In a decisive move that reflects his commitment to addressing climate change, former New York Mayor Michael Bloomberg has stepped in to provide funding to cover the U.S. contribution to the United Nations Framework Convention on Climate Change (UNFCCC). This donation comes after President Donald Trump’s decision to withdraw the United States from the Paris climate agreement, which included halting its international climate funding.
Bloomberg, a media mogul and well-known philanthropist, announced that his philanthropic arm, Bloomberg Philanthropies, would take responsibility for ensuring the U.S. fulfills its financial obligations to the UNFCCC. As a key player in the fight against climate change, Bloomberg has also served as a U.N. Special Envoy on Climate Change, working to build momentum for global environmental initiatives.
With the U.S. historically responsible for approximately 21% of the UNFCCC’s budget, this move fills a significant gap. Last year, the U.S. contributed 7.2 million euros (about $7.4 million) for 2024, in addition to settling a 3.4 million-euro debt for missed payments between 2010 and 2023. The UNFCCC, which organizes climate negotiations and facilitates the implementation of global agreements like the Paris Accord, has been struggling with a severe budget shortfall, a situation that threatens to hinder its ability to lead critical climate action.
In his statement, Bloomberg emphasized the importance of ensuring that the U.S. continues to meet its climate commitments, even in the face of federal inaction. He acknowledged the efforts of U.S. cities, states, businesses, and the public, who have remained dedicated to upholding the nation’s climate obligations, even without the support of the federal government. Bloomberg expressed confidence that this collective action could help the U.S. stay on track to fulfill its global climate responsibilities.
The support from Bloomberg Philanthropies and other climate funders signals a growing trend where non-governmental actors are stepping up to fill the void left by the federal government. Linda Kalcher, the executive director of the think tank Strategic Perspectives, noted that many U.S. states and businesses are eager to continue international climate cooperation, regardless of the federal stance. This kind of collaboration between local actors and philanthropic organizations may play a pivotal role in keeping the momentum for global climate progress alive.
While the UNFCCC’s core budget is traditionally funded by governments, Bloomberg Philanthropies has already contributed substantial funds in the past, including a $4.5 million donation in 2023. This move highlights the critical role that private sector leaders and philanthropists like Bloomberg can play in ensuring that vital international climate efforts do not falter, even in the face of political shifts.
As the global community continues to grapple with climate change, Bloomberg’s actions demonstrate the power of leadership and collaboration, offering hope that progress can still be made, even when faced with significant obstacles.
