Green is the distinctive background of high-quality joint construction of the "Belt and Road". General Secretary Xi Jinping pointed out that jointly building the "Belt and Road" means building an open development path, and it must also be a green development path. Over the years, my country and the co-construction countries have worked together to promote green, low-carbon and sustainable development, and continue to deepen cooperation in the fields of green infrastructure, green energy, green transportation, etc. However, the joint construction of the "Belt and Road" green development still faces many risks and challenges, the constraints on responding to climate change are more stringent, and the level of international cooperation in ecological and environmental protection needs to be improved. How to better promote the construction of a green "Belt and Road"? This issue invites experts to discuss related issues.

Deeply tap the potential of green cooperation to stimulate new momentum

In recent years, how can my country integrate the concept of green development into the process of jointly building the "Belt and Road" and work with the countries jointly building to promote green, low-carbon and sustainable development?

Chen Gang (Secretary-General of the International Alliance for Green Development of the Belt and Road): At present, global ecological crises such as climate change, biodiversity loss and environmental pollution are threatening the future of mankind, and green development has become the goal that countries are concerned about and strive to pursue. Countries jointly building the "Belt and Road" generally face the contradiction between ecological fragility and economic development. Global climate change has led to frequent extreme weather such as high temperatures, droughts, heavy rainfall, floods, etc., agricultural production and water supply are facing challenges, and energy structure optimization urgently requires policy and technical support. The construction of the green "Belt and Road" provides strong support for jointly building countries to co-confront environmental and development challenges and achieve green and low-carbon transformation, and contributes Chinese wisdom to jointly building a clean and beautiful world.

Since the pioneering proposal of jointly building the "Belt and Road" initiative in 2013, General Secretary Xi Jinping has made a series of important statements such as "increasing efforts in ecological and environmental protection and working together to build the 'Green Silk Road'", "taking green as the background color, promoting green infrastructure construction, green investment, and green finance, and protecting the common home on which we rely for survival", "further build a three-dimensional interconnected network, leading the Green Silk Road, and empowering the Digital Silk Road". The construction of the green "Belt and Road" has achieved the transformation from conceptual vision to pragmatic actions, and then to high-quality development.

In 2015, the National Development and Reform Commission and other departments issued the "Vision and Action to Promote the Joint Construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road", which clearly proposed "strengthening the construction and operation management of green and low-carbon infrastructure" and "highlighting the concept of ecological civilization in investment and trade, strengthening cooperation in ecological environment, biodiversity and climate change response, and jointly building the Green Silk Road." Since then, many important guiding documents such as the "Belt and Road Ecological Environmental Protection Cooperation Plan" and the "Opinions on Promoting the Green Development of the Joint Construction of the Belt and Road" have been released one after another, clarifying the overall ideas, specific planning goals and key tasks of the construction of the green "Belt and Road", and drawing a timetable and roadmap for promoting the construction of the green "Belt and Road".

In recent years, my country has promoted the implementation of a number of green development projects, and these major projects have become important green symbols for jointly building the "Belt and Road" and have won wide praise from the international community. In Indonesia, the Jakarta-Bandung High-speed Railway Project, which my country participated in the construction, is expected to reduce carbon emissions by about 330,000 tons. In Kenya, the Mombasa-Nairobi Railway, which was built by our country, always practices environmental protection concepts with strict standards during the construction and operation process, minimizing the project's interference to wildlife habitats. As Kenyatta, then President of Kenya, said, "The Mombasa-Nairobi Railway not only writes history, but also the future of harmonious coexistence between mankind and nature." In Ghana, Chinese enterprises established a "turtle breeding center" when building the new container terminal of Tema Port, providing a good breeding environment for locally unique little sea turtles, significantly improving the hatching rate of sea turtles, and practicing the development concept of harmonious coexistence between man and nature.

