Three days after the announcement of the United States' withdrawal from the Paris Climate Agreement, billionaire Michael Bloomberg announced that he would support the financial functioning of the United Nations Framework Convention on Climate Change (UNFCCC) to compensate for the lack of US contribution.
This was reported by Euronews.
The UNFCCC budget is based on contributions from nearly 200 member states. The United States, as the world's largest economy, usually paid the largest contributions – about 21%.
Bloomberg Philanthropies, along with other American foundations that fund climate action, has now announced that it will cover the amount the U.S. must pay annually to the UNFCCC. It did not disclose details about the exact amounts of funding or who the other climate action funders are.
"From 2017 to 2020, during a period of federal government inaction, cities, states, businesses and the public rose to the challenge to meet our nation's commitments -- and now we're ready to do it again," Bloomberg said in a statement.
It is a period when Donald Trump led his country from the Paris Climate Agreement after his first election by President.
Mediamillard also added that more and more Americans suffer from climatic disasters. As an example, he cited forest fires raging in California. At the same time, according to Bloomberg, the United States feel "economic benefits of pure energy": prices fall, and jobs are created in both republican and democratic states.
The billionaire has also promised to cooperate with states, cities and companies to ensure that the United States would comply with its global climatic obligations. They will jointly track and report on the country's progress over the next 4 years.
"The American people remain determined to continue the fight against the devastating effects of climate change," the statement said.
As Ecopolitic reported earlier, Trump on the first day in office for the second time signed an order on the withdrawal of the United States from the Paris Climate Agreement. We also talked about What is the Paris Climate Agreement But why the US president is against her.
