As during his first term, US President Donald Trump made good on his announcement and ordered his country to withdraw from the Paris Climate Agreement by decree. Washington does not feel bound by the obligations attached to the agreement, including financial ones. This is a major blow to global efforts to slow global warming. At least one American millionaire now wants to close the financing gap with his own resources.
Entrepreneur and former mayor of New York Michael Bloomberg announced on Thursday that he wants to make up for the missing contributions from the US with the help of his foundation. From 2017 to 2020, cities, states, businesses and the public stood up for America’s commitments “during a period of federal inaction” — “and now we’re ready to do it again,” Bloomberg said.
The US provides 22 percent of the UN climate budget
The US typically provides 22 percent of the UN Climate Secretariat’s budget, whose operating costs for 2024 and 2025 are estimated at €88.4 million. After the US withdrew from the Paris climate agreement for the first time in 2017, Bloomberg pledged up to $15 million (about €14 million) to support the UN climate agency.
According to UN Climate Secretary Simon Stiell, these types of contributions are “critical to enable the UN Climate Secretariat to help countries meet their obligations under the Paris Agreement and promote a low-carbon, resilient and secure future for all .”
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
