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January 22, 2015

Bloomberg Launches $48-Million Clean-Energy Effort

Former New York Mayor Michael Bloomberg's foundation announced an effort Wednesday to pump $48-million into efforts by states and localities to speed their jurisdictions' transition to cleaner energy sources, The Hill writes.

The program aims to help jurisdictions meet an Obama administration target of reducing carbon-dioxide emissions from existing power plants by 30 percent from 2005 levels over the next 15 years. It will be co-funded by Bloomberg Philanthropies and the family of California climate activists Mark Heising and Elizabeth Simons, according to The New York Times.

The effort extends the Bloomberg Philanthropies campaign to reduce U.S. reliance on coal and prompted Elaine Chao, a former U.S. labor secretary and the wife of Senate Majority Leader Mitch McConnell, to resign from the group's board, reports The Courier-Journal of Louisville. Ms. Chao's ties to Mr. Bloomberg became an issue in her husband's re-election bid last year in Kentucky, which turned in large part on support for the coal industry.