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Illustration by Chen Xia/Global Times
While working in China for Goldman Sachs years ago, I discovered that the Chinese word crisis is made up of two distinct characters. One denotes danger and the other a turning-point or opportunity. We all know the dangers of climate crisis. The physical effects of climate changes on global infrastructure, supply chain, food systems, asset values, labor productivity, and economic growth are all becoming more apparent to business and government leaders.
The Paulson Prize For Sustainability’s main objective is to find the turning points, the opportunities and the scalable ideas that can make our world more resilient and stronger with sustainable solutions, as we transition to a low-carbon economy.
Leaders in industry, investment firms, mayors, and leaders in government are all focused on creating energy transition solutions. They are aware that their growth strategies must embrace a sustainable future. They all want their country to be a leader of the global decarbonization effort. They realize that we are at the beginning of the most significant economic transformation in human history. A transformation that will change how electricity is generated and provide affordable, reliable and zero-carbon energy solutions.
We will alter the way we produce products of all kinds, including cement, aluminum, and steel, as well as chemicals and other difficult to abate industries. We will make changes to how we grow our food to feed a growing global population of 10 billion people by 2050. We will change the way we travel. Not just electric cars but sustainable aviation fuels as well as hydrogen for heavy trucks, and maritime ships. We will adapt to a warmer planet by changing how we stay warm and cool.
Hank Paulson said that the climate crisis is both a challenge and an opportunity for our generation. The Paulson Prize for Sustainability is all in the pursuit of opportunities.
The Paulson Prize for Sustainability offers a unique opportunity for leaders in green innovation from both the public and private sectors to be recognized at both national and global levels. The winners will join a distinguished group of past prize winners who are taking the best approach to China’s sustainability problems. The Paulson Prize for Sustainability offers a unique opportunity for projects to not only receive a prestigious prize, but also raise their profile with potential partners, new investors and customers. We are at a crucial time in the transition towards a low carbon economy. Technology, capital and policy must all work together to support growth in green industries and initiatives at significant speed.
The article was compiled from Tracy R. Wolstencroft’s speech at Friday’s launch event of Paulson Prize for Sustainability 2022. She is co-chair of jury committee for the Paulson Prize for Sustainability. [email protected]
