The Big Climate Debate: Michael Bloomberg Promises $4.5 Million to Uphold Paris Deal

Michael Bloomberg, the former Mayor of New York, is no stranger to controversy. The billionaire philanthropist recently got the eye of the paparazzi once he pledged to dedicate $4.5 million that the US had promised to contribute annually once it penned the Paris climate accord. Earlier on, President Trump visibly withdrew the US from the deal.

The Paris pact was agreed upon by 197 nations in 2015 following rigorous talks in Paris. In the meeting, all countries voluntarily pledged significant cuts in their carbon emissions by 2030

Objectively, the Paris agreement was centered on limiting the mean global warming rate caused by greenhouse gases emanating from the burning of fossil fuels at sub-two degrees Celsius temperatures above pre-industrial levels.

Man on a Mission

At present, Bloomberg serves in the capacity as the United Nations’ special envoy for climate action. Thus, it’s no surprise that he sought to put his monies to good utility by pledging the substantial amount to cover the US.

His actions came in the wake of Congress announcing that it would only be willing to part with $3 million this year, payable to the UN Climate Change Secretariat. Previously, the US had made a habit of contributing $7.5 million per annum.

While addressing the press, Bloomberg made sure to point out that all Americans have a responsibility to act once the government fails to do so. Admittedly, he also confessed that having the financial muscle to fund the initiative compelled him to contribute

As a show of defiance and sheer will, Bloomberg expressed that should America once again fall short on its promise, he would honor the pledge. However, he remains hopeful that President Trump will get his act together by changing his mind and rejoining the Paris accord.

Patricia Espinosa, the executive secretary of the UN Climate Change Secretariat made a point of praising Bloomberg’s pledge through a twitter post.

Global Issue

Given the fact that climate change has been facing the world over the last couple of years, he’s optimistic that Trump will come to the realization that climate change is happening on a world level. According to him, the fact that America has the resources to help-out together with other nations to avert disaster should be sufficient motivation going forward.

Just last year, Trump withdrew the US from the Paris pact. In doing so, he fulfilled part of his campaign promise and dealt a heavy blow to America’s participation in the climate change conversation. Prior to the withdrawal, Trump argued that the current policies in place were unfair to the world’s largest economy, America. It is imperative to note that the president’s party, the Republican Party has strong ties to the fossil fuel industry.

In the last couple of months, Scott Pruitt, the Environmental Protection Agency head and Ryan Zinke, the Interior Department chief have been hard at work trying to undo existing environmental laws

Unfair

Trump cut the funding the US pledged to spend on the Green Climate Fund after citing that it was an expensive undertaking. Initially, the US had promised to part with as much as $3 billion. The money was intended to help poor countries deal with the effects of climate change whilst adapting to it.

Importantly, Bloomberg has played a key role in redeeming America’s image after the government withdrew from the Paris accord. In collaboration with Jerry Brown, the California Governor, they managed to launch the America’s Pledge initiative, which is a combined effort of a number of states and businesses striving to meet US commitments under the deal.

In a press release, Bloomberg daid that the foundation would strive to fulfil missed funding promises by the federal government of America by contributing to the UN Climate Change.