Bloomberg Philanthropies announced a $30 million contribution Wednesday to the Sierra Club's "Beyond Coal" campaign, upping the ante in former New York Mayor Michael Bloomberg's support for reducing U.S. reliance on energy from coal, Reuters reports.
The billionaire media mogul's foundation gave $50 million in 2011 to the Sierra Club effort, which aims to halve the number of coal-fired power plants operating nationwide by 2017.
Mr. Bloomberg and the national environmental group said 12 other donors would match the foundation's $30 million infusion. "Beyond Coal" works to mobilize local activists to push for the retirement of older coal plants and prevent construction of new ones. The new funding comes as the Obama administration finalizes proposed regulations to sharply reduce carbon emissions from coal plants.