Tag Archives: Tom Steyer

Tom Steyer Plans on Spending Big on Climate Change Advocacy

Former Hedge Fund Manager turned climate activist looks to make climate change big 2016 issue

by Brian Leubitz

Tom Steyer is no stranger to opening up his pocket book for causes in which he believes. He pretty much funded the Yes on Prop 39 by himself, contributing over $30m to the measure. He’s now looking to spread his message to a wider audience, hoping to put the issue of climate change back on the radar.

California billionaire Tom Steyer turned heads in Washington with the news that he plans to spend $100 million to help make climate change a defining issue in this year’s elections.

But it gets even bigger: The hedge fund executive turned green activist might be willing to lay out even more than that eye-popping number, and he’s looking to spend it in places that are also important for 2016.(Politico)

His NextGen Climate Action SuperPAC is looking at going into a slew of important Senate and gubernatorial races, especially races that feature a climate change “denier.”

Some are calling Steyer a sort of anti-Koch, but it is easy to overestimate the operation as well as misstating motives. First, Steyer does not have anywhere near the operation that the Kochs have. The Kochs have been building infrastructure for years, and have fostered a broad network of self-interested donors. Steyer has none of that infrastructure, but also none of the aversion to the media. He’s friendly and media savvy, eager to explain why he focuses his time on climate change. Oh, and he seems not to have the duties to legacy environmental organizations and their donors that can occasionally unsettle coalitions.

Whether Steyer has plans, as rumored, of a race for Governor here in 2018 is still an open question. But he’s certainly going to make a name for himself in the next two years if he does spend that $100 million.

DC NBC Affilliate Rejects Ad from Tom Steyer’s NextGen Climate Action

Ad parodied TransCanada CEO

by Brian Leubitz

With President Obama’s time running out for a decision on the Keystone XL pipeline, Tom Steyer’s NextGen Climate Action group wanted to put some pressure on by advertising on the Tonight Show during the Presidential appearance. However, just before the show (and the ad) were to air, the DC NBC affiliate let the group know that they were not going to air the ad:

NBC has rejected an ad opposing the Keystone XL pipeline, despite running ads in favor of its construction. The climate group NextGen Climate Action says it was notified at the last minute Tuesday night that a Washington, D.C. NBC station rejected its ad, submitted for President Obama’s appearance on the Tonight Show. …

“After a careful review, it was determined that this ad violates our guidelines. We have communicated that to the advertiser,” a WRC spokesperson said.

According to NBC’s advertising guidelines, anything that appears to be “an attack of a personal nature, a direct attack on an individual business or a comment on a private dispute” can be considered unacceptable content.  Meanwhile, NBC has aired its share of pro-Keystone XL ads. Just this Sunday, a TransCanada-sponsored ad ran during Meet The Press that claimed tar sands oil is “cleaner” and would have “little impact” on climate change. (ThinkProgress)

Of course, TransCanada is claiming that the statements were all lies, but the facts remain to back up the claims. Any American jobs from KXL will be short-lived temporary gains, but the big winners will be the oil companies who will be able to feed the growing Chinese appetite for fossil fuels. Given that the shale oil set to be pumped down from Canada is dirtier, the additional hit to the climate would be staggering.

In the end, neither the science nor the economics of the KXL project are in the best interests of the American people, and so the proponents of the project are working to silence critics at every turn. The decision is now in the President’s lap, and we need to pressure him. NextGen Climate Action Tom Steyer, who incidentally seems to have some of his own political ambition and certainly has his own interests in stopping KXL, have been been doing just that. Time is running out to kill this thing, so perhaps the NBC station did them a favor with the free publicity.

Arnold, Tom Friedman and Green Jobs…

I was down in Los Angeles last week and met with a long-time friend who’s from a strongly Republican family but who is deeply committed to keeping California beautiful and its environment protected.  

He was impressed that Meg Whitman had officially opposed Prop 23 and was convinced that, with that in hand, he could sway other business-oriented environmentalists in Southern California to come out against Prop. 23. Which he did – quite effectively – shortly after our meeting! We are creating great momentum from Meg’s decision to vote no on Prop. 23.

There have been two other big boosts to the No on Prop. 23 campaign – Arnold and Tom.

Last week, the Governor spoke out strongly against Prop 23. My wife and I got a chance to talk with him recently and see him speak at an event. He was strong and quite combative, going after the two Texas oil companies directly and forcefully.  At the start of his political career, it was hard to forget that Arnold is a global movie star. Now it’s hard to remember, until he starts talking. He still commands a crowd and a room.

