In green energy related resources around 4.8 billion USD aimed to lower the carbon footprint, and scale up the green energy.
Beijing: Along with the initiative to build the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, China also launched Green Silk Road aimed to promote green environment, highlight innovation, value coordination, advocate green development, strengthen eco-environment protection, and jointly build a green silk road.
Over the last decade, China has made substantial advancements in establishing an environmentally friendly Belt and Road Initiative. Presently, more than half of China’s investments in Belt and Road participating countries are directed toward renewable energy. In 2021, China took the significant step of ceasing the construction of new coal-fired power plants. This eco-conscious approach underscores China’s commitment to assisting BRI participant nations in decarbonizing their economies and combating climate change.
Under the BRI project, China also launched Green Investment Principle, GIP to promote green infrastructure development in regions of ancient Silk Road.
Jointly building a Green Silk Road is a significant measure to promote green and low-carbon development of developing countries and build a clean and beautiful world, Chinese Vice President Han Zheng while speaking at a high-level forum, held in Beijing in 2023, on green development.
China has boosted the green transformation of its energy structure, continuously improved the quality of its ecological environment, actively participated in and led global environmental governance, and made its contributions to the building of a community with a shared future for humanity and promoting global sustainable development, VP said.
The vice president further stated it was necessary to step up support for platforms such as the BRI International Green Development Coalition, establish investment and financing partnerships for green development, strengthen investment and technological cooperation in green energy to facilitate the green and low-carbon energy transformation of Belt and Road partner countries.
Han also called for deepening practical cooperation on climate change and aligning the building of a Green Silk Road with the UN 2030 Agenda for Sustainable Development.
Also, China is sharing knowledge, expertise and data with BRI countries for green partnerships under Green Silk Road vision.
Determined to do its part for the “Green Silk Road”, China Machinery Engineering Corp (CMEC), headquartered in Beijing, secured the $1 billion engineering, procurement and construction contract to build the Al Dhafra solar photovoltaic project. It is the first legally binding clean and renewable energy target in the Middle East, and integral to Abu Dhabi’s energy transition process.
Masdar is the UAE’s flagship renewable energy company and a major developer of the Al Dhafra solar power project.
Also, Chinese solar technology has helped Spain’s small village of Luco de Jiloca to be self-sufficient in energy.
Now, China has more large-scale solar capacity than the rest of the world combined. In 2023, China’s invested in green energy related resources around 4.8 billion USD aimed to lower the carbon footprint, and scale up the green energy.
