Countdown to COP26
Days until COP:
Climate change is intensifying, and the race against time to protect our planet — and future generations — has never been more dire. In 2021 alone, we have seen increasingly deadly floods and wildfires, widespread drought, and powerful storms wreak havoc across the globe, all brought on by our changing climate. These events have devastated communities and economies worldwide, and it will only get worse if we fail to act. Only with collective action and leadership from governments, the private sector, and civil society will we stop and reverse the destructive impacts of the climate crisis, protect public health, and help drive economic recovery from COVID-19.
Leading up to COP26 in November, Mike Bloomberg, UN Special Envoy for Climate Ambition and Solutions and founder of Bloomberg LP and Bloomberg Philanthropies, has kicked off a Bloomberg-wide effort to turbocharge climate progress in support of the UN’s climate agenda through a climate action a day. Designed to build momentum and catalyze climate action worldwide, these actions will include climate-focused investments, partnerships, capacity-building, and educational efforts across three key themes: accelerating the clean energy transition, elevating local climate action, and mobilizing climate finance.
Bloomberg Philanthropies kicked off this 60-day countdown by committing $10.5 million to strengthen climate capacity across the UN and promote climate ambition and solutions ahead of COP26.
Follow along below for live updates of all actions since September 1, 2021.
BloombergNEf revealed that two thirds of the world’s heaviest emitters have committed to achieve net zero
New analysis from BloombergNEF released today shows that through August, 111 out of the Climate Action100+’s 167 “focus companies” — which account for over 80% of global GHG emissions — have set a net-zero or equivalent target. By 2030, these net zero targets set by these 111 companies are estimated to help reduce emissions by 3.7 billion metric tons annually. This increases to 9.8 billion metric tons of emissions reduced by 2050. Read the press release here.
Mike Bloomberg supported the launch of an unprecedented initiative to end new coal power
In his capacity as UN Special Envoy, Mike Bloomberg helped launch the ‘No New Coal Power Compact’, which convenes for the first time a diverse group of developed and developing countries to end global reliance on coal power. The new Compact encourages all countries to end construction of new coal-fired power plants by COP26 to keep the 1.5-degree Celsius goal within reach and avoid the catastrophic effects of climate change. Mike emphasized the need to end coal reliance for the sake of our planet and public health, highlighting progress to date by global Beyond Coal campaigns. See Mike’s tweet here.
Bloomberg Philanthropies supported the Hollywood Climate Summit
With support from Bloomberg Philanthropies, social impact agency YEA! Impact kicked off this year’s Hollywood Climate Summit. The annual gathering, running from September 23rd to 26th, will convene the entertainment community to address the climate crisis and focus on building a diverse coalition of climate champions through virtual job fairs, small workshops, and networking opportunities to inspire action. Learn more about this year’s Summit here.
Mike Bloomberg celebrated one year of the City Climate Finance Gap Fund
As Co-Chair of the Global Covenant of Mayors, Mike Bloomberg supports the City Climate Finance Gap Fund’s efforts to empower cities to act on their climate ambitions by unlocking critical climate finance. On the Fund’s one-year anniversary, the Global Covenant of Mayors, European Investment Bank, and World Bank announced it has approved technical assistance for 33 cities around the world, filling a critical gap and helping cities turn their climate ambitions into finance-ready projects. Mike praised the Gap Fund’s efforts, emphasizing the importance of investing in cities as they build back from the pandemic with climate-centered policies that create jobs and healthier communities. Learn more about the Gap Fund’s investments here.
Bloomberg Associates and Bloomberg Philanthropies helped the Mayor of London launch a city-wide climate action campaign
Unveiling a city-wide campaign, the Mayor of London urged all Londoners to take actions that help tackle the climate emergency before it is too late. The mayor made the announcement at a local primary school where Bloomberg Philanthropies supported a street art installation designed by renowned 3D pavement artist Julian Beever which depicts London at a crossroads, warning of the future London may face if action is not taken. Bloomberg Associates also partnered with London City Hall to provide Climate Vulnerability Mapping data that identified London boroughs most at risk from flooding and overheating over the next decade. Learn more here.
