Billionaire and liberal activist Tom Steyer's green investment firm Galvanize Climate Solutions announced on Sunday that President Joe Biden's former climate czar John Kerry has stopped working even as the government continues to hand out billions of dollars in green subsidies. Join the company. [emphasis, links added]
Kerry, who resigned as the White House's U.S. climate envoy in January, will become co-executive chairman of Galvanize, which manages a fund of more than $1 billion and specializes in “creating long-term value from energy.” The manuscript is called.
While Kerry served as the White House's top climate diplomat, Biden's Inflation Reduction Act (IRA) allocated $370 billion to combat climate change, Enriching many clean energy executives and wealthy Americans, and potentially supporting some of Galvanize's investments through government subsidies.
“Secretary Kerry is a bridge builder who calls people in, not calls them out,” Tom Steyer wrote in the announcement. “[Kerry] earning him a reputation as the world's leading climate politician. This unparalleled knowledge, credibility and convening power will help Galvanize expand the company's global reach, expand solutions across asset classes and generate impressive returns.
Kerry is not the first former Democratic presidential candidate to enter climate investing after leaving politics; In 2004, he co-founded Generation Investment Management, an environmental, social and governance (ESG)-focused investment management company with Al Gore.
Thanks largely to his books on climate change and his clean energy investments, Gower's net worth rose from $1.7 million in 1999, about a year before he lost the presidential election to George W. Bush, to about $200 million in 2013. According to the Financial Post.
Steyer ran for president in 2020 and invested about $200 million of his own money in the 2019 campaign.
Despite spending nearly $24 million on television ads in South Carolina, the billionaire businessman ultimately abandoned his campaign after finishing third in the South Carolina primary.
Steyer also spent more than $160 million trying to influence the 2014 and 2016 elections, making him the largest single donor during the cycle, and spent about $20 million on ads calling for the impeachment of former President Donald Trump.
Federal Aviation Administration records show that in 2021 Kerry's family owned a private jet while he served as U.S. climate envoy.
Read the break from The Daily Caller
