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John,

Last week in New York City, government officials from around the globe,
corporate executives from some of the world's largest companies, community
organizers and climate activists, and many others came together for Climate
Week and the 78th session of the UN General Assembly. Over the course of
multiple days filled with big events, high-level meetings, keynote speeches,
art installations, and panel discussions, one thing was indisputable: This is a
time for action.

So, what happens now? In this edition of the Impact Newsletter, we're sharing
highlights of Climate Week, but with a focus on the actions and impacts that
will come from the events and announcements we led and were part of. Those
include announcingthe 2023 Earthshot Prize finalists
<[link removed]>, whose
innovative projects are targeted at making a difference by the end of this
decade; sharing progress being made on the ground toclose coal more plants
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andstop the construction of petrochemical plants
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; and kicking off our annualCountdown to COP28
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. Also, hear why Mike believesthis year's COP needs to focus "on the here and
now" with a goal of major emissions cuts by 2030
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.

As Mike said in his opening remarks at the Earthshot Prize Innovation Summit
<[link removed]>, "The climate crisis is
no longer some far-off menace. It's here, right now. And the effects are only
getting worse." Keep reading to find out how we and our partners are stepping
up in a moment that calls for real action.

— Bloomberg Philanthropies


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The Topline
Key data points from Climate Week

For the 2023 Earthshot Prize, 15 finalists were recognized for their
innovative solutions
<[link removed]> that
will make a difference before the end of the decade.

372 of the 530 U.S. coal plants have announced plans to retire or have
closed. With a new $500 million investment,Beyond Carbon will work to close the
rest
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— while quadrupling clean energy on the grid and halving gas use by 2030.

After a year of working with communities fighting to put people over
pollution,Beyond Petrochemicals has stopped the construction of five
petrochemical plants
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.

With 64 days until COP28 in the UAE, our Countdown to COP28 already includes
25 climate actions
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.



The Earthshot Prize Innovation Summit
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At this year's Earthshot Prize Innovation Summit, speakers included Earthshot
Prize Founder and President HRH Prince William, World Trade Organization
Director-General Dr. Ngozi Okonjo-Iweala, H.E. Dame Jacinda Ardern, actor and
activist Nomzamo Mbatha, Bill Gates, Mike and others. The presentation also
introduced the 2023 finalists and their cutting-edge solutions in the five
Earthshots:Clean Our Air
<[link removed]>, Protect
and Restore Nature
<[link removed]>, Revive
Our Oceans <[link removed]>
,Build a Waste-Free World
<[link removed]>, and Fix
Our Climate
<[link removed]>. The
winners will be announced in November.

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WATCH NOW <[link removed]>



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Watch Panels from the Earthshot Prize Innovation Summit
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Mike's opening remarks
<[link removed]> | Charlot
Magayi and Nomzamo Mbatha
<[link removed]> | H.E.
Dame Jacinda Ardern, Larissa Hale, and Kaushik Kappagantulu
<[link removed]> | Dr.
Vivian Balakrishnan
<[link removed]> | 2022
Earthshot Prize winners Rodrigo García González and Pierre Paslier
<[link removed]> | Bill
Gates, Talal Hasan, and Emily Chang
<[link removed]> | Dr.
Ngozi Okonjo-Iweala
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Prince William and Vaitea Cowan
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Meet the 2023 Earthshot Prize Finalists
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Clean Our Air
<[link removed]> | Protect
and Restore Nature
<[link removed]> | Revive
Our Oceans <[link removed]->
|Build a Waste-Free World
<[link removed]> | Fix Our
Climate <[link removed]>



Accelerating Climate Investments
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One of the fastest paths to meaningful climate progress is to ramp up public
and private sector investment in clean energy adoption. "Turning the tide on
climate change is not a technological challenge," said Mike as he opened the
Bloomberg Transition Finance Action Forum during Climate Week. "For the most
part it is a financial challenge." Leaders at the Forum unequivocally committed
to accelerating action toward the net-zero transition and spoke about what was
needed to identify risks and seize opportunities. Watch remarks from President
of the European Commission Ursula von der Leyen, U.S. Secretary of the
Department of the Treasury Janet Yellen, UN Special Envoy for Climate Action
and Finance and Co-Chair of GFANZ Mark Carney, Minister of Finance of Brazil
H.E. Hernando Addad, and others on the urgent need to swiftly deploy climate
finance.


