The Chinese Belt and Road Initiative (BRI) is a global cooperation platform to support and add strength to economic globalization and help resolve global development impediments and further enhance the global governance system. Its latest Five-Year Plans strongly emphasize green development/transformation and China is now a global leader in renewable energy investment and deployment in the world.
The BRI, Green Mercantilism (GM) is reflected in integrating green standards and technologies in infrastructure projects in all the member countries. This approach definitely aims to create numerous befitting propositions and win-win equation and supporting scenario, driving economic growth while promoting environmental sustainability in all the member countries.
The policy makers of China have introduced concepts like the Green Silk Road (GSR) and have pledged to follow principles of green development in its BRI projects in all the member countries around the globe. Critical analysis establishes environmental governance within the BRI framework involves balancing developmental needs with ecological sustainability. In BRI countries, China’s commitment includes funding green energy projects, such as hydroelectric power plants and solar farms.
Moreover, China’s approach to environmental issues through the BRI presents a unique model of global environmental governance. It is totally different from the Western approaches, which rely on certain regulatory frameworks and environmental standards. On the other side, China’s model completely focuses on infrastructure development and practical implementation of green technology. Thus it is result oriented and people, investment, business and environment friendly.
The influence of China’s Green Mercantilism (CGM) extends beyond the immediate economic and infrastructural impacts. It signifies a global environmental governance paradigm shift, offering a different approach to integrating economic development with environmental sustainability.
In this regard, the Padma Bridge Rail Link in Bangladesh, a project under the BRI, is an excellent example of infrastructure development aimed at boosting economic growth while claiming to adhere to environmental standards. The solar power projects in the Sahara Desert, part of the BRI’s energy projects in Africa, represent a significant step towards renewable energy.
According to Chinese data, in 2023, its renewable energy capacity surged to approximately 50 percent of its total energy capacity, positioning China to surpass its goal of installing 1200GW of solar and wind energy capacity by 2030, five years ahead of schedule. Many international experts anticipate China to achieve its target of peak CO2 emissions by 2030 earlier than expected, possibly by several years. As the leading producer of green technology, notably electric vehicles and renewable energy like solar photovoltaic and wind energy, China is poised to export these technologies at increasingly competitive prices to the global market, particularly to its Belt and Road Initiative (BRI) member countries.
Climate change poses the greatest risk to humanity. There are growing fears that the 1.5-degree Celsius target for global warming will not be met. 2023 was the hottest year ever recorded. However, CGM is the only way-out to combat the looming threat of global warming in the world.
According to the International Energy Authority, China deployed as much solar capacity last year as the entire world did in 2022 and is expected to add nearly four times more than the EU and five times more than the US from 2023-28. The IEA adds two-thirds of global wind manufacturing expansion planned for 2025 will occur in China, primarily for its domestic market.” In other words, the West desperately needs China’s green tech products.
Evidently, China’s dramatic breakthrough in new green technologies is offering hope not just to China, but to the whole world, because China will increasingly be able to supply both the developed and developing world with the green technology needed to meet their global targets.
China is now making substantial green energy investment in Africa, the Middle East and Central Asia. The Chinese companies are making strides in power generation and crafting solar energy equipment with support from a range of host countries, including Egypt, Mauritius, Qatar and the United Arab Emirates.
In 2023, China’s renewables investment in Africa reached a historic high of US$2.7 billion, while the Middle East received a total of US$9.48 billion from 2018 to 2023, surpassing the previous decade’s spending of US$2.23 billion, with Central Asia also breaking records with US$1.3 billion invested by China. Additionally, in Africa, the China Jiangxi Corporation for International Economic and Technical Cooperation and Kenya’s Rural Energy Authority constructed an unusually large photovoltaic electricity station.
China’s energy engagement last year was already the greenest in absolute and relative terms under the BRI. Countries in Central Asia, the Middle East and Africa, especially poorer ones are feeling the heat from climate change, with extreme weather events spurring overhauls in power generation to cut carbon emissions by 45 per cent by 2030 in line with United Nations goals.
China’s consistent policies and cost-effective capital strategies have solidified its competitive edge, leading the global market in solar and wind power exports. In 2022, PowerChina Guizhou Engineering inaugurated an 800-megawatt photovoltaic station in Qatar, increasing power generation by 10 to 15 percent through enhanced solar energy collection. Moreover, as part of China’s US$6 billion investment in Egypt, solar energy projects are underway, with plans to explore renewable hydrogen jointly. Notably, China contributed over half of the world’s installed renewable energy capacity last year, totaling 510 gigawatts (GW).
The United Arab Emirates has identified green technologies from China as a source of “significant potential for growth. Mauritius is accepting Chinese investment in solar energy to meet its carbon reduction target by 2030 because it has seen a particular interest among panel makers. In Uzbekistan, photovoltaic panels from China will help power a 1GW project built to use the Central Asian country’s abundant sunshine for 2.4 billion kilowatt hours of clean energy per year. The project is expected to cut carbon emissions by up to 2.4 million tonnes. Furthermore, Kazakhstan sees green technology as a promising area of cooperation with China.
In summary, China firmly upholds the international system with the United Nations at its core, and will, within its capacity, increase support for the least developed countries, small island states, African countries and other developing countries in addressing climate change and pursue green transformation through the development of renewables.
China-proposed BRI, significant changes have driven Pakistan’s green transformation, including the solar and wind power facilities from scratch.
Interestingly, China’s BYD overtaking Tesla as the world’s best-selling brand of electric vehicles is one of the most eye-catching headlines of the first week of 2024 vividly reflecting the Chinese leadership and professional expertise in green energies in the world.
