Grantham Fdn

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June 10, 2019Lomborg wrote an <a href="https://www.telegraph.co.uk/politics/2019/06/10/theresa-may-spend-1-trillion-pointless-policy-climate-madness/" data-wpel-link="external" target="blank" rel="external noopener noreferrer" style="text-decoration-line: none; font-weight: bold; color: rgb(0, 51, 153); outline: none; box-sizing: border-box; box-shadow: none;">article</a> for The Telegraph entitled “Theresa May is about to spend £1 trillion on a pointless policy. This climate madness has to end.”<span class="modern-footnotes-footnote modern-footnotes-footnote--hover-on-desktop" data-mfn="63" data-mfn-post-scope="0000000005c314d20000000016b44709_7823" style="box-sizing: border-box; line-height: initial; position: relative; vertical-align: baseline; top: -0.5em; padding-left: 2px; padding-right: 2px;"><a role="button" aria-pressed="false" aria-describedby="mfn-content-0000000005c314d20000000016b44709_7823" data-wpel-link="internal" style="font-weight: bold; color: rgb(0, 51, 153); outline: none; box-sizing: border-box; background-color: transparent; box-shadow: none;">63</a> Lomborg was <a href="https://www.telegraph.co.uk/opinion/2019/06/13/theresa-mays-net-zero-target-wrong-approach-climate-change/" data-wpel-link="external" target="blank" rel="external noopener noreferrer" style="text-decoration-line: none; font-weight: bold; color: rgb(0, 51, 153); outline: none; box-sizing: border-box; box-shadow: none;">quoted</a> in a Telegraph editorial three days later which called a “net zero” target for the UK the “wrong approach to climate change.”<span class="modern-footnotes-footnote modern-footnotes-footnote--hover-on-desktop" data-mfn="64" data-mfn-post-scope="0000000005c314d20000000016b44709_7823" style="box-sizing: border-box; line-height: initial; position: relative; vertical-align: baseline; top: -0.5em; padding-left: 2px; padding-right: 2px;"><a role="button" aria-pressed="false" aria-describedby="mfn-content-0000000005c314d20000000016b44709_7823" data-wpel-link="internal" style="font-weight: bold; color: rgb(0, 51, 153); outline: none; box-sizing: border-box; background-color: transparent; box-shadow: none;">64</a> Lomborg’s article was <a href="http://www.lse.ac.uk/GranthamInstitute/news/uk-newspaper-the-daily-telegraph-duped-by-bjorn-lomborgs-climate-propaganda/" data-wpel-link="external" target="_blank" rel="external noopener noreferrer" style="text-decoration-line: none; font-weight: bold; color: rgb(0, 51, 153); outline: none; box-sizing: border-box; box-shadow: none;">criticized</a> by Bob Ward, Policy and Communications Director at the London School of Economics’ Grantham Institute, in a blog entitled ”UK newspaper ‘The Daily Telegraph’ duped by Bjorn Lomborg’s climate propaganda.” Ward wrote that Lomborg’s article was “characteristically filled with false claims, yet was obviously not fact-checked by the newspaper.”<span class="modern-footnotes-footnote modern-footnotes-footnote--hover-on-desktop" data-mfn="65" data-mfn-post-scope="0000000005c314d20000000016b44709_7823" style="box-sizing: border-box; line-height: initial; position: relative; vertical-align: baseline; top: -0.5em; padding-left: 2px; padding-right: 2px;"><a role="button" aria-pressed="false" aria-describedby="mfn-content-0000000005c314d20000000016b44709_7823" data-wpel-link="internal" style="font-weight: bold; color: rgb(0, 51, 153); outline: none; box-sizing: border-box; background-color: transparent; box-shadow: none;">65</a>=<a href="https://www.independent.co.uk/environment/climate-change/think-tanks-take-oil-money-and-use-it-to-fund-climate-deniers-1891747.html">https://www.independent.co.uk/environment/climate-change/think-tanks-take-oil-money-and-use-it-to-fund-climate-deniers-1891747.html</a>2/10<p style="box-sizing: inherit; margin: 0px 0px 16px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">An orchestrated campaign is being waged against climate change science to undermine public acceptance of man-made global warming, environment experts claimed last night.<p style="box-sizing: inherit; margin: 16px 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">The attack against scientists supportive of the idea of man-made climate change has grown in ferocity since the leak of thousands of documents on the subject from the University of East Anglia (UEA) on the eve of the Copenhagen climate summit last December.<p style="box-sizing: inherit; margin: 16px 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">Free-market, anti-climate change think-tanks such as the Atlas Economic Research Foundation in the US and the International Policy Network in the UK have received grants totalling hundreds of thousands of pounds from the multinational energy company ExxonMobil. Both organisations have funded international seminars pulling together climate change deniers from across the globe.<div id="thirdparty01" style="box-sizing: inherit; margin: 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; vertical-align: baseline;"><div id="article-im-prompt" style="box-sizing: inherit; margin: 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; vertical-align: baseline; position: relative;"><p style="box-sizing: inherit; margin: 16px 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">Many of these critics have broadcast material from the leaked UEA emails to undermine climate change predictions and to highlight errors in claims that the Himalayan glaciers could disappear by 2035. Professor Phil Jones, who has temporarily stood down as director of UEA's climactic research unit, is reported in today's Sunday Times to have "several times" considered suicide. He also drew parallels between his case and that of Dr David Kelly, found dead in the wake of the row over the alleged "sexing up" of intelligence in the run-up to the invasion of Iraq. Professor Jones said he was taking sleeping pills and beta-blockers and had received two death threats in the past week alone.<p style="box-sizing: inherit; margin: 16px 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">Climate sceptic bloggers broadcast stories last week casting doubts on scientific data predicting dramatic loss of the Amazon rainforest. All three stories, picked up by mainstream media, questioned the credibility of the International Panel on Climate Change (IPCC) and the way it does its work. A new attack on climate science, already dubbed "Seagate" by sceptics, relating to claims that more than half the Netherlands is in danger of being submerged under rising sea levels, is likely to be at the centre of the newest skirmish in coming weeks.<p style="box-sizing: inherit; margin: 16px 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">The controversies have shaken the IPCC, whose chairman, Dr Rajendra Pachauri, was subjected to a series of personal attacks on his reputation and lifestyle last week. A poll this weekend confirmed that public confidence in the climate change consensus has been shaken: one in four Britons – 25 per cent – now say they do not believe in global warming; previously this figure stood at 15 per cent.<p style="box-sizing: inherit; margin: 16px 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">Professor Bob Watson, the chief scientific adviser to the Department for Environment, Food and Rural Affairs (Defra) and former chairman of the IPCC, said yesterday that the backlash is the result of a campaign: "It does appear that there's a concerted effort by a number of sceptics to undermine the credibility of the evidence behind human-induced climate change." He added: "I am sure there are some sceptics who may well be funded by the private sector to try to cast uncertainty."<p style="box-sizing: inherit; margin: 16px 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">A complicated web of relationships revolves around a number of right-wing think-tanks around the world that dispute the threats of climate change. ExxonMobil is a key player behind the scenes, having donated hundreds of thousands of dollars in the past few years to climate change sceptics. The Atlas Foundation, created by the late Sir Anthony Fisher (founder of the Institute of Economic Affairs), received more than $100,000 in 2008 from ExxonMobil, according to the oil company's reports.<p style="box-sizing: inherit; margin: 16px 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">Atlas has supported more than 30 other foreign think-tanks that espouse climate change scepticism, and co-sponsored a meeting of the world's leading climate sceptics in New York last March. Called "Global Warming: Was It Ever Really a Crisis?", it was organised by the Heartland Institute – a group that described the event as "the world's largest-ever gathering of global warming sceptics". The organisation is another right-wing think-tank to have benefited from funding given by ExxonMobil in recent years.<p style="box-sizing: inherit; margin: 16px 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">A large British contingent was present at the event, with speakers including Dr Benny Peiser, from Lord Lawson's climate sceptic think-tank, the Global Warming Policy Foundation (GWPF); the botanist David Bellamy; Julian Morris and Kendra Okonski from the London-based International Policy Network; the weather forecaster Piers Corbyn; Christopher Monckton, a former policy adviser to Margaret Thatcher; and Professor David Henderson, a member of GWPF's advisory council. Speakers at the event also included two prominent climate bloggers who associate with Paul Dennis, a 54-year-old climate researcher at the University of East Anglia who has been questioned by police investigating the theft of climate data.<div id="thirdparty02" style="box-sizing: inherit; margin: 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; vertical-align: baseline;"><div class="ad-perform js-ad-placeholder js-ad-placeholder--perform" style="box-sizing: inherit; margin: 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; vertical-align: baseline;"><p style="box-sizing: inherit; margin: 16px 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">In a posting on the blog of the climate sceptic Andrew Montford on Friday, Mr Dennis insisted: "I did not leak any files, data, emails or any other material. I have no idea how the files were released or who was behind it."<p style="box-sizing: inherit; margin: 16px 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">But he confirmed that he had been in email contact with Stephen McIntyre, who runs climateaudit.org – a site that was one of the first to receive an anonymous link to the original leaked data from UEA.<p style="box-sizing: inherit; margin: 16px 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">Mr Dennis said he emailed Mr McIntyre to alert him to a "departmental email saying that emails and files were hacked" and that "police had copies of my email correspondence with Steve McIntyre and Jeff Id [a pseudonym for the climate sceptic Patrick Condon]. They said it was because I had sent the emails that they were interviewing me."<p style="box-sizing: inherit; margin: 16px 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">The UEA researcher also has connections with another prominent sceptic, Anthony Watts, with whom he has posted and who spoke beside Mr McIntyre. Mr Dennis was not available for comment.<p style="box-sizing: inherit; margin: 16px 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">Bob Ward, the policy director of the Grantham Research Institute on Climate Change at the London School of Economics, said: "A lot of the climate sceptic arguments are being made by people with demonstrable right-wing ideology which is based on opposition to any environmental regulation of the market, and they are clearly being given money that allows them to disseminate their views more widely than would be the case if they didn't have oil company funding."<p style="box-sizing: inherit; margin: 16px 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">But Dr Richard North, a climate change sceptic and blogger, rejected claims of a conspiracy as "laughable" and denied having any links to vested interests. "Anybody who knows me knows I'm a loner. Nobody tells me what to do or dictates my agenda."<p style="box-sizing: inherit; margin: 16px 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 27px; vertical-align: baseline;">ExxonMobil said in a statement: "We have the same concerns as people everywhere – and that is how to provide the world with the energy it needs while reducing greenhouse gas emissions."=

