Former New York Mayor Michael Bloomberg’s philanthropic arm said on Thursday it will provide funds to help cover the United States’ contribution to the United Nations climate body’s budget, filling a gap left by President Donald Trump. Trump.
The new president announced, after taking office on Monday, that he will withdraw the US from the Paris Agreement and end the country’s international climate financing. Trump had already withdrawn the US from the agreement in his first term in the White House, from 2017 to 2021.
Bloomberg is a media billionaire who also serves as the UN special envoy on climate change.
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“Bloomberg Philanthropies and other U.S. climate funders will ensure the United States meets its global climate obligations,” the organization said in a statement, adding that this includes covering the amount the U.S. owes annually to the United Nations Framework Convention on Climate Change (UNFCCC).
Bloomberg Philanthropies did not provide details on the funding amounts or who the other funders are.
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The UNFCCC is the UN’s main climate body and conducts annual climate negotiations between almost 200 countries, in addition to helping to implement the agreements made in these negotiations – the largest of which is the 2015 Paris Agreement.
Michael Bloomberg also committed to working with states, cities and businesses to ensure the U.S. stays on track with its global climate obligations.
“From 2017 to 2020, during a period of federal inaction, cities, states, businesses and the public faced the challenge of upholding our nation’s commitments – and now, we are ready to do it again,” he said in the statement.
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The US is responsible for funding about 21% of the UNFCCC’s main budget. Last year, the country paid a mandatory contribution of 7.2 million euros for 2024 and also paid a delay of 3.4 million euros for contributions not made between 2010 and 2023.
An analysis of the Reuters on UNFCCC documents last year revealed that the UN body is suffering a serious budget deficit, which diplomats say has begun to hamper part of the global climate dialogue.
“We deeply appreciate the generous support of Bloomberg Philanthropies and the leadership demonstrated by Mike Bloomberg,” UN climate chief Simon Stiell said in a statement.
