Former New York mayor Michael Bloomberg announced on Sunday that he will be covering the United States’ $4.5 million commitment to the Paris climate accord for 2018.
The accord was created to halt climate change by reducing the amount of greenhouse gases each nation emits. Each country is to lay out and follow a personalized plan and regularly report their progress.
The deal was agreed upon by 174 countries and the European Union before President Donald Trump pulled the U.S.’ support last June. When he announced the departure, he stated that he would be open to renegotiating the deal’s terms, but nothing has come of it.
It is important to mention that the U.S. cannot officially leave until Nov. 4, 2020, the day after the presidential election. This stipulation renders President Trump’s announcement pointless unless he is reelected.
Michael Bloomberg was the mayor of New York for 12 years, making him no stranger to the game of politics. Aside from his political experience, he is still incredibly influential due to his wealth. With a net worth of over $50 billion, Bloomberg ranks eighth in Forbes’ 400 richest.
“Our foundation will uphold our promise to cover any cuts to UN climate funding by the federal government,” Bloomberg said.
He does what a lot people hope they would do if they had access to billions of dollars. In addition to the $4 billion he has already donated to issues like climate change and gun control, he is a part of The Giving Pledge. Announced in 2010 by Bill Gates and Warren Buffett, all signatories pledge to donate half of their wealth to philanthropic causes.
“America made a commitment and, as an American, if the government’s not going to do it, then we all have a responsibility,” Bloomberg said. “I’m able to do it. So, yes, I’m going to send them a check for the money that America had promised to the organization as though they got it from the federal government.”