China has dramatically cut back financing overseas infrastructure development initiatives, especially for carbon-intensive energy projects involving oil, gas, and coal. From 2016 to 2019, China’s two major policy banks slashed lending by a stunning 85%.
However, renewables are the exception, according to a new report by the Green Belt and Road Initiative Center at the Central University of Finance and Economics in Beijing. For the first time ever last year, financing for renewable energy projects using solar, wind, or hydropower accounted for more than half of all of Chinese investment in energy infrastructure around the world, said the report.
And BRI countries benefitted significantly more than those not a part of Beijing’s global trade agenda.
Two of the report’s authors, Christoph Nedopil, founding director of the Green BRI Center, and Mengdi Yue, a researcher at the center, join Eric & Cobus from Beijing to discuss the report’s findings and why financing renewable energy is now a more important policy priority for Beijing.
- Financial Times: China pours money into green Belt and Road projects by Christian Shepherd
- China Dialogue: China must boost green finance to achieve carbon neutrality by 2060 by Christoph Nedopil Wang and Dimitri De Boer
- Sixth Tone: New Report Calls for Greener Belt and Road Projects Overseas by Li You
Christoph Nedopil is the Founding Director of the Green Belt and Road Initiative Center and a Senior Research Fellow at the International Institute of Green Finance (IIGF) of the Central University of Finance and Economics (CUFE) in Beijing, China. Christoph is a member of the Belt and Road Initiative Green Coalition (BRIGC) of the Chinese Ministry of Ecology and Environment. He has contributed to policies and provided research/consulting amongst others for the China Council for International Cooperation on Environment and Development (CCICED), the Ministry of Commerce, various private and multilateral finance institutions (e.g. ADB, IFC, as well as multilateral institutions (e.g. UNDP, UNESCAP) and international governments. Christoph holds a master of engineering from the Technical University Berlin, a master of public administration from Harvard Kennedy School, as well as a PhD in Economics. He has extensive experience in finance, sustainability, innovation, and infrastructure, having worked for the International Finance Corporation (IFC) for almost 10 years and being a Director for the Sino-German Sustainable Transport Project with the German Cooperation Agency GIZ in Beijing.
Mengdi Yue is a researcher at the Green BRI Center at IIGF. She holds a Master’s degree in International Relations from School of Advanced International Studies (SAIS) and has worked with the American Enterprise Institute (AEI), European Union Chamber of Commerce in China and the China-ASEAN Environmental Cooperation Center of the Ministry of Ecology and Environment. She is fascinated by green energy finance in China and the Belt and Road Initiative and data analysis.
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