When the Beyond Carbon campaign was first launched, the goal was to retire about 30% of coal plants by 2020. But with the support of environmental groups nationwide, and an early $500 million from Bloomberg, the campaign managed to shut down more than half of the nation’s coal plants by 2022, Reuters reported.
Michael Bloomberg Is Throwing $500 Million at Efforts to Shut Down All U.S. Coal Plants
Efforts from Bloomberg Philanthropies have helped shut down more than half of the coal plants in the country.
Billionaire, philanthropist, and former NYC Mayor Michael Bloomberg announced this week that he will invest $500 million into his campaign to shut down coal plants and halve gas use by 2030.
Through the Beyond Carbon campaign, Bloomberg has successfully helped shut down about 70% of all coal plants in the U.S. This new push is intended to shut down the remaining 150 coal plants. The Beyond Carbon initiative also aims to work with a range of local and state organizations to block the construction of new gas plants. . .
According to a press release from Bloomberg Philanthropies, this push to shut down coal-fired power plants will push officials to invest in renewable energy and clean jobs. “Our climate is warming at a breakneck pace, and there’s more urgency than ever to cut emissions from fossil fuels & move the U.S. faster toward a clean energy future,” Bloomberg tweeted yesterday, referring to the recent announcement.
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