Former New York Mayor and UN Special Envoy on Climate Change Michael Bloomberg, along with other U.S. funders, announced they will cover the United States’ financial commitments to the UN climate framework after President Donald Trump again called for the U.S. to withdraw from the Paris Agreement. Bloomberg Philanthropies will pay the annual contributions owed to the United Nations Framework Convention on Climate Change (UNFCCC) and ensure U.S. compliance with emissions reporting, countering federal disengagement.
“From 2017 to 2020, during federal inaction, cities, states, businesses, and the public upheld our nation’s commitments—and now, we are ready to do it again,” Bloomberg said. His organization is also supporting local leaders, emissions tracking, and public-private coalitions to sustain U.S. climate efforts.
Trump’s decision to withdraw from the Paris Agreement and halt international climate funding was among his first executive orders. To bridge the gap, U.S. states, cities, and businesses pledged to meet the Paris climate goals independently.
The U.S. recently paid its 7.2 million euro ($7.4 million) annual contribution to the UNFCCC for 2024 and cleared 3.4 million euros in arrears from 2010-2023. The UNFCCC, established under a 1992 treaty, coordinates global climate actions and organizes accountability summits. It faces a significant budget shortfall, highlighting the importance of these contributions for maintaining international climate initiatives.
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