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WATCH NOW
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Watch Panels from the Bloomberg Transistion Finance Action Forum
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Mike's opening remarks <[link removed]> | President
of the European Commission Ursula von der Leyen
<[link removed]> | U.S. Secretary of the
Department of the Treasury Janet Yellen
<[link removed]> | Panel with UN Special
Envoy for Climate Action and Finance and Co-Chair of GFANZ Mark Carney; MSCI
Chairman & CEO Henry A. Fernandez; HSBC Group CEO Noel Quinn; and Prudential
plc Chair and World Bank Private Sector Investment Lab Co-Chair Shriti Vadera
<[link removed]> | H.E. Hernando Addad in
Conversation with Mark Carney
<[link removed]> | GFANZ Vice Chair and
Bloomberg Global Public Policy Vice Chair Mary Schapiro
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Going Beyond Carbon and Beyond Petrochemicals
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At Climate Week, we announced that Mike is investing an additional $500
million in the Beyond Carbon campaign. After helping to retire more than 70% of
U.S. coal plants, Beyond Carbon will use the additional support to work on
closing the remaining plants, quadruple the amount of clean energy on the grid,
and halve gas use by 2030.

READ MORE ABOUT DOUBLING DOWN ON BEYOND CARBON
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<[link removed]>

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Read coverage of Mike's Beyond Carbon investment in Politico Pro (subscription
may be required) →
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Last week also marked one year since the beginning of the Beyond
Petrochemicals campaign. By bringing local organizers and activists together
with lawyers, scientists, and researchers, Beyond Petrochemicals has already
blocked the construction of five significant petrochemical plants in the United
States. They're putting people over pollution, and helping communities protect
their health and homes from dangerous emissions.

LEARN MORE ABOUT BEYOND PETROCHEMICALS YEAR OF ACTION
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Read about Mike's climate investments and Beyond Petrochemicals in the New
York Times →
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Looking Ahead: Countdown to COP28
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This year's UN Climate Change Conference, COP28, kicks off on November 30th in
the United Arab Emirates. Ina Politico opinion piece published on the first day
of Climate Week
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, Mike wrote that the focus of this year's meeting "cannot be 2050 or 2040 or
even 2035. It must be on the here and now, and it must produce new action that
will dramatically reduce emissions by 2030."

READ MIKE'S MESSAGE ON COP28 AND CLIMATE ACTION
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One key to the success of COP28 and climate progress will be the inclusion of
cities, states, businesses, and other local climate action leaders in the
meeting. Last week Mike and COP28 President-designate Dr. Sultan Ahmed Al Jaber
announced theCOP28 Local Climate Action Summit
<[link removed]>
, which will take place December 1-2 and officially bring subnational leaders
into the COP program and process for the first time ever. Hosted by the COP28
Presidency and Bloomberg Philanthropies, the Summit will aim to bring together
hundreds of subnational climate leaders who are increasingly critical in
helping national governments reach emissions reduction targets and net-zero
ambitions while building resilient and future-proof economies and societies.

READ MORE ABOUT THE COP28 LOCAL CLIMATE ACTION SUMMIT
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Read about the Local Climate Action Summit announcement in Axios →
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The announcement of the COP28 Local Climate Action Summit was among the first
actions of the Bloomberg-wide Countdown to COP28, an annual effort designed to
turbocharge climate progress from public, private, and civil society actors
around the world before each COP. This year, Bloomberg L.P., Bloomberg
Philanthropies, and our partners will countdown the days until COP28 with a
series of initiatives, reports, and partnerships.

LEARN MORE ABOUT THE COUNTDOWN TO COP28
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More Stories

Lisa P. Jackson joins America Is All In as Co-chair
<[link removed]>

Explore the UN Sustainable Development Goals Pavilion using the free Bloomberg
Connects App <[link removed]>

Know someone who would be interested in the Impact Newsletter? Forward this
email ortell them to subscribe at Bloomberg.org.
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About our work

Bloomberg Philanthropies invests in 700 cities and 150 countries around the
world to ensure better, longer lives for the greatest number of people. The
organization focuses on five key areas for creating lasting change: the Arts,
Education, Environment, Government Innovation, and Public Health.


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Public Health

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Education

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Government
Innovation

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Environment
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The Arts

Bloomberg Philanthropies encompasses all of Michael R. Bloomberg's giving,
including his foundation, corporate, and personal philanthropy as well as
Bloomberg Associates, a pro bono consultancy that works in cities around the
world. In 2022, Bloomberg Philanthropies distributed $1.7 billion.

Learn more at Bloomberg.org
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Click here to stop receiving the Bloomberg Philanthropies Impact Newsletter
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