Mike Bloomberg met with Colombian President Iván Duque to discuss climate finance and the clean energy transition
As UN Special Envoy, Mike Bloomberg met with Colombian President Iván Duque in New York City today to push for ambitious climate action in the region. They discussed climate change, biodiversity and the need to mobilize finance more effectively to achieve environmental goals. Mike commended Colombia’s ambition to be the regional leader in the energy transition, and agreed to explore opportunities with President Duque to convene regional leaders and the private sector to accelerate the energy transition. Read out here.
Bloomberg Philanthropies joined forces with eight key funders to protect 30% of the planet by 2030
Bloomberg Philanthropies collaborated with eight other key philanthropic organizations, including Arcadia and the Bezos Earth Fund, to pledge a combined $5 billion over the next 10 years to support 30×30: a goal of protecting and conserving 30% of the planet by 2030. Highlighting the catalytic role of climate philanthropy, the Protecting Our Planet Challenge will provide the resources for Indigenous Peoples and local governments to lead ambitious new projects in their communities that will advance 30×30. The announcement featured remarks from Antha Williams, Head of Climate and Environment Programs at Bloomberg Philanthropies, who emphasized the need for leadership and funding to protect the world’s ecosystems. Read the press release here.
Bloomberg LP became a founding member of the newly launched Net Zero Financial Service Providers Alliance
Bloomberg LP committed to align its products and services to achieve net-zero greenhouse gas emissions by 2050 as a founding member of the Net Zero Financial Service Providers Alliance. A sub-sector alliance to the Glasgow Financial Alliance for Net Zero (GFANZ), this new group brings together the world’s largest ratings agencies, stock exchanges, data providers and more to fill the gap for net zero in the financial sector and help put climate at the heart of every professional financial decision. Through the alliance, Bloomberg LP will continue to decarbonize its own operations and empower its clients to do the same with world-class products and services in the climate and ESG space. Read the press release here.
Mike Bloomberg welcomed the 15 Mayors who joined C40 Cities’ Renewable Energy Declaration
At Climate Week NYC, 15 climate-leading mayors from cities around the world — from Copenhagen, to Vancouver, Tokyo and Buenos Aires — signed on to C40’s Renewable Energy Declaration, committing to prioritize clean energy systems and renewable electricity for their communities. As C40 Cities’ Board President, Mike emphasized cities’ strong leadership in reducing emissions while also creating clean jobs and healthier communities. Learn more about the Declaration here.
Mike Bloomberg met with Palauan President Surangel Whipps, Jr. to discuss the urgent need to fund climate adaptation and protect the ocean
As UN Special Envoy, Mike Bloomberg met with Palauan President Surangel Whipps, Jr. at Bloomberg L.P. Both Mike and the President emphasized the importance of international climate adaptation funding for vulnerable small island developing states ahead of climate negotiations later this year. Mike also commended Palau’s commitment to ocean protection as evidenced by its designation of the Palau National Marine Sanctuary, covering 80 percent of national waters. Readout from Mike’s meeting here.
Bloomberg Philanthropies launched the Climate Innovation Fund in partnership with Goldman Sachs and the Asian Development Bank
Bloomberg Philanthropies announced a new $25 million Climate Innovation Fund to accelerate South and Southeast Asia’s clean energy transition. By turbocharging the catalytic effect of philanthropic grants with private investments, the fund has the potential to unlock up to $500 million in private sector and government investments. The fund is differentiated by the unique expertise brought on by a collaborative partnership: Goldman brings its longstanding financial expertise, Bloomberg brings experience in accelerating the energy transition through work with Beyond Coal and other programs, and the Asian Development Bank brings its local know-how and on-the-ground networks in the region. Read Bloomberg Philanthropies’ tweet here.
Mike Bloomberg co-launched America Is All In’s blueprint to halve U.S. emissions by 2030
America Is All In — the most expansive coalition of U.S. non-federal leaders ever assembled in support of climate action — released “Blueprint 2030: An All-In Climate Strategy for Faster, More Durable Emissions Reductions,“ a comprehensive set of policies and actions that can deliver on the United States’ 2030 national climate commitment. The report outlines breakthrough policies in five key sectors that will accelerate the clean energy transition and provide economic and social benefits at the same time. The report was launched at a Climate Week NYC event, attended by 200+ climate leaders, and featured remarks from America Is All In’s co-chairs, California Governor Gavin Newsom, Tesla’s Francesca Wahl, Savannah Mayor Van Johnson, among academics, higher education leaders, and private sector representatives. Learn more about the report in Fast Company.