The joint construction of the green "Belt and Road" has built an important platform for southern countries around the world to ride the express train of China's development and achieve green and low-carbon development. According to incomplete statistics, since 2016, my country has provided and mobilized more than 177 billion yuan in climate change-related funds to other developing countries, not only supporting the vast number of developing countries to promote clean and efficient use of energy, improve their ability to adapt to climate change and promote ecological and environmental protection, but also provide support for improving local people's livelihood and improving people's well-being. The "new three" products represented by new energy vehicles, lithium batteries and photovoltaic products are not only popular in the market for jointly building the "Belt and Road" countries, but also drive the green transformation of industries in various countries. my country's wind power and photovoltaic products cover more than 200 countries and regions, enriching global supply and making positive contributions to energy transformation and maintaining the stability of the global energy market.

Facing the 15th Five-Year Plan period, we need to adhere to the strategic determination of green and low-carbon development, seize the opportunities of a new round of scientific and technological revolution and industrial transformation, deeply tap the potential of green cooperation, stimulate new momentum for economic growth, and provide support for promoting the high-quality development of the joint construction of the "Belt and Road". Focus on responding to global climate change and promoting green and low-carbon transformation, take key areas such as green energy, green transportation, and green finance as the entry point, promote the development and utilization of clean energy such as solar energy and wind energy, guide more funds to invest in green projects, support energy conservation, emission reduction and environmental protection technology development, and share China's green and low-carbon development experience for countries jointly building the "Belt and Road" countries. To achieve the green development of the joint construction of the "Belt and Road", it not only requires the guidance of government departments, but also the gathering of the forces of multiple subjects such as social organizations, private groups, scientific research institutions, and enterprises. It is necessary to play the role of multiple subjects, strengthen private diplomacy, explore cross-institutional cooperation, and form a joint force for promotion.

Green transportation "going out" helps reduce pollution and carbon reduction

What are the highlights of my country's cooperation with countries jointly building the "Belt and Road" in the field of green transportation infrastructure construction?

Gong Weiwei (Senior Engineer of China International Center for Sustainable Transportation Innovation and Knowledge): Transportation is the economic context and the link between civilization. The interconnection of transportation infrastructure represented by railways, highways, ports and airports is the focus and pioneering area of the "Belt and Road" cooperation. The transportation industry is one of the key areas of energy consumption and carbon emissions. In 2024, the total global energy-related carbon dioxide emissions will be approximately 37.8 billion tons, and the transportation sector will be approximately 24%. The countries that jointly build the "Belt and Road" are mostly climate-sensitive areas, and ecologically fragile areas include desertified areas in Central Asia and flood-prone areas in Southeast Asia. The transportation infrastructure has the characteristics of large area and complex engineering. Green transportation infrastructure can significantly reduce regional carbon emissions and reduce its impact on the ecological environment by promoting renewable energy and applying low-carbon transportation technology. my country has the technological and production capacity advantages in the field of new energy, and "going out" through green transportation infrastructure can form new economic growth points.

In recent years, the level of interconnection and trade efficiency of transportation infrastructure in countries and regions jointly built the "Belt and Road" has been continuously improved. While promoting the development of regional economic integration, it has promoted the coordinated efficiency of pollution reduction and carbon reduction, and the harmonious development of transportation and nature.

