Former New York City Mayor Michael Bloomberg has announced a significant investment of $500 million in his Beyond Carbon campaign, with the aim of shutting down the remaining 150 coal plants in the United States and reducing gas usage by half by 2030. This initiative builds on the success of the campaign, which has already contributed to closing down approximately 70% of coal plants in the country.
The Beyond Carbon campaign focuses not only on shutting down existing coal plants but also on preventing the construction of new gas plants. To achieve these goals, the funding will support research, studies, and data analysis to provide accurate information to partnering organizations and officials for informed decision-making. Additionally, the funding will back local policy and advocacy efforts and support litigation against power companies.
Bloomberg’s philanthropic endeavor aims to accelerate the transition to renewable energy sources and clean jobs while addressing the urgent need to reduce emissions from fossil fuels and combat climate change. This initiative aligns with his long-standing commitment to environmental and climate causes. During his tenure as New York City mayor, Bloomberg promoted sustainable transportation options, including increased biking infrastructure and the launch of the Citi Bike system in 2013.
Environmental organizations, such as the Sierra Club, have praised Bloomberg’s efforts and financing as crucial in the fight against climate change. The campaign’s success in closing down coal plants has exceeded its initial goal of retiring 30% of coal plants by 2020, thanks to nationwide support and Bloomberg’s early $500 million investment.
Bloomberg’s commitment to environmental causes extends beyond the Beyond Carbon campaign. He has also financed initiatives aimed at preventing the expansion of petrochemical plants producing packaging, plastics, and fertilizers. His $85 million campaign, Beyond Petrochemicals, seeks to block over 120 proposed petrochemical projects in regions like Louisiana, the Ohio River Valley, and Texas.
In the face of the rapidly warming climate, Bloomberg’s investments and advocacy efforts underscore the urgency of transitioning to clean energy and reducing reliance on fossil fuels for a sustainable future.
https://gizmodo.com/michael-bloomberg-500-million-shut-down-coal-plants-1850861082