States must pay annually under the UN Framework Convention on Climate Change.
Michael Bloomberg also promised to work with states, cities, and companies to ensure that the United States fulfills its global climate commitments.
Reuters reminds that the United States is responsible for funding approximately 21% of the core budget of the UN Framework Convention on Climate Change. Last year, the United States paid the required contribution of 7.2 million euros, and also paid off the debt of 3.4 million euros for unpaid contributions during 2010-2023.
Last year’s analysis by Reuters of the UN Framework Convention on Climate Change documents showed that the UNFCCC program is experiencing a serious budget deficit, which, according to experts, has begun to hamper the effectiveness of the global climate dialogue.
