Former New York Mayor Michael Bloomberg’s philanthropy arm announced last Thursday that it will provide funding to cover the U.S. contribution to the United Nations’ climate body, stepping in after United States President Donald Trump withdrew the country from the Paris Agreement and ended federal climate financing.
Bloomberg Philanthropies said it and other unnamed “U.S. climate funders” will ensure the United States meets its obligations to the United Nations Framework Convention on Climate Change, which runs the annual global climate negotiations.
The UNFCCC’s core budget relies on contributions from nearly 200 member countries. The U.S. has historically provided around 21% of this funding, paying 7.2 million euros for its 2024 required contribution, as well as 3.4 million euros in arrears from 2010-2023.
“Bloomberg Philanthropies and other U.S. climate funders will ensure the United States meets its global climate obligations,” the organization said in a statement.
Bloomberg, who also serves as a U.N. special envoy on climate action, pledged to work with states, cities and companies to uphold America’s climate commitments, stating: “From 2017 to 2020, during a period of federal inaction, cities, states, businesses, and the public rose to the challenge to uphold our nation’s commitments – and now, we are ready to do it again.”
The announcement comes after President Trump, in his first week back in office, said he would withdraw the U.S. from the Paris Agreement and end the country’s international climate funding. This marked a return to his previous position during his 2017-2021 term.