Bloomberg at COP27
Mike Bloomberg, UN Special Envoy for Climate Ambition and Solutions and founder of Bloomberg LP and Bloomberg Philanthropies, is participating in COP27 in Sharm El-Sheikh, Egypt, where representatives from over 190 countries are gathering to discuss progress being made on tackling climate change.
In the 45 days leading up to COP27, 92 climate actions were taken across Bloomberg LP, Bloomberg Philanthropies, and with partners in a series of initiatives and commitments aimed at delivering on UN Secretary-General António Guterres’ call for urgent, collective climate action leading into COP27. The Bloomberg Countdown to COP27 enhances awareness of key climate change challenges that will be addressed by the COP27 Presidency.
See how Bloomberg Philanthropies and Bloomberg LP are taking action at COP27 and beyond, working with partners to accelerate the clean energy transition, inspire local climate action, protect the ocean, clean the air, and mobilize climate finance.
Highlights from COP27: Protecting the Future of the Planet
News from COP27
Thursday, November 17, 2022
Bloomberg Philanthropies and BNEF Release Zero-Emission Vehicles Factbook: A BloombergNEF special report prepared for COP27
The analysis that shows the adoption of zero-emission vehicles (ZEVs) accelerated in the past year across almost all markets and vehicle segments, with passenger electric vehicle sales on track for more than 10 million units, up from 6.6 million in 2021. Electric vehicles of all types – including cars, buses, motorcycles, scooters, vans, and trucks – are expected to avoid almost 1.7 million barrels of oil use per day in 2022, up from 1.5 million barrels per day in 2021. These vehicles are currently eliminating 152 million metric tons of CO2 per year, with the biggest contribution coming from the large fleet of electric two- and three-wheelers in Asia.
Thursday, November 10, 2022
Climate Data Steering Committee announces next steps for groundbreaking net-zero public data utility, white paper recommendations
The Climate Data Steering Committee (the Committee) outlined next steps on its recommended plans for the Net-Zero Data Public Utility (NZDPU). The open-data public utility will collect and aggregate net-zero climate transition data by drawing on private sector climate commitments. The Committee intends that the NZDPU will bring transparency to efforts to transition to a net-zero economy by addressing data gaps, inconsistencies, and barriers to information that slow climate action. It will provide accurate, trusted and verifiable climate transition-related data, openly available in a single place for the first time.
Since its formation in June by French President Emmanuel Macron and UN Special Envoy for Climate Ambition and Solutions Michael R. Bloomberg, the Committee, chaired by Mary Schapiro, has released draft recommendations for the NZDPU and solicited feedback from a wide range of stakeholders and experts. Supported by Bloomberg Philanthropies, today’s final white paper lays out the key data challenges and sets out recommendations for necessary foundational data that is needed to help solve these challenges.
Wednesday, November 9, 2022
Africa Clean Energy Investment Sees No Post-Pandemic Rebound
Research from BloombergNEF (BNEF) – titled the Scaling-Up Renewable Energy in Africa: A NetZero Pathfinders report – finds that renewable energy investment in Africa trails far behind the rest of the world. Despite Africa’s outstanding natural resources, rapidly growing electricity demand and improving policy frameworks, only $2.6 billion of capital was deployed for new wind, solar, geothermal or other renewable power-generating projects in 2021, the lowest in 11 years. The continent accounted for just 0.6% of the $434 billion invested in renewables worldwide.
OP-ED: Data Can Unleash Massive New Green Investment (Bloomberg Opinion)
Mike writes that economies are growing rapidly across the developing world, which is producing a dramatic increase in energy demand. A central challenge facing leaders at COP27 this week is how to meet that growing demand — and deliver electricity to the nearly 1 billion people who still lack it — while also phasing out the power source that is a primary driver of climate change and a major cause of sickness and disease: coal plants.
