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Climate: An influx of cash
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Many philanthropists are backing away from climate giving. But one is writing very big checks.
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<div style="width:100%;margin-bottom:31px;font:12px/12px georgia,serif">
June 23, 2026
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<img alt="Michael Bloomberg, surrounded by other people, standing in a dark suit and purple striped tie." class="css-18ei5jy" height="333" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F06%252F23%252Fmultimedia%252F23cli-newsletter-bloomberg-01-pmbh%252F23cli-newsletter-bloomberg-01-pmbh-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3ODIyNDQ1MzYuNDc0MDkzMn0:1wc7Dc:CEDlaLjCwyq_rjzfGrS-yvSz8qkVmzA353Mrgi4suMY" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:8px" width="500"/>
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<span class="css-14cus5q" style="display:inline-block;width:83%;max-width:500px;text-align:left">
<span style="color:#666;font:normal 14px georgia,serif">
Michael Bloomberg, the billionaire and former mayor of New York City, at a climate forum in London on Tuesday.
</span>
<span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em">
Justin Tallis/Agence France-Presse — Getty Images
</span>
</span>
</td>
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<h1 style="color:#000;font:400 30px/37.5px georgia,serif;margin:0 0 12px">
<span>
An influx of climate cash
</span>
</h1>
<div style="margin:0 auto;max-width:600px;width:100%">
<table cellpadding="0" style="width:100%">
<tbody>
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<td style="padding:0 9px 0 0;box-sizing:content-box;vertical-align:middle;width:45px" valign="middle" width="45">
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<img alt="Author Headshot" height="45" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2018%252F07%252F24%252Fmultimedia%252Fauthor-david-gelles%252Fauthor-david-gelles-blogSmallThumb-v8.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3ODIyNDQ1MzYuNDc0MjAyNn0:1wc7Dc:zznaV8DR5ZzZVMuQi4aL0MnxQpaahiEhvsvuytXc5Kk" style="width:45px;height:45px;border-radius:100%" width="45"/>
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<p style="font:13px/18px arial,sans-serif;letter-spacing:.2px;color:#000;font:600 13px/18px arial,sans-serif;margin-bottom:3px">
By
<a class="css-nanfcg" style="-webkit-text-decoration:underline;text-decoration:underline;-webkit-text-decoration:none;text-decoration:none;border-bottom:1px solid #ccc;color:inherit">
David Gelles
</a>
</p>
</td>
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<td height="15">
</td>
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</tbody>
</table>
</div>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
While many big name philanthropists are backing away from climate giving, at least one megadonor is stepping up and writing major checks.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Michael Bloomberg, the former New York City mayor and founder of Bloomberg L.P., has announced $590 million in new environmental commitments in recent days.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
The funds will flow from Bloomberg Philanthropies, his charitable organization, and support work on ocean conservation, energy transition and efforts to combat air pollution.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Some
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
$285 million
</a>
<span>
will go to efforts accelerating the transition away from fossil fuels and toward renewable energy at a moment when the Iran conflict is rattling energy markets.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Bloomberg Philanthropies said it would do this by supporting renewable energy industry associations, providing data and analysis on the industry and advising regulators and grid operators.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Among the groups set to receive funds are Ember, an energy research firm; Global Energy Monitor, a nonprofit group that collects energy data; the World Resources Institute, a think tank that focuses on climate and development issues; and the University of Maryland Center for Global Sustainability.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
“Fossil fuels used to be viewed as reliable and secure and it was renewable energy that was viewed as volatile and intermittent,” said Antha Williams, who leads the environment program at Bloomberg Philanthropies. “That has flipped on its head. Supporting clean energy work in these emerging and developing markets feels very timely.”
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
An additional $260 million will be spent on efforts to protect the oceans. Grantees include the Wildlife Conservation Society, the Woods Hole Oceanographic Institution, Global Fishing Watch and Oceana.
