“Coal is enemy number one in the battle for climate change because it causes a third of all carbon emissions,” Bloomberg said in a statement. He did not say how much money he intended to spend on the plan, but spends about $ 150 million annually on efforts to shut down coal in the United States and Europe, according to Bloomberg Philanthropies.
The Secretary-General of the United Nations has asked phase out coal energy by 2030 in rich countries and by 2040 in all other countries.
The effort will not be easy. At Group of 20 summit in Rome on Sunday, the leaders of the world’s richest economies agreed to end funding for coal-fired power plants abroad at the end of this year, according to the final text of its communiqué.
But they fell short of agreeing to stop using coal power in their own countries, with Australia, India, China and Russia pushing hard against a deadline.
“We are not committed to those kinds of mandates and prohibitions,” Prime Minister Scott Morrison of Australia said in Rome. “That is not the policy of the Australian government; it will not be the policy of the Australian government. “