Economy

Bloomberg donates $64M to fight Trump's coal agenda

Bloomberg donates $64M to fight Trump's coal agenda”

Billionaire Michael Bloomberg announced Wednesday that he will donate $64 million to environmental organizations after the U.S. government moved to roll back Obama-era measures to counter climate change.

Former New York Mayor Michael Bloomberg's foundation is donating $64 million to a Sierra Club program seeking to phase out coal-fired power plants and reduce planet-warming carbon emissions.

The statement also contributes to 42 percent of number of coal plants in United States since 2011, when Bloomberg Philanthropies contributed to "Beyond Coal" environmental programme, and for those who lost ir lives due to coal pollution The decline was recorded.

According to bloomberg.com, the new funds are meant to support groups working with mayors, governors, utility regulators and private sector leaders to "develop, implement and strengthen policies" that make it easier for solar and wind power to compete, according to a news release.

The donation was announced a day after the administration of President Donald said it would propose a repeal of former President Barack Obama's Clean Power Plan that sought to combat climate change.



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