Michael Bloomberg Plans a $242 Million Investment in Clean Energy – The New York Times

by | May 17, 2022 | Energy

More than 750 million people worldwide lack electricity, and energy poverty is a powerful driver of economic and health inequality. Although Mr. Bloomberg’s investment is meant to combat climate change, Ms. Ogunbiyi said the funds could also help address a variety of crises caused or worsened by the lack of electricity, among them food scarcity and poor medical care.“It’s important to understand that this is a crisis on its own,” she said. “People not having access to electricity or clean cooking isn’t an inconvenience. It’s the difference between life and death for a lot of people, and it needs to be treated as an emergency.”Understand the Latest News on Climate ChangeCard 1 of 5Hurricanes and air pollution. A new study found that particulate air pollution has a significant effect on the frequency of hurricanes. Over the past four decades, the decline in air pollution in North America and Europe was associated with a rise in the number of hurricanes; increasing pollution from growing economies had the opposite effect.Fighting fire with fire. As deadly wildfires become increasingly common across America, the country is embracing planned fires to clear away vegetation and contain the risk of wildfires. But in many places, the changing climate is making these intentional burns much more complicated to carry out.Total investments in clean energy in developing countries were less than $150 billion in 2020, according to a June 2021 International Energy Agency report, which warned that, by the end of the decade, such financing needed to be more than $1 trillion per year to put the world on track to reach net-zero emissions by 2050.Ms. Ogunbiyi said that as Sustainable Energy for All and other organizations work with the 10 countries to create energy transition plans or update existing ones, they would encourage the countries’ leaders to sign “no new coal” pledges.The idea behind the type of …

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