The 1% Give Donation To Solve Climate Change?

Photo: Forbes

CEO Stewart Resnick and Lynda Resnick (his wife) have given an incredibly generous gift to Caltech to solve climate change.  Do they actually expect a solution?  Probably not.  Although a lot of research can be funded with $750 million big ones -- yes, you saw the numbers correctly -- a donation of $750 million. Wow!



Here is an excerpt from a Los Angeles Times article:

The gift comes amid growing alarm over climate change and the Trump administration’s rejection of established science. Students marched around the world less than a week ago, coinciding with the U.N. climate conference, to protest what they view as a lack of action to rein in greenhouse gas emissions. States such as California are weighing proposals to phase out single-use plastics containers used by many food and drink manufacturers.

The Resnicks have forged one of the nation’s great farm empires even as drought and extreme weather linked to global warming thwarted many of their competitors. Their vast fields of fruit and nut trees in the Central Valley feed a variety of consumer brands, including Halos mandarin oranges and the pomegranate juice Pom Wonderful. They also produce Fiji Water, wine from Justin Vineyards and operate the florist delivery service Teleflora.

Caltech agreed with Resnick’s assessment that the gift would be “transformational.” The university said the donation would be used to study solar science, climate science, energy, biofuels, decomposable plastics, water and environmental resources, and ecology and biosphere engineering. The school plans to build a $100-million “sustainability research institute” named for the family. It is the largest donation the institution has received and the largest given to any university for environmental research.

The author in the article cited above, also states that Stewart Resnick was hassled by his grandchildren for not 'doing anything to solve the problem.'   Given the fact that the Resnick family has thrown money toward solving all sorts of other problems, the gift is not entirely surprising.  Stewart and Lynda Resnick have made their fortune from the agricultural business across California.



The changes felt from climate change have directly impacted the Resnick's business empire.  Which is another impetus for the donation?  Donations like the one above are not isolated, but certainly welcome.  Traditionally, the view is to hold onto a fortune.  In the case of the Resnick family, wealth is being put to good use.  Especially if the solutions help businesses like the Resnick family business, which is directly impacted by the ever-changing effects of climate change.



We should be thankful to families such as the Resnick's who invest in solutions that help all of us out in the end.  The news above is a breath of fresh air.  Science needs additional funding, aside from the government.  Thank you much to the Resnick family for your generous donation.



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