Tom Steyer, the former San Francisco hedge-fund manager and founder of Farallon Capital, has emerged as a formidable force in climate finance, leveraging his financial acumen to accelerate the clean energy transition. His pivot, catalyzed by witnessing the dramatic retreat of Alaskan glaciers in 2006, marked a profound shift from a career deeply intertwined with fossil fuel investments to becoming a leading advocate for sustainable solutions.

Following his realization of climate change's rapid progression, Steyer began actively lobbying politicians and established a family foundation to support alternative systems, including organic agriculture. A significant philanthropic endeavor was the endowment of the TomKat Center for Sustainable Energy at Stanford University, a hub for entrepreneurial innovation in areas such as hydrogen-fuel systems for heavy trucks, advanced lithium batteries, and novel bio-based fertilizers.

In 2012, Steyer stepped down from Farallon Capital to dedicate himself fully to climate advocacy. He founded NextGen America, a political action committee focused on youth voter mobilization, and became a major donor to the Democratic party, notably influencing the decision to veto the northern section of the Keystone oil-sands pipeline. His disillusionment with political inertia led him to a brief presidential campaign in 2020, where he advocated for a green new deal through executive action.

Despite his political foray, Steyer returned to his financial roots, founding Galvanize Climate Solutions. This firm, which has successfully raised over US$1 billion, is strategically positioned to deploy capital into new climate technologies, aiming to accelerate their market adoption and scale. This initiative represents a direct application of financial power to drive environmental impact, moving beyond traditional advocacy to direct investment in solutions.

Steyer continues to champion the economic advantages of the energy transition. In his recent book, "Cheaper, Faster, Better," he reframes the climate crisis as a profound economic opportunity. He argues that renewable energy is now more cost-effective than fossil fuels, asserting that climate solutions offer not just environmental salvation but also tangible benefits like cleaner air, lower energy costs, and improved products across society. His current focus is on demonstrating that the transition to net-zero is an economic imperative and a winnable fight.