When climate investor and philanthropist Tom Steyer sat down with Scott Lewis of Voice of San Diego for the 2025 Charles David Keeling Memorial Lecture, one of the first things he talked about was a graph. Every morning, he checks the Keeling Curve, which he likens to “the Earth’s temperature,” comparing yesterday’s number with the same day a year before to see where we are headed.
From there, the conversation turns to power, rules, and the marketplace. Steyer describes capitalism as incredibly efficient but amoral, and says we depend on democracy to set the framework for what is acceptable. To make progress on climate, capitalism and policy must work together at scale. He points to the rapid rise of renewables and electrification: from relatively affordable electric vehicles in China to people in Pakistan increasing electricity generation by buying solar panels and putting them on their homes. For Steyer, these trends show cleaner options are already winning in the marketplace, even as fossil fuel plants stay in use longer than expected.
Steyer is candid about the obstacles. Today’s utility-scale batteries generally hold a charge for about four hours, so longer-lasting storage and a more efficient grid are crucial. He describes promising work on advanced geothermal projects and new kinds of nuclear reactors, while still betting that renewables plus better batteries will do most of the work. True to the spirit of the Keeling Memorial Lecture, which is given by a prominent member of the global change community, the discussion stays grounded in concrete numbers and trends while treating the energy transition as both a pressing challenge and a rapidly unfolding opportunity.