Tom Steyer is an investor, philanthropist and advanced energy advocate. He is founder and president of NextGen Climate, an organization that acts politically to avert climate disaster and preserve American prosperity.

When I learned that the New York Times was planning to report on my time as an investor at Farallon Capital Management, I wanted to sit down with the reporter while I was in New York City to discuss the issue in person—and on the record. After all, it was important to me that they have the facts about investments made under my leadership, my subsequent decision to step down from the fund and why I have sought to engage politically on the issue of climate change. The timing didn’t work out for the reporter, and the New York Times subsequently declined my request to run this op-ed in my own words.

The article that ran, which detailed fossil-fuel investments that my former firm made when I was leading it, suggested that those investments were inconsistent with my current advocacy for more progressive energy policies. As I offered to say then, I will say now: I left the firm and committed myself to addressing global climate change because—based on the scientific evidence—I could not reconcile my personal values with managing a fund that by mandate is invested in all sectors of the global economy, including fossil fuels.


Tom Steyer at Global Green USA's Millennium Awards in Santa Monica, CA, last year. | Charley Gallay/Getty Images

Farallon, as defined by both the returns generated for its investors and its professionalism, is a high performing investment organization, but its personnel were never focused on climate impacts. And it’s true—Farallon did make fossil fuel investments under my watch. But the more I learned about the energy and climate problems we currently face, the more I realized I had to change my life. I concluded that the best way to align my work with my beliefs was to make a real change—leaving my role managing a firm with investments across the industrial spectrum, and instead joining in the global effort to find a solution to climate change once and for all.

Let me be clear—climate change is bigger than any one person. I believe it is truly the most pressing issue we face, and one that if not addressed will have profound consequences for our kids. As a very senior and very conservative investor friend told me, “You never put the entire enterprise at risk. That’s bad business.” And yet, that’s what our society appears to be doing.

We cannot continue to ignore the risk. Together, we must look at the evidence and make different and better decisions. And that starts with individuals considering their own actions—and taking personal responsibility and changing their actions.

As the Times story said, I left my job at Farallon 18 months ago and have since divested my fossil-fuel holdings. To prevent any possible conflict of interest, I no longer own any stake in Farallon or have any influence over its actions. However, I do personally hope that firms like Farallon begin to consider the impact of climate change on their investments. To that end, I have publicly and privately advocated that the risk posed by climate change become a factor that funds take into account.

The past is the past, and I am working as hard as I can to change our collective future.

Now, those who were involved in supporting those industries that damage our climate must also play a correspondingly bigger role in the solution. That includes me: My wife and I pledged years ago to give away at least half of our net worth, and since my departure, I have founded or co-founded several climate-related organizations.

I’m working hard to try to move our economy to a more sustainable path, one that need not depend overwhelmingly on fossil fuels for its success. This path requires that we have the right policies in place. And, given that we live in a democracy, achieving these policy solutions requires playing in the political arena—a practice that I recognize is a full contact sport.

Having a voice in politics means my past is fair game. I understand that, and I appreciate the role of the press in our democracy. And this is why I’ve been transparent about both my past and about the political goals I’m hoping to achieve this November. The same cannot be said for those who are promoting the political agenda of the fossil-fuel industry.

But, as I said, this fight isn’t really about me. It’s about Americans coming together to decide how we can tackle climate change head-on, whether at the polls or in our day-to-day lives.

Many Americans have been working on these issues for decades, while others have more recently converted as they too became aware of the science—changing in ways both big (the car they choose to drive) and small (turning off the lights).

The answer to addressing climate change lies with all of us. It relies on our continued ability to work together and do what Americans do best: innovate and create.

This means working together to create new technology, to find ways to reduce the amount of carbon we use and to move our country forward with smart policies and committed leadership.

I, for one, believe the only way we will address climate change and save our kids is if Americans come together to make a change. And for those of us whose past work may have contributed to the build-up of this climate crisis, it means choosing to incorporate new thinking into our lives and become part of the solution.