James Murray, BusinessGreen »

Billionaire media mogul Michael Bloomberg, who also serves as the UN Secretary-General’s Special Envoy for Climate Ambition and Solutions, today told an audience at the COP26 Climate Summit in Glasgow that his Bloomberg Philanthropies foundation would launch a new effort to accelerate the closure of coal plants globally.

The campaign will support UN Secretary-General Antonio Guterres‘ long-standing calls for coal power to be phased out in OECD and the EU27 by 2030 and by 2040 everywhere else.

As such, the Bloomberg Philanthropies campaign has set a target to work to close a quarter of the world’s 2,445 remaining coal plants and all 519 proposed new coal plants by 2025, in a move that will dramatically expand its current efforts to support coal phase outs in seven countries and the EU. Specifically, the campaign will be extended to an additional 25 developing countries where coal power is projected to rapidly grow.

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