Democratic presidential candidate Tom Steyer endorsed reparations for slavery and asserted he is the only candidate to do so.

While speaking with CNN political analyst April Ryan on his message to black voters, Steyer said he believes there is an "undercurrent of race in virtually every policy area." Steyer, 62, says tackling climate change, an area of focus for him, is critical to helping underprivileged communities.

"My climate policy is called a justice-based climate policy," he said.

Steyer said his policies are geared toward helping the black community and the Latino community, which he claims "can't breath" or "ask for a drink of water" without getting sick.

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The corporate billionaire and climate activist is currently hovering around 3% support in the Iowa caucuses, according to RealClearPolitics data. He, along with Democratic Minnesota Sen. Amy Klobuchar, 59, and former South Bend, Indiana, Mayor Pete Buttigieg, 38, will be canvassing voters for several days.

Steyer is embarking on a "Beat Trump" bus tour until the caucuses on Feb. 3. The campaign hopes to rally voters and increase his standing in the polls while other candidates, such as Vermont Sen. Bernie Sanders, 78, remain in Washington, D.C., for the impeachment trial of President Trump.

[Read more: Democratic 2020 candidate Tom Steyer accuses Trump of torturing children]