Green BRI Reality or Mirage

Analytics 11:00 01.12.2021
Eurasia Diary presents an article titled " Green BRI: Reality and Mirage" published in Pakistan Observer. 
 
Article was written by Mahmood Ul Hasan Khan, expert on the geopolitical and regional studies. 
 
One Belt One Road Initiative (BRI) is making difference in the regional as well as at the global level in terms of greater regional connectivity, socio-economic integration, infrastructural development, poverty eradication and new job generation in all the participating countries. It has become global “engine” of economic stability and future “sustainability”.
 
At its eight year there are lots of speculations and propaganda going on in the US and the West about BRI strategic importance, utility, performance, productivity and participatory orientation.
Many western think tanks and media outlets dubbed the BRI as extension of so-called Chinese economic domination, political imperialism and last but notthe least, debt traps etc which is not true.
 
Unfortunately, the forces and supporters of “capitalism having inbuilt qualities of “economic coercion”, “market exploitation”, “political nationalism” and last but not the least, strategic hegemonic designs/conditions have devised new book of “Das Capital” by “opposing” and “containing” China through fake and false propaganda against BRI. Now they try to create doubts about BRI green orientations and term it mirage not reality.
 
On the other hand, the most recently published report of the China State Council (September 2021) entitled, ‘Responding to Climate Change’, projects Chinese achievements on pollution controls, structural policies to discard coal energy production and consequently moving away from coal, CO2 reductions and building a ‘Belt and Road South-South Cooperation Initiative’ finalized specifically to tackle climate change and slow down the warming of the planet. Hopefully, China’s strong commitment and striving hard spirit to a greener and more sustainable BRI will help tackle global climate change challenges.
 
According to this report, China also plans to create a Belt and Road Energy Partnership (BREP). It states that China is working with relevant countries to facilitate actions on “ecological conservation” and climate change. So Green BRI is reality not mirage. Furthermore, numerous projects of the original BRI have already been transformed into greening which will all come under the sustainability principles enshrined in the 2021 partnership for green development.
 
The said report upholds that in 2021, China and 28 other countries launched the Initiative for Belt and Road Partnership on Green Development which vividly reflected that climate change could be managed through concrete actions guided by the principles of equity and common but differentiated responsibilities and respective capabilities, weighted against different national circumstances.
 
Interestingly, the full report was published just days before the COP26 UN climate summit in Glasgow, indicates China’s sincere efforts to cut emissions and gradually moving away from coal by using sustainable technology in everything from city planning to protect biodiversity.
 
In this context, China instruments its holistic approach to global climate governance through building a green silk road. It promotes green development and is working with relevant partners to build a green silk road. It values an active response to the challenges of climate change and urges for closer results-oriented cooperation in implementing the Paris Agreement and in other areas.
 
According to this report, China’s balance of green loans amounted to RMB11.95 trillion ($1.9 trillion), of which the clean energy loan balance was RMB3.2 trillion ($500 billion) on December 31, 2020.
China has issued a total of about RMB1.2 trillion of green bonds ($188 billion), with roughly RMB800 billion ($125 billion) outstanding, making it the world’s second-biggest green bond market which clearly illustrates it strong commitment towards green BRI in the days to come.
 
The new Chinese guidelines are soft law which have already sent a clear signal to all the main stakeholders, policy makers and financial institutes like China Development Bank, China Export-Import Bank and Sinosure, China’s export credit insurance agency to invest in green BRI projects. This policy gives a boost to their efforts to go green and helps set their expectations that stricter measures are likely to follow.
 
In addition to this China’s carbon intensity in 2020 was 18.8 per cent lower than that in 2015, a better result than the binding target set in the 13th Five-year Plan (2016-2020). The figure was also 48.4 per cent less than that in 2005, which means that China had more than fulfilled its commitment to the international community to achieve a 40-45 per cent reduction in carbon intensity from the 2005 level by 2020.
 
Non-fossil energy contributed 15.9 per cent to China’s total energy consumption in 2020, a significant increase of 8.5 percentage points compared with 2005.
 
The total installed capacity of non-fossil energy power generation in China reached 980 million kW, accounting for 44.7 per cent of total installed capacity, according to the report.
 
Of that, wind represented 280 million kW, PV 250 million kW, hydro 370 million kW, biomass 29.52 million kW and nuclear power 49.89 million kW. Electricity generated by non-fossil energy represented more than one third of the power consumption of the country.
 
The State Council report shares that climate change is a challenge for all of humanity. The sustainable development of the Chinese nation and the future of the planet depend on tackling it successfully.
 
In 2013, President Xi Jinping unveiled the BRI. Some 165 countries and 32 international organisations, including 19 UN agencies, have since signed Belt and Road cooperation documents with China.
 
China now pursues a philosophy that development must be innovative, coordinated, green, open and shared, and accelerates the pace in creating a new development dynamic.
 
Most recently, the “Green Development Guidelines for Overseas Investment and Cooperation”, issued jointly by the Ministry of Commerce (MOFCOM) and the Ministry of Ecology and Environment (MEE), supports Chinese businesses to integrate green development throughout the overseas investment process. They both also suggest that companies should follow international green rules and standards.
 
