EC initiative on “Save the Planet by shifting taxation from labor to greenhouse gas emissions”
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Mike Bloomberg pledges $ 65m to back local climate action, emissions reduction
Mike Bloomberg has announced a new $65 million commitment to continue his longtime support for local climate action and emissions reduction around the world.
Supported by Bloomberg Philanthropies, the funding will provide critical support to leading city networks, expand data and research, and strengthen capacity for local climate finance. This announcement brings Mike’s commitment to supporting cities in reducing emissions to over $650 million.
Mike Bloomberg said, “In 2015, after decades of being sidelined, mayors crashed the Paris COP and pushed national leaders into signing a first-ever global agreement. This year, for the first time ever, local and regional leaders have been formally invited to participate in the proceedings – which reflect how the ambitions and influence of cities have continued to grow.”
The commitment was made to support ‘Coalition for High Ambition Multi-Level Partnerships’ (CHAMP) which was launched by the COP28 Presidency.
Developed in consultation with subnational and national leaders, along with a diverse set of stakeholders, CHAMP is a pioneering initiative that recommends a new process for local and regional leaders to contribute to the development of updated and ambitious Nationally Determined Contributions (NDCs). CHAMP has been endorsed by 63 national governments fostering collaboration between national and subnational levels to find a new, inclusive, and ambitious approach to updating Nationally Determined Contributions (NDCs). It provides a mechanism to harvest the best ideas for climate action from the local level, with the goal of ensuring the next round of national climate targets are as ambitious and inclusive as possible.
He made the announcement during The COP28 Local Climate Action Summit (LCAS). The COP28 Presidency and Bloomberg Philanthropies convened the first-ever subnational leaders’ summit at a COP, marking a new era of inclusion and integration in the COP program and process.
The summit, which united over 450 attendees from 60+ countries, including over 250 mayors and governors, focused on driving greater integration in four key areas: transforming local climate finance, integrating local contributions to enhance global action, fast-tracking the local energy transition and strengthening local resilience and adaptation.
Commenting on the summit, COP28 President Dr. Sultan Al Jaber stated: “LCAS marked another first for COP28 and a major moment in this Presidency’s effort to host an inclusive COP. LCAS formally recognizes the critical role of local leaders in reducing emissions, addressing climate risk, and supercharging national efforts to move further and faster on climate progress and it is a pleasure to meet so many inspirational leaders”.
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