Tuesday, November 8, 2022
New Report Reveals U.S. Cities, States, and Businesses Can Bridge an 11 Percent Emissions Reductions Gap and Deliver U.S. Climate Target, Regardless of Midterm Outcomes
America Is All In “Beyond 50” report shows the Inflation Reduction Act and existing policies will cut U.S. emissions by 39% and empower non-federal actors to take the U.S. beyond 50% emission cuts by 2030.
U.S. State Department And Bloomberg Philanthropies Announce Support For The Subnational Climate Action Leaders’ Exchange
Mike and Special Presidential Envoy for Climate John Kerry jointly announced the launch of the Subnational Climate Action Leaders’ Exchange (SCALE), a first-of-its-kind initiative to support cities, states, and regions in the development and implementation of net-zero, climate-resilient targets and roadmaps.
OP-ED: We cannot let governments off the hook on climate — nor can we wait for them (Politico EU)
Mike and CEO of the European Climate Foundation Laurence Tubiana write that a bottom-up, all-of-society approach could accelerate global progress on climate change in the US, Europe and beyond
Global Carbon Trust to Develop Necessary Market Infrastructure for Scaling the Voluntary Carbon Markets
New initiative will provide governance, increase the supply of credible projects, and facilitate the creation of standardized financial contracts to incentivize market participation.
FAST-Infra Announces FAST-Infra Sustainable Infrastructure® Label Secretariat and Data Repository
The FAST-Infra Group (Finance to Accelerate the Sustainable Transition-Infrastructure) announced that it has chosen Bloomberg L.P. and the Global Infrastructure Basel Foundation (GIB) to serve respectively as the Data Repository and Secretariat of the FAST-Infra Sustainable Infrastructure® (FISI) Label, following a thorough and competitive selection process.
Mike visited the COP27 Children and Youth Pavilion
Mike met with UN Climate Change Executive Secretary Simon Stiell
Monday, November 7, 2022
Michael R. Bloomberg Deepens Commitment to Moving the World Beyond Coal with Plan to Turbocharge Clean Energy Finance in Global South
CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All Damilola Ogunbiyi announces expanded partnership with Bloomberg Philanthropies to support developing countries across Africa, Asia, and Latin America to accelerate coal phaseout, develop viable pathways to net-zero, and speed deployment of clean energy
Bloomberg Philanthropies will also partner with the Glasgow Financial Alliance for Net Zero to mobilize finance for clean energy projects by supporting project preparation facilities.
Bloomberg Philanthropies and Goldman Sachs Backed Climate Innovation and Development Fund Announce Its First Blended-Finance Investments
The initial investments are focused on innovative electric mass mobility solutions in India and Vietnam. The fund, managed by the Asian Development Bank and financed by philanthropic funding from Bloomberg Philanthropies and Goldman Sachs, will provide critical finance to expand networks of electric buses and supporting charging infrastructure in key emerging markets.
Mike Bloomberg met with Italian Prime Minister Giorgia Meloni
Mike Bloomberg met with French President Emmanuel Macron
Heads of State and Ministers Announce New Support for 30×30 Targets, Bringing 112 Countries Now Committed to Protecting at least 30% of Land and Ocean by 2030
On the first day of COP27, presidents and ministers from Palau, Nigeria, Costa Rica, the United Kingdom, France, and the United States have today affirmed their support for the 30×30 target which commits countries to a global effort to achieve the protection of at least thirty percent of the planet’s land and ocean by 2030 to help curb biodiversity loss and climate change.
Mike Bloomberg Kicks Off GFANZ Africa Network Advisory Board Meeting
Sunday, November 6, 2022
OP-ED: COP27: ‘Climate data must be built and used for the common good’ (Le Monde)
Michael R. Bloomberg (UN Special Envoy for Climate Ambition & Solutions) and Nicolas Théry (chairman of Crédit Mutuel) write that in order to fight climate change, financial markets and environmental planning need to take into account climate data.