Mike Bloomberg urged governments to act quickly and boldly to beat climate change – and underscored the promise of solar power in Indonesia
At the Indonesia Energy Transition Dialogue, hosted by Bloomberg Philanthropies’ partner the Institute for Essential Services Reform, Mike Bloomberg delivered remarks highlighting the need to act quickly and boldly on climate change and the benefits that Indonesia could reap from doing so. Speaking alongside international political, academic, and industry leaders, including UNFCCC Executive Secretary Patricia Espinosa and Indonesian Minister of National Development Planning H.E. Suharso Monoarfa, Mike underscored Indonesia’s potential to become a world leader in solar power – as outlined in BloombergNEF’s recent report: Scaling Up Solar in Indonesia. Learn more about the dialogue here.
Mike Bloomberg commended breakthrough climate commitments from subnational leaders around the world
At the U.N. High-Level Climate Action Champions’ Opening Session for Climate Week NYC, Mike Bloomberg, in his role as Global Ambassador for the Race to Zero and Race to Resilience Campaigns, celebrated global businesses for their climate ambitions and urged more companies to join the Races ahead of COP26. To date, more than half the sectors that make up the global economy have committed to halve their emissions by 2030 – in line with getting to net zero by 2050. Read the announcement here.
Mike Bloomberg and Paris Mayor Anne Hidalgo expanded partnership to improve Paris’ air quality
Bloomberg Philanthropies and the City of Paris announced the new phase of a long-standing partnership to improve air quality for Parisians with the launch of a new measurement and awareness campaign. Launched by Mike Bloomberg and Mayor Anne Hidalgo during a visit to Paris’ “Climate Academy,” the new initiative will support the city’s efforts to fight air pollution by installing sensors to measure ultrafine particles, providing public education on the dangers of air pollution, and engaging citizens to mobilize action for cleaner air. The results of the partnership will ultimately inform city-wide clean air policies. Learn more about the partnership here.
Mike Bloomberg called on the financial sector to step up in the race to zero
Mike Bloomberg gave opening remarks at “COP26 and the Mobilization of the Finance Sector,” a virtual event to highlight how financial institutions are working together to set and achieve net-zero targets through the UN Race to Zero campaign and Glasgow Financial Alliance for Net Zero (GFANZ). The event featured discussions with French Finance Minister Bruno Le Maire, COP26 Climate Finance Advisor Mark Carney, and leading French CEOs on the European Commission and French national government’s roles accelerating the transition to net-zero. See more here.
Mike Bloomberg and AXA CEO Thomas Buberl urged companies to mobilize green investment, faster
In French daily publication Les Echos, Mike Bloomberg and AXA CEO Thomas Buberl penned an op-ed calling on investors and companies to act in the face of climate change, commit to net-zero targets, and support initiatives to improve ESG data. They emphasized how the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), initiatives like the Climate Finance Leadership Initiative (CFLI), and Glasgow Financial Alliance for Net-Zero (GFANZ) are helping the private sector build momentum going into COP26. Read the op-ed here.
Mike Bloomberg convened French business leaders to accelerate path to net zero
Mike Bloomberg met with top French business leaders to discuss and push for momentum among the financial sector transitioning to a net-zero economy. Joined by COP26 High-Level Climate Champion Nigel Topping, the meeting celebrated companies already committed to the Race to Zero campaign and underscored the need for more companies in France and around the world to join efforts to reduce greenhouse gas emissions as quickly as possible. Read Mike’s tweet here.