</span>
</p>
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<td style="text-align:center">
<img alt="Workers in safety suits and hard hats wrangle a large yellow buoy on the rear deck of a research ship." class="css-18ei5jy" height="333" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F06%252F23%252Fmultimedia%252F23cli-newsletter-bloomberg-02-pmbh%252F23cli-newsletter-bloomberg-02-pmbh-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3ODIyNDQ1MzYuNDc0MzEzfQ:1wc7Dc:rLsHVlpvwc_TRBJ9o0uWaioXke6Y3dJOTcDGvvqACDs" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:8px" width="500"/>
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<span class="css-14cus5q" style="display:inline-block;width:83%;max-width:500px;text-align:left">
<span style="color:#666;font:normal 14px georgia,serif">
Workers deployed equipment near Greenland last year to collect ocean data for the Woods Hole Oceanographic Institute. The institute is one of Mr. Bloomberg’s grantees.
</span>
<span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em">
Esther Horvath for The New York Times
</span>
</span>
</td>
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</tbody>
</table>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Williams said a key focus of the oceans work would be supporting the creation of new marine protected areas in international waters. And for the first time, Bloomberg Philanthropies will be funding efforts to restore coral reefs.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
A final $45 million of the Bloomberg Philanthropies funds will support programs to improve air quality in major cities around the globe.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Funding climate issues was, until recently, a popular pursuit of the billionaire class. Bill Gates, Jeff Bezos and Mark Zuckerberg were among the tech titans who made huge pledges to address global warming.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
But since President Trump’s return to office, many of those efforts have gone quiet or fizzled altogether.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Early last year, Gates
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
slashed funding to Breakthrough Energy
</a>
<span>
, his main climate group. Then in October, he
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
issued a memo
</a>
<span>
warning against climate alarmism.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Bezos
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
committed to spend $10 billion
</a>
<span>
on climate issues back in 2020. But the Bezos Earth Fund, which he set up to administer his giving, is well behind its goal of spending its funds by 2030,
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
Bloomberg News has reported
</a>
<span>
.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
And Zuckerberg, who once funded climate issues through his foundation, the Chan Zuckerberg Initiative, appears to have
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
stopped his environmental giving
</a>
<span>
.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Other climate funders are trying to effect change through academia and politics. Tom Steyer, the former hedge fund manager turned climate activist, spent $558 million on a failed bid to become governor of California. And the venture capitalist John Doerr
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
donated $1.1 billion
</a>
<span>
to Stanford University to fund a climate school.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Bloomberg, meanwhile, has spent much of his fortune supporting efforts to close coal plants and
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
block the expansion of the petrochemical industry
</a>
<span>
.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
“Mike has been very steadfast in his commitment to global climate action,” Williams said. “We get outreach from people who are saying, ‘We want to take action to solve the urgent problem of climate change,’ or ‘We need your help to transition to less polluting sources of energy,’ Mike has told us to answer that call.”
</span>
</p>
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<img alt="A person in a sun dress stands directly in the spray from a misting device." class="css-18ei5jy" height="333" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F06%252F23%252Fmultimedia%252F23cli-newsletter-bloomberg-03-ltfj%252F23cli-newsletter-bloomberg-02-ltfj-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3ODIyNDQ1MzYuNDc0NzY0OH0:1wc7Dc:6nUaHEykKsntuP22EHbL2zaugQR3U0IAyuDQNLSnROY" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:8px" width="500"/>
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<span class="css-14cus5q" style="display:inline-block;width:83%;max-width:500px;text-align:left">
<span style="color:#666;font:normal 14px georgia,serif">
A cooling point in Berlin on Monday.
</span>
<span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em">
John Macdougall/Agence France-Presse — Getty Images
</span>
</span>
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<h2 style="color:#000;font:400 25px/32.5px georgia,serif;margin:0 0 10px">
<span>
How much hotter can Europe get?
