Kleiner Perkins' Doerr Gives More Cash to Defend Climate Law in California
Venture capitalist John Doerr and his wife gave $1.5 million last week to a group that’s defending global-warming legislation in California, bringing the couple’s total contribution so far to $2 million.
Proposition 23, a ballot initiative that Californians will vote on Nov. 2, would delay the Global Warming Solutions Act until the state’s jobless rate, now 12.4 percent, falls to 5.5 percent for four consecutive quarters. The state law authorizes a series of greenhouse gas-cutting programs, including a California cap-and-trade market that’s due to start in 2012.
John Doerr, a partner at the venture capital firm Kleiner Perkins Caufield & Byers in Menlo Park, California, gave $500,000 Sept. 30 to a committee that’s campaigning to defeat Proposition 23, according to state records. His wife, Ann Doerr, gave $1 million to the group the same day, Steven Maviglio, a spokesman for the committee, said in an e-mail. John Doerr had earlier given $500,000 to the committee on Aug. 6.
The “No on 23” committee has raised $12.8 million so far to pay for a campaign that includes television advertising and independent polling, according to state records. Tom Steyer, founder of San Francisco-based Farallon Capital Management LLC and a co-chairman of the committee, gave $2.5 million on Sept. 30, bringing his total contribution to $5 million.
Other committees formed to campaign against Proposition 23 have raised a combined $3.3 million. The committee supporting Proposition 23, whose donors include San Antonio-based refiners Tesoro Corp. and Valero Energy Corp., has raised $8.4 million, according to state records.
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