Michael R. Bloomberg, the UN Secretary-General’s Special Envoy on Climate Ambition and Solutions and founder of Bloomberg L.P. and Bloomberg Philanthropies, joined COP28 UAE President-Designate Dr. Sultan Ahmed Al Jaber to announce a new partnership to bolster meaningful climate action from cities, businesses, financial institutions, and civil society at and ahead of the 2023 UN Climate Change Conference (COP28). 

Dr. Sultan Al Jaber, COP28 President- Designate said, “What the world needs at COP28 is not just a Conference of the Parties, but a Conference of all Parties. Governments alone cannot act at anywhere near the scale we need. We need everyone to join forces now – from our universities and cities to civil society organizations and nature groups, as well as every single sector of industry. The COP28 Presidency’s partnership with Michael R. Bloomberg will help mobilize all parts of global society to make COP28 the turning point we need for global climate progress.” 

This partnership aims to build on an unmatched global track record of supporting city climate action, mobilizing climate finance from the private sector, and tackling the world’s toughest emissions challenges, Bloomberg’s commitment will focus on galvanizing climate action across three main tracks at COP28, both in the lead up to and on the ground in Dubai: 

  • Catalyzing cities, states, and subnational action: In partnership with the C40 Cities Climate Leadership Group, the Global Covenant of Mayors for Climate & Energy, America Is All In, and the Under2 Coalition, Bloomberg will support local leaders – including mayors, governors, and CEOs – to take ambitious climate action and demonstrate climate leadership; mobilize financing for urban climate projects; showcase scalable climate solutions; and strengthen collaboration at the local, national, and regional levels to accelerate climate action implementation around the world. 
  • Supporting the COP28 Energy Transition action agenda: Further to the recent announcement by Dr. Al Jaber, the partnership will aim to drive transformation within the energy sector, advancing stronger climate actions from carbon-intensive industries that help put them on net-zero pathways. 
  • Increasing clean energy development and capital mobilization: Through its partnerships with the Glasgow Financial Alliance for Net Zero (GFANZ); the International Renewable Energy Agency (IRENA); and Sustainable Energy for All (SEforALL), Bloomberg will promote favorable policy environments through data, research, and advocacy; strengthen project preparation facilities; and create blended finance vehicles to unlock private-sector funding. 

Earlier today, Dr. Sultan and Michael R Bloomberg convened mayors and city leaders from around the world to highlight the critical importance of cities in the fight against climate change and to discuss pathways for subnational climate leadership at COP28 in the UAE. 

“Not long ago, national governments were the only ones at the table in global climate talks – but cities and local communities, states and regions, and businesses and investors have increasingly led the way in cutting emissions,” said Michael R. Bloomberg. “The more we do to support and empower them, the more we can quicken the pace of progress, and that’s exactly what Bloomberg Philanthropies has been working to do. Thanks to the leadership they’ve shown, these groups will have a formal role in this year’s COP for the first time, which can mark a historic turning point in the global fight against climate change. Bloomberg Philanthropies is glad to be joining Dr Al Jaber and the UAE to seize the moment, help all of these groups take bold action in the months ahead, and set the stage for a successful conference.” 

This new commitment deepens Mike Bloomberg’s longstanding dedication to the UN’s climate agenda and aims to help deliver on UN Secretary-General António Guterres’ call for transformative and decisive action ahead of this year’s COP in Dubai.

As part of the partnership, Bloomberg Philanthropies and Bloomberg L.P. will host events and foster cross-sector dialogues to bolster global contributions from subnational actors – including cities, financial institutions, businesses and civil society – and ensure they are better integrated within global climate discussions stated the release. Bloomberg will also provide a series of tools, data and resources to subnational actors to support the global, whole-economy transition and the scaling up of clean energy investment. 

Bloomberg L.P. and Bloomberg Philanthropies will also collaborate with organizations and programs in the UAE on cultural and community-focused engagements that will inspire local climate action, engage young people, and create a lasting legacy for COP28 in the Middle East. 

Press release written by Bloomberg