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“In the case of fossil fuels, he doesn’t seem to recognize how quickly our ability to develop and deploy clean energy is growing — and how cheap that energy is becoming.”
If you’re looking for a relatively optimistic read on the fight against climate change, Tom Steyer’s new book is out today. Called Cheaper, Better Faster: How We’ll Win the Climate War, it dives into the billionaire’s perspective on the state of the climate crisis and the clean energy solutions helping the world decarbonize. Steyer’s perspective is informed by the many hats he wears — investor, philanthropist, long shot 2020 presidential candidate, Yale man, and co-founder of the investment firm Galvanize Climate Solutions.
I chatted with Steyer a few weeks ago about his book, his guiding investment principles, and how and why people become environmentalists. Here are three things I found noteworthy:
1. Steyer thinks Warren Buffett is making a bad bet.
While Steyer admits that “no one’s ever gotten rich betting against Warren Buffett,” he believes the billionaire investor has got it wrong when it comes to oil and gas investments. Buffett’s firm, Berkshire Hathaway, has a 28% stake in Occidental Petroleum and a nearly 7% stake in Chevron.
“Of the 8 billion people alive today, it’s possible that no one is better than Warren at predicting the future of commercial activity,” Steyer writes in his book. “But in the case of fossil fuels, he doesn’t seem to recognize how quickly our ability to develop and deploy clean energy is growing — and how cheap that energy is becoming.”
“He has generally been a very high minded, good guy,” Steyer told me. “[But] I look at these investments, and I don’t understand how those reserves can get developed without pushing us to a place from a climate standpoint that is unsupportable ... Every scenario like that puts us in a climate bind.”
Steyer ultimately likens investing in fossil fuels to betting on whale oil, a fuel that powered lamps in the 18th and 19th centuries. “We should not be rooting to keep the whale blubber business going and spending a lot of American tax dollars to support whale blubber. Because it turns out, that’s not the future. It’s really important for America that we be at the forefront of economic change.”
2. Galvanize Climate Solutions is more than a VC firm.
Steyer co-founded the climate investment firm Galvanize in 2021 with fellow investor Katie Hall. Last September, the firm announced that it had raised over $1 billion for its first fund, which targets investments in early to growth stage climate companies “that can drive meaningful decarbonization over the next decade,” according to Saloni Multani, co-head of the fund.
What helps set the firm apart is its variety of funding strategies. It not only makes venture capital investments in early stage companies, but growth equity investments to help companies reach scale, public equity investments (that is, purchasing stock) in publicly traded corporations, and even real estate investments. Last month Galvanize purchased its first building, an industrial facility in the Baltimore-Washington corridor that the firm aims to decarbonize via rooftop solar, mechanical upgrades, and other energy efficiency measures. The firm also plans to invest in and decarbonize apartment buildings, student housing, and storage facilities.
“We want to buy buildings and make them net zero and prove you can make more money doing it. We want to be in the early stage companies that are leading the tech revolutions. We want to actually be a partner in the public domain, owning stock and partnering with the corporate leaders, the CEO, the C suite,” Steyer told me. “So it’s an actual activist strategy, but as partners to the organizations that are trying to lead the revolution, not as opponents.”
3. The path to sustainability runs through economic self interest.
When I asked Steyer to what degree he’s been able to mobilize his friends and fellow billionaires to get onboard with the climate cause, he didn’t exactly say it’s been a rousing success. Instead, he emphasized that people end up making sustainable choices for a variety of reasons – and that it often starts with economic practicalities rather than climate consciousness.
“A lot of people think that you are an environmentalist, and then you put solar on your roof. But actually, I think you put solar on your roof, and then you become an environmentalist,” Steyer said. “I think getting in the game actually changes people’s attitudes.”
This ladders up to statewide politics around renewables as well, he said. “So if you think about a state where the elected officials have been very outspoken against renewables and climate response, it would be Texas. But if you look at Texas, they’ve tripled the amount of solar they have over the last three years. It’s expected to go up 35% more this year. They’re by far the biggest wind generator in the country. They’re not being nice. It’s a good deal.”
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Heatmap Pro is an insights platform providing actionable intelligence to renewable energy developers, helping them stay informed about community sentiments and regulatory trends. We are seeking a strategic and entrepreneurial VP of Sales to lead our efforts in scaling the business, expanding our revenue base and shaping our go-to-market strategy. Heatmap Pro is a fast growing division of Heatmap News, a successful media and data company covering climate change, clean energy and sustainability for a large, professional audience.
Key Responsibilities
Client Acquisition & Revenue Growth
• Build and manage a pipeline of high-value opportunities within the renewable energy sector
• Support business development strategy for expansion in new market segments
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Strategic Leadership
• Work closely with leadership to shape Heatmap Pro’s growth strategy and identify new market opportunities.
• Provide insights on industry trends and client feedback to guide product development and market positioning.
