BP Foundation Awards $7.5 Million to Stanford Program

20 June 2007

The BP Foundation has awarded a five-year, $7.5 million grant to Stanford University’s Program on Energy and Sustainable Development to support research on modern energy markets.

The gift follows the BP Foundation’s initial grant of $1.8 million over three years, which was pledged in 2004 in support of the program. The program’s other major sponsor is the Electric Power Research Institute in Palo Alto, California.

The Program on Energy and Sustainable Development, part of the Freeman Spogli Institute for International Studies, concentrates on the legal, political and institutional dimensions of how societies derive value from energy. The BP Foundation grant is part of a rapid expansion of Stanford’s research and teaching on energy issues, much of which focuses on the technical aspects of energy systems.

All of the program’s research is public and published openly, including on its website (http://pesd.stanford.edu/). The gift from the BP Foundation, as well as all similar gifts to support the program’s research, includes special provisions that assure the research program’s independence in setting its research agenda.

The agreement with Stanford is one in a series of BP partnerships with universities in the United Kingdom, the United States and China, representing a total commitment of more than $600 million. The program at Stanford complements work on similar topics at Princeton University, Tsinghua University and Imperial College, among others.