Bloomberg to put $500M into closing all remaining coal plants by 2030

/ AP

Former New York City Mayor Michael Bloomberg is plunging $500 million into an effort to close all of the nation's remaining coal plants by 2030 and put the United States on track toward a 100% clean energy economy.

The billionaire Bloomberg's investment in the Beyond Carbon initiative marks the largest ever philanthropic effort to combat climate change, according to the mayor's foundation. The organization will bypass the federal government and instead seek to pass climate and clean energy policies, as well as back political candidates, at the state and local level.

"We're in a race against time with climate change, and yet there is virtually no hope of bold federal action on this issue for at least another two years. Mother Nature is not waiting on our political calendar, and neither can we," Bloomberg said.

Climate Change More

More in Climate Change

Bloomberg considered but ultimately passed on seeking the 2020 Democratic presidential nomination. Instead, he vowed to point his vast wealth and political connections toward fighting climate change and defeating President Trump.

Bloomberg will formally unveil the Beyond Carbon effort Friday during a commencement address at the Massachusetts Institute of Technology.

The initiative mirrors Bloomberg's work on gun control, which has focused on bolstering state and local efforts. The former mayor's financial contributions to Democratic candidates who backed stricter gun laws was also considered integral to the party's ability to retake the House in 2018.

Bloomberg's foundation has spent several years working with the Sierra Club to seek the closure of the nation's coal plants. Since 2011, about half of the 530 plants across the U.S. have been closed.

First published on June 6, 2019 / 10:38 PM

© 2019 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.

How to watch the Tony Awards

James Corden of "The Late Late Show" will host the Tony Awards for a second time on CBS this Sunday

58M ago

Bloomberg to put $500M into closing all coal plants by 2030

The former New York City mayor is trying to put the U.S. on track toward 100% clean energy economy — while bypassing the federal government

13M ago

Biden reverses course on abortion funding

"I can't justify leaving millions of women without access to the care they need and the ability to exercise their constitutional protected right," Biden said Thursday

updated 9M ago

Memorial services begin for victims of Virginia Beach shooting

Thursday night's funeral mass​ for Katherine "Kate" Nixon in Virginia Beach was among the first memorial services for the 12 people who died in Friday's massacre

1H ago

Legendary New Orleans musician Dr. John dies

In a statement released through his publicist, the family said Dr. John died "toward the break of day" of a heart attack

1H ago

Bloomberg to put $500M into closing all coal plants by 2030

The former New York City mayor is trying to put the U.S. on track toward 100% clean energy economy — while bypassing the federal government

13M ago

Biden reverses course on abortion funding

"I can't justify leaving millions of women without access to the care they need and the ability to exercise their constitutional protected right," Biden said Thursday

updated 9M ago

Mueller witness Nader remains in custody after child porn charge

George Nader, a witness during the Mueller investigation, was charged with one count of child pornography

4H ago

U.S. tariffs "still moving forward" as Mexico makes offer on migrant crisis

President Trump has vowed to impose tariffs on Mexican goods starting Monday unless the country's government curbs migration from Central America

5H ago

House to vote on holding Barr and McGahn in contempt

House Democrats are accusing Barr and McGahn of failing to comply with congressional subpoenas

5H ago

24,000 pounds of garbage removed from Mount Everest

Among the 11 tons of recovered trash from the 45-day project are food wrappers, cans, bottles and empty oxygen cylinders.

updated 30M ago

U.S. tariffs "still moving forward" as Mexico makes offer on migrant crisis

President Trump has vowed to impose tariffs on Mexican goods starting Monday unless the country's government curbs migration from Central America

5H ago

U.S. Women favored to win the World Cup

Can the U.S. women take home their fourth World Cup this year?