<div class="journal-entry-text">

      
      <h2 class="title">
    
        
    
        <font size="4" face="Times New Roman"><a class="journal-entry-navigation-current" href="http://www.insidephilanthropy.com/fundraising-for-climate-change/grantham-foundation-grants-for-climate-change.html">Grantham Foundation: Grants for Climate&nbsp;Change</a>  
     
         
    
      </font></h2>

      
      <div class="body">

        
        
        
          <p><span style="background-color: rgb(255, 255, 102);"><font size="4" face="Times New Roman"><strong>IP OVERVIEW:</strong> Founded in 1997 by a hedge

fund manager with a knack for predicting disaster, the Grantham

Foundation gives millions toward cultivating environmentally sustainable

economies and climate-adapted communities. While all types of

organizations receive funding from Grantham, those that excel at

communicating with the public and working collaboratively with other

groups will be its biggest winners.

IP TAKE: If encouraging more green business or more

environmental news coverage is in your mission statement, this is the

foundation for you.

PROFILE: A hedge fund manager with a keen eye for

long-term risk, Jeremy Grantham gained renown for accurately predicting

every major market bubble of the last few decades. And the worst bubble

of all, he is convinced, is yet to come: the “carbon bubble” of runaway

greenhouse gas emissions and unsustainable resource use. He and his

wife, Hannelore Grantham, established the Grantham Foundation for the

Protection of the Environment, with a stated mission of organizing

global action to mitigate and manage the hazards of climate change and

other environmental crises.

Since <a href="http://www.insidephilanthropy.com/climate-change/2014/1/29/meet-jeremy-grantham-an-emerging-force-in-climate-change-phi.html">its launch in 1997</a>,

the foundation has been building substantial assets and sharing them

with organizations that are active on issues like climate change. With a

trust now surpassing $376 million, it doles out $15 million to $20

million yearly toward efforts to organize collaborative, grassroots-led

solutions for cutting humanity’s carbon footprint down to size, while

adapting to the climate turbulence that has already begun to unfold.

While Boston-based Grantham’s giving is nationwide, and even

international in some cases, there is an emphasis on groups based in the

Northeast, or with a national focus.

All grants are invitation-only. Like any good hedge fund manager,

Grantham is highly attentive to risk and return on investment, and shows

keen discretion in which operations he will and will not fund.

But don’t take that to mean that only the big-fish organizations get

the awards. Many medium-sized and small nonprofits are among Grantham’s

grantees. What this foundation looks for in a grantseeker isn’t so much a

hefty financial base or a big staff, as a clear and results-oriented

mission.

