Bloomberg philanthropy to cover U.S. climate dues after Paris withdrawal

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Bloomberg philanthropy to cover U.S. climate dues after Paris withdrawal
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The Singaporean died weeks after she underwent emergency brain surgery after a skiing accident in December. She was 52.

FILE PHOTO: Special envoy to the United Nations for climate change Michael Bloomberg speaks during the One-on-One discussion panel with International Monetary Fund Managing Director Christine Lagarde on side of the IMF/World Bank spring meeting in Washington, U.S., April 19, 2018. REUTERS/Yuri Gripas/File Photo

WASHINGTON - Former New York Mayor Michael Bloomberg's philanthropy and other U.S. funders said on Thursday they will cover U.S. financial obligations to the UN climate framework after President Donald Trump called for the U.S. to withdraw - for a second time - from the Paris climate agreement. Bloomberg, a media billionaire who also serves as a UN special envoy on climate change, announced Bloomberg Philanthropies will once again cover the amount of money the U.S. owes each years to the United Nations Framework Convention on Climate Change and ensure the U.S. meets its emissions reporting obligations to the body despite the pullback from global climate diplomacy under Trump.

The secretariat, set up under the 1992 UNFCCC treaty, is the world's key body for coordinating international efforts to reduce climate-warming emissions and staging summits where countries can hold one another accountable. It is experiencing a severe budget shortfall, according to a Reuters analysis of documents from the world body.

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