The Canadian Press - ONLINE EDITION

Billionaire investor creates fund to help victims of climate change

  • Print

FRESNO, Calif. - An environmentalist billionaire who has pledged to spend tens of millions of dollars targeting Republicans who reject climate change announced Friday that he is now creating a fund to help victims of extreme weather disasters, starting with wildfires in the American West.

Tom Steyer and his wife, Kat Taylor, launched the Climate Disaster Relief Fund that will draw on the couple's personal profits from investments in Kinder Morgan, one of the largest energy companies in North America.

Climate change leads to warming temperatures, drought and insect outbreaks, which exacerbate costly wildfires, Steyer said in a statement.

"Climate change is the defining issue of our generation," he said. "We can no longer afford to wait to address this very real threat."

A retired hedge fund manager and longtime Democratic donor, Steyer has pledged to spend up to $100 million this year in political campaigns nationwide to shape climate policy — half his money and the rest raised from likeminded donors. The money will be used to back Democrats and attack Republicans running for Senate in New Hampshire, Iowa, Colorado and Michigan, and for governor in Pennsylvania, Florida and Maine.

Steyer's group, NextGen Climate, did not immediately respond to requests for comment, but the San Francisco Chronicle reported that the disaster fund will start with up to $2 million. The statement did not elaborate on the funding.

Steyer cited studies that predict climate change could double the threat of wildfires in the southern Rockies and increase that threat by 74 per cent in California.

Firefighters and nurses on the front lines of these disasters will be among the first to receive money from Steyer's fund to be managed by the San Francisco Foundation. The fund will also provide relief to victims of oil spills, droughts, floods and other disasters related to extreme weather or climate change, Steyer said.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Keri Latimer looks for beauty in the dark and the spaces between the notes

View more like this

Photo Store Gallery

  • A monarch butterfly looks for nectar in Mexican sunflowers at Winnipeg's Assiniboine Park Monday afternoon-Monarch butterflys start their annual migration usually in late August with the first sign of frost- Standup photo– August 22, 2011   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • Winnipeg’s best friend the dragon fly takes a break at English Gardens in Assiniboine Park Wednesday- A dragon fly can eat  food equal to its own weight in 30 minutes-Standup photo- June 13, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)

View More Gallery Photos

Poll

Will higher pork prices change your grocery-shopping habits?

View Results

View Related Story

Ads by Google