5H ago

D-Day veteran brings wife to Normandy to share memories

Vern Ollar, now 97, was 22 when he landed at Omaha Beach, the site of the worst American carnage of the Normandy landings

10H ago

D-Day historian: "Everything was at stake" in iconic operation

"Every month [World War II] extended it was more death, more mass murder, starvation. The situation couldn't have been more dire"

11H ago

How to watch the Tony Awards

James Corden of "The Late Late Show" will host the Tony Awards for a second time on CBS this Sunday

58M ago

Highest-grossing movies of all time, ranked

What's the highest-grossing movie of all time? It might be one of your favorites

Jun 4 27 photos

Legendary New Orleans musician Dr. John dies

In a statement released through his publicist, the family said Dr. John died "toward the break of day" of a heart attack

1H ago

R. Kelly pleads not guilty to 11 new sexual assault charges

The award-winning R&B singer has denied the allegations against him

8H ago

Human trafficking in fishing industry

Shannon Service and Julia Ormond, the director and executive producer of the documentary "Ghost Fleet," joined CBSN AM to explain how thousands of people a year are forced into slavery on fishing vessels. They discuss how overfishing led to the problem and what you can do to help.

4H ago 10:51

Beyond Meat stock price soars ever higher after first earnings as public company

Market experts warn the vegan meat company's sky-high stock price — up 350% since its IPO last month — is hard to justify

5H ago

Uber to offer helicopter taxi service in NYC

Uber Copter will take select "members" on an 8-minute flight to or from Wall St. and JFK Airport — for a $200-to-$225 price

1H ago

FCC allows automatic blocking of robocalls

Phone companies can now block robocalls by default, but they are permitted to charge you for the service

10H ago

Diet and fitness apps dominate the market — but is your health data safe?

More than 80 percent of dieters are turning to do-it-yourself options like diet and fitness apps

14H ago

Tamagotchis are back, and they're $60

Fans rejoice as the original "cyberpet" of the 1990s gets an update with Bluetooth and other 2019 technology

11H ago

24,000 pounds of garbage removed from Mount Everest

Among the 11 tons of recovered trash from the 45-day project are food wrappers, cans, bottles and empty oxygen cylinders.

updated 30M ago

Dog owners may be stressing out their pets, study suggests

Researchers on border collies and Shetland sheepdogs, and examined coritsol levels in the hair follicles of both the pet and its owner

6H ago

Trump administration plans to expand hunting and fishing access

The plan seeks to increase access hunting and fishing access across 1.4 million acres of protected federal lands.

22H ago

Ladybug swarm so large it registers on radar in Southern California

"The large echo showing up on SoCal radar … is not precipitation, but actually a cloud of lady bugs …" a tweet from the National Weather Service in San Diego read

Jun 5

Corporations say climate change will cost them $1 trillion

Businesses are starting to put numbers on their exposure to climate-change disruptions — and they're very high

Jun 5

Biden reverses course on abortion funding

"I can't justify leaving millions of women without access to the care they need and the ability to exercise their constitutional protected right," Biden said Thursday

updated 9M ago

Whole Foods recalls pesto in 5 states due to undeclared nuts

Grocery chain sold two products that could pose risk of serious or life-threatening allergic reactions, FDA says

12H ago

Diet and fitness apps dominate the market — but is your health data safe?

More than 80 percent of dieters are turning to do-it-yourself options like diet and fitness apps

14H ago

Doctor charged with 25 deaths ordered doses up to 40 times too strong

The charges form one of the biggest murder cases ever brought against a U.S. health care professional

15H ago

11 photos of former NICU babies show how far they've come

These babies proudly hold photos of their former selves to celebrate their amazing progress since graduating from the Neonatal Intensive Care Unit

Jun 5 11 photos

Beyond Meat stock price soars ever higher after first earnings as public company

Market experts warn the vegan meat company's sky-high stock price — up 350% since its IPO last month — is hard to justify

5H ago

Ford: U.S. tariffs on Mexico would do "significant" damage

As U.S. and Mexican officials wrangle over a deal, a top auto exec says trade sanctions would dent the industry

5H ago

Automation could throw millions of women out of work

Advances in labor-saving technology will result in women losing nearly as many jobs as men, hitting nearly 25% in the U.S.

6H ago

How Trump's tariffs on China and Mexico could hurt the U.S.

