Trump Admin’s Failure Prompts Bloomberg To Pledge $15M To Uphold Paris Agreement

The world was rocked recently when President Donald Trump announced that he would be pulling the US from the Paris Climate Agreement. While everyone else was busy puttering around the issue, billionaire Michael Bloomberg stepped up and pledged to provide the UN with the $15 million that the US was supposed to give as its share in the accord.

Bloomberg will be providing the money via his charity organization, Bloomberg Philanthropies, The Washington Post reports. The funds will then be provided to maintain the operations of the U.N. Framework Convention on Climate Change.

As the New York billionaire notes in his statement, America did not decide to pull out of the Paris agreement, this decision fell solely on Trump. On the contrary, the US will keep its word and continue cooperating with other countries even if it means the private sector and the local government units will have to take on most of the burden.

“Americans are not walking away from the Paris Climate Agreement. Just the opposite — we are forging ahead,” the statement reads. “Mayors, governors, and business leaders from both political parties are signing onto a statement of support that we will submit to the UN — and together, we will reach the emission reduction goals that the U.S. made in Paris in 2015.”

This declaration elicited worldwide praise, with the UN Climate branch’s executive secretary, Patricia Espinosa saying that the effort will go a long way towards making sure that the effort to reduce the damage caused by climate change is achieved. Government funding might play a huge role in actually getting the project going, but the private sector can still make considerable contributions.

As the former mayor of New York, Bloomberg already has a huge political influence. However, he isn’t the only figure in the local branches to oppose the exiting of the Paris agreement. The U.S. Conference of Mayors, which is composed of over 1,000 mayors has also made their opposition to the Trump administration’s decision quite clear.