But most importantly, the Governor nailed the message and spoke the truth. “They (the oils companies) are creating a shell argument that they are doing this to protect jobs,” the governor said. “Does anybody really believe they are doing this out of the goodness of their black oil hearts – spending millions and millions of dollars to save jobs?”

Tom Friedman, the New York Times Columnist, picked up the story this week as well. He put the argument pretty simply, “Just remember: A.B. 32, good; Prop 23, bad.”

He also pointed out another great quote on jobs from the Governor, “Since when has [an] oil company ever been interested in jobs? Let’s be honest. If they really are interested in jobs, they would want to protect A.B. 32, because actually it’s green technology that is creating the most jobs right now in California, 10 times more than any other sector.”

This point can’t be made often enough. In 2009 alone, venture capitalists invested $2.1 billion into California’s “green” businesses. The green technology industry is the future economy of California. They are the jobs for which our children and grandchildren will be competing. In Washington, action on national climate change legislation may be stalled but we can and should still lead the way here in California. It’s good for our environment, good for our economy and good for our future.

As always, it was fun to be in L.A. and great to see the Governor and his wife.  Even with all their success and celebrity, they seemed like a very nice – and amazingly accomplished – couple.  

And it was great to get to talk with the Governor and understand how he came to care so deeply about the environment. He definitely wants to work against Prop 23 until Election Day and then keep going nationally.  I know that the implementation of AB 32 over the next 10 years will be critical, so I don’t want to stop either.  Hopefully then, I’ll be seeing a lot more of the governor!

This is the forth installment of our regular father-daughter, intra-generational effort to share concerns and fears, as well as ideas and hopes about the future of California’s environment. – Tom

Tom Steyer is a successful asset manager, entrepreneur and environmentalist. He founded and is Co-Managing Partner of the San Francisco-based firm, Farallon Capital Management and is a partner at the private equity firm Hellman & Friedman. With his wife Kat Taylor, he created and funded OneCalifornia Bank, which provides loans and banking services to underserved small businesses, communities, and individuals in California. In 2008, Steyer and Taylor made a $40 million gift to Stanford University to create a new research center as part of the Precourt Institute for Energy, the TomKat Center for Sustainable Energy.

Steyer is also co-Chair, with former Secretary of State George Shultz, of the campaign to oppose Proposition 23 in California, an initiative that would undercut California’s commitment to clean energy.

HItting the phones in San Rafael

Although I had received an incredibly supportive welcome from campaign organizers at the San Francisco office, I was happy to move to the simpler tasks of the grassroots campaign, for which I felt much more qualified.

I have been working primarily out of an office in San Rafael, run by two members of Green Core who recently graduated college. I spend my time phone banking, meeting with volunteers and attending rallies in the surrounding area.

San Rafael, being sunny, beautiful, and inhabited by a fair few crunchy, eco-friendly people, is of course not a bad place to be working on an environmental campaign.

Having a fear of phones that makes me avoid calls even with my closest friends, I never thought of myself as a prime candidate for phone banking. Despite my hesitation, it has become one of my favorite activities. Most people don’t pick up, and many that do are clearly not in the mood to talk. The rare person though who seems truly enthusiastic makes up for all the disappointments, and I often find myself full of adrenaline after a successful phone banking session. There is also a camaraderie with the other phone bankers, as you chat together while phones ring.

Obviously phone banking is laborious and slow, but there is a feeling of accomplishment that I found lacking in other activities, a sense of reaching real, live voters (who can otherwise seem almost like mythical creatures, as you discuss them at length but never actually meet them).

I enjoy rallies tremendously, but from the outside of a campaign, I honestly thought they served more as moral boosters for the volunteers rather than influencing voters. My opinion was changed late one night, as I sat phone banking. After only the first few sentences of my “schpiel,” the man on the phone interrupted me, asking if this was the proposition he had seen all the people waving signs for the previous weekend. Having been at the rally he was referring to, I could tell him honestly that it was.

“That’s ok then,” he told me. “We’re voting no. We don’t support big oil. You can call someone else now.”

– Evi Steyer



Tom Steyer is co-Chair, with former Secretary of State George Shultz, of the campaign to oppose Proposition 23 in California, an initiative that would undercut California’s commitment to clean energy.

Evi Steyer is one of Tom and Kat’s four children. She graduated from San Francisco’s University High School in 2010 and is taking a year off to volunteer on the Prop 23 campaign and travel, before starting Yale in the fall of 2011.

They are writing a regular father-daughter, intra-generational blog to share concerns and fears, as well as ideas and hopes about the future of California’s environment.

