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Bloomberg steps in to cover US climate dues after exit from Paris accord

 

Billionaire Michael Bloomberg has stepped in to fund the UN climate change agency after the US withdrew from the Paris Agreement. Bloomberg's pledge ensures the agency remains operational, covering 22% of its $96.5 million budget that was previously funded by the US for 2024-2025.


In the past, Bloomberg contributed $4.5 million to support the UN Climate Change Secretariat, covering 60% of the anticipated US government support.¹ He also pledged an additional $5.5 million to fill the funding gap left by the US federal government.² Bloomberg's efforts aim to demonstrate that the US can meet its pledge under the Paris Agreement despite federal inaction.

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