The foundation lists three overriding principles that it says guides

its grantmaking. Climate Change is one of these—both mitigating it and

adapting to it. <a href="http://www.insidephilanthropy.com/climate-change/2014/1/30/if-you-work-on-climate-change-get-to-know-this-foundation-ex.html">Communications and Collaboration are the two others.</a>

Grantham places high value on organizations that inform the public of

environmental ills, and organizations that team up effectively with

partners and supporters to build critical masses that get things done.

Emphasizing

communication, Grantham consistently gives grants to organizations that

are trying to improve media coverage about climate change. It has

contributed often to Yale University’s Forum on Climate Change and the

Media, which trains student journalists in environmental

reporting—countering misinformation from climate-change deniers is an

big priority for Jeremy Grantham. The foundation also frequently donates

to environmental journalism endeavors at National Public Radio, the

news-media watchdog group Media Matters, and the environmental news site

Grist.org.

Many other grantees nab awards for demonstrating a focus on

collaboration, often by building coalitions with the general public and

with businesses. One major example is 350.org, a New York-based

nonprofit that has received many large checks from Grantham for its

organizing of climate-related grassroots movements across the globe.

This particular grantee has an extensive resume of collaboration with

government-reform organizations, such as participation in a mass

petition to world leaders at the Rio+20 Summit in 2012, and

co-organizing simultaneous rallies.

Not surprisingly, given Jeremy Grantham’s career background, this

foundation looks favorably on nonprofits that work collaboratively with

businesses to lay out the groundwork for environmentally sustainable

economies and enterprises. Ceres, a Massachusetts-based nonprofit

alliance of sustainability-minded business leaders and conservationists,

repeatedly gets annual awards of $50,000 for its cultivation of more

environmentally aware business practices and models. Grantham also gave a

$25,000 grant to Environment Northeast, a nonprofit whose mission is

development of sustainable economies in the northeastern United States

and Canada. The Sustainable Markets Foundation, which pursues similar

goals worldwide, has landed more than $500,000 from Grantham.

And since 2013, the foundation has also upped investment in

technologies for sustainable farming, including genetic modification. In

this area, Grantham stands out from many other environment groups that

have come out against GM foods, despite the body of research that has

found them safe. GM crops’ potential to better endure drought and

disease compared to standard crops outweighs the controversy that they

brew in the environmental community, in Grantham’s book.

PEOPLE:

<a href="http://insidephilanthropy.squarespace.com/climate-change/2014/1/29/meet-jeremy-grantham-an-emerging-force-in-climate-change-phi.html">Jeremy Grantham</a>, co-founder and trustee

<a href="http://insidephilanthropy.squarespace.com/climate-change/2014/1/30/if-you-work-on-climate-change-get-to-know-this-foundation-ex.html">Ramsay Ravenel</a>, executive director

LINKS:

<a href="http://www.granthamfoundation.org">The Grantham Foundation for the Protection of the Environment</a>

      </div>

</div>
==
wiki
Jeremy Grantham is a British investor and co-founder and chief

investment strategist of Grantham, Mayo, & van Otterloo (GMO), a

Boston-based <a href="https://en.wikipedia.org/wiki/Asset_management" title="Asset management">asset management</a> firm. GMO is one of the largest managers of such funds in the world, having more than US $118 billion in <a href="https://en.wikipedia.org/wiki/Assets_under_management" title="Assets under management">assets under management</a> as of March 2015.<a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-1">[1]</a>

Grantham is regarded as a highly knowledgeable investor in various

stock, bond, and commodity markets, and is particularly noted for his

prediction of various <a href="https://en.wikipedia.org/wiki/Speculative_bubble" title="Speculative bubble" class="mw-redirect">bubbles</a>.<a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-CharlieRose-2">[2]</a> He has been a vocal critic of various governmental responses to the <a href="https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932010" title="Financial crisis of 2007–2010" class="mw-redirect">Global Financial Crisis</a>.<a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-jyg2-3">[3]</a><a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-jyg3-4">[4]</a> Grantham started one of the world's first index funds in the early 1970s.<a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-5">[5]</a>

In 2011 he was included in the <a href="https://en.wikipedia.org/wiki/50_Most_Influential_%28Bloomberg_Markets_ranking%29" title="50 Most Influential (Bloomberg Markets ranking)">50 Most Influential</a> ranking of <a href="https://en.wikipedia.org/wiki/Bloomberg_Markets" title="Bloomberg Markets">Bloomberg Markets</a> magazine.

<h2>Contents</h2>

</div></div><div id="toc" class="toc">

<ul><li class="toclevel-1 tocsection-1"><a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#Early_life">1 Early life</a></li><li class="toclevel-1 tocsection-2"><a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#Investment_philosophy">2 Investment philosophy</a></li><li class="toclevel-1 tocsection-3"><a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#Views_on_market_bubbles_and_the_2007-2008_credit_crisis">3 Views on market bubbles and the 2007-2008 credit crisis</a></li><li class="toclevel-1 tocsection-4"><a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#Views_on_fossil_fuels_and_the_Keystone_pipeline">4 Views on fossil fuels and the Keystone pipeline</a></li><li class="toclevel-1 tocsection-5"><a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#Philanthropy">5 Philanthropy</a></li><li class="toclevel-1 tocsection-6"><a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#Awards_and_Honours">6 Awards and Honours</a></li><li class="toclevel-1 tocsection-7"><a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#References">7 References</a></li><li class="toclevel-1 tocsection-8"><a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#External_links">8 External links</a></li><li class="toclevel-1 tocsection-9"><a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#JG_Letter">9 JG Letter</a></li></ul>

</div>

<h2>Early life</h2>

Grantham was born on October 6, 1938 in <a href="https://en.wikipedia.org/wiki/Hertfordshire" title="Hertfordshire">Hertfordshire</a> and grew up in <a href="https://en.wikipedia.org/wiki/Doncaster" title="Doncaster">Doncaster</a>.<a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-jyg1-6">[6]</a> He studied Economics at the <a href="https://en.wikipedia.org/wiki/University_of_Sheffield" title="University of Sheffield">University of Sheffield</a>. In 1966 he completed an <a href="https://en.wikipedia.org/wiki/MBA" title="MBA" class="mw-redirect">MBA</a> at <a href="https://en.wikipedia.org/wiki/Harvard_Business_School" title="Harvard Business School">Harvard Business School</a>.

