Bloomberg Pledges to Cover U.S. Paris Agreement Obligations After Trump’s Exit

Michael Bloomberg, founder of Bloomberg LP and UN Special Envoy for Climate Ambition and Solutions, has announced that Bloomberg Philanthropies, along with other climate funders, will step in to fulfill the U.S.' obligations under the Paris Agreement. This includes funding the UNFCCC (United Nations Framework Convention on Climate Change) and supporting U.S. emissions reporting, following the U.S.’ withdrawal from the accord under President Trump.

This pledge marks Bloomberg’s second commitment to fill the gap left by a U.S. exit from the Paris Agreement. Bloomberg and former California Governor Jerry Brown had previously launched "America’s Pledge," aggregating subnational climate efforts to align with the accord.

Bloomberg Philanthropies will also continue its support for "America Is All In," a coalition of local governments, businesses, and organizations working toward the U.S.’ 2035 goal of reducing emissions by 61–66% below 2005 levels.

Simon Stiell, UN Climate Change Executive Secretary, praised the commitment, stating: "Contributions like this are vital for enabling the UN Climate Change secretariat to support global climate action."

Michael Bloomberg emphasized the importance of continued action, saying: “Americans remain determined to fight climate change, and this initiative ensures progress, even in the absence of federal leadership.”

The announcement underscores the growing role of private and subnational actors in advancing climate goals amidst political uncertainties.