With the White House poised to ramp up its trade fights, experts worry about the toll on consumers and businesses

7H ago

Uber to offer helicopter taxi service in NYC

Uber Copter will take select "members" on an 8-minute flight to or from Wall St. and JFK Airport — for a $200-to-$225 price

1H ago

Memorial services begin for victims of Virginia Beach shooting

Thursday night's funeral mass​ for Katherine "Kate" Nixon in Virginia Beach was among the first memorial services for the 12 people who died in Friday's massacre

1H ago

NYC council speaker on NYPD apology

New York City Council Speaker Corey Johnson, who is gay, joins CBSN to discuss NYPD Commissioner James O'Neill's apology for the department's reaction to the 1969 Stonewall Inn riots. Johnson also discussed current Mayor Bill de Blasio and his plans for New York City's 2021 mayoral race.

updated 43M ago 05:05

3 Americans died at Dominican resort

A Maryland couple was found dead in their room at a resort in the Dominican Republic just days after a Pennsylvania woman died at the same resort. Now the FBI is investigating their deaths. Janet Shamlian reports.

3H ago 01:29

Rape conviction overturned, West Point cadet returns to campus

Judges' decision "is victim-blaming," said a former military chief prosecutor. "It reads like something from decades ago."

4H ago

Former Parkland deputy Scot Peterson released on bail

Peterson was the deputy on duty at Marjory Stoneman Douglas High School when 17 people were killed

6H ago

Jupiter's largest moons will be visible this month

NASA has a message for space lovers this month: Look up

Jun 5

NASA taps 3 companies for moon missions

If all goes well, the landers will touch down on the moon in 2020 and 2021

May 31

Cosmonauts honor spacewalk pioneer on eve of 85th birthday

Cosmonauts dedicate spacewalk to Alexey Leonov, who carried out the first spacewalk in 1965

May 29

SpaceX readying crew ship for flight by end of year

SpaceX, working through a Crew Dragon failure probe, is protecting possible end-of-year flight

May 28

NASA awards contract for future moon station

NASA is moving ahead with plans to send astronauts back to the moon by 2024

May 23

11 photos of former NICU babies show how far they've come

These babies proudly hold photos of their former selves to celebrate their amazing progress since graduating from the Neonatal Intensive Care Unit

Jun 5 11 photos

Evidence photos in the disappearance of Jodi Huisentruit

Jodi Huisentruit, the morning news anchor at Iowa's KIMT-TV was reported missing on June 27, 1995. Mason City Police are still at work trying to solve this case 23 years later.

Jun 1 26 photos

Horrifying photos of Chernobyl and its aftermath

HBO's drama provided a devastating look at the worst nuclear accident of the 20th century. Now see what really happened.

May 31 39 photos

Memorial Day 2019: America honors the fallen

Remembering the sacrifices made by service members in our nation's wars

May 27 37 photos

John & Jacque: A tale of love and war

A look at John Needham, Jacque Villagomez and the events that led to her death

May 25 14 photos

Popular

Biden says he no longer supports Hyde Amendment

Former Vice President Joe Biden said Thursday he's against the Hyde Amendment, which bans federal funding for abortions in most cases, reversing course from his earlier position after criticism from his 2020 Democratic rivals. CBS News political correspondent Ed O'Keefe joins CBSN's "Red and Blue" with the latest details.

updated 27M ago 07:35

Dr. John dies at 77

Dr. John, New Orleans' legendary six-time Grammy Award winning pianist, performer and 2011 Rock and Roll Hall of Fame inductee, has died, his family said. He was 77. Eric Paulsen of CBS New Orleans affiliate WWL-TV reports on Dr. John's life and legacy.

updated 43M ago 03:02

6/6/19: Red and Blue

Negotiating with Mexico to avoid Trump's tariffs; Trump honoring D Day vets on 75th anniversary

updated 2M ago 52:56

NYC council speaker on NYPD apology

New York City Council Speaker Corey Johnson, who is gay, joins CBSN to discuss NYPD Commissioner James O'Neill's apology for the department's reaction to the 1969 Stonewall Inn riots. Johnson also discussed current Mayor Bill de Blasio and his plans for New York City's 2021 mayoral race.

updated 43M ago 05:05

Uber to offer helicopter rides in NYC

Ride-hail service Uber is about to go airborne: The company said Thursday it's readying its first helicopters for takeoff in New York City starting July 9. Uber is rolling out Uber Copter service for its Uber Reward Platinum and Diamond cardholders, offering the top-tier members an 8-minute helicopter ride to or from the Downtown Manhattan Heliport near Wall Street and John F. Kennedy International Airport.

1H ago 00:32