<h2>Investment philosophy</h2>

Grantham's investment philosophy can be summarized by his commonly

used phrase "reversion to the mean." Essentially, he believes that all <a href="https://en.wikipedia.org/wiki/Asset_classes" title="Asset classes">asset classes</a> and markets will <a href="https://en.wikipedia.org/wiki/Mean_reversion_%28finance%29" title="Mean reversion (finance)">revert to mean</a>

historical levels from highs and lows. His firm seeks to understand

historical changes in markets and predict results for seven years into

the future. When there is deviation from historical means (averages),

the firm may take an investment position based on a return to the mean.

The firm <a href="https://en.wikipedia.org/wiki/Asset_allocation" title="Asset allocation">allocates assets</a> based on internal predictions of market direction.<a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-7">[7]</a>

<h2>Views on market bubbles and the 2007-2008 credit crisis</h2>

Grantham has built much of his investing reputation over his long

career by correctly identifying speculative market "bubbles" as they

were happening and steering clients' assets clear of impending crashes.

Grantham avoided investing in Japanese equities and real estate in the

late eighties, as well as technology stocks during the <a href="https://en.wikipedia.org/wiki/Internet_bubble" title="Internet bubble" class="mw-redirect">Internet bubble</a> in the late nineties.

In GMO's April 2010 Quarterly Letter Grantham spoke to the tendency for all bubbles to revert to the mean saying:

<table class="cquote" role="presentation" style="margin:auto; border-collapse: collapse; border: none; background-color: transparent; width: auto;"><tbody><tr><td style="width: 20px; vertical-align: top; border: none; font-weight: bold; line-height: 0.6em; text-align: left; padding: 10px;">“</td><td style="vertical-align: top; border: none; padding: 4px 10px;">For the record, I wrote an article for <a href="https://en.wikipedia.org/wiki/Fortune_%28magazine%29" title="Fortune (magazine)">Fortune</a> published

in September 2007 that referred to three “near certainties”: profit

margins would come down, the housing market would break, and the

risk-premium all over the world would widen, each with severe

consequences. You can perhaps only have that degree of confidence if you

have been to the history books as much as we have and looked at every

bubble and every bust. We have found that there are no exceptions. We

are up to 34 completed bubbles. Every single one of them has broken all

the way back to the trend that existed prior to the bubble forming,

which is a very tough standard. So it’s simply illogical to give up the

really high probabilities involved at the asset class level. All the

data errors that frighten us all at the individual stock level are

washed away at these great aggregations. It’s simply more reliable,

higher-quality data.<a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-8">[8]</a></td><td style="width: 20px; vertical-align: bottom; border: none; font-weight: bold; line-height: 0.6em; text-align: right; padding: 10px;">”</td></tr></tbody></table>

In his Fall 2008 GMO letter, Grantham commented on the underlying causes of the world credit crisis:

avoid the development of crises, you need a plentiful supply of

foresight, imagination, and competence. A few quarters ago I likened our

financial system to an elaborate suspension bridge, hopefully built

with some good, old-fashioned Victorian over-engineering. Well, it

wasn’t over-engineered! It was built to do just one under favorable

conditions. Now with hurricanes blowing, the Corps of Engineers, as it

were, are working around the clock to prop up a suspiciously jerry-built

edifice. When a crisis occurs, you need competence and courage to deal

with it. The bitterest disappointment of this crisis has been how

completely the build-up of the bubbles in asset prices and risk-taking

was rationalized and ignored by the authorities, especially the formerly

esteemed Chairman of the Fed. ...<a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-9">[9]</a></td><td style="width: 20px; vertical-align: bottom; border: none; font-weight: bold; line-height: 0.6em; text-align: right; padding: 10px;">”</td></tr></tbody></table>

ask myself, ‘Why is it that several dozen people saw this crisis coming

for years?’ I described it as being like watching a train wreck in very

slow motion. It seemed so inevitable and so merciless, and yet the

bosses of Merrill Lynch and Citi and even <a href="https://en.wikipedia.org/wiki/U.S._Treasury_Secretary" title="U.S. Treasury Secretary" class="mw-redirect">U.S. Treasury Secretary</a> <a href="https://en.wikipedia.org/wiki/Hank_Paulson" title="Hank Paulson" class="mw-redirect">Hank Paulson</a> and Fed Chairman <a href="https://en.wikipedia.org/wiki/Ben_Bernanke" title="Ben Bernanke">Ben Bernanke</a> — none of them seemed to see it coming.

I have a theory that people who find themselves running

major-league companies are real organization-management types who focus

on what they are doing this quarter or this annual budget. They are

somewhat impatient, and focused on the present. Seeing these things

requires more people with a historical perspective who are more

thoughtful and more right-brained — but we end up with an army of

left-brained immediate doers.

So it’s more or less guaranteed that every time we get an

outlying, obscure event that has never happened before in history, they

are always going to miss it. And the three or four-dozen-odd characters

screaming about it are always going to be ignored. . . .

So we kept putting organization people — people who can influence

and persuade and cajole — into top jobs that once-in-a-blue-moon take

great creativity and historical insight. But they don’t have those

skills.<a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-10">[10]</a>

</td><td style="width: 20px; vertical-align: bottom; border: none; font-weight: bold; line-height: 0.6em; text-align: right; padding: 10px;">”</td></tr></tbody></table>

Grantham focused on the issue of personal traits and leadership in trying to explain how we reached the current economic crisis.

<h2>Views on fossil fuels and the Keystone pipeline</h2>

Grantham has repeatedly stated that the rising cost of energy - the

most fundamental commodity - between 2002 and 2008 has falsely inflated

economic growth and GDP figures worldwide and that we have been in a

"carbon bubble" for approximately the last 250 years in which energy was

very cheap. He believes that this bubble is coming to an end. He has

stated his opposition to the <a href="https://en.wikipedia.org/wiki/Keystone_Pipeline" title="Keystone Pipeline">Keystone Pipeline</a>

on the basis of the ruinous environmental consequences that its

construction will bring to Alberta and to the entire planet due to the

contribution that burning the extracted oil would make to <a href="https://en.wikipedia.org/wiki/Climate_change" title="Climate change">climate change</a>.<a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-CharlieRose-2">[2]</a><a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-summers-11">[11]</a>

