Climate change donation for LSE

The LSE will bring experts together to draft policy relevant research

An American philanthropist has donated £12m to the London School of Economics (LSE) to create a "world-leading" institute for climate change research.

The institute will be chaired by Lord Stern, author of the Stern Review into climate change published in 2006.

American-based millionaire businessman Jeremy Grantham also gave a similar donation to Imperial College London.

The two universities will now work to bring together experts to draft "policy-relevant" research.

The LSE, a leading academic centre in social science, will collaborate with the scientific expertise at Imperial College London to conduct research into climate change.

Lord Stern said: "As scientists continue to play their role in analysing the causes and effects of climate change, it is crucial that social scientists take a lead in the building of policy.

"The Grantham Institute will produce high-quality, policy-relevant research, alongside a range of outputs designed to support policy development, raise public awareness and contribute to private-sector strategy formation."

Mr Grantham is chairman and co-founder of multi-billion dollar global investment management company GMO.