Sustainable Development Innovation Mechanism Boosted by the Belt and Road Initiative (BRI)

On September 21, 2021, at the General Debate of the 76th Session of the United Nations General Assembly, Chinese President Xi Jinping announced that China will step up support for other developing countries in developing green and low-carbon energy and will not build new coal-fired power projects abroad. Since then, renewable energy has become a key area in promoting the green development of the Belt and Road Initiative (BRI). Marking the 10th anniversary of the Belt and Road Initiative (BRI), the year of 2023 ushers in a new phase and major opportunities for the development and cooperation of green BRI.

Based on our previous studies, this report will 1) review and summarize China’s renewable energy development experience in terms of policies and practices, 2) lay out and discuss the basis and inspiration for renewable energy cooperation in key BRI participating regions, 3) propose the best practices and cooperation demands for the sustainable financing of green and low-carbon BRI development, and 4) map out the overall cooperation mechanism for green BRI. Through these efforts, this study proposes relevant policy recommendations for the innovation mechanism of green BRI.

Task Force: Low-Carbon and Inclusive Transition Topic: Trade, International Cooperation, and South-South Partnerships Year: 2023 Phase: Phase VII (2022-2027) Concluded