'UNITED NATIONS, Sept 20 (Reuters) - Former New York City Mayor Michael
Bloomberg announced on Wednesday he will pump $500 million into the next phase
of his energy transition campaign, aiming to shut down "every last" coal plant
in the United States and slash gas-fired capacity in half by 2030.
The $500 million infusion into his decade-long Beyond Carbon initiative aims to
"finish the job on coal" by working with state and local organizations to force
the closure of the roughly 150 coal plants that have not yet retired, slash
current gas generation in half and block the construction of new gas-fired
Bloomberg already has spent over $500 million to support the Sierra Club's
Beyond Coal campaign, which originally aimed to retire 30% of the U.S. coal
fleet by 2020. The campaign ended up accelerating the retirement of over 60% of
coal plants by that year and putting $85 million toward a similar mission to
fight the expansion of petrochemical plants in the U.S.
"By working with our partners across the country, we hope to transform the way
we power America by moving beyond fossil fuels and replacing them with
renewable energy," said Bloomberg, who is the U.N. Special Envoy on Climate
Ambition and Solutions.
The money would support litigation brought against utilities and power
companies by grassroots groups, state and local policy advocacy and financing
to assist local communities with coal plant closures, Bloomberg Philanthropies
U.N. Secretary-General Antonio Guterres told a climate summit at the annual
high-level U.N. General Assembly that time was running out to tackle climate
change, thanks in part to the "naked greed" of fossil fuel interests.'
Via Future Crunch
*** Xanni ***
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