thehill.com by Zack Budryk
Businessman and former New York Mayor Michael Bloomberg said this week his philanthropic foundation will contribute the U.S.’s financial obligations under the Paris Climate Agreement to the United Nations Framework Convention on Climate Change (UNFCCC) after President Trump announced he would withdraw the U.S. from the agreement.
In a statement Wednesday through Bloomberg Philanthropies, Bloomberg said the organization will both cover the U.S.’s funding gap and its reporting requirements for planet-warming emissions.
The announcement does not specify a dollar amount the organization will contribute, but it committed about $15 million to the UNFCCC between 2017 and 2020 after Trump announced the withdrawal of the U.S. from the agreement in his first term.
The U.S. ordinarily pays about a fifth of the UNFCCC budget, which amounted to about $7.5 million in 2024…
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