Environmentalist to weigh in on Iowa’s U.S. Senate race

Iowa's competitive U.S. Senate race is one of seven that billionaire environmentalist Tom Steyer will target in this year's election cycle.

Steyer, who made his fortune running Farallon Capital Management, an asset management firm, has said that he will spend $50 million on this year's races and seek to raise $50 million more, according to news reports.

On Thursday, his Super PAC, NextGen Climate, announced it is focusing its efforts on Senate races in four states and gubernatorial contests in three others.

Iowa's Senate race is thought to be one of the most competitive in the country but the PAC, which also seeks to have a longer-term impact, is spending money in key presidential states. In addition to Iowa, the PAC will spend money on Senate races in New Hampshire, Colorado and Michigan.

In its announcement, NextGen Climate criticized the two leading GOP Senate candidates, saying state Sen. Joni Ernst and ex-energy executive Mark Jacobs have expressed doubts about man's contribution to climate change.

NextGen's announcement means there will be yet another billionaire lurking over the state's 2014 Senate race.

Already, the billionaire Koch Brothers have weighed in on the race.

An affiliated group, Freedom Partners, already has aired advertisements criticizing Democrat Bruce Braley.

Braley's campaign has made it a regular practice to appeal to donors and activists by invoking the Koch name and warning of their influence.

NextGen said it will support candidates that have taken on climate change.

In 2009, Braley supported a cap and trade bill in the House.

The bill was aimed at lessening the impact of climate change, but the Senate did not act on it.

For the most part, Democrats and Braley have accentuated pocketbook issues this campaign cycle. But NextGen says it hopes to elevate worries over climate by investing in key states.

The White House issued a report a couple of weeks ago warning of the dire impact of climate change, including publishing details on a state-by-state level.

Steyer has been active in politics previously. In 2010, he and others spent millions of dollars to help defeat a California ballot measure that would have blocked implementing a state law aimed at rolling back greenhouse gas emissions.

NextGen also said Thursday it will target governor's races in Florida, Maine and Pennsylvania.