<h2>Philanthropy</h2>

Grantham, together with his wife Hannelore, established the Grantham

Foundation For the Protection of the Environment in 1997. Substantial

commitments have been made to <a href="https://en.wikipedia.org/wiki/Imperial_College_London" title="Imperial College London">Imperial College London</a>, <a href="https://en.wikipedia.org/wiki/London_School_of_Economics" title="London School of Economics">London School of Economics</a> and to <a href="https://en.wikipedia.org/wiki/The_University_of_Sheffield" title="The University of Sheffield" class="mw-redirect">The University of Sheffield</a> to establish the <a href="https://en.wikipedia.org/wiki/Grantham_Institute-Climate_Change_and_Environment" title="Grantham Institute - Climate Change and Environment">Grantham Institute - Climate Change and Environment</a>, the <a href="https://en.wikipedia.org/wiki/Grantham_Research_Institute_on_Climate_Change_and_the_Environment" title="Grantham Research Institute on Climate Change and the Environment">Grantham Research Institute on Climate Change and the Environment</a>

and the Grantham Centre for Sustainable Futures, respectively, which

will enable the institutions to build on their extensive expertise in

climate change research.<a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-12">[12]</a>

The 2011 tax filing for the Grantham Foundation for the Protection of

the Environment shows the Foundation donated $1 million to both the <a href="https://en.wikipedia.org/wiki/Sierra_Club" title="Sierra Club">Sierra Club</a> and to <a href="https://en.wikipedia.org/wiki/Nature_Conservancy" title="Nature Conservancy" class="mw-redirect">Nature Conservancy</a>, and $2 million to the <a href="https://en.wikipedia.org/wiki/Environmental_Defense_Fund" title="Environmental Defense Fund">Environmental Defense Fund</a> that year. The Foundation has also provided support to <a href="https://en.wikipedia.org/wiki/Greenpeace" title="Greenpeace">Greenpeace</a>, the <a href="https://en.wikipedia.org/wiki/Worldwide_Fund_for_Nature" title="Worldwide Fund for Nature" class="mw-redirect">WWF</a> and the <a href="https://en.wikipedia.org/wiki/Smithsonian" title="Smithsonian" class="mw-redirect">Smithsonian</a>. From 2006-2012, The Grantham Foundation for Protection of the Environment funded a $75,000 <a href="https://en.wikipedia.org/wiki/Grantham_Prize" title="Grantham Prize">prize</a> for environmental reporting. The prize was administered by the <a href="https://en.wikipedia.org/wiki/University_of_Rhode_Island" title="University of Rhode Island">University of Rhode Island's</a> Metcalf Institute for Marine & Environmental Reporting. <a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-jyg1-6">[6]</a> <a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-13">[13]</a>

<h2>Awards and Honours</h2>

<div class="notice plainlinks">This list is <a href="https://en.wikipedia.org/wiki/Wikipedia:WikiProject_Lists#Incomplete_lists" title="Wikipedia:WikiProject Lists">incomplete</a>; you can help by <a class="external text" href="https://en.wikipedia.org/w/index.php?title=Jeremy_Grantham&action=edit">expanding it</a>.</div>

</dd></dl>

<ul><li>2009 Honorary degree, Imperial College, London.<a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-imp-14">[14]</a></li><li>2010 Honorary degree, <a href="https://en.wikipedia.org/wiki/The_New_School" title="The New School">The New School</a>, New York.<a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-nsny-15">[15]</a></li><li>2012 Honorary degree, The University of Sheffield.<a href="https://en.wikipedia.org/wiki/Jeremy_Grantham#cite_note-sheff-16">[16]</a></li></ul>

<h2>References</h2>

<ol class="references"><li id="cite_note-1">
</li></ol></div><div id="bodyContent" class="mw-body-content"><li id="cite_note-1"> <a rel="nofollow" class="external text" href="http://www.gmo.com/America/">GMO LLC. official site</a> Accessed February 20, 2014</li>

<li id="cite_note-CharlieRose-2">
</li><li id="cite_note-CharlieRose-2"> Charlie Rose Show <a rel="nofollow" class="external text" href="http://www.charlierose.com/view/interview/12812">Interview with Jeremy Grantham</a> Accessed May 11, 2013</li>

<li id="cite_note-jyg2-3">
</li><li id="cite_note-jyg2-3"> <cite class="citation news">Paul B. Farrell (1 December 2009). <a rel="nofollow" class="external text" href="http://www.marketwatch.com/story/obama-leading-us-right-to-great-depression-2-2009-12-01">"Obama's 'predictably irrational' economic policies"</a>. The Wall Street Journal (MarketWatch).</cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJeremy+Grantham&rft.atitle=Obama%27s+%27predictably+irrational%27+economic+policies&rft.au=Paul+B.+Farrell&rft.date=2009-12-01&rft.genre=article&rft_id=http%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fobama-leading-us-right-to-great-depression-2-2009-12-01&rft.jtitle=The+Wall+Street+Journal+%28MarketWatch%29&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal" class="Z3988" /></li>

<li id="cite_note-jyg3-4">
</li><li id="cite_note-jyg3-4"> <cite class="citation news">Katherine Jimenez (16 June 2010). <a rel="nofollow" class="external text" href="http://www.theaustralian.com.au/business/housing-market-a-time-bomb-says-investment-legend/story-e6frg8zx-1225880119320">"Housing market a 'time bomb' says investment legend."</a>. The Australian.</cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJeremy+Grantham&rft.atitle=Housing+market+a+%27time+bomb%27+says+investment+legend.&rft.au=Katherine+Jimenez&rft.date=2010-06-16&rft.genre=article&rft_id=http%3A%2F%2Fwww.theaustralian.com.au%2Fbusiness%2Fhousing-market-a-time-bomb-says-investment-legend%2Fstory-e6frg8zx-1225880119320&rft.jtitle=The+Australian&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal" class="Z3988" /></li>

<li id="cite_note-5">
</li><li id="cite_note-5"> <a rel="nofollow" class="external free" href="http://www.vanguard.com/bogle_site/lib/sp19970401.html">http://www.vanguard.com/bogle_site/lib/sp19970401.html</a></li>

<li id="cite_note-jyg1-6">
</li><li id="cite_note-jyg1-6"> <cite class="citation news">Leo Hickman (12 April 2013). <a rel="nofollow" class="external text" href="http://www.guardian.co.uk/environment/2013/apr/12/jeremy-grantham-environmental-philanthropist-interview?INTCMP=SRCH">"Jeremy Grantham, environmental philanthropist: 'We're trying to buy time for the world to wake up'"</a>. The Guardian. Retrieved 13 April 2013.</cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJeremy+Grantham&rft.atitle=Jeremy+Grantham%2C+environmental+philanthropist%3A+%27We%27re+trying+to+buy+time+for+the+world+to+wake+up%27&rft.au=Leo+Hickman&rft.date=2013-04-12&rft.genre=article&rft_id=http%3A%2F%2Fwww.guardian.co.uk%2Fenvironment%2F2013%2Fapr%2F12%2Fjeremy-grantham-environmental-philanthropist-interview%3FINTCMP%3DSRCH&rft.jtitle=The+Guardian&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal" class="Z3988" /></li>

