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Bloomberg charity donates US$30 million

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World Coal,

Former New York Mayor Michael Bloomberg's charity has introduced another US$30 million into an environmental campaign to half the number of U.S. coal-fired power plants by 2017.

The donation by Bloomberg Philanthropies to the Sierra Club's "Beyond Coal" campaign adds to a US$50 million pledge it made in 2011. The campaign has contributed to the closure of 187 coal plants to date.

The mayor and the Sierra Club said 12 other contributors would match Bloomberg Philanthropies' US$30 million donation.

"Coal's days are numbered," the former mayor said on Wednesday. "It's holding back our economy."

"Beyond Coal" says it now wants to retire half of the roughly 500 U.S. coal plants by 2017, up from its previous goal of a third by 2020.

The new funding comes as the U.S. Environmental Protection Agency works on completing its proposed regulation to slash carbon emissions from existing power plants later this summer.

Edited from source by Joseph Green

Source: Reuters

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