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Climate funders say they will cover US climate obligations after Paris Agreement withdrawal
On Monday, President Donald Trump announced his intention to withdraw the United States from the Paris Agreement, the U.N.-backed international climate treaty. Bloomberg Philanthropies announced Thursday that they, along with a coalition of climate charities, would step up and ensure that the U.S. meets its obligations under the Paris Agreement, including any financial and reporting requirements.
"While government funding remains essential to our mission, contributions like this are vital in enabling the UN Climate Change secretariat to support countries in fulfilling their commitments under the Paris Agreement and a low-emission, resilient, and safer future for everyone," said Simon Stiell, United Nations climate change executive secretary, in a press statement.
This is the second time Trump has withdrawn the country from the Paris Agreement. During his first term, Trump justified backing out of the treaty by claiming that participating in the agreement would result in the loss of jobs and cost the U.S. trillions of dollars. In reality, in 2023, clean energy jobs grew at more than twice the rate of the overall U.S. labor market and accounted for more than 8.35 million positions, according to a Department of Energy report. In terms of spending, the U.S. has committed several billion dollars to the effort, not trillions.
Michael Bloomberg, a billionaire businessman, founder of Bloomberg Philanthropies and a U.N. Secretary-General's Special Envoy on Climate Ambition and Solutions, said he also plans to continue supporting a coalition of states, cities and businesses that are working to reduce U.S. greenhouse gas emissions by 61-66% below 2005 levels by 2035.
"More and more Americans have had their lives torn apart by climate-fueled disasters, like the destructive fires raging in California. At the same time, the United States is experiencing the economic benefits of clean energy, as costs have fallen and jobs have grown in both red and blue states. The American people remain determined to continue the fight against the devastating effects of climate change," Bloomberg said.
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