Michael R. Bloomberg and Climate Leaders Across the U.S. Commend President Biden’s Exceptional Climate Legacy at New York Climate Week

New York, NY - Today, Michael R. Bloomberg, founder of Bloomberg L.P. and Bloomberg Philanthropies, together with climate leaders from across the United States, commended President Joseph R. Biden for his extraordinary climate leadership ahead of the President's address at the Bloomberg Global Business Forum during New York Climate Week. A longstanding champion of climate action, Mike Bloomberg celebrates President Biden and his Administration for implementing bold, transformative policies that have significantly advanced global efforts to combat climate change and helped turbocharge climate initiatives led by Bloomberg Philanthropies and its partners worldwide.

"When it comes to tackling climate change, history will remember President Biden's leadership," said Michael R. Bloomberg, UN Secretary-General's Special Envoy on Climate Ambition and Solutions, founder of Bloomberg LP and Bloomberg Philanthropies."By reaching across the aisle, he helped usher unprecedented climate and infrastructure bills through Congress - restoring U.S. leadership on climate action and empowering more private sector investment. He has helped position the U.S. to fulfill our commitment under the Paris Agreement - improving public health, creating jobs, and saving lives."

President Biden's Administration has ushered in a transformative era for U.S. climate action in an effort to lower costs for all Americans and advance a just and equitable clean energy future. Demonstrating his ability to reach across the aisle, President Biden has helped push through Congress the most significant climate and infrastructure legislation in the country's history-resulting in the largest investment in fighting climate change made by any nation to date. These efforts have sparked a surge of new investments in clean energy, with over $900 billion in private sector commitments in American manufacturing and the power sector. This surge has also created unprecedented opportunities for cities and states to access federal funds and elevate their climate ambitions, acknowledging that subnational actors are powerful allies in the fight against climate change.

Through the historic Inflation Reduction Act, the U.S. is poised to reduce emissions by 50% by 2030 and achieve net-zero emissions by 2050. President Biden has set ambitious goals for reducing U.S. emissions, encouraging global partners to raise their targets as well. His administration has championed bottom-up action by building strong partnerships with businesses, unions, and local governments and by supporting efforts to provide investors with the data needed to understand climate-related risks and opportunities. Additionally, President Biden has enacted ambitious new regulations to safeguard the environment and public health, including imposing new limits on toxic pollution from power plants and petrochemical facilities.

To further accelerate the clean energy transition, the President has taken executive action and signed legislation aimed at expanding domestic clean energy production, accelerating the adoption of electric vehicles, reducing pollution in vulnerable communities, and preserving America's natural landscapes. These measures have already delivered tangible benefits-lowering energy costs for families, creating good-paying jobs, and solidifying America's leadership in the global clean energy economy. Driving this ambitious agenda has been a team of seasoned climate leaders assembled by President Biden, working tirelessly to ensure a sustainable future for future generations.

"Joe Biden has been an outstanding President. By signing the world's most significant investment in climate solutions into law, he has helped to lay the foundation for a just transition to America's clean energy future. I am grateful for his leadership on this issue both in the U.S. and on the global stage," said Former U.S. Vice President Al Gore, Founder and Chairman, The Climate Reality Project.

"President Biden came into office committed to the notion that addressing the climate crisis would be a definitional issue for his presidency. He led exactly that way from day one. In four years, he didn't just earn back America's credibility, he set a mark that will be remembered as the biggest four years in climate progress with the thinnest congressional majority imaginable to help deliver it," said John Kerry, former U.S. Secretary of State."Raising ambition through the new U.S. nationally determined contribution, restoring climate cooperation with China, passing the IRA, building a global coalition to reduce methane, and helping to forge the UAE Consensus have been pivotal in a race against time that is truly existential for our kids and grandkids. The planet is lucky to have had his presidency."

