China promotes green development under Belt and Road Initiative

Published: October 15,2023

It’s been a decade since China’s Belt and Road global infrastructure and development initiative was launched. Environmental protection has always been a priority in projects under the initiative.

The Belt and Road Initiative (BRI), which consists of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, was initiated by China in 2013 with the aim of enhancing all-around connectivity through infrastructure construction, exploring new driving forces for world economic growth, and building a new platform for world economic cooperation.

Statistics show that China leads the world when it comes to manufacturing clean energy generation facilities for wind and photovoltaic power, while it produces more than 70 percent of the world’s total solar equipment components including polysilicon, wafers, cells and modules. China’s strength in clean energy development provides a strong impetus for advancing the global green transition.

China has carried out green energy cooperation projects with more than 100 countries and regions, and its investment in green and low-carbon energy in BRI partner countries has exceeded its investment in traditional energy projects there.

In a boost for green finance, China’s green financial products have seen rapid growth. By the end of March, the country’s outstanding green loans – loans that fund areas that make contributions to environmental protection and improvement – in yuan and foreign currencies exceeded 25 trillion yuan (about $3.5 trillion), and its outstanding green bonds surpassed 1.5 trillion yuan, both ranking among the top globally. 

For instance, the China-Laos Railway, a flagship BRI project, avoided going through six natural and cultural protection areas and avoided occupying national-level protected forests in Laos. The total greening area along the whole line is over 3 million square meters.

Meanwhile, many passages and bridges along the Mombasa-Nairobi railway, another key BRI project, were set up to ensure the free movement of wildlife. Such railway projects significantly reduce carbon dioxide emissions compared with truck transport.

In the coming decade, with its advantages in the field of renewable energy, China is poised to provide further important support and impetus for low-carbon transformation in BRI participating countries.

Internationally, promoting green development under the BRI is in line with China’s aspiration to contribute to building a clean and beautiful world. 

cgtn.com