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SPS 6: Green Belt and Road Initiative (BRI) and 2030 SDGS

Building on the recommendations of the CCICED Green BRI report, as well as September 2021 theĀ  announcement by President XI that China will discontinue all international financing of coal, the Chief Advisors suggest the following issues that the SPS may wish to consider in its work:

  • Identify ways to increase BRI financing of renewable energy systems in key countries, using the COP 26 outcomes and updated NDCs as a key guide to bolster BRI clean energy financing;
  • Identify the institutional norms, due-diligence practices, traffic-light system, external consultation mechanisms needed to advance the financing of green BRI projects, and to discontinue carbon-intensive energy project finance;
  • Identify wider options for the green BRI to build bilateral, regional and international cooperation in ways that align BRI goals with the Paris
    Agreement, the Kunming Declaration and Global Biodiversity Framework, and the Sustainable Development Goals

Track 2 dialogue can include engaging other development banks and selective commercial banks, asset managers, pension funds and others in green financing; and examine emerging issues like aligning emerging sovereign debt with climate and nature goals.

Task Force: Innovation, Sustainable Production and Consumption Topic: - Year: 2021 Phase: Phase VI (2017-2021) Active