When jointly building railways, highways, ports and other transportation infrastructure projects in the "Belt and Road" countries, Chinese enterprises insist on integrating the concept of low-carbon environmental protection throughout the entire process of project planning, construction and operation. The China-Laos Railway has set up exclusive migration channels for Asian elephants, small animal culvert channels and bird "ecological overpasses". In more than three years since its opening, infrared monitoring has shown that the frequency of cross-border activities of Asian elephants has increased significantly compared with before construction, achieving the ecological goal of "railways around the rainforest and animals travel along the passage". At the same time, as an electrified railway, the China-Laos Railway reduces carbon emissions by more than 70% compared to traditional diesel locomotives. During the construction period, the Ethiopian Asian Ring Road Project innovatively adopted all-region new energy facilities, intelligent induction street light systems, and rainwater resource recycling facilities, and carefully designed wildlife ecological corridors to build a replicable new model of green development. Cambodia Siem Reap Angkor International Airport is the first international airport to be implemented by Chinese-funded enterprises overseas in an investment, construction and operation model. It implements the integrated design concept and plans the overall transportation and landscape ecosystems in the airport and surrounding areas. The terminal design follows the traditional local building slope roof form of Cambodia, and innovatively adopts building information model technology, effectively reducing resource and energy consumption, and achieving harmonious coexistence between large-scale transportation infrastructure and tropical ecosystems and cultural heritage. After China Ocean Shipping Group took over, the Port of Piraeus, Greece implemented a green and low-carbon transformation, allowing docked ships to close the diesel generator and connect to the power grid. In 2025, new biofuel services were added for ships to relocate to the port, and has now become one of the largest green ports in the Mediterranean region.

From project demonstration to rule-oriented, my country has achieved remarkable achievements in the promotion and application of green transportation technology. As the first high-speed railway in Southeast Asia, the Jakarta-Bandung High-speed Railway adopts permanent magnet traction motor independently developed by my country, which greatly reduces carbon emissions throughout the life cycle. Its tailor-made EMU adopts an integrated grid-connected power supply system for main and auxiliary power supply, saving energy by more than 30%. In May this year, the China International Center for Sustainable Transportation Innovation and Knowledge, the United Nations Economic and Social Commission for Asia and the Pacific, and Datu proposed to jointly organize a high-level meeting on digitalization of the Asia-Pacific International Railway Transportation, and passed the rail transit standard connectivity plan of neighboring countries, aiming to reduce technical barriers and improve connectivity through coordinated standards and specifications. The plan will serve as the basis for the standard connectivity of rail transit in neighboring countries, and provide support for neighboring countries to formulate specific national rules and standards, and jointly build a safe, convenient, efficient, green, economical, inclusive and resilient global sustainable transportation system.

At present, the construction of green transportation infrastructure still faces some challenges. First, standards differences lead to high coordination costs. There are certain differences in the joint construction of national policies, regulations, environmental protection requirements and technical specifications, and project approval must be adapted to multi-national rules. Cross-border facilities such as the China-Europe freight train green station involve issues such as investment sharing, operational rights and responsibilities, and negotiations between multiple countries are prone to differences in interests. Second, insufficient financial and technological sustainability. Green transportation projects such as low-carbon ports and electric bus systems have the characteristics of large investment in the early stage and long return cycles. Some countries have limited financial capabilities, and social capital has low participation due to long return cycles and difficult risk assessments. Some developing countries lack the ability to apply green technology, and equipment maintenance and system operations rely on external support. Third, there is a problem of localization adaptation. In some areas with complex terrain, such as Southeast Asian rainforests and West Asian deserts, projects may cause ecological controversy, and some countries have weak infrastructure, green facilities such as charging piles may be difficult to function due to insufficient supporting facilities, and differences in cultural customs may also affect the acceptance of projects.

In the future, it is necessary to build a multilateral coordination framework, sign a cooperation agreement with co-construction countries, and incorporate green transportation into the bilateral and multilateral agreements. Through the dual track parallelization of "policy communication project implementation", we ensure that green goals run through the entire cycle of planning, construction and operation. Promote the "multilateral loan market-oriented financing" model, study the establishment of regional green transportation funds to attract multinational enterprises, and simultaneously carry out "technology transfer localization training", cultivate local operation and maintenance teams during construction, and reduce technology dependence. Establish a project risk warning mechanism, give priority to regional promotion of stable political situations and good cooperation foundations, deepen cooperation through "small and beautiful" demonstration projects such as small photovoltaic charging stations, and invite international organizations such as the United Nations Environment Programme to participate in the assessment and strengthen publicity and guidance.

