Billionaire media mogul's donation continues his foundation's support the Sierra Club's Beyond Coal Campaign.
WASHINGTON — Former New York Mayor Michael Bloomberg’s foundation is donating $64 million to a Sierra Club program seeking to phase out coal-fired power plants and reduce planet-warming carbon emissions.
The billionaire media mogul announced the gift in Washington, two days after the Trump administration said it would dismantle the Clean Power Plan. The Obama-era air pollution rules were intended to cut US carbon emissions by about one-third below 2005 levels by 2030.
Bloomberg’s donation will continue his foundation’s support the Sierra Club’s Beyond Coal Campaign, which works to close coal-fired power plants and promote clean-energy alternatives.
US utilities have phased out nearly half of their coal plants since 2011, with many switching to cheaper, cleaner-burning natural gas.
President Donald Trump has pledged to revive the nation’s struggling coal mines.