Home Economy Woods Hole Oceanographic Institution gets $25M gift

Woods Hole Oceanographic Institution gets $25M gift

By

PBN Staff

-

02/02/2024

Woods Hole Oceanographic Institution — THE WOODS HOLE Oceanographic Institution recently received a $25 million gift from Paul Salem, chairman of the institution's board of trustees, to accelerate the search for ocean-based climate solutions.

WOODS HOLE, Mass. – The Woods Hole Oceanographic Institution recently received a $25 million gift from Paul Salem, chairman of the institute’s board of trustees, to accelerate the search for ocean-based climate solutions. “I am very pleased that my commitment will accelerate efforts by WHOI to improve humanity’s vital understanding of the ocean,” Salem said.

Already a Subscriber? Log in

To Continue Reading This Article

Become a Providence Business News subscriber and get immediate access to all of our premier content and much more.

Learn More and Become a Subscriber

Critical RI business news and analysis updated daily.
1 year of print (26 issues).
Unlimited access to all subscriber only content on our website, on any device.
Free email alerts.
Annual Book of Lists Print Edition.
All special issues produced during subscription term.

Click Here to purchase a paywall bypass link for this article

PBN Branded Content

Rhode Island small business sees significant annual energy savings

The Rhode Island Energy Small Business Program offers significant incentives to property owners for comprehensive…

Learn More

LEAVE A REPLY Cancel reply

WOODS HOLE, Mass. – The Woods Hole Oceanographic Institution recently received a $25 million gift from Paul Salem, chairman of the institute's board of trustees, to accelerate the search for ocean-based climate solutions. “I am very pleased that my commitment will accelerate efforts by WHOI to improve humanity’s vital understanding of the ocean,” Salem said. “More than two-thirds of our planet is ocean, and so if we want to solve climate change, we must invest in innovative ocean-based solutions that give us more eyes in the ocean in order to help us meet this generational challenge. WHOI is uniquely positioned to play a leading role in efforts to do exactly this.” Salem’s gift along with recent funding from the U.S. Department of Energy and the National Oceanographic Partnership Program, as well as gifts from individuals, foundations and corporations, will support a growing ecosystem of fundamental and applied scientific research and engineering development at WHOI. These build on existing capabilities such as the National Science Foundation-funded Ocean Observatories Initiative and the international Argo network of autonomous profiling floats. The funding from Salem, NOPP, DOE and other sources will expand existing programs, in part by supporting investigations of new marine carbon dioxide removal projects, including ocean alkalinity enhancement and ocean iron fertilization, and by building networks that incorporate machine learning, artificial intelligence and data systems to track and verify these efforts. “There is a tidal wave of “blue carbon” solutions to climate change on the horizon, some proven, but most completely novel and in need of testing to investigate their safety and effectiveness,” said WHOI President and Director Peter de Menocal. “The ocean can help us avert a climate crisis, but we need to also ensure the long-term health of marine ecosystems and the communities that rely on ocean resources. This far-sighted gift will help us stay ahead of what is already a billion-dollar industry and inject some much-needed reality into the carbon market.” Generated by recent gifts and grants, WHOI has raised more than $85 million for ocean and climate research. The focus of the organization’s efforts is the advancement of environmental monitoring, reporting and verification capabilities to keep pace with a booming market for carbon credits, some of which rely on carbon capture by the ocean. “We urgently need the science to ensure this can be done safely at scale,” de Menocal said. “We’re humbled by the generosity and foresight of Paul’s gift, and grateful for all the support we’ve received to ensure that science will lead the race for solutions to our global climate crisis.”