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Mark Gallogly (right) sits with former Treasury Secretary Timothy Geithner at the White House in November 2009. Photo: Alex Wong/Getty Images

Mark Gallogly, a private-equity titan who's been working for John Kerry to line up private-sector financing to combat climate change and serve as a liaison to the business community, is leaving the administration, Axios has learned.

The big picture: Gallogly is departing almost as quietly as he joined, with one difference: Kerry, President Biden's special envoy for climate, is publicly acknowledging his role — and his contributions.

  • “When I was appointed to this role, Mark was among the first people I called on to join the effort,” Kerry said in a statement to Axios.
  • “In recent months, he’s brought his considerable private-sector experience, financial acumen and climate activism to bear in facilitating productive conversations with the financial institutions and companies that will be key to implementing the ambitious climate solutions we need.”
  • Gallogly retired in 2020 from Centerbridge Partners, a private-equity firm he co-founded after 16 years at Blackstone. He never was expected to stay at the State Department long-term. His last day was Wednesday.

Why it matters: Gallogly’s departure is a sign Kerry's international climate office is past its startup phase and has established crucial inroads with Wall Street, ahead of the United Nations Climate Change Conference in Glasgow in November.

  • Gallogly's arrival at State, first reported by Axios in March, caused consternation among progressives, who questioned why Kerry — a former secretary of State and senator — was working with someone with a background in private equity.
  • But Kerry has made it clear he thinks private-sector financing is vital to reducing carbon emissions by funding clean technologies.
  • In April, the White House touted pledges from JPMorgan Chase and Citigroup to steer trillions of dollars into sustainability efforts.

Go deeper: As the White House works to get its infrastructure proposals through Congress, it's highlighting the green-energy provisions in the $579 billion bipartisan deal.

  • It's also telegraphing that the president has much more planned for climate.
  • The White House plans to use the filibuster-proof budget reconciliation process to mandate that power companies adopt a “clean-energy standard,” Axios reported Tuesday.

Go deeper

Ben Geman, author of Generate
Jun 29, 2021 - Energy & Environment

White House sells infrastructure deal amid green angst

Illustration: Sarah Grillo/Axios

The White House is trying to build support for clean energy and climate pieces of the $1.2 trillion bipartisan infrastructure outline at a time when activists are calling the plan far too modest.

Why it matters: The White House faces growing urgency to corral progressive lawmakers now that President Biden has abandoned threats to veto the plan unless a much larger, Democrats-only package moves too.

Exclusive: White House signals "clean" standard push in budget reconciliation

Illustration: Aïda Amer/Axios

The White House hopes to use the filibuster-proof budget reconciliation process to mandate that power companies supply escalating amounts of zero-carbon electricity, according to a memo from two top aides obtained by Axios.

Why it matters: The policy, called a "clean energy standard," is a priority for environmentalists, and the memo comes as activists fear infrastructure talks will leave major climate measures on the cutting room floor.

Biden calls on Congress to extend eviction moratorium as deadline looms

Photo: Michael M. Santiago/Getty Images

President Biden called on Congress on Thursday to extend the CDC's national eviction moratorium due to the threat of the Delta variant, after the Supreme Court ruled that the administration couldn't extend it past July 31 without specific legislation.

Why it matters: Millions of tenants across the country face the threat of eviction in the coming days. The moratorium was first implemented in September 2020 and extended several times to prevent a wave of evictions caused by pandemic-related economic decline.

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