Mike Bloomberg joined global leaders at the UN General Assembly’s Energy Action Day
Mike Bloomberg delivered the closing remarks at the UN General Assembly’s Energy Action Day, hosted alongside the UN High-Level Dialogue on Energy by Denmark, IRENA, UNEP and the World Economic Forum. He underscored Bloomberg Philanthropies’ work to accelerate the global clean energy transition through Beyond Coal campaigns around the globe and praised Costa Rica and Denmark for initiating the new Beyond Oil and Gas Alliance, which launched at today’s event. During a session on the role of cities in delivering a net-zero energy system, the Global Covenant of Mayors was highlighted for their role in supporting local governments to achieve a net-zero future and Bloomberg Philanthropies’ 60-day countdown to COP26 was highlighted.
Bloomberg Philanthropies supported the creation of the Beyond Oil and Gas Alliance
In partnership with Bloomberg Philanthropies, Ministers from Costa Rica and Denmark announced the Beyond Oil and Gas Alliance (BOGA), a coalition of governments committed to phasing out the use of oil and gas. Slated to formally launch in November at COP26, this government-led alliance builds on Bloomberg Philanthropies’ long-standing commitment to help move the world to a clean energy future, which includes our partnership with the Powering Past Coal Alliance and their success to date in helping move the world beyond coal. Learn more here.
Bloomberg Philanthropies & London Mayor Sadiq Khan announced asphalt art series in advance of COP26
Mayor of London Sadiq Khan joined award-winning artist Yinka Ilori to unveil the first in a series of street art commissions in the City of London and Borough of Camden that will transform 17 pedestrian crossings and a plaza with colorful artwork. The ‘Bring London Together’ project is designed to draw Londoners and visitors to central London as part of the Mayor’s Let’s Do London tourism campaign, and is launched alongside the London Design Festival. The project involves a collaboration with art students from the University of the Arts London and offers the chance for the local community to participate in the painting and the transformation of their streets. As the UK prepares to host the United Nations meeting on Climate Action, COP26, this project is one of several in international cities supported by Bloomberg Philanthropies’ Asphalt Art Initiative to encourage more sustainable transportation and transform and revitalize public spaces through the power of art. View photos of the installation here.
Bloomberg Philanthropies expanded partnership to turbocharge Indonesia’s clean energy transition
Bloomberg Philanthropies and PT Sarana Multi Infrastruktur (Persero) (PT SMI), an Indonesian state-owned enterprise financing national projects under the Ministry of Finance, announced a joint commitment to accelerate Indonesia’s clean energy transition at an event with Michael Bloomberg and Indonesian Minister of Finance Sri Mulyani Indrawati. Expanding on a partnership launched in 2019, this new phase will focus on advancing climate finance policies and sustainable development by strengthening technical capacity and resources to support a robust pipeline of regional projects. Under the new MoU, Bloomberg Philanthropies will also work with PT SMI to promote blue finance and marine conservation—two areas of critical importance to the Indonesian economy.
BloombergNEF publishes framework for policymakers to help unlock potential of massive global rooftop solar market:
BloombergNEF published a new report entitled “Realizing the Potential of Customer-Sited Solar” in partnership with Schneider Electric. Recognizing that the power sector is most responsible for carbon emissions, the report shows how customer-sited solar potential is still largely untapped, and that careful policy design can unlock this potential in the global transition to clean and renewable energy. Using market case studies from California, New Jersey, Spain, France and Australia, the report aims to bring some clarity on challenges such as how to stimulate investment in small-scale resources – while not overloading the grid, as well as how to incentivize energy storage and flexibility. The full report is publicly available here.
Bloomberg LP’s European HQ recognized for outstanding sustainable building management
Bloomberg LP’s European headquarters in London achieved an ‘Outstanding’ rating– the highest-possible BREEAM environmental certification — for its remarkable sustainable building management, operations, design, and construction. Among the building’s recognized practices include the installation of more than 500 energy sub-meters to pinpoint where energy is consumed to target consumption savings; and the sub-metering of water to identify and address areas of high water use throughout the building. This is just another example of how Bloomberg LP is on track to be net-zero by 2025.
