Inspired by the Institute for Climate and Sustainable Growth’s approach to balancing the risks of a changing climate with the essential need for human progress, David and Vicki Foley have made a significant gift that helps lay the foundation for the Institute’s work.
“David and Vicki have shown tremendous leadership and dedication to the University of Chicago, and we are thrilled that their passion extends to the Institute’s mission to find solutions to the climate and sustainable growth challenge,” says Michael Greenstone, the Milton Friedman Distinguished Service Professor in Economics and director of the Institute. “We have already greatly benefited from not only this generous gift, but also David’s counsel and wisdom. He is a fellow traveler and friend, and I couldn’t be more excited to work together in the coming years.”
David Foley described what led him to want to contribute to the Institute.
“When it comes to research and discussions on climate and the environment, the one commodity that I find in very short supply is objective, unbiased research, and the University of Chicago—with its reputation for academic inquiry, civil discourse, being apolitical, being rigorous—that credibility is precious,” says Foley. “I think the University is in a very unique position to do the research, engage with industry executives, engage with government officials, with regulators from a position of credibility.”
To help advance this work, the Foleys’ gift supports two endowed professorships, as well as faculty research. This instrumental investment ensures the Institute can attract renowned climate and energy scholars and remain a leader in identifying solutions to the climate and growth challenge.
Additionally, as Co-Chairs of the University of Chicago’s College Parents Council, David and Vicki Foley are committed to enriching the student educational and co-curricular experience. Parents of one University of Chicago alum and a current student, the Foleys have a deep connection to the student experience. The gift will ensure students have access to a comprehensive education, built out of the Chicago Curriculum for Climate and Sustainable Growth, as well as rich opportunities for mentorship and exposure to global experiences.
“Most people in the United States don’t think much about electricity and take for granted that when they plug their iPhone into the wall socket it is going to charge,” says David Foley. “They don’t understand the vast network of physical assets, complex equipment, skilled services and the global supply chain needed to make it all work. When I saw what UChicago was doing to educate students, it’s not just science, it’s not just economics, it’s not just public policy, it’s a bit of everything. I believe that a well-rounded approach will better prepare students who choose to focus in that area and give them a very strong background.”
To bring leading, real-world perspectives to campus, the Foleys’ gift will also support an annual Foley Lecture. The Foley Lecture series will feature discussions with leaders and practitioners in the climate and energy fields. It aims to create a dynamic and intellectually stimulating environment for alumni, friends, and students at UChicago to broaden their knowledge and connect with influential figures shaping the climate landscape.
The inaugural Foley Lecture occurred last spring and featured Dr. Daniel Yergin, the Pulitzer-Prize winning author of “The New Map: Energy, Climate, and the Clash of Nations,” “The Prize,” and “The Quest,” and Vice Chairman of S&P Global. David Foley moderated the discussion, which focused on the profound shifts in the energy and climate landscape over the past decade, shaped by evolving geopolitical dynamics and shifting U.S. political priorities. This discussion included an outlook for global energy markets and the energy transition, the potential rebalancing of priorities toward energy security, and the role of universities in fostering the future energy technologies.
In addition to providing financial support, David Foley serves as Chair of the Institute’s Advisory Group, providing access to a wide range of expertise in the climate and energy field and valuable relationships. As the Global Head of Blackstone Energy Transition Partners, Foley is responsible for overseeing Blackstone’s private equity investment activities in the energy sector on a global basis, backing entrepreneurial management teams with equity capital to build leading energy companies, thereby delivering more reliable, affordable and cleaner energy to help meet growing demand. Since joining Blackstone in 1995, Foley has been responsible for building the Blackstone energy practice and has played an integral role in every energy-related private equity deal that the firm has made.