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Michael Bloomberg Steps Up To Fill U.S. Climate Leadership Gap After Paris Agreement Exit

On January 20, 2025, the first day of his second term, the 47th President of the United States Donald Trump signed an executive order withdrawing the U.S. from the Paris Agreement. In response to this move, Michael Bloomberg’s philanthropic organization has once again stepped in to ensure the nation’s global climate commitments are upheld. 

Bloomberg Philanthropies announced on Thursday its plans to bridge the financial and reporting gaps left by the U.S. government, supporting the United Nations Framework Convention on Climate Change (UNFCCC) and maintaining momentum in the fight against climate change.

Commitment To Climate Action

In a statement, Bloomberg, who serves as the UN Secretary-General’s Special Envoy on Climate Ambition and Solutions, reaffirmed his organization’s dedication to bridging the gap created by the U.S. withdrawal. “During prior periods of federal inaction, cities, states, businesses, and individuals rose to meet the challenge of upholding our nation’s commitments—and we’re prepared to do it again,” Bloomberg stated.

Bloomberg Philanthropies, along with other American climate financiers, will ensure the U.S. remains engaged in global climate efforts. This includes providing funding to the UNFCCC and maintaining the reporting standards required under the Paris Agreement.

This marks the second time Bloomberg Philanthropies has taken on this role. The organization previously stepped up in 2017, during Donald Trump’s presidency, when the administration also opted out of the Paris Agreement.

Driving Change At Multiple Levels

Bloomberg Philanthropies has been instrumental in empowering local leaders, equipping businesses with tools to monitor emissions, and fostering collaborations across public and private sectors. Bloomberg emphasized the importance of philanthropy in sustaining climate progress, particularly when federal action falters.

By The Numbers

  • The U.S. typically provides 22% of the UNFCCC secretariat’s budget, a contribution Bloomberg Philanthropies will help replace.
  • The UNFCCC’s operating costs for 2024–2025 are projected to total $91.9 million (€88.4 million).

Bloomberg’s Wealth And Influence

Ranked 16th on Forbes’ Real-Time Billionaires List, Michael Bloomberg boasts a net worth of $104.7 billion as of January 23, 2025. His financial power continues to play a pivotal role in supporting global climate ambitions, even as the federal government steps back from its responsibilities.

By stepping in to fill this leadership void, Bloomberg underscores how private entities can drive meaningful change on a global scale, even in the absence of federal support.

Forbes Middle East Unveils 100 Most Powerful Businesswomen Of 2025

Forbes Middle East has unveiled its much-anticipated 2025 ranking of the region’s top businesswomen, spotlighting influential leaders reshaping industries and driving meaningful transformation. The list was based on business size, individual accomplishments, leadership impact, and corporate social responsibility initiatives.

Top Spot For Hana Al Rostamani

For the third consecutive year, Hana Al Rostamani, Group CEO of First Abu Dhabi Bank (UAE’s largest bank by assets), claims the top position. In addition to retaining her position in the Forbes Middle East ranking, she was also featured on Forbes’ 2024 list of the World’s Most Powerful Women, securing the 60th position globally. Under her leadership, the bank achieved an impressive $3.5 billion in net profits and $334.8 billion in assets in the first nine months of 2024.

Rising Stars In The Top 10

Shaikha Khaled Al Bahar of NBK Group and Shaista Asif, cofounder and Group CEO of PureHealth Holding, take the second and third spots respectively, completing the top three.

The top 10 remains largely unchanged from last year, with Tayba Al Hashemi of ADNOC Offshore, Alisha Moopen of Aster DM Healthcare GCC, and Suzanne Al Anani of Dubai Aviation Engineering Projects (DAEP) making their debut in the top 10. In total, 27 new leaders have joined the list this year.

A Diverse And Powerful Group Of Women

This year’s list features 100 women from 32 sectors and 29 nationalities, underlining the diversity of talent driving the region’s progress. The banking and financial services sector leads with 25 entries, followed by healthcare and technology with nine each, and venture capital with five. Remarkably, 40% of the top 10 women are from the banking and financial services sector. Notably, Shaista Asif (PureHealth Holding) and Alisha Moopen (Aster DM Healthcare GCC) are the only non-Arab women in the top 10.

UAE Leads With 46 Leaders

The UAE continues to dominate, with 46 of the women on the list hailing from the country, solidifying its status as a global business hub. Egypt follows with 18 influential women, and Saudi Arabia claims nine entries. Egyptians lead in representation, followed by Emiratis and Lebanese women.

Empowering Women Through Initiatives

Several of the leaders have focused on upskilling and creating opportunities for women. Susana Rodriguez Puerta launched the ‘sAIdaty’ initiative in collaboration with the Dubai Business Women Council, aimed at providing 500 female council members in the UAE with AI skills. Similarly, Lamia Tazi of SOTHEMA collaborated with the Foundation for Research, Development, and Innovation in Science and Engineering to provide scholarships to PhD students from low-income backgrounds.

Click here for the full list.

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