NEW YORK, Oct. 7 (Xinhua) -- U.S. billionaire Tom Steyer hired former U.S. Secretary of State and top U.S. climate diplomat John Kerry to join his sustainable-investing firm, said a statement on Monday.

Kerry, 80, stepped down from the Joe Biden administration in early 2024 after more than 3 years pressing nations to address global warming.

He will be co-executive chair of Galvanize Climate Solutions, which was co-founded by Steyer and Katie Hall and manages about 1 billion U.S. dollars.

"Kerry is the latest climate elder statesmen to get involved in sustainable investing after leaving politics," said Bloomberg News in its report about the move.

Steyer, 67, a former hedge fund manager, ran for the Democratic presidential nominee in 2020 and then helped start Galvanize the following year.

Galvanize invests in venture capital, real estate, stocks and other assets. Kerry will focus on expanding the firm's strategies and inform how technology, policy and geopolitics are shaping the shift to clean energy, said the San Francisco-based firm. Enditem

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