• Represent Heatmap Pro at industry events and conferences to build brand awareness and establish partnerships.
Sales Structure & Process Development
• Design and implement scalable sales processes, including CRM management, lead qualification, and deal tracking.
• Shorten the sales cycle and improve conversion rates through effective process improvements.
Qualifications
Required Experience
• Deep understanding of the renewable energy industry or adjacent sectors with extensive contacts to match
• 5+ years of experience in enterprise sales, with a proven track record of meeting or exceeding revenue targets.
• A proven track record of managing a high-performing sales team
Skills & Competencies
• Strong strategic thinking and ability to influence company direction.
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Bonus Qualifications
• Knowledge of siting and community engagement for the renewable energy sector.
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Above all, candidates should be passionate about Heatmap's mission and excited about working with a talented team of journalists and business executives dedicated to advancing the energy transition.
The salary minimum is $120,000 and the maximum is $135,000 plus a good commission plan based on revenue performance. Competitive benefits, unlimited paid time off, and a generous equity plan, which gives employees a real stake in the company, are also offered. This position is remote. While candidates from all over the U.S. are encouraged to apply, the VP of Sales is expected to keep East Coast hours.
Interested candidates should send a brief cover letter and resume to business@heatmap.news.
Heatmap News is an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by applicable law.
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On Biden’s big announcement, Montana’s climate case, and the murder hornet
Current conditions: Temperatures across western states are between 10 and 20 degrees Fahrenheit above seasonal averages • A temple in Thailand collapsed after unrelenting heavy rain • It’s hot and humid on the remote Caribbean island of Sombrero, where a lizard that was facing extinction six years ago has made a remarkable comeback thanks to conservation efforts.
In one of his last major environmental moves before leaving office, President Biden today announced a new climate plan for the United States that includes tougher emissions targets.
All countries under the Paris Agreement are required to submit updated climate plans – or nationally determined contributions (NDC) – by February of next year. While the new goal is an improvement, it is “at the lower bound of what the science demands and yet it is close to the upper bound of what is realistic if nearly every available policy lever were pulled,” said Debbie Weyle, U.S. acting director of the World Resources Institute. “Assertive action by states and cities will be essential to achieving this goal.” The Climate Action Tracker project calculates that the U.S. must cut total emissions by at least 62% below 2005 levels by 2030 to be compatible with a goal of limiting warming to 1.5 degrees Celsius. President-elect Trump is expected to take the U.S. out of the Paris Agreement once again.
The Montana Supreme Court yesterday handed a win to a group of 16 youth climate activists, upholding a lower court’s ruling in the landmark Held V. Montana case that the state was violating residents’ constitutional right to a clean environment by permitting fossil fuel projects without considering the climate consequences. The state had argued that its greenhouse gases were a drop in the bucket compared to global emissions, with negligible effects on the climate, but in a 6-1 ruling, the justices disagreed and affirmed the lower court’s decision. “Montana’s right to a clean and healthful environment and environmental life support system includes a stable climate system,” chief justice Mike McGrath wrote.
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The Environmental Protection Agency this week gave the green light for California to enforce its ban on sales of new gas-powered cars by 2035. About a dozen other states, plus some major automakers, adhere to California’s strict vehicle emission standards, so the decision could have broad implications. But it also is likely to be revoked by the incoming Trump administration, and a long court battle could ensue.
A new report from a group of leading climate tech and microgrid development firms examined the feasibility of using off-grid solar and storage to provide clean power for AI data centers. It found solar microgrids would cost nearly the same as using off-grid natural gas turbines, could be built on a shorter timeline as opposed to rolling out new grid connections, and are “enormously scalable.” “We found that there is enough available land in the southwest U.S. alone that is close to roads and gas pipelines to build 1,200 gigawatts of offgrid solar microgrid data center capacity, far more than will be needed for the foreseeable future,” said Zeke Hausfather, lead climate researcher at Stripe. Here’s a look at the varying “time to operation” estimates from the report:
And speaking of data centers, Oklo, a nuclear startup chaired by Open AI’s Sam Altman, has secured a 20-year agreement to supply power to data center operator Switch Inc. Under the deal, Oklo will build small modular reactors that can supply up to 12 gigawatts of electricity and come online by 2030. Caveat: The Financial Timesnoted that the deal “is non-binding and the company’s technology is years from production.”
President-elect Trump’s advisers are telling him to let federally funded critical minerals projects go ahead without environmental reviews, Reutersreported. Nixing the review process currently required under the National Environmental Policy Act (NEPA) could speed up mining projects and help cut U.S. dependence on China for critical minerals used in clean tech like electric vehicles, but it could also allow developers to ignore climate change and environmental justice considerations.
The invasive “murder hornet” has been eradicated from the U.S.
Karen Ducey/Getty Images
In 2025, it’s time for stern resolve and bold maneuvers.
