Reinvigorating the Green Belt and Road to Contribute to Global Carbon Neutrality

Abstract

In the past eight years, considerable progress has been made in green development of the Belt and Road Initiative. In the context of global carbon neutrality goals and the associated green development consensus, the green BRI, nevertheless, faces multiple challenges: diverse development models and low ecological capacity in most partner countries; negative environmental impact such as greenhouse gas emissions and biodiversity loss caused by large-scale infrastructure construction; room for improvement in China’s green investment rules and environmental governance capabilities; financing difficulties for Chinese overseas green projects; as well as increased competition and constraints from the United States and some Western countries. The significance of the green Belt and Road should be recognized from the lens of the great rejuvenation of the Chinese nation and the community with a shared future for mankind. Green Belt and Road rules should harmonize with international standards. Green investment, green trade, green finance, and green technologies should be promoted. At the same time, green cooperation between enterprises and financial institutions should be intensified. In addition, green development knowledge sharing and environmental governance of BRI countries should be enhanced.