Axios - Bloomberg CEO and philanthropist Michael Bloomberg will help fund the UN's top climate office in the wake of the U.S. pullout from the Paris Agreement. As the planet's second-biggest emitter, America's disengagement complicates the world's already faltering efforts to limit global warming to the Paris targets.
When President Trump announced the Paris pullout on Inauguration Day, he issued an executive order that went a few steps further.
- Trump also canceled the U.S. commitment to contribute millions in international aid to help other countries adapt to climate change and cut their emissions.
- In addition, he began the process of cutting off funds to the office that coordinates UN climate summits and houses the top UN climate official, Simon Stiell.
Bloomberg Philanthropies took a similar step when Trump pulled out of Paris during his first term, spending about $21 million to support that office and other UN climate activities between 2017 and 2021.
Zoom out: Bloomberg is also involved with the "America Is All In" coalition, which seeks to work with states, cities and regional governments to cut emissions, regardless of what the federal government is doing.
How much such organizations can accomplish given the Trump administration's pro-fossil fuel policies
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