This year has reshaped the political landscape of climate action in ways few could have predicted. From the European Parliament to the US presidency, elections have upended the alliances and leadership structures that have traditionally driven climate progress. A world that as recently as 12 months ago thought it could rely on Europe as the steady hand of global leadership now finds the continent politically fracturing. Across the Atlantic, the United States is once again charting an unpredictable course, although one that will certainly take it further from sensible climate policy, while China continues to lead through industrial dominance rather than diplomatic consensus. It is, to put it mildly, a less-than-ideal setting for tackling the most pressing issue of our time.
Europe’s political shifts may be the most concerning. On the surface it appears the continent’s commitment to climate has held, but underneath tensions are boiling. Once a bastion of ambitious climate policy, the European Union is now grappling with internal instability that risks derailing its leadership.
The EU Commission president’s centrist party remains in power after parliamentary elections, despite rising pressure from the far right and with its commitment to the Green Deal agenda intact. However populist forces — recently represented by farmer backlash to environmental policy — leaves them focused on defending Europe’s existing commitments, rather than driving its next iteration.
In the member states things look more challenging. Italy’s ruling government is openly challenging Europe’s commitment to electric vehicles. In France the spectre of a broad anti climate agenda headlined by once unthinkable notions like a power sector “Frexit” pushed by the country’s right wing was held at bay after parliamentary elections this summer that avoided a far right shift. But a recent no confidence vote on the coalition government’s short-lived prime minister Michel Barnier means that an anti climate agenda from one of the largest and most influential member states is a very real possibility.
And in Germany, the industrial heart of the European Union and its most influential member state, a populist backlash fueled by a stagnating economy included anger over heat pump mandates and has forced the ruling coalition to dissolve and bring elections forward to February. Most observers now believe it’s not a question of whether far-right climate-denying parties will increase in influence, but by how much.
These developments signal that Europe is at a crossroads, and while it may still have a seat on the climate train, it is no longer guaranteed to be in the conductor’s seat.
As Europe falters, attention inevitably shifts to China. The country’s transformation into a clean energy superpower is undeniable — it already dominates solar and battery manufacturing, and has now turned its focus to electric vehicles. Yet China is unlikely to fill Europe’s diplomatic void. Its approach to climate leadership is less about setting global standards and more about demonstrating what’s possible. This isn’t a case of "do as I say" but rather "do as I do.” While this may lead to trade wars and industrial rivalries, it could also send a powerful signal to the rest of the world: Clean energy isn’t just the future — it’s worth fighting for.
Ultimately, the geopolitical shifts of 2024 are a wake-up call for the climate community. What appeared to be lasting policy breakthroughs decades in the making now feel more tenuous. Populist backlash opens hard questions about how climate action can find a broader, more durable base of support. More existentially, the community is left wondering how we build those conditions on a vanishingly short time frame amidst the uncertainty political changes are unleashing.
What is clear is that the playbook that worked in the past will not suffice in this fractured, volatile world. Climate policy simply must become more resilient to political swings by broadening its base of support across the political spectrum in Europe and beyond. That not only makes policy more durable, it also isolates climate denial to the political fringe, and focuses debates on how — not if — we take action.
There is reason to hope such steps are possible. Recent U.S. examples, such as the 18 members of Congress who called for preserving certain investment provisions in the Inflation Reduction Act, demonstrate that climate action can find firmer ground even in a hostile environment. That support was driven by economic opportunity that can defy the gravity of political polarization. There are now millions of people across the political spectrum who own a piece of the clean energy transition, be it a solar home system, an electric vehicle, or a job in a clean energy company. Organize that constituency across party lines, and the politics will follow.
At the same time, the clean energy industry must step up. For all its economic success, it remains politically underpowered. Researchers Robert Brulle and Christian Downie found that from 2008 to 2018, trade associations opposed to climate action outspent climate-positive industry groups by a ratio of 27 to 1. This is neither serious nor sustainable. If clean energy is to cement its place as the backbone of the global economy, it must take greater responsibility for its political future. Industries that shape policy don’t wait for others to speak on their behalf — they do it themselves.
And then there’s the culture. As much as policy matters, culture shapes what policies are possible. To win back the narrative, the climate movement must move beyond technical white papers and elite op-eds focused on rational persuasion to cultural elites. Instead, it needs to create stories that resonate deeply with people’s values and aspirations. Whether that’s through TikTok videos, podcasts, or new forms of media, the goal must be to inspire and connect, not just to educate.
Regardless of the strategic pivots we make, the hard truth is that climate politics may get worse before they get better. Feedback loops — both environmental and political — can drive crises in unexpected ways. Populist backlashes and extreme weather could force governments to retreat into short-termism with key elections looming, making it more difficult to focus on the long view. Or they could combine to give the climate conversation a political salience it has never before had to exploit.
The climate movement has faced existential challenges before and emerged stronger. But no outcome is inevitable, making the strategic choices before us now truly pivotal when the stakes couldn’t be higher. Now is the time to make some bold ones, because our future depends on it.