On November 21, China’s Belt and Road Reinsurance Consortium announced the publication of the Belt and Road Green Insurance Principles. Green development is emphasized as a key element in promoting the high-quality development of the “Belt and Road” initiative, with President Xi Jinping also highlighting the importance of strengthening environmental cooperation and building a Green Silk Road.
In 2024, the China National Financial Supervision and Administration Commission issued the “Guiding Opinions on Promoting the High-Quality Development of Green Insurance,” which called for strengthening support for green insurance and enhancing the green development of the Belt and Road initiative. In this context, the Consortium unveiled the Green Insurance Principles, aiming to integrate the concept of green development into institutional governance and assess the environmental risks of projects.
The newly published principles aim to assess the environmental risks of Belt and Road projects such as green infrastructure, green energy, and green transportation, and to create appropriate insurance plans. The Consortium also emphasized its invitation for insurance institutions to collaborate in spreading these principles and implementing the concept of green development across countries along the Belt and Road route.