Paulson Institute to Support Beijing’s Sustainable Development with New MOU

Henry M. Paulson, Jr., Chairman of the Paulson Institute, met with Chen Jining, Mayor of Beijing, on April 9, 2019 in Beijing. The parties agreed to enhance their exchange and collaboration in building sustainable cities, capacity building, low-carbon sectors, and green finance.

At the meeting, Mayor Chen said that Beijing, as a megacity, has been dedicated to making the city greener, less carbon-intensive, and more sustainable in recent years. It has taken measures to provide solutions to some of the common problems facing megacities and build a more livable environment with fresh air, blue skies, and clean water. Beijing will insist on being “green,” not only in key construction projects—including the new Beijing Daxing International Airport and the venues for the 2022 Winter Olympic Games—but also through the establishment of a national green finance pilot zone in the administrative sub-center of Tongzhou in coming years. Mayor Chen also welcomed the Paulson Institute as an international think tank, encouraging it to lend support to Beijing’s transition toward a more sustainable growth model.

Mr. Paulson said that the Paulson Institute, as an independent “think and do tank,” operates at the intersection of economics, financial markets, environmental protection, and policy advocacy, in part by promoting balanced and sustainable economic growth. The Institute is ready to contribute to Beijing’s transition to a more sustainable city and its other ambitious goals, including its development as an international exchange center, the development of Tongzhou as the administrative sub-center, and the integrated development of Beijing, Tianjin, and Hebei.

The two sides reached consensus on further collaboration in the following areas:

Capacity building
The Paulson Institute will support Beijing’s efforts to equip senior officials with a global vision, innovation philosophy, sound governance strategies, and advanced management skills, by leveraging PI’s high-end resources in the areas of international exchange, urban sustainability solutions, and elsewhere. In addition, it will encourage the application of advanced concepts and solutions, and select proven management tools, cases, and solutions for city-wide scale-up in the form of demonstration projects.

Green finance
The Paulson Institute’s Green Finance Center will work with relevant departments of the Beijing government to explore ways to facilitate Beijing’s development of an international green finance center.

Paulson Prize for Sustainability
Beijing will actively recommend innovative projects to apply for the Paulson Prize for Sustainability and will explore ways to combine the specialties of winning projects and Beijing’s technical demands, so as to accelerate environment protection, conservation, and green development.

Following the meeting, with Chairman Paulson and Mayor Chen as witnesses, the Paulson Institute Beijing Representative Office and the Foreign Affairs Office of the Beijing Municipal Government signed the Memorandum of Understanding on Cooperation. The two parties will actively expand cooperation in the above-mentioned areas in the coming five years.