Former New York mayor and billionaire Michael Bloomberg on Sunday said he will contribute funds to make up for the United States’ financial commitment to the Paris Climate Agreement that Washington had withdrawn from. The “climate finance contribution”, $4.5 million, will help poorer nations reach their goals of reducing greenhouse gas emissions, BBC reported.

In December 2015, 195 countries had together signed the Paris accord, which seeks to prevent global temperatures from rising below 2 degrees Celsius, to prevent extreme events like higher sea levels, changes in weather patterns, food and water crises and other adverse effects. Former US President Barack Obama had initiated and signed the deal.

In 2017, United States President Donald Trump had pulled out from the pact saying that it would have been “a disaster for our country”. The president claimed that countries like China and India, which were leading polluters, were getting away with a deal that was partial to them. His decision drew criticism from many world leaders.

In a statement on Sunday, Bloomberg said: “Our foundation will uphold our promise to cover any cuts to UN climate funding by the federal government.” The former mayor spearheads an initiative led by private and public sector leaders to ensure the United States remains a global leader in reducing emissions and delivers the country’s ambitious climate goals of the Paris Agreement.