As world leaders gather in Baku, Azerbaijan, for COP29 (the United Nations Climate Change Conference), an opportunity has emerged to align climate action with economic initiatives, particularly the Belt and Road Initiative.
One of the largest infrastructure programs in history, China’s Belt and Road Initiative was launched in 2013 to enhance global connectivity and economic integration across Asia, Europe, and Africa. Recognizing environmental challenges, China is focusing on a green transformation of the Belt and Road Initiative.
With the participation of over 140 countries and nearly US$1 trillion invested since its inception, the initiative holds great potential for promoting sustainable development. COP29 offers an opportunity to make the Belt and Road Initiative greener and to support the Belt and Road Initiative International Green Development Coalition (BRIGC).
China has strong policies committed to energy transformation, investing US$676 billion in green technology last year, the largest share globally in this sector. Under the Belt and Road Initiative framework, following its 2021 pledge to limit overseas coal financing, green energy investments have risen, with US$7.9 billion invested in solar and wind energy projects and US$1.6 billion in hydroelectric power last year. Therefore, COP29 can help draw more attention to these efforts, promoting investment and innovation to help green Belt and Road programs achieve their goals.
Aligning climate action with economic initiatives like China’s Belt and Road program will be crucial in shaping a resilient and sustainable future. With the potential to significantly reduce global carbon emissions and promote sustainable development across multiple continents, COP29 could ensure the environmentally responsible growth of the Belt and Road Initiative.