Billionaire Michael Bloomberg's foundation has said it will step in to fund America's financial obligations to the UN climate change body, after Trump called for the US to withdraw from the Paris Agreement for a second time.
In one of many executive orders, signed on his first day back in office, Trump said he would end all US international climate financial commitments.
Bloomberg, who serves as the UN's special envoy for climate change, says his intervention is aimed at ensuring that the United Nations Framework Convention on Climate Change remains fully funded.
“From 2017 to 2020, during a period of federal inaction, cities, states, businesses and the public rose to the challenge to support our nation’s commitments, and now, we are ready to do it again,” he says.
During his first term as president, Trump made the US the first country in the world to formally withdraw from the Paris climate agreement, a 2015 agreement to strengthen the global response to the threat of climate change. Upon taking office, his successor, Joe Biden, reversed the decision.
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