BREAKING NEWS

Bloomberg philanthropy to cover US climate dues after Paris withdrawal

Former New York Mayor Michael Bloomberg's philanthropy and other US funders said on Thursday they would cover US financial obligations to the UN climate framework after President Donald Trump called for the US to withdraw - for a second time - from the Paris Climate Agreement.

Bloomberg, a media billionaire who also serves as a UN special envoy on climate change, announced Bloomberg Philanthropies will once again cover the amount of money the US owes each year to the United Nations Framework Convention on Climate Change and ensure the US meets its emissions reporting obligations to the body despite the pullback from global climate diplomacy under Trump.