1 00:00:00,080 --> 00:00:02,840 Speaker 1: Joining us now is Tom Steyer, a co founder of 2 00:00:02,840 --> 00:00:05,960 Speaker 1: Galvani's Climate Solutions. Tom, great to have you back. Thank 3 00:00:05,960 --> 00:00:08,039 Speaker 1: you so much for being with us. What are you 4 00:00:08,119 --> 00:00:12,000 Speaker 1: hoping to hear from Harris's campaign, given that we haven't 5 00:00:12,039 --> 00:00:14,840 Speaker 1: heard so much in terms of how she differs from 6 00:00:14,840 --> 00:00:15,600 Speaker 1: President Biden. 7 00:00:16,320 --> 00:00:18,880 Speaker 2: Well, what I'm expecting to hear Lisa, and hoping to 8 00:00:18,920 --> 00:00:22,520 Speaker 2: hear is that her agenda around the economy is going 9 00:00:22,560 --> 00:00:25,520 Speaker 2: to be about opportunity. Then in fact, she understands that 10 00:00:25,600 --> 00:00:28,160 Speaker 2: America is the land of opportunity and it gives every 11 00:00:28,200 --> 00:00:29,680 Speaker 2: of the chance to do the most, and that is 12 00:00:29,760 --> 00:00:34,280 Speaker 2: exactly what drives this economy, what makes our capitalism capitalistic 13 00:00:34,320 --> 00:00:37,200 Speaker 2: economy so strong. At the same time that I expect 14 00:00:37,200 --> 00:00:39,600 Speaker 2: her to continue most of the policies of the Biden 15 00:00:39,680 --> 00:00:40,560 Speaker 2: Harris administration. 16 00:00:41,040 --> 00:00:44,920 Speaker 3: So she will continue on this electrifying the grid. What 17 00:00:45,080 --> 00:00:47,440 Speaker 3: more do you expect if she were to win, that 18 00:00:47,479 --> 00:00:49,519 Speaker 3: they can add on to what Biden did. When it 19 00:00:49,520 --> 00:00:51,760 Speaker 3: comes to the Inflation Reduction Act. 20 00:00:51,960 --> 00:00:53,640 Speaker 2: Well, I think to a large extent, it is going 21 00:00:53,680 --> 00:00:56,600 Speaker 2: to be about implementing the Inflation Reduction Act, which is 22 00:00:56,640 --> 00:00:59,160 Speaker 2: really two things. It's not just about the grid, it's 23 00:00:59,200 --> 00:01:04,120 Speaker 2: about deploying the existing technologies when solar batteries, evs, but 24 00:01:04,160 --> 00:01:08,840 Speaker 2: it's also about innovating and creating the next generation of 25 00:01:09,040 --> 00:01:13,840 Speaker 2: energy related companies and technologies. So that second part is 26 00:01:13,880 --> 00:01:19,479 Speaker 2: absolutely critical. We're seeing deployment happen spurred by the IRA, 27 00:01:19,680 --> 00:01:22,640 Speaker 2: but very much driven by private money. What we need 28 00:01:22,680 --> 00:01:25,960 Speaker 2: to see is new companies solving some of the problems 29 00:01:26,000 --> 00:01:28,680 Speaker 2: around energy in ways that work for consumers and companies. 30 00:01:28,720 --> 00:01:31,039 Speaker 3: Well, when it comes to that competition and if you 31 00:01:31,040 --> 00:01:34,920 Speaker 3: think climate is existential, why not let the cheap Chinese 32 00:01:34,959 --> 00:01:39,760 Speaker 3: evs into the United States. 33 00:01:38,520 --> 00:01:43,040 Speaker 2: I'm square. Here's my answer for you. Look, I am 34 00:01:43,080 --> 00:01:46,360 Speaker 2: a huge believer in trade. I believe that the benefits, 35 00:01:46,560 --> 00:01:50,440 Speaker 2: the dispersed benefits to American consumers of trade are huge 36 00:01:50,480 --> 00:01:53,040 Speaker 2: and important, and we've all enjoyed them for a long time. 37 00:01:53,080 --> 00:01:56,120 Speaker 2: And it's theoretically true too. What is true is that 38 00:01:56,440 --> 00:01:59,760 Speaker 2: the Chinese economy is doing something strange. They are leading 39 00:01:59,760 --> 00:02:05,040 Speaker 2: them manufacturing of almost every clean energy product wind, turbine, 40 00:02:05,160 --> 00:02:09,079 Speaker 2: solar arrays, batteries, evs. But what's also true is they're 41 00:02:09,120 --> 00:02:12,480 Speaker 2: by far the biggest polluter in terms of carbon emissions, 42 00:02:12,919 --> 00:02:15,680 Speaker 2: and they're using their carbon emissions to try and drive 43 00:02:15,720 --> 00:02:20,639 Speaker 2: their economic program of leading this energy transition to pull 44 00:02:21,040 --> 00:02:24,400 Speaker 2: their very weak economy out of the ditch. So, in fact, 45 00:02:24,520 --> 00:02:27,239 Speaker 2: the idea that they should be charged for their emissions 46 00:02:27,480 --> 00:02:31,359 Speaker 2: that are about a third of global emissions makes very 47 00:02:31,360 --> 00:02:33,840 Speaker 2: good sense to me, and we're doing it in not 48 00:02:34,080 --> 00:02:36,240 Speaker 2: direct way, but it's actually a way that turns out 49 00:02:36,240 --> 00:02:36,920 Speaker 2: to be pretty fair. 50 00:02:37,120 --> 00:02:39,600 Speaker 3: The other big issue, not just national security when it 51 00:02:39,600 --> 00:02:42,120 Speaker 3: comes to China, but the other big political issue in 52 00:02:42,120 --> 00:02:44,280 Speaker 3: the election is who's going to win the union vote. 53 00:02:44,840 --> 00:02:47,480 Speaker 3: How does Kamal Harris strike that tone the fact that 54 00:02:47,520 --> 00:02:49,880 Speaker 3: they want to see more evs in the road. But 55 00:02:50,000 --> 00:02:52,880 Speaker 3: actually this unnerves a lot of rank and file of 56 00:02:52,919 --> 00:02:56,240 Speaker 3: those labor unions in places like Michigan, which is critical 57 00:02:56,720 --> 00:02:58,919 Speaker 3: to Democrats maintaining the White House. 58 00:02:59,400 --> 00:03:02,320 Speaker 2: Absolutely, But let's take a step back, if we could, Henry, 59 00:03:02,360 --> 00:03:05,200 Speaker 2: which is this We've all listened to Elon Musk and 60 00:03:05,280 --> 00:03:09,200 Speaker 2: Donald Trump talk about their attitude towards organized labor and 61 00:03:09,400 --> 00:03:12,520 Speaker 2: labor unions. In fact, they've been sued over what they 62 00:03:12,639 --> 00:03:15,359 Speaker 2: said on Twitter. So the truth is, it's not a 63 00:03:15,480 --> 00:03:18,960 Speaker 2: choice between Kamala who is a very strong union person, 64 00:03:19,720 --> 00:03:23,079 Speaker 2: and a blank person. It's someone who clearly is anti 65 00:03:23,160 --> 00:03:27,080 Speaker 2: union and an anti working person. And that's been a 66 00:03:27,280 --> 00:03:30,399 Speaker 2: long history over decades of where mister Trump has gone 67 00:03:30,440 --> 00:03:33,239 Speaker 2: and where he's likely to go. So yes, it's absolutely 68 00:03:33,280 --> 00:03:38,040 Speaker 2: clear that Michigan. Obviously, the UAW has a huge sway 69 00:03:38,120 --> 00:03:40,080 Speaker 2: in Michigan and they're a really important part of the 70 00:03:40,120 --> 00:03:43,600 Speaker 2: Democratic coalition. But the truth is that the person who 71 00:03:43,640 --> 00:03:47,160 Speaker 2: supports working people and who supports organized labor is definitely 72 00:03:47,360 --> 00:03:51,800 Speaker 2: Kamala Harris. And to go any other way is to 73 00:03:52,160 --> 00:03:54,680 Speaker 2: ignore the facts of this week, let alone the last 74 00:03:54,680 --> 00:03:55,200 Speaker 2: two decades. 75 00:03:55,280 --> 00:03:58,280 Speaker 4: And Tom, you're painting quite a dichonomy between the two candidates. 76 00:03:58,320 --> 00:04:00,760 Speaker 4: And I just wonder in your conversations with not just 77 00:04:00,840 --> 00:04:04,840 Speaker 4: investors but portfolio companies that want to do clean technology, 78 00:04:04,960 --> 00:04:08,000 Speaker 4: if there's a sense that they're holding back on investing 79 00:04:08,080 --> 00:04:10,960 Speaker 4: because of the uncertainty of the race, and it might 80 00:04:10,960 --> 00:04:13,120 Speaker 4: continue to do so if it is a Trump presidency. 