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Capital Allocators #300 · March 6, 2023 · 60m

Tom Steyer - Investing to Save Humanity

Tom Steyer — founder of Farallon Capital, climate activist, and former presidential candidate — discusses the intersection of investing and impact. How he went from pure profit maximization to believing that climate investing is both the moral imperative and the best risk-adjusted opportunity.

Canon

Steyer describes his transition from managing one of the most successful hedge funds in history to devoting his wealth and time to climate action. The shift was driven by a sense of responsibility, not guilt.

Highlights

Climate investing is the greatest risk-adjusted opportunity of our generation
Steyer argues that climate technology investing offers asymmetric returns: the downside is limited (these companies solve real problems even without climate urgency), while the upside is enormous (the energy transition is a multi-trillion-dollar market transformation).