Green and clean energy cooperation has great potential

What is the importance of cooperation in the field of green energy? What practical cooperation achievements have been achieved so far?

Lu Ruquan (Director of the Economic and Technical Research Institute of China Petroleum Group): Green energy cooperation is an important part of the green development of the "Belt and Road" and has become a key area for jointly building countries to promote green and sustainable development and build an open and win-win energy community. In October 2024, at the Third Belt and Road Energy Ministers' Meeting, the "Belt and Road Green Energy Cooperation Action Plan (2024-2029)" was released, providing an action guide for member states of the "Belt and Road" energy partnership to promote green energy cooperation in the next five years.

Green energy cooperation is of great significance to jointly building the green "Belt and Road". Warming is a common challenge facing all mankind. Against the background of frequent global extreme climates and accelerated energy transformation, 151 countries have proposed carbon neutrality targets, covering about 92% of the world's GDP, 89% of the population and 88% of the carbon emissions. Strengthening green energy cooperation will help gather the joint efforts of global sustainable development and climate change. Carry out green energy cooperation with countries jointly building the "Belt and Road" initiative, promote the development and utilization of new energy such as solar energy, wind energy, geothermal energy, etc. in member countries of the energy partnership, as well as investment and technology transfer in new energy equipment manufacturing, will help increase local employment of member countries, reduce poverty, and promote economic growth and green and low-carbon development of cooperative countries. At present, the external environment faced by global international energy cooperation is complex and changeable, and the risks of stable and secure energy supply are increasing. Strengthening green energy cooperation, promoting countries along the route to optimize their energy structure, reducing their dependence on fossil fuels, and driving my country's advantageous production capacity and equipment such as electricity and new energy to "go global", which will help build a safer and more resilient global energy industry chain and supply chain.

In recent years, green energy cooperation in jointly building the "Belt and Road" has achieved remarkable results and has achieved many pragmatic results.

The top-level mechanism for international energy cooperation is constantly being improved. my country has established intergovernmental energy cooperation mechanisms with more than 90 countries and regions, and established cooperative relations with more than 30 international energy organizations and multilateral mechanisms. Six regional energy cooperation platforms for China-ASEAN, China-Arsenal and AU, China-Central and Eastern Europe, China-Central and Asian-Pacific Economic Cooperation Organization Sustainable Energy Center have been implemented and effective.

Pragmatic cooperation in the energy field continues to advance. At present, my country has carried out green energy project cooperation with more than 100 countries and regions. In 2024, my country's clean energy investment scale reached US$625 billion, accounting for 1/3 of the world, becoming the "stabilizer" of the global clean energy production and supply chain. By continuously deepening cooperation with renewable energy projects in Asia-Pacific, Middle East, Africa, Latin America and other regions, we will provide a solid resource foundation for promoting the energy transformation and green and low-carbon development of the host country. At the same time, we actively leverage our scale advantages and integration advantages to drive equipment manufacturing, engineering construction, technical services, etc. to "go global". The scale of my country's clean energy industry has gradually expanded, and by 2024, it contributed more than 70% of wind power equipment, lithium batteries, and more than 80% of photovoltaic modules to the world. A number of photovoltaic, wind energy, transmission line and other projects are built in the Middle East, Africa, Latin America and other regions, and the promotion of Chinese solutions such as equipment manufacturing and technical standards has effectively solved the problem of local energy poverty and driven its economic development.

Green finance guarantees international energy cooperation with the United States continue to increase. my country actively cooperates with international financial institutions, supports domestic financial institutions to innovate and expand overseas businesses, and promotes the development of the new energy industry. For example, the Saudi Arabian sovereign wealth fund established joint ventures with three Chinese companies to promote the localized manufacturing of Saudi renewable energy equipment and parts in Saudi Arabia; China Export Credit Insurance Corporation supports China Energy Construction Group to invest in two photovoltaic projects in Uzbekistan, leveraging financing of about 3.3 billion yuan; China Export-Import Bank signed a syndicated loan agreement for photovoltaic and photovoltaic supporting energy storage power stations in the Gulf of Thailand established by the Asian Development Bank to support the development of clean energy in Thailand.

