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Michael Bloomberg Pledges $15 Million to U.N. for Climate Change

Former New York City mayor Michael Bloomberg pledged on Friday to give $15 million to the United Nations to make up for lost funding toward the Paris Agreement after President Donald Trump announced the United States would be pulling out of the accord.

"Americans are not walking away from the Paris Climate Agreement," said Bloomberg, a businessman worth about $50 billion. "Mayors, governors, and business leaders from both political parties are signing onto a statement of support that we will submit to the U.N.—and, together, we will reach the emission reduction goals the U.S. made in Paris in 2015."

The funding will come from "Bloomberg Philanthropies, in partnership with others," according to the statement, and supports the U.N. Framework Convention on Climate Change.

American states, cities, and organizations ranging from universities to corporations have re-affirmed their commitment to the Paris climate deal since Trump announced Thursday that the U.S. will leave it.