Bloomberg pledges $ 500 million for the closure of coal-fired power plants

Former Mayor of New York Michael BloombergMichael Rubens BloombergThe Hill & # 39; s 12:30 Report: Judges waive important abortion decision despite pressure Robert Smith's gift to Morehouse graduates and its significance for education, in especially the black colleges On Thursday, he pledged to donate $ 500 million for the closure of the country's coal plants by 2030 to combat climate change.

"I will commit $ 500 million to launch @BeyondCarbon, the largest coordinated campaign ever undertaken to address the climate crisis that our country has experienced," he tweeted on Thursday. "This is the struggle of our time."

Building on the success of the Beyond Coal campaign, I am committing $ 500 million to the launch of @BeyondCarbon the largest coordinated campaign ever undertaken to address the climate crisis that our country has experienced. It's the fight of our time. https://t.co/FDkWBGo6zx

– Mike Bloomberg (@MikeBloomberg) June 7, 2019

According to its website, Beyond Carbon works with child rights advocates "to build on the leadership and climate change underway in our states, cities and communities to maximize progress on climate change. ".

The initiative aims to bring the country back to the path of a totally clean energy economy "and to ensure that after the 2020 elections, the next administration inherits from a country already on the path to a clean energy economy ".

The billionaire's investment in the Beyond Carbon initiative is the largest philanthropic effort ever undertaken to fight climate change, the Associated Press said.

A Bloomberg spokesman told the New York Times in a statement that most of the money would be spent over a period of three years and would be used for lobbying efforts of environmental groups from state and city governments and public utility commissions. Part of the funding will also go to the election of local officials who focus on clean energy.

"We are in a race against climate change, yet there is virtually no hope for bold action by the federal government on this issue for at least two years. Mother Nature does not expect our political calendar, and we can not, either, "Bloomberg said, according to the media.

According to the Times, more than 280 US coal plants have closed or announced their closure since 2010. The Bloomberg campaign hopes to close the remaining 241 plants by 2030.

Bloomberg's plan comes as climate change occupies a central place in the race for the Democratic presidency of 2020. Although it has finally decided not to enter the crowded primary field, Bloomberg's plan will likely incite candidates to present more concrete political positions on the issue of climate change.