As official partners of COP26, the UN’s climate conference in Glasgow, Scotland, Bloomberg Philanthropies and Bloomberg L.P. rolled out 85 climate actions in the 60 days leading up to the conference to support the UN’s climate agenda. Among many more, these actions included:
- Committing new funding to strengthen capacity to fight climate change across the UN and promote ambition and solutions
- Joining a first-of-its-kind alliance of more than 20 philanthropic organizations to support efforts to drastically cut global methane emissions
- Launching a new Climate Innovation Fund in partnership with Goldman Sachs and the Asian Development Bank to accelerate the transition to clean energy in South and Southeast Asia
Mike Bloomberg, the UN Secretary-General’s Special Envoy for Climate Ambition and Solutions, joined world leaders and climate advocates at the conference. At the summit, Mike:
- Announced a major expansion of Bloomberg Philanthropies’ work to end coal around the world
- Joined White House National Climate Advisor Gina McCarthy and non-federal leaders to champion federal and local climate partnership and announce additional support for America Is All In
- Joined Prince William, The Duke of Cambridge, in hosting the finalists and winners of The Earthshot Prize, to whom Mike serves as Global Advisor
- Was announced as co-chair of the Glasgow Financial Alliance for Net Zero (GFANZ)
- Supported the launch of the Beyond Oil and Gas Alliance, a new coalition advancing the phase-out of oil and gas production
Learn more about Bloomberg Philanthropies’ support for international climate action.
Over the last three years, the initiative’s partners have helped pass 17 policies in 12 countries and nearly 100 additional state or local policies to safeguard coastal ecosystems and local economies. This work has also helped protect more than 9.3 million square miles of ocean – nearly three times the land area of the United States. As part of the global effort to improve transparency, eight countries have now committed to publishing fishing data on Global Fishing Watch. Data is also available on the Bloomberg Terminal.
Mobilizing Markets to Tackle Climate Change
Bloomberg Philanthropies supports efforts to bring greater transparency to the financial impacts of climate change. This work focuses on improving companies’ disclosure of risks associated with climate change, advancing emissions reduction goals across markets and financial institutions, and helping mobilize capital to finance the transition to clean energy.
Partner organizations advancing this work with Mike Bloomberg’s leadership and support include the Task Force on Climate-related Financial Disclosures (TCFD), the Glasgow Financial Alliance for Net Zero (GFANZ), the Climate Finance Leadership Initiative (CFLI), and the Value Reporting Foundation (VRF), formerly the Sustainability Accounting Standards Board. In 2022, the Value Reporting Foundation will consolidate under the International Financial Reporting Standards Foundation, which has established the International Sustainability Standards Board to create new global sustainability disclosure standards for financial markets.