<li id="cite_note-7">
</li><li id="cite_note-7"> <a rel="nofollow" class="external text" href="http://www.gmo.com/websitecontent/JGLetter_ALL_1Q10.pdf">JG Letter</a></li>

<li id="cite_note-8">
</li><li id="cite_note-8"> <a rel="nofollow" class="external text" href="http://www.gmo.com/websitecontent/JGLetter_ALL_1Q10.pdf">GMO Quarterly Letter, April 2010</a></li>

<li id="cite_note-9">
</li><li id="cite_note-9"> "GMO Quarterly Letter Fall 2008 Part I #</li>

<li id="cite_note-10">
</li><li id="cite_note-10"> "GMO Quarterly Letter Fall 2008 Part I #</li>

<li id="cite_note-summers-11">
</li><li id="cite_note-summers-11"> <cite class="citation news">Nick Summers (8 August 2013). <a rel="nofollow" class="external text" href="http://www.businessweek.com/articles/2013-08-08/gmos-jeremy-grantham-on-climate-change-and-investable-ideas">"GMO's Jeremy Grantham on Climate Change and Investable Ideas"</a>. <a href="https://en.wikipedia.org/wiki/BloombergBusinessweek" title="BloombergBusinessweek" class="mw-redirect">BloombergBusinessweek</a>. Retrieved 13 April 2013.</cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJeremy+Grantham&rft.atitle=GMO%27s+Jeremy+Grantham+on+Climate+Change+and+Investable+Ideas&rft.au=Nick+Summers&rft.date=2013-08-08&rft.genre=article&rft_id=http%3A%2F%2Fwww.businessweek.com%2Farticles%2F2013-08-08%2Fgmos-jeremy-grantham-on-climate-change-and-investable-ideas&rft.jtitle=BloombergBusinessweek&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal" class="Z3988" /></li>

<li id="cite_note-12">
</li><li id="cite_note-12"> <a rel="nofollow" class="external free" href="http://www3.imperial.ac.uk/climatechange">http://www3.imperial.ac.uk/climatechange</a></li>

<li id="cite_note-13">
</li><li id="cite_note-13"> <cite class="citation web"><a rel="nofollow" class="external text" href="http://metcalfinstitute.org/granthamprize/about-the-grantham-prize/">"About the Grantham Prize"</a>. <a rel="nofollow" class="external free" href="http://metcalfinstitute.org/granthamprize">http://metcalfinstitute.org/granthamprize</a>. Retrieved 23 October 2014.</cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJeremy+Grantham&rft.atitle=About+the+Grantham+Prize&rft.genre=unknown&rft_id=http%3A%2F%2Fmetcalfinstitute.org%2Fgranthamprize%2Fabout-the-grantham-prize%2F&rft.jtitle=http%3A%2F%2Fmetcalfinstitute.org%2Fgranthamprize&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal" class="Z3988"> External link in <code style="border: inherit; padding: inherit;">|website=</code> (<a href="https://en.wikipedia.org/wiki/Help:CS1_errors#param_has_ext_link" title="Help:CS1 errors">help</a>)</li>

<li id="cite_note-imp-14">
</li><li id="cite_note-imp-14"> <cite class="citation web">Imperial College, London (2009). <a rel="nofollow" class="external text" href="http://www3.imperial.ac.uk/newsandeventspggrp/imperialcollege/newssummary/news_6-5-2009-8-56-47">"News and Events"</a>. Imperial College. Retrieved 16 April 2013.</cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJeremy+Grantham&rft.au=Imperial+College%2C+London&rft.btitle=News+and+Events&rft.date=2009&rft.genre=unknown&rft_id=http%3A%2F%2Fwww3.imperial.ac.uk%2Fnewsandeventspggrp%2Fimperialcollege%2Fnewssummary%2Fnews_6-5-2009-8-56-47&rft.pub=Imperial+College&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook" class="Z3988" /></li>

<li id="cite_note-nsny-15">
</li><li id="cite_note-nsny-15"> <cite class="citation web">The New School (2012). <a rel="nofollow" class="external text" href="http://www.newschool.edu/commencement/candidates-honorary-degrees/">"Honorary Degrees"</a>. The New School. Retrieved 17 April 2013.</cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJeremy+Grantham&rft.au=The+New+School&rft.btitle=Honorary+Degrees&rft.date=2012&rft.genre=unknown&rft_id=http%3A%2F%2Fwww.newschool.edu%2Fcommencement%2Fcandidates-honorary-degrees%2F&rft.pub=The+New+School&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook" class="Z3988" /></li>

<li id="cite_note-sheff-16">
</li><div class="reflist" style="list-style-type: decimal;"><ol class="references"><li value="16" id="cite_note-sheff-16"> <cite class="citation web">The University of Sheffield (2012). <a rel="nofollow" class="external text" href="http://www.sheffield.ac.uk/news/nr/abc-martin-fry-honorary-degree-ceremonies-1.193078">"ABC singer takes centre stage in honorary degree ceremonies"</a>. University of Sheffield. Retrieved 16 April 2013.</cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJeremy+Grantham&rft.au=The+University+of+Sheffield&rft.btitle=ABC+singer+takes+centre+stage+in+honorary+degree+ceremonies&rft.date=2012&rft.genre=unknown&rft_id=http%3A%2F%2Fwww.sheffield.ac.uk%2Fnews%2Fnr%2Fabc-martin-fry-honorary-degree-ceremonies-1.193078&rft.pub=University+of+Sheffield&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook" class="Z3988" /></li></ol>

</div>

<h2>External links</h2>

<ul><li><a rel="nofollow" class="external text" href="http://www.gmo.com">GMO Website</a></li><li><a rel="nofollow" class="external text" href="http://www.nytimes.com/2011/08/14/magazine/can-jeremy-grantham-profit-from-ecological-mayhem.html?pagewanted=all">"Can Jeremy Grantham Profit From Ecological Mayhem?,"</a> The New York Times Magazine, August 11, 2011</li><li><a rel="nofollow" class="external text" href="http://www.businessweek.com/magazine/content/02_11/b3774101.htm">Where This Bear Is Putting His Honey</a> Bloomberg Businessweek March 18, 2002, Lewis Braham. Retrieved July 26, 2011.</li><li><a rel="nofollow" class="external text" href="http://metcalfinstitute.org/granthamprize/">The Grantham Prize</a></li><li><a rel="nofollow" class="external text" href="http://www.granthamfoundation.org/">The Grantham Foundation</a></li><li><a rel="nofollow" class="external text" href="http://www.gmo.com/websitecontent/JGLetterALL_1Q11.pdf">Time to Wake Up: Days of Abundant Resources and Falling Prices Are Over Forever</a></li><li><a rel="nofollow" class="external text" href="http://www.guardian.co.uk/environment/blog/2013/apr/15/jeremy-grantham-population-china-climate">Jeremy Grantham on population growth, China and climate sceptics</a> by <a href="https://en.wikipedia.org/wiki/Leo_Hickman" title="Leo Hickman">Leo Hickman</a>, <a href="https://en.wikipedia.org/wiki/The_Guardian" title="The Guardian">The Guardian</a> 15 April 2013</li></ul>

