Net Zero Sparks 80 Percent Surge in Beijing’s Belt and Road Initiative Funding

Published on February 15, 2024

The global push towards net zero has proven to be a boon for Beijing’s Belt and Road Initiative (BRI), a global investment and lending program targeting major projects around the world. The BRI has been subject to intense scrutiny in recent years, particularly about the lending practices (debt-trap diplomacy) from Beijing-linked entities to developing countries. A new report from the Griffith Asia Institute and Fudan University, has found that Chinese companies (state-owned and private) poured US$50 billion into BRI last year—an 80 percent increase on the previous year. The biggest boost in funding has come from the green transition, with “technology”-related investment accounting for $8 billion of the BRI, including electric vehicle and lithium battery manufacturing....

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