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Michael Bloomberg will pay US$4.5 million to the UN Climate Change Secretariat in a bid to make sure that the United States upholds its commitment to the Paris Agreement despite the fact that President Donald Trump pulled out of the deal a year ago.
President Trump's planned withdrawal from the landmark Paris Agreement past year has galvanised action in support of climate action. Trump has also proposed deep budget cuts for worldwide programs, including ones on climate.
"America made a commitment, and as an American, if the government's not going to do it, we all have responsibility", Bloomberg said Sunday on CBS" "Face the Nation'. Bloomberg said that all Americans share the responsibility to uphold deals the government makes, and that since he is able to, he would send a check to the organization as though nothing had changed.
Bloomberg, who has an estimated net worth of $50.9 billion, is the UN Secretary-General's special envoy for climate action.
At a statement Sunday, Bloomberg's charity Bloomberg Philanthropies Stated the $4.5 million goes towards the operations of this UN Climate Change Secretariat.
He also provided the majority of the funding for the US Climate Action pavilion in Bonn, Germany at COP23 when the government failed to provide the traditional exhibition space for American climate leadership.
"A person that doesn't change their mind isn't very smart", the Jewish billionaire said, adding that Trump "should change his mind and say, look, there really is a problem here". America is part of the problem.
The Paris climate accord was struck exactly two years ago under the then Barack Obama administration in the U.S. and saw 195 countries committing to reduce carbon emissions to slow down a threatening climate change.
Patricia Espinosa, the executive secretary of the UN Climate Change Secretariat, welcomed the contribution.
Bloomberg has been instrumental in efforts to make up the US government's failure to keep commitments under the Paris deal.
Bloomberg, who has long championed the fight against global warming, will make up the shortfall in the agency's budget caused by US funding cuts.
Bloomberg said the EPA administrator's job "is to protect the environment and he has walked away 100 percent from that saying, 'The environment doesn't need protection".
"His policies are not good for the world".