"I am more optimistic than ever about our ability to lead and win the fight against climate change thanks to President Biden. He is an American hero who has always put his country first. He will go down in history as one of the most successful presidents we have ever had," said Gina McCarthy, Managing Co-Chair, America Is All In, first White House National Climate Advisor, and 13th U.S. EPA Administrator. "After decades, we finally have smart policies that are opening up a world of possibilities across our country thanks to the Biden-Harris administration. People now have a sense of hope and promise because we are saving them money, growing good-paying union jobs, and building safer and healthier communities that reduce carbon pollution to protect our climate and our health. I am so grateful for all that he's done to put us on this path."

"President Biden, thank you for the passage of the Inflation Reduction Act-it is the most important piece of climate legislation to come out of Congress and it is transforming the country," said Bill Ritter, former Governor of Colorado and Founder and Director of the Center for the New Energy Economy (CNEE) at Colorado State University. "Thank you for your climate leadership, it makes a difference to states, to the country, and to people around the globe."

"President Biden, thank you for everything you're doing to accelerate the transition from fossil fuels to clean energy," said Ted Danson, Actor and Member of the Board of Oceana. "Without your work, all that ocean activism could go down the drain."

"President Biden has taken truly historic action to create a new clean economy with the Inflation Reduction Act," said Abigail Dillen, President of Earthjustice. "His administration has delivered urgently needed protections to cut pollution and scale clean energy solutions. He put climate action and environmental justice at the very top of his agenda, and the U.S. is making unprecedented progress as a result."

"President Biden has helped secure billions in financing for clean energy investments through incentives included in the Inflation Reduction Act and the Bipartisan Infrastructure Deal," said John Doerr, Chair, Kleiner Perkins. "These actions are helping lower costs for millions of Americans and are creating over 300,000 good paying clean energy jobs. His impact on the future of our nation and our climate is immeasurable. We applaud his dedication and commitment to advocating for and passing legislation that advances the transition to clean energy."

"President Biden's legacy on climate and environmental action is exemplary. America's future is cleaner, brighter, and more secure because of him," said Ben Jealous, Executive Director of the Sierra Club. "We are forever thankful for the environmental advances he ushered in and are committed to continuing the legacy of the Biden-Harris administration."

"President Biden is the most pro-environment, pro-climate president yet and we couldn't be more grateful for his leadership and service," said Gene Karpinski, President of the League of Conservation Voters. "Through the Inflation Reduction Act, and more than 300 administrative actions, President Biden made historic and consequential investments in clean energy, environmental justice, and protections for air, water and public lands-all while taking the most monumental steps our country ever has to confront the climate crisis."

"Joe Biden has taken more action to address the climate crisis than any president before him. He has followed through on his climate promises, and the benefits of his actions are already being felt by citizens, businesses, and the environment,"said Fred Krupp, President of the Environmental Defense Fund. "The Biden administration will go down in history for passing legislation to help protect our communities from the impacts of climate change."

"Over the last four years, President Biden has taken more significant climate action than any president before him. From standing up to Big Oil to advancing clean energy solutions, his administration has made unprecedented strides in combating the climate crisis. His leadership has been critical in moving the U.S. towards a more sustainable future for everyone," said Bill McKibben, Founder of 350.org.

"President Biden has been one of the environmental justice movement's strongest allies," said Peggy Shepard, Co-Founder and Executive Director of WE ACT for Environmental Justice. "Within a week of taking office, he signed an executive order enacting his Justice40 Initiative, and then delivered on that promised investment with the Inflation Reduction Act and the Bipartisan Infrastructure Law, setting aside hundreds of billions of dollars to be directed to environmental justice communities."

"We are deeply grateful to President Biden, and recognize you as a climate hero for limiting new offshore oil and gas drilling in key coastal areas, and for achieving the most important legislation ever to transition the United States away from fossil fuels. Thank you," said James (Jim) Simon, CEO of Oceana.

"From day one, President Biden has demonstrated that climate action and environmental justice go hand in hand. The threat of environmental injustice is felt by communities every day: in toxic spills, chemical flares, and petrochemical facilities that pollute day and night. But under President Biden's leadership, the US has taken important steps to fight injustice and invest in communities that need it most," said Heather McTeer Toney, Executive Director of Bloomberg Philanthropies' Beyond Petrochemicals campaign. "Our economy has created millions of new jobs while cutting climate pollution with clean air standards. We are now on a path to cut emissions in half by 2030. With Justice40, the Inflation Reduction Act, and the first-ever White House Summit on Environmental Justice, President Biden's transformative leadership has created a legacy of action that generations will benefit from and build upon."

