CHICAGO, Oct. 17 (Xinhua) -- U.S. Paulson Institute on Wednesday signed a strategic cooperation agreement with the Center for Finance and Development of the National Institute of Financial Research at China's Tsinghua University with regard to green finance.
In a news release posted on its website, the Paulson Institute said the agreement prioritizes four areas of focus to help advance China's transition to a low carbon economy: conducting policy research on the G20 sustainable development; exploring innovative financial instruments and products and developing pilot projects in key areas of China's green finance development; building capacity with a focus on green finance knowledge sharing and dissemination of best practices for officials, regulators, and financial institutions; and convening high-level events to raise awareness and facilitate dialogues on the topics of green finance between China, the U.S., and global stakeholders.
"China has made green finance a top priority and the impact of this effort is starting to be seen in China's transition to a low carbon economy," said Deborah Lehr, vice chairman of the Paulson Institute.
"The Paulson Institute is pleased to be partnering with The Tsinghua Center for Finance and Development to explore innovative measures for using market mechanisms and transparent, high quality standards to promote green development in China and abroad," Lehr said.
The G20 has successfully mainstreamed the concept of green finance among global leaders, and demand for green financial research and capacity building is now growing exponentially, said Ma Jun, director of Tsinghua Center for Finance and Development, who also co-chairs G20 Sustainable Finance Study Group.
In the past two years, the Paulson Institute's Green Finance Center and the Tsinghua Center for Finance and Development have brought together policy makers and specialists to convene high-level roundtable discussions on the development of China's national carbon market, application of financial technology for sustainable development, and various other topics.
The Paulson Institute is a non-profit think tank founded by U.S. 74th Secretary of the Treasury Henry M. Paulson Jr. in 2011 to strengthen U.S.-China relations and advance sustainable economic growth and environmental protection in both countries.
Tsinghua Center for Finance and Development is dedicated to studying practical issues related to macro-economy and finance and to providing recommendations for economic and financial policy makers.