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Michael Bloomberg Unveils $500 Million Initiative to Help Shutter the Nation's Coal-Fired Plants
Written by <a href="index.php?option=com_comprofiler&task=userProfile&user=50954"><span class="small">Nick Visser, Grist</span></a>   
Monday, 10 June 2019 08:30

Visser writes: "Former New York Mayor Michael Bloomberg will donate $500 million to fund a new initiative to shut down every remaining coal-fired power plant in America by 2030, a high-powered effort to counter the pro-fossil fuel agenda emanating from the White House, his foundation said Thursday."

Michael Bloomberg. (photo: Scott Eisen/Getty Images)
Michael Bloomberg. (photo: Scott Eisen/Getty Images)


Michael Bloomberg Unveils $500 Million Initiative to Help Shutter the Nation's Coal-Fired Plants

By Nick Visser, Grist

10 June 19

 

ormer New York Mayor Michael Bloomberg will donate $500 million to fund a new initiative to shut down every remaining coal-fired power plant in America by 2030, a high-powered effort to counter the pro-fossil fuel agenda emanating from the White House, his foundation said Thursday.

“We’re in a race against time with climate change, and yet there is virtually no hope of bold federal action on this issue for at least another two years,” Bloomberg told The New York Times in a statement. “Mother Nature is not waiting on our political calendar, and neither can we.”

The Times said the $500 million would be spent over the next three years and fund lobbying efforts within local governments in an effort to help states transition to renewable energy. Some of the money will also go toward election campaigns for candidates who focus on clean energy. The funding will also be spent to help wean America off natural gas.

The new campaign will be called Beyond Carbon and stem from Bloomberg’s previous support of the Sierra Club’s Beyond Coal initiative. It is the largest ever philanthropic donation to combat climate change, The Associated Press noted, and will be officially unveiled Friday.

Bloomberg, who has ruled out a bid for the presidency, has already donated some $150 million to the Sierra Club and other groups.

Coal-fired power plants have been on the decline in America for years, and about half of the 530 plants in the U.S. have been shuttered since 2011. America has instead been far more reliant on natural gas, which now accounts for about 35 percent of all electricity generation in the country.

But President Donald Trump has continued to tout the benefits of coal and promised to save the ailing industry while rolling back many environmental regulations meant to rein in pollution.

Bloomberg’s initiative is meant to bypass the federal government, akin to the efforts of many states that have promised to use their own legislative and financial power to tackle climate change, whether or not the Trump administration does.

In a message posted to Twitter, the former mayor called the effort the “largest-ever coordinated campaign to tackle the climate crisis our country has ever seen.”

“This is the fight of our time,” he wrote.

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+7 # Thinking 2019-06-10 12:37
One individual contributes $500 million to solving climate change.

What if the US population of 300 million each contributed $2? And coordinated? Or contributed $10?

We don't have to be held back by the federal government's inaction.
 
 
-8 # BKnowswhitt 2019-06-10 14:26
Bloomberg northeast politio ELITE .. caring for his big money he can't take with him . Coal fires most of third world and they have made it cleaner .. trying to squash an industry via lies (global warming climate change via Carbon - the Carbon LIE) forcing that on us all. What 'lies' within this is that about saving his own ass same with Prince charles and the british elites .. financial well to do's who want to use the government to regulate the market place to their own ends whether it be ideological or real .. save their own asses as they perceive the false 'crisis' ...
 
 
0 # Texas Aggie 2019-06-10 17:44
Huh??? Are you feeling well?

Seems to me that he is taking to heart Andrew Carnegie's dictum that "The man who dies thus rich dies disgraced" - Andrew Carnegie
 
 
+2 # Wise woman 2019-06-10 18:52
Stupid is in this case as stupid thinks and writes about.

I think "Thinking's" post is an excellent idea that should sent to Beyond Carbon. Imagine if every billionaire in this country donated the same thing. Wouldn't it be lover!y? And perhaps save the planet!