Thus they represent a gradual moving from coal production that could pave the way for the implementation of much higher standards in infrastructure projects under the BRI.
 
The guidelines call for strengthening engagement with host country environmental protection organisations. They also name non-fossil energy technologies as key areas for investment. Thus green BRI is reality not mirage as dubbed by the US and the West.
 
The guidelines are comprehensive, covering climate, biodiversity and pollution. Specifically, they urge to foster the “green development concept” throughout the entire process of foreign direct investment and cooperation.
 
They encourage the practice of environmental impact assessments and due diligence in accordance with internationally accepted standards.
 
They are ready to apply high standards at the planning and design phase of infrastructure projects and strengthen contact with host country governments, media, local people and environmental protection organisations and last but not the least, support investment in solar, wind, nuclear and biomass energy and other forms of clean energy.
 
To conclude, there is an urgent need to even rectify imbalance of energy production mechanism in the CPEC too. More investment should be made in green energy projects, especially in hydropower, wind, solar and biomass.
IEPF issued a statement regarding Azerbaijani children at the UN Human Rights Council

News line

WB allocates $2M for preparation of sustainable development project in Baku
22:00 02.07.2025
Malaysia inviting Azerbaijan to participate in trade incentive program
21:45 02.07.2025
Malaysia expects further expansion of palm oil trade with Azerbaijan
21:30 02.07.2025
EBRD updates current portfolio of projects in Azerbaijan
21:30 02.07.2025
12 Georgian MPs lose parliamentary mandates
21:00 02.07.2025
Asan Jakishev: Kazakhstan strengthens status as key transit hub in region
20:40 02.07.2025
Zakharova: 'We call on Baku to take measures to return ties to level of strategic alliance'
20:30 02.07.2025
Kyrgyz ambassador to Azerbaijan also appointed as envoy to Georgia
20:20 02.07.2025
Bangladesh court sentences ex-Premier Hasina in contempt case; first conviction since ouster
20:00 02.07.2025
Russia says reduction or cessation of Western arms supplies to Ukraine brings conflict closer to its end
19:45 02.07.2025
Israeli prosecution cancels Netanyahu’s corruption trial sessions next week over US visit
19:30 02.07.2025
Mamasadyk Bakirov: Kyrgyzstan creates all necessary conditions for business
19:15 02.07.2025
Lachin holds panel session on Role of Women in Urban Development
19:00 02.07.2025
Central banks of Azerbaijan, Georgia mull implementation of systems supported by AI
18:45 02.07.2025
Azerbaijani military personnel participate in International Anatolian Eagle-2025
18:30 02.07.2025
Shavkat Mirziyoyev to open Uzbekistan park in Baku
18:15 02.07.2025
Peskov: Head of Russia's Investigative Committee, Azerbaijan's prosecutor general mull problematic issues
18:00 02.07.2025
South Korean ex-premier, minister summoned over Yoon’s martial law probe
17:45 02.07.2025
Trump says Israel has agreed to 'necessary conditions' to finalize 60-day ceasefire in Gaza
17:30 02.07.2025
DR Congo-Rwanda peace deal ‘does not address serious crimes committed in the east': Amnesty International
17:15 02.07.2025
China again urges its citizens to avoid travel to Iran
17:00 02.07.2025
Australia's Qantas says 6 million customer accounts accessed in cyber hack
16:45 02.07.2025
US accuses UN expert of ‘economic warfare’ over report on companies aiding Israeli occupation
16:30 02.07.2025
150 National Guard troops reassigned from Los Angeles security mission to wildfire response
16:00 02.07.2025
Israeli strikes kill another 29 Palestinians in Gaza Strip
15:45 02.07.2025
Revenue of China’s software industry grows by 11.2%
15:30 02.07.2025
President of Azerbaijan Ilham Aliyev’s one-on-one meeting with President of Uzbekistan Shavkat Mirziyoyev begins
15:20 02.07.2025
Zakharova: Friendly relations between Russia, Azerbaijan extremely important
15:15 02.07.2025
President of Northern Cyprus arrives in Azerbaijan
15:00 02.07.2025
COP29 president: US withdrawal from Paris agreement won't stop global climate movement
14:45 02.07.2025
President of Uzbekistan arrives in Azerbaijan on state visit
14:30 02.07.2025
Saudi Arabia receives written message from Iran
14:15 02.07.2025
Percentage of female students studying in Azerbaijan revealed
14:00 02.07.2025
Five of Russia's neighbors withdraw from Ottawa Treaty
13:45 02.07.2025
Bahar Muradova: Azerbaijan ready to share experience in expanding women's economic rights
13:30 02.07.2025
Prosecutor General's Office: Ziyaddin Safarov died in vehicle of Russian law enforcement agencies
13:15 02.07.2025
Adviser to Uzbek FM: Relations with Azerbaijan demonstrating steady growth in all areas
13:00 02.07.2025
ECO: Significant steps should be taken to increase women's digital skills
12:45 02.07.2025
Some Russian groups want to create crisis in relations with Azerbaijan
12:30 02.07.2025
Israel-Iran ceasefire set to drive oil prices toward $60 range: Experts
12:15 02.07.2025
Hamısı