Strengthen international exchanges and cooperation to contribute Chinese wisdom to global energy governance. A series of cooperation mechanisms and platforms such as the "Belt and Road" Energy Cooperation Partnership and the "Belt and Road" Green Energy Cooperation Action Plan have been established one after another, providing action guidelines and institutional guarantees for green energy cooperation among various countries. All countries carry out orderly cooperation under these mechanisms to jointly promote the development of green energy. The Executive Summary of China's Energy Transformation Outlook 2024 was released at the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change, contributing Chinese wisdom and Chinese solutions to global energy governance.

At present, the world is in a period of turbulent and change, and the "Belt and Road" green energy cooperation also faces some difficulties, such as large differences in policies and regulations of the host country, high cost of coordination and communication; inconsistent technical standards; poor compatibility of systems and equipment; insufficient investment in clean energy and difficult financing; and so on.

Looking ahead, in order to respond to global climate change, achieve the goal of carbon neutrality and promote green and sustainable development, there is great potential for green energy cooperation on the "Belt and Road". First, through deepening policy communication and planning docking, we will steadily promote pragmatic cooperation in clean and low-carbon energy fields such as hydropower, wind energy, photovoltaics, and green hydrogen. The second is to increase the intensity of scientific and technological innovation, promote the application of digital and intelligent technologies in the energy field, and improve the efficiency of energy utilization. The third is to enhance the financial guarantee of green energy cooperation and use green finance to leverage the green transformation of countries jointly building the "Belt and Road" country. Fourth, strengthen talent training and international exchanges to provide intellectual support for green energy cooperation.

Build a sustainable green investment and financing system

How has my country made progress with countries jointly building the "Belt and Road" in carrying out cooperation in the field of green investment and financing and supporting the development of green industries?

Chen Han (Deputy Director and Senior Researcher of the Center for International Cooperation and Development of the Institute of Green Finance, Central University of Finance and Economics): Finance and Finance is an important support for jointly building the "Belt and Road". In recent years, my country has fully utilized the synergistic advantages of policy-oriented, development-oriented, commercial and cooperative finance to build a long-term, stable and sustainable green investment and financing system, injecting continuous financial vitality into the green development of the "Belt and Road". In 2023 alone, the green investment of Chinese enterprises in jointly building the "Belt and Road" countries reached US$22.28 billion, accounting for 44% of the total investment, among which clean transportation and clean energy are key areas, accounting for 40.39% and 15.44% of the total green investment respectively. These green projects not only effectively improve local infrastructure conditions, but also enhance the ability of jointly building countries to respond to climate change, and play an important role in promoting sustainable development of the "Belt and Road" initiative.

my country's financial institutions actively participate in promoting the joint construction of the green "Belt and Road", including policy banks and insurance companies, large state-owned commercial banks, joint-stock commercial banks, commercial insurance companies, as well as international economic cooperation funds such as Silk Road Fund and China-Africa Development Fund. Multilateral Development Bank, Multilateral Climate Fund and international commercial financial institutions have also played a supporting role to provide green financing and technical support for countries jointly building the "Belt and Road". Policy-based financial institutions are the backbone of supporting the high-quality joint construction of the "Belt and Road". In 2023, the China Development Bank and the Export-Import Bank of China respectively promoted the implementation of the "Belt and Road" financing window of RMB 350 billion. China's export credit insurance companies have played their policy-based export credit insurance functions, strengthened the underwriting support for green and low-carbon products, and built a solid risk barrier for green industries to "go overseas" through the integration of multiple insurance types and full-chain services. In 2024, the scale of supporting green trade and projects reached US$60.56 billion.

