U.S. Billionaire businessman Mike Bloomberg, the U.S. state department, and U.S. climate envoy John Kerry announced on Tuesday cooperation to help cities worldwide reach net zero and become more resilient to climate change.
Kerry and Bloomberg, the former New York City mayor, launched a major plan for climate action at COP27, taking place in the Egyptian Red Sea resort of Sharm El-Sheikh.
The first-of-its-kind initiative, dubbed Subnational Climate Action Leaders’ Exchange (SCALE), will see investment worth $1.5 million from the U.S. state department and Bloomberg to support cities worldwide to cut their emissions. The state department’s contribution is subject to Congressional notification and the completion of domestic procedures, and it will be matched by $1.5 million from Bloomberg Philanthropies.
“SCALE will empower subnational champions to drive ambition at the national and international level and will leverage action and advocacy organized around a set of high-level thematic and sectoral goals needed to keep a 1.5-aligned, climate-resilient future within reach.” U.S. state department statement read.
“The initiative will expand the number of subnational entities committed to ambitious climate targets; connect them to relevant tools and resources and support the development of additional programs and technical assistance; showcase the efforts of leading cities, states, and regions and facilitate peer-to-peer exchange and capacity building; and promote multi-level and cross-sector dialogue, including on opportunities to mobilize finance for subnational action at scale.”
In its first phase, it will focus on accelerating implementation of the Global Methane Pledge and its call for a 30 percent reduction in methane emissions by 2030, the statement added.
