At a private New York dinner, Energy Secretary Jennifer Granholm appealed to top Wall Street executives, including Jamie Dimon and David Solomon, to invest in clean power, leveraging President Biden’s signature climate law in her case, sources say. The dinner, orchestrated with the assistance of former Treasury Secretary Hank Paulson, aimed to convene influential figures capable of directing large pools of capital and attracting private-sector investments. Granholm highlighted the billions of dollars allotted for hydrogen and other projects under the 2022 Inflation Reduction Act, which is slated to unlock over $1 trillion in funding for clean-energy technologies, such as electric vehicles, solar, wind, and nuclear.
According to sources, executives in attendance included Philipp Hildebrand of BlackRock, Blair Effron of Centerview Partners, Dina Powell McCormick of BDT & MSD Partners, and Joseph Bae of KKR & Co. The Energy Department emphasized Granholm’s ongoing engagement with decision-makers in the climate and energy sectors, signaling that America’s clean energy transition will hinge on private-sector leadership and government facilitation. While the attendees and their firms either refrained from commenting or did not respond, Goldman Sachs has estimated that the climate law will catalyze trillions in private-sector investments, serving as a linchpin for Biden’s ambitious decarbonization targets.
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