“Over a decade ago, Tom Steyer sold his interest in Farallon and divested his investments in Farallon funds from all fossil fuel-related businesses. Any suggestion that he has had exposure to the fossil fuel industry through his investments with Farallon since that time is categorically false.” – Farallon Capital spokesperson
THE FACTS
Steyer walked away from Farallon nearly 15 years ago to devote himself to climate advocacy. Tom founded a hedge fund that made thousands of investments, and left it behind to focus on progressive causes.
Steyer does not hold any fossil fuel investments. While he retains some investments in Farallon, his investments are screened to ensure there are no fossil-fuel-related holdings in his portfolio.
Since 2013, Steyer has spent $485 million on climate related advocacy and electoral spending to groups such as NextGen America and the League of Conservation Voters.
Steyer is the only candidate with a platform focused on making polluters pay. His affordability plan prioritizes climate protection by making rooftop solar and EVs more affordable while ensuring oil companies pay their fair share.
Steyer co-founded Galvanize Climate Solutions in 2021, a multi-billion-dollar investment firm dedicated to financing clean energy transition and pulling other investors off the sidelines into the fight against climate change.
While Steyer walked away from Farallon 15 years ago, Xavier Becerra just took a max-out check from Chevron for his governor’s race this Fall.
Steyer has earned the endorsement of leading environmental groups across California, including Climate Action California, California Environmental Voters, The Jane Fonda Climate PAC, Th!rd Act, and the Center for Biological Diversity Action Fund, which gave Steyer an “A+” grade for making polluters pay on its environmental scorecard — while Xavier Becerra, who has accepted a maximum contribution from Chevron this cycle, was given a “D”.
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