A significant philanthropic gift by New York City Mayor Michael Bloomgerg to assist in the phasing out of coal burning energy generation plants in the USA and in their stead , use clean energy sources. Private capital supporting Public good. This is a measureable social benefit to the environment .
“Coal, he said, may appear to be a source of cheap electricity but “the real price tag is hidden” in medical costs. Coal pollution, he said, causes $100 billion in annual health costs.It’s also responsible for mining deaths and water pollution caused by mountaintop mining.“This is about the air we breathe, the water we drink, our health, today,” Bloomberg said.Still, while climate wasn’t on his mind today, his Bloomberg Philanthropies has become a leading backer of the C40 Cities Climate Leadership Group C40, which attempts to drive action to curb global warming at the local level. In New York, meanwhile, he has promoted a range of environmental initiatives in New York City, ranging from bike lanes to solar power at city landfills to his failed effort to impose a congestion tax on private cars entering Manhattan.”