BP & Ford Fund Greenhouse Gas Mitigation Study
EW YORK, New York, October 30, 2000 (ENS) - Sir John Browne, BP Group chief executive, and Princeton president Harold Shapiro announced last week that BP is providing Princeton University with a 10 year, $15 million grant to study methods of mitigating carbon dioxide emissions from combustion of fossil fuels. It is the largest corporate grant Princeton University has ever received. "BP's commitment to the environment is demonstrated by our financial commitment to research, which will ensure cleaner energy in the future," said Browne. "The partnerships we are forming with top universities will provide us with the greatest scientific research on environmentally sound energy use."
Shapiro also announced that the Ford Motor Company will be providing $5 million for the project. This is part of an emerging partnership between BP and Ford to address climate change concerns. "This farsighted grant from BP to launch the Carbon Mitigation Initiative is the largest single corporate commitment in Princeton's history. Over the next ten years it will engage a large and diverse group of Princeton scientists and students who will focus their research on the impact of excess carbon on our environment," said Shapiro. "I am doubly pleased that the Ford Motor Company has joined with us and BP, affirming both the critical importance of reducing carbon and the need to combine resources to achieve it." The Princeton grant will fund research in three key areas: capturing carbon before and after use to achieve sharp reductions in the amount released into the atmosphere; determining where to put carbon after it has been captured; and understanding carbon's interaction with the environment over a wide range of time periods extending to hundreds of thousands of years.
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