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Michael R. Bloomberg Doubles Down with Additional $500M to Help End Fossil Fuels and ...
Foundation: Bloomberg Philanthropies
"By working with our partners across the country, we hope to transform the way we power America by moving beyond fossil fuels and replacing them with renewable energy," UN Special Envoy on Climate Ambition and Solutions Michael Bloomberg says in a press release announcing the expansion of his Beyond Carbon campaign to fight climate change.
The former New York City mayor says the $500 million commitment will help close all remaining coal plants, slash gas plant capacity in half, and block all new gas plants by 2030, the New York Times reports.
Since 2011, Bloomberg's campaign has helped close more than 70% of coal plants and stopped more than 30% of planned gas capacity, according to the press release.
"The US is now at a pivotal momentwithout rapid progress on clean energy, we will fail to meet our US climate targets, and public health risks will skyrocket," Bloomberg says.
"By working with our partners across the country, we hope to transform the way we power America by moving beyond fossil fuels and replacing them with renewable energy."
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