Jeremy Grantham, co-founder of Grantham Mayo Van Otterloo, said he will devote 98 percent of his net worth, or about $1 billion, to help with climate change, reported Bloomberg.
Climate change is a topic known to be discussed by Grantham. At universities and investor conferences, gardening clubs and local environmental groups, he gives a talk titled “Race of Our Lives,” which addresses climate change and how humans can fight and adapt to climate change.
Currently he and his wife, Hanne, are giving more than $30 million a year to eight large nonprofits and about 30 smaller ones.
In April 2017, GMO launched a Climate Change Fund, which invests in companies and commodities expected to benefit from decarbonization — clean energy, agriculture, water, energy efficiency, and commodities such as copper that are used heavily in green technology such as batteries. The fund’s criteria are limited to the climate.