"Thank you, President Biden for all you and your administration are doing to lead America safe and strong through the climate crisis, and to protect our one blue planet for our children and grandchildren," said Sam Waterston, Actor and Chairman of the Board of Oceana. "What a difference you're making."

"President Biden leveled up on climate justice in a way no administration, democrat or republican has done before," said Rev. Lennox Yearwood, Jr., Beyond Petrochemicals Campaign Chair and CEO of the Hip Hop Caucus. "With the American Climate Corps, he didn't just cut pollution-he opened doors for Black, Latinx, and Indigenous communities to thrive in a clean energy future. Biden made it clear: climate justice is racial justice, paving the way for a sustainable future where people have real power."

Bloomberg Philanthropies focuses on five key environment pillars: clean energy, local action, air quality, ocean advocacy, and climate finance - all of which have benefited from the Biden Administration's bold climate leadership. Specifically:

• Clean energy: Through the passage of transformative legislation such as the Inflation Reduction Act and the Bipartisan Infrastructure Law, the Biden Administration re-established the U.S. role as a global climate leader. The Inflation Reduction Act (IRA) has catalyzed billions of dollars in clean energy investments by optimizing incentives, including coal transition financing and clean energy tax credits. These measures align with Bloomberg's efforts to transition the U.S. to clean energy, notably through the Beyond Coal and Beyond Carbon campaigns. To date, the Beyond Coal campaign has successfully retired 73% of U.S. coal-fired power plants, with 144 remaining.
• Air quality: The Biden Administration's power plant rules and subsequent methane emissions reduction plan will significantly reduce air, water, and land pollution from coal and gas plants. In addition to targeting some of the major sources of carbon pollution, these rules also deliver on Bloomberg Philanthropies and the administration's shared goal of protecting public health and advancing environmental justice efforts.
• Local action:The Inflation Reduction Act has injected a historic amount of federal funding into local governments,driving 585 clean energy projectsand creating334,565 clean energy jobsin nearly every state in the country. The funding is helping to deliver on Bloomberg's ongoing efforts to empower local climate action through initiatives like the Bloomberg American Cities Climate Challenge, America Is All In (originally America's Pledge),Bloomberg American Sustainable Cities, andsupport for organizationsincluding C40 Cities, Climate Mayors, and more.
• Climate finance: The Biden Administration has demonstrated strong leadership in advancing market-driven climate solutions. This year, the U.S. Securities and Exchange Commission (SEC) adopted landmark rules requiring companies to disclose climate-related risks, based on the framework developed by the Task Force on Climate-Related Financial Disclosures (TCFD), chaired by Mike Bloomberg. Bloomberg alsosupportsthe Administration's principles for high-integrity voluntary carbon markets (VCMs), recognizing their crucial role in directing capital to vital climate projects, particularly in emerging and developing economies.
• Ocean advocacy:The Biden Administration's "America The Beautiful" initiative seeks to achieve the goal shared byBloomberg Ocean Initiativeof protecting at least 30 percent of the country's land and waters by 2030. The Administration has also made historic strides toward protecting the ocean by signing onto theHigh Seas Treatyand laying out anOcean Climate Action Plan, a whole-of-government approach to take effective and innovative ocean climate action.

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About Bloomberg Philanthropies:
Bloomberg Philanthropies invests in 700 cities and 150 countries around the world to ensure better, longer lives for the greatest number of people. The organization focuses on creating lasting change in five key areas: the Arts, Education, Environment, Government Innovation, and Public Health. Bloomberg Philanthropies encompasses all of Michael R. Bloomberg's giving, including his foundation, corporate, and personal philanthropy as well as Bloomberg Associates, a philanthropic consultancy that advises cities around the world. In 2023, Bloomberg Philanthropies distributed $3 billion. For more information, please visit bloomberg.org,sign up for our newsletter,or follow us on Instagram, LinkedIn, YouTube, Threads, Facebook, and X.

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