81 00:04:14,360 --> 00:04:16,720 Speaker 2: Well, I think when we talk about the possibility of 82 00:04:16,720 --> 00:04:19,520 Speaker 2: a Trump presidency, let's break it down into two things. 83 00:04:19,839 --> 00:04:21,640 Speaker 2: One is what's going to happen in the United States 84 00:04:21,640 --> 00:04:24,719 Speaker 2: of America. And I think that to a very large extent, 85 00:04:25,080 --> 00:04:27,920 Speaker 2: when it comes to the deployment of the existing technologies. 86 00:04:27,960 --> 00:04:30,200 Speaker 2: They're just cheaper. You know, if you look around the 87 00:04:30,200 --> 00:04:34,800 Speaker 2: world last year, so twenty twenty three of new electricity generation, 88 00:04:35,200 --> 00:04:37,760 Speaker 2: eighty six percent of it was renewable. They're not doing 89 00:04:37,839 --> 00:04:39,760 Speaker 2: that to be nice. They're doing it because it's a cheaper, 90 00:04:39,800 --> 00:04:42,640 Speaker 2: better deal. And those lines have crossed and there's nothing 91 00:04:43,040 --> 00:04:46,200 Speaker 2: that mister Trump can do to change the economic forces. 92 00:04:46,800 --> 00:04:50,400 Speaker 2: What is really important from the standpoint of addressing the 93 00:04:50,440 --> 00:04:53,760 Speaker 2: climate crisis more broadly, is this. This is obviously a 94 00:04:53,800 --> 00:04:58,800 Speaker 2: global issue. It requires global cooperation and American leadership. That 95 00:04:58,920 --> 00:05:01,400 Speaker 2: is something that a Trump and administration will never do. 96 00:05:01,760 --> 00:05:05,080 Speaker 2: I mean, they famously withdrew from the Paris Accords. He's 97 00:05:05,120 --> 00:05:08,839 Speaker 2: talking about getting out of NATO, let alone cooperating with 98 00:05:09,240 --> 00:05:12,599 Speaker 2: the UN efforts around climate. So from the standpoint of 99 00:05:12,640 --> 00:05:15,120 Speaker 2: the American economy, we're going to continue to deploy I 100 00:05:15,160 --> 00:05:17,159 Speaker 2: think that's baked in the cake, just because it's a 101 00:05:17,160 --> 00:05:21,479 Speaker 2: better deal. Texas has tripled its solar since twenty eighteen. 102 00:05:22,000 --> 00:05:24,280 Speaker 2: And that's the state where they love to say how 103 00:05:24,320 --> 00:05:27,200 Speaker 2: bad renewables are, but they're a bigger win producer and 104 00:05:27,200 --> 00:05:28,200 Speaker 2: producer than California. 105 00:05:28,279 --> 00:05:30,080 Speaker 1: Tell me Jeff about thirty seconds. Do you think that 106 00:05:30,160 --> 00:05:33,280 Speaker 1: Musk's friendship with Donald Trump will ensure that there will 107 00:05:33,279 --> 00:05:35,400 Speaker 1: be a friendly environment for electric vehicles even though Trump 108 00:05:35,400 --> 00:05:36,479 Speaker 1: gets since the office. No. 109 00:05:37,160 --> 00:05:39,440 Speaker 2: I think that mister Trump doesn't really have policies and 110 00:05:39,480 --> 00:05:42,840 Speaker 2: he doesn't have friendships. So whatever he said on said 111 00:05:42,839 --> 00:05:45,640 Speaker 2: this week, that's something that will change over time because 112 00:05:45,800 --> 00:05:48,279 Speaker 2: they don't even have a platform. They literally don't have 113 00:05:48,320 --> 00:05:50,640 Speaker 2: a platform because they don't have policies. They just have 114 00:05:50,760 --> 00:05:52,279 Speaker 2: instincts urges, and pensions. 115 00:05:52,680 --> 00:05:55,760 Speaker 1: Tim Styer of Galvanized Climate Solutions, who really appreciate you 116 00:05:55,800 --> 00:05:57,520 Speaker 1: coming in as always, thank you for being here.