<h2>JG Letter</h2><div id="mw-content-text" dir="ltr" class="mw-content-ltr" lang="en">

<ul><li><a rel="nofollow" class="external text" href="https://docs.google.com/open?id=0B_0zuAvivKRyZ3hKcFk3LUVzYm8">JGLetterALL_1Q11.pdf</a></li></ul>

<ul><li><a rel="nofollow" class="external text" href="https://docs.google.com/open?id=0B_0zuAvivKRycW5CV0VtWHROZEU">The Longest Quarterly Letter Ever-Jeremy Grantham-Feb 2012.pdf</a></li></ul>

</div>

    <div id="catlinks" class="catlinks" data-mw="interface"><div id="mw-normal-catlinks" class="mw-normal-catlinks"><font size="4" face="Times New Roman"><a href="https://en.wikipedia.org/wiki/Help:Category" title="Help:Category">Categories</a>: </font><ul><li><font size="4" face="Times New Roman"><a href="https://en.wikipedia.org/wiki/Category:Living_people" title="Category:Living people">Living people</a></font></li><li><font size="4" face="Times New Roman"><a href="https://en.wikipedia.org/wiki/Category:American_investors" title="Category:American investors">American investors</a></font></li><li><font size="4" face="Times New Roman"><a href="https://en.wikipedia.org/wiki/Category:Alumni_of_the_University_of_Sheffield" title="Category:Alumni of the University of Sheffield">Alumni of the University of Sheffield</a></font></li><li><font size="4" face="Times New Roman"><a href="https://en.wikipedia.org/wiki/Category:Harvard_Business_School_alumni" title="Category:Harvard Business School alumni">Harvard Business School alumni</a></font></li><li><font size="4" face="Times New Roman"><a href="https://en.wikipedia.org/wiki/Category:People_from_Hertfordshire" title="Category:People from Hertfordshire">People from Hertfordshire</a></font></li><li><font size="4" face="Times New Roman"><a href="https://en.wikipedia.org/wiki/Category:People_from_Doncaster" title="Category:People from Doncaster">People from Doncaster</a></font></li></ul></div></div></div><font size="4" face="Times New Roman">===<br /></font><p><font size="4" face="Times New Roman"><b>Asset management</b>, broadly defined, refers to any system that

monitors and maintains things of value to an entity or group. It may

apply to both tangible <a href="https://en.wikipedia.org/wiki/Asset" title="Asset">assets</a> such as buildings and to intangible <a href="https://en.wikipedia.org/wiki/Asset" title="Asset">assets</a> such as human capital, <a href="https://en.wikipedia.org/wiki/Intellectual_property" title="Intellectual property">intellectual property</a>, and <a href="https://en.wikipedia.org/wiki/Goodwill_%28accounting%29" title="Goodwill (accounting)">goodwill</a> and <a href="https://en.wikipedia.org/wiki/Financial_assets" title="Financial assets" class="mw-redirect">financial assets</a>.

Asset management is a systematic process of deploying, operating,

maintaining, upgrading, and disposing of assets cost-effectively.

The term is most commonly used in the financial world to describe

people and companies that manage investments on behalf of others. These

include, for example, <a href="https://en.wikipedia.org/wiki/Investment_management" title="Investment management">investment managers</a> that manage the assets of a <a href="https://en.wikipedia.org/wiki/Pension_fund" title="Pension fund">pension fund</a>.

Alternative views of asset management in the engineering environment

are: the practice of managing assets to achieve the greatest return

(particularly useful for productive assets such as plant and equipment),

and the process of monitoring and maintaining facilities systems, with

the objective of providing the best possible service to users

(appropriate for <a href="https://en.wikipedia.org/wiki/Public_infrastructure" title="Public infrastructure">public infrastructure</a> assets).

<h2>Contents</h2>

</div></div><div id="toc" class="toc">

<ul><li class="toclevel-1 tocsection-1"><a href="https://en.wikipedia.org/wiki/Asset_management#By_industry">1 By industry</a>

<ul><li class="toclevel-2 tocsection-2"><a href="https://en.wikipedia.org/wiki/Asset_management#Financial_asset_management">1.1 Financial asset management</a></li><li class="toclevel-2 tocsection-3"><a href="https://en.wikipedia.org/wiki/Asset_management#Infrastructure_asset_management">1.2 Infrastructure asset management</a></li><li class="toclevel-2 tocsection-4"><a href="https://en.wikipedia.org/wiki/Asset_management#Enterprise_asset_management">1.3 Enterprise asset management</a></li><li class="toclevel-2 tocsection-5"><a href="https://en.wikipedia.org/wiki/Asset_management#Public_asset_management">1.4 Public asset management</a></li></ul>

</li><li class="toclevel-1 tocsection-6"><a href="https://en.wikipedia.org/wiki/Asset_management#See_also">2 See also</a></li><li class="toclevel-1 tocsection-7"><a href="https://en.wikipedia.org/wiki/Asset_management#References">3 References</a></li><li class="toclevel-1 tocsection-8"><a href="https://en.wikipedia.org/wiki/Asset_management#Further_reading">4 Further reading</a></li></ul>

</div>

<h2>By industry</h2>

<h3>Financial asset management</h3>

The most common usage of the term "asset manager" refers to <a href="https://en.wikipedia.org/wiki/Investment_management" title="Investment management">investment management</a>, the sector of the <a href="https://en.wikipedia.org/wiki/Financial_services" title="Financial services">financial services</a> industry that manages <a href="https://en.wikipedia.org/wiki/Investment_fund" title="Investment fund">investment funds</a> and <a href="https://en.wikipedia.org/wiki/Security_segregation" title="Security segregation">segregated client accounts</a>.

An asset management is a part of a financial company which comprises

experts who manage money and handle the investments of clients. From

studying the client's assets to planning and looking after the

investments, all things are looked after by the asset managers.

