How China’s belt and road can pave the way to global sustainability
Yixiu Wu says Beijing should ensure its belt and road projects address environmental concerns, so as to shape development across three continents and leave behind a green legacy
China’s ‘Belt and Road Initiative’: what is it, who’s paying, who’ll benefit and who might lose out
The success of the initiative, which spans 65 countries, will depend on whether long-term concerns are prioritised. In the face of climate change, a transition away from fossil fuel consumption and towards environmental sustainability is imperative.
The good news is, within and outside China, models of sustainable development appear promising
The launch of the belt and road follows three decades of rapid economic growth in China, which has been fuelled by infrastructure development and intensive energy consumption. As a result of this legacy, China’s investments in the initiative have attracted scepticism. Observers questioned whether the belt and road is merely a vessel for China to reproduce its old development model, which, despite ushering in unprecedented growth, has led to widespread environmental degradation. Such questions are valid, considering that, between 2005 and 2016, 40 per cent of China’s outbound investment was directed towards energy projects and 18 per cent to infrastructure. Moreover, environmental negligence is one of the most frequently cited complaints about Chinese companies overseas.
The Earth has reached a crisis point. Extreme weather patterns are becoming the norm, forests are shrinking, and water supplies are running dry. There is no room any more for a development model that promotes growth at the expense of the environment.
Moreover, the belt and road countries are home to some of the world’s most vulnerable ecosystems and most precious carbon sink. They also use much of the world’s resources: a study conducted by the Chinese Academy of Social Sciences found that 38 key belt and road nations emit more than 55 per cent of the world’s greenhouse gases and consume 66 per cent of global water resources.
How China has embraced renewable energy and Hong Kong hasn’t
The good news is that, within and outside China, models of sustainable development appear promising. Domestically, China has begun to decouple its economic progress from fossil fuel consumption and is now home to the world’s fastest-growing renewable energy industry. China’s coal consumption has fallen for three years running, a key factor in the flattening of global greenhouse gas emissions. Internationally, the imperative for multilateral sustainability initiatives is indisputable, as exemplified by the Paris agreement on climate change.
If wisdom and resolve prevail, the Belt and Road Initiative will exemplify the benefits that a rising China can bring to the world