While many big name philanthropists are backing away from climate giving, Michael Bloomberg, the former New York City mayor and founder of Bloomberg L.P., has announced $590 million in new environmental commitments. Some $285 million 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. 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.
