Bloomberg Philanthropies Boosts Investment in Sierra Club to Retire U.S. Coal Fleet & Transition the Nation towards Clean Energy Sources
April 8, 2015 /3BL Media/ - Bloomberg Philanthropies announced it will invest an additional $30 million in the Sierra Club to secure the replacement of half the nation's coal fleet by 2017 with clean energy. The new round of funding builds on a previous commitment of $50 million, raising the foundation's overall investment in the Sierra Club's Beyond Coal campaign to $80 million. This adds to the successful, state-driven and community-based strategy that has made it possible for the U.S. to become a world leader in aggressive emission reductions. Additionally, acting as a catalyst in the fight against climate change, Bloomberg will lead a coalition of funders which aim to match up to $30 million in grants, further boosting the Sierra Club's capacity to move the U.S. towards clean energy sources faster.
The coalition of more than a dozen funders includes individual donors, family foundations and major philanthropic organizations recognizing the urgency to fight climate change. Select funders include the Hewlett Foundation, the John D. and Catherine T. MacArthur Foundation, the Yellow Chair Foundation, the Grantham Foundation and the Sandler Family Foundation. Sierra Club Executive Director Michael Brune and Michael R. Bloomberg announced the investments at the Sierra Club in Washington DC.
"The single biggest reduction in carbon pollution in the U.S. has come by retiring and repurposing coal-fired power plants - and that's the direct result of our Beyond Coal campaign," said Michael R. Bloomberg. "Thanks to the community leaders who have spearheaded this work, the U.S. led every industrialized nation in reducing carbon emissions last year. But much more work remains, and today we are doubling down on what has proven to be an incredibly successful strategy for improving public health and fighting climate change."
About Bloomberg Philanthropies
Bloomberg Philanthropies' mission is to ensure better, longer lives for the greatest number of people. The organization focuses on five key areas for creating lasting change: Public Health, Environment, Education, Government Innovation and the Arts. Bloomberg Philanthropies encompasses all of Michael R. Bloomberg's charitable activities, including his foundation and his personal giving. In 2014, Bloomberg Philanthropies distributed $462 million. For more information, please visit bloomberg.org or follow us on Facebook,Instagram and Twitter @BloombergDotOrg.