In the 60 days leading up to COP26 in Glasgow, we took 85 actions across Bloomberg to accelerate climate progress in support of the UN’s climate agenda. And we didn't slow down when COP kicked off earlier this week. On the ground in Glasgow, Mike packed in meetings with global leaders from government and business, called for organizations and institutions around the world to set ambitious climate goals, and announced support for a number of vital efforts to turbocharge the fight against climate change. This edition of the Impact Newsletter shares highlights from COP26, and showcases the initiatives and partners who helped ensure that we made real progress in Glasgow. — Bloomberg Philanthropies
The gathering in Glasgow has been extraordinarily consequential for the future of the planet. Mike spent his days meeting with world leaders, convening with partners, and focused on his top priorities as UN Special Envoy: accelerating the clean energy transition, elevating local climate action, and mobilizing climate finance. Watch the video recap. 
In Glasgow, Mike announced the next phase of Bloomberg Philanthropies' global coal work — an effort to close a quarter of the world's 2,445 remaining coal plants and cancel all 519 proposed coal plants by 2025. After successfully helping retire two-thirds of coal-fired power plants in the U.S. and half in Europe, we are expanding to 25 new countries across six continents. As Mike wrote this week in an opinion piece for Yahoo! Finance: “The single greatest cause of climate change is burning coal. More than any other pollutant, coal has the power to defeat us in the battle to stop temperatures from rising to catastrophic levels." Read the op-ed, watch a video featuring Mike's announcement in Glasgow, and learn more about the expanded efforts to end coal use globally.
The Biden-Harris Administration and non-federal leaders from America Is All In came together at COP26 to celebrate the re-engagement of the U.S. federal government in the global climate effort, and show the momentum across sectors for ambitious climate action. Bloomberg Philanthropies is committing $10 million in funding to ensure that a whole-of-society approach continues as the U.S. works to pass and implement climate policies, and cities, states, businesses, and other organizations collaborate on climate research, campaigns, and advocacy.
In Glasgow, Los Angeles Mayor Eric Garcetti announced the successful delivery of the UN-backed Race to Zero campaign — with over 1,000 cities committed — before handing the baton over to C40 Chair-elect London Mayor Sadiq Khan, who outlined his bold new vision for what cities can deliver in the fight against climate change.
Mike will serve as co-chair along with Mark Carney to lead the Glasgow Financial Alliance for Net Zero, a private sector-led initiative anchored in the Race to Zero framework. The alliance — which includes more than 450 financial institutions representing over $130 trillion in assets across 45 countries — is committed to accelerating and mainstreaming the decarbonization of the world economy and reaching net-zero emissions by 2050. The two co-chairs also penned an opinion piece about financing the transition to clean energy.
Learn more → | U.S. Treasury Secretary Janet Yellen and Mike convened senior business leaders to discuss green challenges, innovations and future solutions. Thousands of organizations — from businesses to governments to civil society — are committed to reducing their carbon footprints in line with the Race to Zero Campaign. In particular, hundreds of global financial institutions have made net-zero commitments. As Mike tweeted: "Business leaders understand that climate change isn't just an environmental threat. It's an economic threat."
Learn more about Race to Zero→ |
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