BloombergNEF revealed which G-20 nations are leading on decarbonizing industrial heat…and which are not
BloombergNEF released a new report, Hot Spots for Renewable Industrial Heat Across the G-20. Written in partnership with the World Business Council for Sustainable Development (WBCSD), the report identifies and ranks the leading markets within the G-20 for low-carbon heat deployment — an essential part of decarbonizing the industrial sector. It finds that China, France, Italy, Germany, South Korea & the U.K. are currently the best G-20 nations in which to pursue renewable heat, but that more needs to be done overall to improve the policy and economic environment for renewable heat around the world. Following the release of the G-20 Climate Policy Factbook earlier in the year, this latest report continues Mike Bloomberg’s effort to deliver transparent research and data on decarbonization pathways ahead of the international policy negotiations at COP26.
Mike Bloomberg discussed India’s clean energy future and his hopes for COP26
In an interview with Mint, Mike Bloomberg outlined CFLI India’s new plan to mobilize climate finance through public-private sector collaboration and accelerate the country’s clean energy transition to meet its Paris Agreement goals. Mike also noted his key areas of focus for COP26, which include driving continued support for local and subnational climate leadership and advocating for the adoption of TCFD’s recommended standards.
Bloomberg Philanthropies unveiled asphalt art collaboration with COP26 Host City Glasgow
Bloomberg Philanthropies and the Glasgow City Council unveiled a vibrant public artwork installation at the entrance of Anderston Station. Designed to improve pedestrian and bike traffic, revitalize the public space, and provide dynamic art for residents and visitors to enjoy, the installation was inspired by the environmental challenges the city faces with excessive rain and water runoff. The mural is accompanied by benches and an experimental rain garden on the site. Over the coming weeks, residents of Glasgow will witness their city become one of the most talked about in the world as it hosts November’s historic climate negotiations. With this partnership, Glasgow joins a select group of international cities supported by Bloomberg Philanthropies to transform and revitalize public spaces through the power of art. View pictures of the installation here.
BloombergNEF & Bloomberg Philanthropies revealed the untapped potential for solar power in Indonesia
Bloomberg Philanthropies and BloombergNEF, together with the Institute for Essential Services Reform, released a new report, which revealed that with the right policies and investments in place, Indonesia is positioned to be a world leader in solar power. Endorsed by the Indonesian Minister of Energy and Mineral Resources, Scaling Up Solar in Indonesia: Reform and Opportunity is the latest in a series of reports from Bloomberg to provide freely available, transparent climate and energy data to governments, businesses, and financial decision makers. Recent reports from Bloomberg Philanthropies and BloombergNEF include the Climate Policy Factbook, which analyzes the G-20 nations’ climate progress across three key policy areas, and the Energy Transition Factbook launched for the 12th Clean Energy Ministerial.
Bloomberg LP hosted inspiring dialogue about tackling climate change with Asia’s leading philanthropists
During the RADAR: Tracking Tomorrow dialogue series, Bloomberg LP presented conversations with Asian game-changers and international thought leaders on how collaboration, combining for-profit investment strategy with philanthropic intent, and risk capital can help solve some of our biggest environmental challenges, including climate change and food insecurity. Laurence Lien, Chairman of the Lien Foundation & Co-Founder/Chairman of Asia Philanthropy Circle, affirmed how an existential crisis such as climate change couldn’t possibly be tackled without broad collaboration, and this was echoed by Ronna Chao, Chairperson of Novetex Textiles & CEO of Novel Investment Partners, who believes in equipping the younger generation with knowledge and resources so they can be better armed to address such pressing issues. Ray Dalio discussed efforts by OceanX – a Bloomberg Philanthropies Vibrant Oceans Initiative partner – to support ocean conservation and exploration as a key component in the fight against climate change.
Mike Bloomberg helped launch the Clean Air Fund’s new report
On the second annual UN International Day of Clean Air for Blue Skies, Mike Bloomberg supported the launch of a new report from the Clean Air Fund, which revealed that despite air pollution causing 4.2 million early deaths a year, it appears to be a forgotten issue – with less than 0.1% of philanthropic foundation funding and less than 1% of official development funding spent on air quality. Bloomberg Philanthropies is a proud coalition partner of the Clean Air Fund.
