[1/2] Former mayor of New York Michael Bloomberg speaks during a meeting with Earthshot prize winners and finalists at the Glasgow Science Center during the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 2, 2021.
The $500 million infusion into his decade-long Beyond Carbon initiative aims to "finish the job on coal" by working with state and local organizations to force the closure of the roughly 150 coal plants that have not yet retired, slash current gas generation in half and block the construction of new gas-fired plants.
Bloomberg already has spent over $500 million to support the Sierra Club's Beyond Coal campaign, which originally aimed to retire 30% of the U.S. coal fleet by 2020.
The money would support litigation brought against utilities and power companies by grassroots groups, state and local policy advocacy and financing to assist local communities with coal plant closures, Bloomberg Philanthropies said.
Reporting by Valerie Volcovici; Editing by Katy Daigle and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.
Persons:
New York Michael Bloomberg, Alastair Grant, Michael Bloomberg, Bloomberg Philanthropies, U.N, Antonio Guterres, Valerie Volcovici, Katy Daigle, Grant McCool
Organizations:
New York, Glasgow Science Center, Change, UNITED NATIONS, Former New York City, Bloomberg, Sierra, General Assembly, Thomson
Locations:
Glasgow, Scotland, Britain, United States, U.S, America