Billionaire businessman Michael Bloomberg has announced a $50m (€43m) initiative to move the world away from coal dependency. The former Republican mayor of New York made his latest pledge to fund anti-coal campaigns to coincide with COP23 UN talks in Bonn.
The initiative is the first expansion by Bloomberg of his efforts to promote renewable energy. In the US, the media mogul has spent over $100m funding the Sierra Club’s Beyond Coal campaign through Bloomberg Philanthropies. The campaign claims to have encouraged the closure of more than half US coal plants since 2011.
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