All types of financial institutions actively promote innovation in green financing tools, expand channels such as loans, equity, and debt, and strengthen financial support for the green projects of the "Belt and Road". First, participate in international syndicated loan business and achieve complementary advantages and sharing risks through cooperation with multilateral development banks. The Zanatas wind power project in Kazakhstan is jointly provided by the Industrial and Commercial Bank of China, the European Bank of Reconstruction and Development, the Asian Infrastructure Investment Bank and the Green Climate Fund, becoming a new overseas investment model for Chinese enterprises to shift from traditional engineering contracting to participating in operational management and joint financing. Secondly, green "Belt and Road" theme bonds have been issued successively, such as "Belt and Road" climate bonds and "Belt and Road" interbank normalized cooperation mechanism green bonds. Foreign governments and financial institutions are also actively participating in my country's green bond market. In 2023, Bank of China assisted the Egyptian government in issuing 3.5 billion yuan of sustainable development panda bonds in my country's domestic market, filling the gap in panda bonds in Africa. Again, in terms of green development assistance, the aid funds provided by the China South-South Cooperation Assistance Fund and multilateral financial institutions have leveraged more green investment through a combination of grants or investment assistance. For example, the Asian Infrastructure Investment Bank plans to borrow $17 billion annually by 2030, more than 50% of it will be used for climate financing, which can drive $50 billion of social capital.

Strengthen environmental and social risk management of investment projects. Improved environmental and climate risk assessment and management is the basis for achieving sustainable development of projects and obtaining green financing. my country has issued policy documents such as "Guidelines for the Green Development of Foreign Investment Cooperation" and "Guidelines for the Ecological Environment Protection of Foreign Investment Cooperation Construction Projects" to promote the green concept to run through the entire process of foreign investment. In 2018, the China-UK Green Finance Working Group jointly issued the "Britain Belt and Road" Green Investment Principles", including the issues of low-carbon and sustainable development into the joint construction of the "Belt and Road" initiative, and promoting the greening of the "Belt and Road" investment. As of now, 53 institutions have signed and participated, becoming an important mechanism for the joint construction of the "Belt and Road" green governance.

Countries in jointly building the "Belt and Road" still face some common challenges in promoting green investment and financing, and urgently need to respond through institutional innovation and mechanism improvement.

First, build unified green finance standards. At present, the world still lacks unified green financial standards that are applicable to the national conditions of developing countries, which restricts the cross-border identification of green projects and the interconnection of green capital markets. In order to promote the comparability, compatibility and consistency of global green finance standards, the People's Bank of China, the General Directorate of the European Commission's Financial Services and Capital Markets Alliance and the Monetary Authority of Singapore jointly compiled the "Multiple-lateral Sustainable Finance Common Classification Catalog". Although the scope of application of this catalog is still limited worldwide, with the participation of more countries and the system running-in, it is expected to become an important basic rule in the field of international green finance, improving the transparency and synergy of green investment and financing.

The second is to explore and innovate investment and financing models. Many small and medium-sized renewable energy projects with development potential need to be supported by flexible and efficient innovative financing models. Enterprises should be encouraged to transform from traditional engineering general contractors to project developers and equity investors, and actively explore mixed financing with "China-led, multilateral development banks and international developers" and financing models for government social capital cooperation. At the same time, innovative debt replacement tools can be explored and promoted to help countries jointly build the "Belt and Road" to alleviate debt pressure, while expanding the financing space for green development projects and enhancing the credit supply capabilities of my country's financial institutions.

The third is to improve environmental and social risk management. As more and more Chinese-funded enterprises transform into an integrated investment, construction and operation model, enterprises and financial institutions should strengthen environmental and social risk management throughout their life cycle, establish a normalized communication mechanism with local stakeholders, and establish environmental and social risk tracking and early warning mechanisms for key countries, industries and projects to ensure the sustainable operation of projects. (Source of this article: Economic Daily)