<h3>Infrastructure asset management</h3>

Infrastructure asset management is the combination of management,

financial, economic, engineering, and other practices applied to

physical assets with the objective of providing the required level of

service in the most cost-effective manner. It includes the management of

the entire lifecycle—including design, construction, commissioning,

operating, maintaining, repairing, modifying, replacing and

decommissioning/disposal—of physical and infrastructure assets.<a href="https://en.wikipedia.org/wiki/Asset_management#cite_note-1">[1]</a>

Operating and sustainment of assets in a constrained budget environment

require a prioritization scheme. As a way of illustration, the recent

development of <a href="https://en.wikipedia.org/wiki/Renewable_energy" title="Renewable energy">renewable energy</a>

has seen the rise of effective asset managers involved in the

management of solar systems (solar park, rooftops and windmills. These

teams are actually more and more teaming-up with financial asset

managers in order to offer turn key solutions to investors.

Infrastructure <a rel="nofollow" class="external text" href="http://www.oddomeriten.eu/">asset management</a>

became very important in most of the developed countries in the 21st

century, since their infrastructure network became almost complete in

the 20th century and they have to manage to operate and maintain them

cost effectively.<a href="https://en.wikipedia.org/wiki/Asset_management#cite_note-2">[2]</a>

<h3>Enterprise asset management</h3>

<a href="https://en.wikipedia.org/wiki/Enterprise_asset_management" title="Enterprise asset management">Enterprise asset management</a>

is the business processes and enabling information systems that support

management of an organization's assets, both physical assets, called

"tangible", and non-physical, "intangible" assets.

<ul><li>Physical asset management: the practice of managing the entire

lifecycle (design, construction, commissioning, operating, maintaining,

repairing, modifying, replacing and decommissioning/disposal) of

physical and infrastructure assets such as structures, production and

service plant, power, water and waste treatment facilities, distribution

networks, transport systems, buildings and other physical assets. It is

related to <a href="https://en.wikipedia.org/wiki/Asset_health_management" title="Asset health management">asset health management</a>.</li><li><a href="https://en.wikipedia.org/wiki/Infrastructure_asset_management" title="Infrastructure asset management">Infrastructure asset management</a> expands on this theme in relation primarily to public sector, <a href="https://en.wikipedia.org/wiki/Utilities" title="Utilities" class="mw-redirect">utilities</a>,

property and transport systems. Additionally, Asset Management can

refer to shaping the future interfaces amongst the human, built, and

natural environments through collaborative and evidence-based decision

processes</li><li><a href="https://en.wikipedia.org/wiki/Fixed_assets_management" title="Fixed assets management">Fixed assets management</a>: an accounting process that seeks to track fixed assets for the purposes of <a href="https://en.wikipedia.org/wiki/Financial_accounting" title="Financial accounting">financial accounting</a></li><li><a href="https://en.wikipedia.org/wiki/IT_asset_management" title="IT asset management">IT asset management</a>:

the set of business practices that join financial, contractual and

inventory functions to support life cycle management and strategic

decision making for the IT environment. This is also one of the

processes defined within <a href="https://en.wikipedia.org/wiki/IT_service_management" title="IT service management">IT service management</a></li><li><a href="https://en.wikipedia.org/wiki/Digital_asset_management" title="Digital asset management">Digital asset management</a>: a form of electronic media content management that includes digital assets</li></ul>

<h3>Public asset management...</h3>
==

recent years, hedge fund manager, Jeremy Grantham, has emerged as one of the <a href="http://www.insidephilanthropy.com/climate-change/2014/1/29/meet-jeremy-grantham-an-emerging-force-in-climate-change-phi.html">biggest new environmental philanthropists</a>.

Along with Hannelore Grantham, he founded the Grantham Foundation for

the Protection of the Environment in 1997 with the mission of protecting

and improving the health of the global environment.

To help give away the foundation's dramatically increasing assets,

Grantham relies on a lone staff member, Ramsay Ravenel, who has been the

Grantham Foundation's Executive Director since 2009. Ravenel handles

grantmaking, endowment management, and all aspects of the foundation.

And, wow, does he have a full plate: The foundation is moving serious

money out the door -- $16.8 million in 2011, the last year we have a 990

for, with giving surely much higher now. They're giving big gifts to

big organizations, but also spreading around lots of smaller grants to

all sort of groups -- and for all sorts of things, from research to

local advocacy to the communications side of environmental battles.

Ravenel is also a Partner at Eastern Sun Capital, the private

investment arm of Jeremy Grantham. Prior to teaming up with Grantham,

Ravenel led the solar energy investing efforts at MissionPoint Capital

Partners, which is an alternate energy private equity fund. He also

originated investments at Marshall Street Management in SunEdison and

EcoSecurities. If there were ever a man who bridged the gap between

finance and environmental sustainability, this is him.

Ravenel got his start with a Bachelor's Degree in Environmental

Science and Public Policy from Harvard and went on to earn Master's

Degrees in Forestry and also Business Administration and Environmental

Studies from Yale. He began his career with a community forest project

in Indonesia and then moved on to work in conservation finance and

timberland investment.

At the Grantham Foundation, Ravenel keeps his focus on climate change, the “<a href="http://www.granthamfoundation.org/">world's primary environmental threat today</a>,”

through communication and collaboration. Although Ravenel is based in

Boston, the reach of the foundation's grantmaking extends to Honduras,

Costa Rica, Bangalore, and beyond.

If you'd like to get a sense of Ravenel's personality off the job, browse through some of his published articles in <a href="http://www.thecrimson.com/writer/7789/Ramsay__Ravenel/">The Harvard Crimson</a>,

which primarily relate to his musical tastes and concert ventures. His

passion for the environment extends well beyond his day job. He and his

wife were credited for having an <a href="https://www.greenbrideguide.com/realgreenweddings/locally-grown-romance">eco-friendly wedding</a> when they tied the knot September 25, 2010 in Somesville, Maine.

Some projects that Ravenel has shown interest in include farm and

forest management, retrofitting buildings for energy efficiency,

building eco-friendly vehicles, and developing non-hydrocarbon-based

power. “There’s an 80-20 overlap between sensible behavior on resource

limitation and sensible behavior on climate change,” <a href="http://www.nytimes.com/2011/08/14/magazine/can-jeremy-grantham-profit-from-ecological-mayhem.html?pagewanted=all&_r=0">Ravenel told the New York Times</a>.

“A lot of his [Grantham's] audience isn’t that receptive to messaging

on the world’s environment going to hell, but they are receptive to

resource limitation.”

The Grantham Foundation only reviews grant proposals by invitation

only. However, Ravenel can be reached directly with questions at

617-880-8941 or by email at <a href="mailto:rravenel@granthamfoundation.org">rravenel@granthamfoundation.org</a>.
==
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