Prop. 23 Is Debated – and the Millennial Generation Is Tuned In

This is the first installment of what we hope will become a regular father-daughter, intra-generational effort to share concerns and fears, as well as ideas and hopes about the future of California’s environment. – Tom

Tom Steyer:  

I was in Sacramento last week to debate Assembly Member and Prop. 23 author, Dan Logue. As part of my role as the No on Prop. 23 Co-Chair, I’m going to be publicly arguing the ‘no’ side of this measure as often as they’ll let me. I’ve been a passionate and practicing environmentalist for a long time now – and I put my money, and my time, where my mouth is.

And so I found myself in Sacramento.  

I had spent several days prepping and practicing, making sure I was on top of the information as well as Mr. Logue’s attitudes and beliefs. I’m pretty passionate about this stuff to start with – and after spending a few days really drilling down on just who’s behind Prop. 23 (billion-dollar Texas oil giants, Valero and Tesoro), what their motives are (make even more money) and what it would mean to our environment (don’t get me started), I was ready to do battle.

Turns out, Dan Logue’s a very nice gentleman from the Truckee area, a small businessman mostly concerned with the climate for small business. He clearly cared generally about the issue. But he repeatedly quoted a series of discredited analytical efforts including one from Sacramento State and another from Berkeley, the authors of which have expressly asked him to please stop misquoting their work. It seemed to me that those Texas oil companies are manipulating him as badly as the rest of us.

One of the interesting things about debating this issue in public was that I got an immediate sense of what resonates and what does not. It’s obvious that the fact this initiative is funded by Texas oil companies resonates with everyone. It’s obvious that polluters should not be able to write their own environmental laws, get them on the ballot, and get them passed. The other point that’s obvious is this is a confusing issue for most people. Even the numbers, AB 32 and Prop 23, are confusing. It was necessary to repeat frequently that the pro-environment vote is a NO on 23 vote.

I found it an emotional experience, much like playing a soccer or basketball game. But even more so because it’s so obviously not a game. I left the debate feeling pretty drained – but also even more focused. Valero and Tesoro are going to spend whatever’s necessary to undermine California’s environmental laws. And I’m going to do my damndest to stop them.

Evi Steyer:

The trip from San Francisco to Sacramento, across the bay, over the golden-brown hills, and through the fields of the Valley, put me in a very California frame of mind.  After mistakenly making my way to a local neighborhood (wine) press club and bar of the same name, I finally found my way to the Sacramento Press Club, where the debate was being hosted.  The street was lined with Yes on Prop 23 advocates and a man dressed as a chicken, a reference to Assemblyman Logue’s feint at backing out of the debate. Late due to my scenic tour of Sacramento, I hustled up the stairs and found a seat at the back of the high-ceilinged room. Two men who resembled Logue himself and seemed to be closely affiliated with him, a couple wearing matching Tea Party t-shirts, and several people wearing Yes on 23 stickers and holding signs, were seated next to me.

As an 18-year old who grew up in a house where conversations about sustainable energy were as common as the morning carpool, I’m proud of California’s environmental laws and think Prop. 23 is deceptive and really, really dangerous.

The facts prove global warming is real, so it was hard for me to react to Mr. Logue’s assertion that the matter remains inconclusive without a certain amount of skepticism. What struck me, more than the arguments presented and the studies cited, was the overall tone of the discussion. Both Mr. Logue and my Dad clearly care about California and its citizens. But Dan Logue most definitely stakes his position on what he believes to be in the best interest of California. The only problem with Mr. Logue’s position though, no matter how passionate he is and how deeply held his beliefs – he’s wrong on the facts.

I was proud of my Dad, not for his debating tactics but for the positive and hopeful stance he presented. The words “innovation” and “creativity” arose frequently in his arguments for AB 32 and against Prop 23. Listening to the debate, I felt fully engaged and excited about the green revolution and the role California will play. I felt hopeful.

Tom Steyer is a successful asset manager, entrepreneur and environmentalist. He founded and is Co-Managing Partner of the San Francisco-based firm, Farallon Capital Management and is a partner at the private equity firm Hellman & Friedman. With his wife Kat Taylor, he created and funded OneCalifornia Bank, which provides loans and banking services to underserved small businesses, communities, and individuals in California. In 2008, Steyer and Taylor made a $40 million gift to Stanford University to create a new research center as part of the Precourt Institute for Energy, the TomKat Center for Sustainable Energy.

Steyer is also co-Chair, with former Secretary of State George Shultz, of the campaign to oppose Proposition 23 in California, an initiative that would undercut California’s commitment to clean energy.

Evi Steyer is one of Tom and Kat’s four children. She graduated from San Francisco’s University High School in 2010 and is taking a year off to volunteer on the Prop 23 campaign and travel, before starting Yale in the fall of 2011.