Mike Bloomberg celebrated the first anniversary of Korea Beyond Coal
Mike Bloomberg highlighted Korea Beyond Coal’s success in just one year, particularly the impact the campaign has already had on national policy with South Korea announcing it would end overseas coal power financing. Korea Beyond Coal launched last year inspired by Bloomberg Philanthropies’ support for the successful Beyond Coal campaigns in Europe and the United States. Read Mike’s tweet.
Mike Bloomberg joined mayors to push G20 on climate action
Mike Bloomberg, C40 Board President and the 108th Mayor of New York City, joined and voiced his support along with 41 mayors and governors representing the world’s largest economies at the Urban 20 Mayors Summit 2021. Hosted by the U20 Chairs, Virginia Raggi, Mayor of Rome and Giuseppe Sala, Mayor of Milan, the high-level diplomatic event is expected to raise the stakes on the international stage in the lead up to the G20 Summit in October. The mayors presented a Communique to the G20 presidency, urging the G20 to accelerate climate action ahead of COP26 by halving global emissions by 2030 and shifting investments to clean energy. Mike’s comments helped underscore the importance of recognizing the role of cities and the need to empower them to effectively address climate change.
Bloomberg LP and Mayor Sadiq Khan announced a week of climate activities for London youth
London Mayor Sadiq Khan, with support from Bloomberg LP and comments from Jemma Read, Global Head of Corporate Philanthropy at Bloomberg LP, unveiled Climate Kick-Start – a week of free events across the city to inspire young people to take climate action ahead of COP26. The initiative will support work the Mayor is already doing to help young Londoners impacted by the effects of climate change and air pollution through several programs in partnership with Bloomberg Philanthropies. These include School Streets, which closes roads surrounding schools at drop-off and pick-up times to improve air quality, Breathe London, which installs air pollution sensors in local communities to produce real-time air quality data that Londoners can access, and Generation Earthshot, which helps teachers around the world nurture and channel the innate optimism and creativity of young people towards solving our biggest environmental challenges.
Mike Bloomberg and Bloomberg LP launched Climate Finance Leadership Initiative India
Mike Bloomberg and the governments of India and the UK announced a new industry-led coalition to support India’s ambitious plans to deliver inclusive, resilient, and sustainable infrastructure and services. The Climate Finance Leadership Initiative (CFLI) India will be co-chaired by Shemara Wikramanayake, CEO of Macquarie Group, and Natarajan Chandrasekaran, Chairman of Tata Group, and comprises major private sector Indian and multinational corporations and financial institutions. Mike Bloomberg, Chancellor Rishi Sunak, Lord Mayor of London William Russell, and the Indian Ministry of Finance amplified the announcement. Read Mike’s interview with The Mint.
Bloomberg LP committed corporate and philanthropic support for COP26
Mike Bloomberg announced Bloomberg LP and Bloomberg Philanthropies’ engagement with COP26, including Bloomberg Philanthropies’ $10.5M commitment to the UN, and LP’s official role as COP26 partner. The announcement included support from COP26 President Designate Alok Sharma, UN Climate Change Executive Secretary Patricia Espinosa, and COP26 High-Level Climate Champions Nigel Topping and Gonzalo Muñoz. The announcement previewed the dozens of climate actions Bloomberg will take over the next eight weeks.
Bloomberg LP joined forces with the Earthshot Prize
Bloomberg LP was announced as an Earthshot Prize Global Alliance Member, backing “the most prestigious environment prize in history.” Bloomberg has supported the Earthshot Prize since its inception. Bloomberg Philanthropies is a Global Alliance Founding Partner and is supporting Generation Earthshot, an educational programme to engage young people in solving today’s biggest environmental challenges.
Mike Bloomberg highlighted the catalytic role of climate finance
Mike Bloomberg and Mary Schapiro, Vice Chair for Public Policy & Special Advisor to Founder & Chairman at Bloomberg LP, highlighted the catalytic role of climate finance at the Islamic Development Bank Tashkent 2021 Annual Meeting.
Mike convened the G20 leaders on climate
Mike Bloomberg and the United Nations Secretary General Antonio Guterres co-hosted the G20 Permanent Representatives at Bloomberg Philanthropies to discuss climate action priorities ahead of the G20 Summit and COP26.
Top photo: A skyline view of Glasgow, Scotland, the host city of COP26.