The charitable organization founded by former New York City mayor Michael Bloomberg will spend $200 million to help leaders of 25 U.S. cities tap into federal funding opportunities to cut their emissions.
Why it matters: The funding from Bloomberg Philanthropies could allow these cities to grow their building and transportation networks in ways that limit greenhouse gas emissions.
The big picture: The initiative, announced first to Axios, will be known as Bloomberg American Sustainable Cities. It gives mayors access to both funding and expertise to tap into federal funding for emissions reductions.
Read more at Axios.