</span>
</h2>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Summer is just getting started, but Western Europe is already sweating through its
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
second severe heat wave
</a>
<span>
of the year. Greenhouse gases from burning fossil fuels are raising temperatures across the globe, and Europe is warming faster than any other continent.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
That’s prompting scientists to study an urgent question: How hot can a heat wave actually get? Not in future decades, as global warming continues, but today. Maybe even this summer.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
“We do know that heat waves are becoming more severe and more frequent, and they’re lasting longer,” said Rebecca Emerton, a senior scientist at the European Centre for Medium-Range Weather Forecasts in Reading, England. What’s striking now, Dr. Emerton said, is the big margins by which temperature records are being broken. —
</span>
<span style="font-style:italic">
Raymond Zhong
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-weight:700">
Read more
</a>
<span>
.
</span>
</p>
<table width="100%">
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</td>
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<ul class="css-1dtd48z" style="color:#333;font:10px georgia,serif;text-align:left;padding-left:50px">
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
Here’s
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
what to know about the heat in Europe
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
.
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
A deadly 2003 heat wave prompted new protections.
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
Now they’re being tested
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
.
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
At least
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
40 people have drowned in France
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
while trying to cool off.
</span>
</li>
</ul>
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<span>
A climate website lives again
</span>
</h2>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
A group of former government workers has recreated a valuable climate-science database shuttered last year under the Trump administration.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
The new site,
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
climate.us
</a>
<span>
, is an effort by former staff members at the National Oceanic and Atmospheric Administration to preserve climate science previously housed at climate.gov, including data, reports, articles and congressionally mandated national climate assessments.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
The new site is effectively the “first full clone” of the original, said Rebecca Lindsey, managing director of climate.us.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
“The best solutions to our climate challenges are going to come from a climate literate public,” Ms. Lindsey said. The
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
new site became fully active
</a>
<span>
on Tuesday morning. —
</span>
<span style="font-style:italic">
Quinn Glabicki
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
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<img alt="Steam rises from a nuclear reactor cooling tower." class="css-7y77sk" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F06%252F23%252Fmultimedia%252F23cli-nuclear-loans-01-lhkz%252F23cli-nuclear-loans-01-lhkz-square640.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3ODIyNDQ1MzYuNDc0ODcyOH0:1wc7Dc:c9v-srVBJwl4kam9ltgbQ4KBUlhD_efDyKIVmdFaoPY" style="width:291px;box-sizing:border-box;vertical-align:top" width="291"/>
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Energy Dept. Unveils $17.5 Billion Plan to Kick-Start New Nuclear Plants
</h3>
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The federal government wants to help utilities buy large components for up to 10 large nuclear reactors. It’s unclear which, if any, companies might participate.
</p>
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By Brad Plumer
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<img alt="Drilling equipment stands on sandy ground." class="css-7y77sk" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F06%252F17%252Fmultimedia%252F00cli-drilling-fqpt%252F00cli-drilling-fqpt-square640.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3ODIyNDQ1MzYuNDc0OTc3fQ:1wc7Dc:AyRKk71UPEJytAAhtnUD9woay8lvHmniz-Wd7ItbTas" style="width:291px;box-sizing:border-box;vertical-align:top" width="291"/>
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Paul Ratje for The New York Times
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Interior Department Moves to Relax Rules for Drilling on Public Lands
</h3>
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A pair of proposals from the Trump administration would lower costs and weaken requirements for fossil fuel companies that drill on federal property.
</p>
<p style="color:#000;font:600 13px/18px arial,sans-serif;margin:0;letter-spacing:.2px">
By Maxine Joselow
</p>
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Acacia Johnson for The New York Times
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Justice Department Makes It Easier to Bypass Pollution Controls on Pickups
</h3>
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It has stopped criminal prosecutions of people who install “defeat devices,” which make diesel trucks faster and more efficient but also dirtier.
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Nathan Weyland for The New York Times
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California Needs Water and Clean Power. It Might Have a Fix for Both.
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A pilot program is building solar panels over irrigation canals to generate electricity. As a bonus, the shade prevents water from evaporating.
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By Quinn Glabicki
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1 month, 1 week ago - nytdirect@nytimes.com
Many philanthropists are backing away from climate giving. But one is writing very big checks.Vie...