Billionaire Bloomberg Donates $5.5Mln To Fill US Gap In UN Climate Funding

Former New York City Mayor Michael Bloomberg contributed $5.5 million to UN climate change efforts to fill the funding gap created by the US decision to exit the Paris Agreement, Bloomberg Philanthropies said in a press release on Monday

UNITED NATIONS (UrduPoint News / Sputnik - 22nd April, 2019) Former New York City Mayor Michael Bloomberg contributed $5.5 million to UN climate change efforts to fill the funding gap created by the US decision to exit the Paris Agreement, Bloomberg Philanthropies said in a press release on Monday.

In 2017, the United States citing the deal's potential negative economic impact withdrew from the Paris Agreement on climate change. The pact, which came into force in 2016, requires its almost 200 participants to develop plans to help mitigate the effects of climate change.

"Today, Michael R. Bloomberg, the United Nations Secretary-General's Special Envoy for Climate Action, announced that for the second year in a row he will make up the funding gap left by the United States Federal government and provide $5.

5 million to the United Nations Climate Change Secretariat to ensure it can continue its critical work empowering countries to meet the goals outlined in the Paris Agreement," the release said.

According to the release, Bloomberg will make an additional contribution to the United Nations in 2020 if the US government will not act on the pledges it made to support the Paris Agreement.