The funding will help countries implement their commitments under the 2015 Paris Agreement on climate change. Bloomberg will also work with other governments and philanthropies that may be interested in supporting the UNFCCC at this critical time. The pledge aims to fill a significant funding gap that comes as a result of President Donald Trump’s announced withdrawal from the Paris agreement and proposed steep budget cuts for international programmes, including on climate.
“Americans are not walking away from the Paris Climate Agreement” said Bloomberg. “Just the opposite – we are forging ahead. Mayors, governors, and business leaders from both political parties are signing onto a statement of support that we will submit to the UN – and together, we will reach the emission reduction goals the US made in Paris in 2015. As a sign of our commitment, Bloomberg Philanthropies, in partnership with others, will make up the approximately $15 million in funding that the U.N.’s Climate Secretariat stands to lose from Washington. Americans will honour and fulfil the Paris Agreement by leading from the bottom up – and there isn’t anything Washington can do to stop us.”
Patricia Espinosa, the Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC), added that UNFCCC is grateful to Bloomberg Philanthropies for this generous contribution and that while funding from governments remains central to its work, this kind of support is crucial for the work of the Secretariat to assist nations in their efforts to implement their commitments under the Paris Climate Change Agreement.
Trump indicated the administration will terminate all support for UN climate change efforts. This would slash the US contribution to the operations of the UNFCCC – the climate negotiating body of the UN — creating an immediate gap. It will also cut previously promised funding for the Green Climate Fund, which provides billions of dollars in support for developing countries to meet their Paris Agreement commitments.
The Green Climate Fund recently launched a request for proposals from private sector companies to cut emissions or improve climate resilience in developing countries, offering a total $500 million in funding overall.
From 2014 to 2016, Bloomberg Philanthropies supported the UNFCCC – the climate negotiating body of the UN – for its work with “non-state actors” including cities, states and businesses. Bloomberg Philanthropies can fill the gap left by the US government backing out of its commitments. Support would be allocated to cover staff costs in Bonn, Germany associated with their climate negotiations and communications efforts.
The Global Covenant of Mayors Co-chair and European Commission, Vice President Maroš Šefčovič, said that it's good to see US mayors, governors, businesses and philanthropies showing commitment and determination to continue, even stepping up, the fight against climate change. Non-state actors from all over the world have a key role to play to achieve the Paris Agreement's objectives while US cities, states, businesses and citizens have the power to save the Paris Agreement, showing the world that people are stronger together
Image: Mike Bloomberg (Bloomberg Philanthropies)
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