Jeremy Grantham, chairman of Grantham Mayo van Otterloo, and his wife, Hannelore, are donating £12 million ($23.57 million) to Imperial College London to establish a Grantham Institute for Climate Change, the college announced in a news release today. The donation, to be made by the Grantham Foundation for the Protection of the Environment - which the Granthams established in 1997 - will provide for a dedicated space for the institute on the college's campus and create 10 new research posts. In the release, Mr. Grantham called climate change "the most important issue we face over the next 50 years."
The foundation's most recent IRS filing listed fair market value of its assets at $94.6 million as of Dec. 31, 2005.
