Former Mayor Michael Bloomberg is donating half a billion dollars to a new environmental campaign to close all of the coal plants in the US by 2030, he announced Thursday.

Bloomberg, who is estimated to be worth $54 billion, is making the donation to the campaign called “Beyond Carbon” in an effort to bypass the federal government and make the change at the state and local level, Bloomberg said.

Paul Morigi/Getty Images for Bloomberg Philanthropies

With his backing, the campaign is the largest ever philanthropic action to fight climate change, Bloomberg said.

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