Michael Bloomberg energy
Michael Bloomberg Ralph Alswang

Michael Bloomberg has decided not to run for president at the next US election, he says because he believes his energies are better spent pushing for the clean-energy transition outside government. 

The former mayor of New York City and founder and majority owner of Bloomberg LP is instead launching a “new, even more ambitious” phase of the Beyond Coal campaign called Beyond Carbon: “a grassroots effort to begin moving America as quickly as possible away from oil and gas and toward a 100 per cent clean energy economy.”

“I love our country too much to sit back and hope for the best as national problems get worse. But I also recognise that until 2021, and possibly longer, our only real hope for progress lies outside of Washington,” he wrote in an opinion piece for Bloomberg News (an ancillary company of Bloomberg LP).

“And unlike most who are running or thinking of it, I’m fortunate enough to be in a position to devote the resources needed to bring people together and make a big difference.”

According to his Wikipedia page, Mr Bloomberg provided philanthropic funding to US environmentalist organisation Sierra Club’s Beyond Carbon campaign since 2011.

“At the heart of Beyond Carbon is the conviction that, as the science has made clear, every year matters. The idea of a Green New Deal — first suggested by the columnist Tom Friedman more than a decade ago — stands no chance of passage in the Senate over the next two years. 

“But Mother Nature does not wait on our political calendar, and neither can we.”

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  1. From what I read, Bloomberg’s ‘Beyond Coal’ is gearing very much toward gas rather than renewables where he is also big investor. Considering the controversies around fracking of gases and potential of release of Methane that has global warming potential much higher than coals’, it is important to track these bold statements and hold the millionaires accountable for what they actually are doing rather than what they are saying.