On March 7, best-selling author, former presidential candidate, and climate investor Tom Steyer discussed the importance of climate financing to support the country’s energy transition at the opening discussion of the 2025 Future of Sustainable Investing Conference (FSIcon). Organized by Brown students and cosponsored by the Institute at Brown for Environment and Society, the talk was moderated by FSIcon co-president Phoebe Moustaka, a senior studying economics and international and public affairs.

The market’s role in the fight against climate change

Steyer underscored the power of the market economy and green technology in advancing the energy transition.

As the cost of renewables and EVs continues to drop, the sector grows more attractive to consumers and investors alike, he explained. While some are still concerned about the dependability of renewable energy, technological progress has been tackling the challenge with cheaper and more durable batteries. For Steyer, investors and governments must recognize the profit potential of the energy transition. 

“I see the chances of us having abundant, cheap, emission-free energy as being overwhelmingly high,” he said. 

Steyer made a similar argument in his book Cheaper, Faster, Better: How We’ll Win the Climate War. He believes capitalism can be mobilized in favor of climate progress and shows how market forces already see green technology as a new synonym for successful business. 

Breaking barriers with climate finance

That’s where climate financing comes in, Steyer explained. Companies like Galvanize Climate Solutions, an investment fund of which he is cofounder, can help lower the entrance barriers, such as high borrowing rates, for renewable and green projects. His approach, he noted, is both realistic and impact-driven, looking for businesses that are both profitable, scalable, and that address the future of energy needs. 

“What is going to work is: innovation, entrepreneurship, new ideas. That’s what we got, so it is just a question of, can we do it fast enough?” Steyer concluded before taking questions from the audience.  

Later that day, Steyer returned to the Watson Institute for a discussion with Professor of International Economics Mark Blyth, entitled: “Does green investment still have a place in Trump’s carbon economy?” Read a recap of this event in the Brown Daily Herald or watch the livestream recording.