Aims of Donor Are Shadowed by Past in Coal

Michael Barbaro and Coral Davenport
The New York Times
7/4/2014

…Tom Steyer, the most influential environmentalist in American politics, who has vowed to spend $100 million this year to defeat candidates who oppose policies to combat climate change.

Mr. Steyer, a billionaire former hedge fund manager, emerged this election season as the green-minded answer to Charles G. and David H. Koch, the patrons of conservative Republican politics, after vowing that he would sell off his investments in companies that generate fossil fuels like coal.

But an examination of those investments shows that even after his highly public divestment, the coal-related projects his firm bankrolled will generate tens of millions of tons of carbon pollution for years, if not decades, to come.

Over the past 15 years, Mr. Steyer’s fund, Farallon Capital Management, has pumped hundreds of millions of dollars into companies that operate coal mines and coal-fired power plants from Indonesia to China, records and interviews show…

Read the entire article at The New York Times.

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