Green Belt: The latest indication of the global shift away from fossil fuel came today in figure from the International Institute of Green Finance at the Central University of Finance and Economics in Beijing (IIGF) which showed that renewable power accounted of the majority of energy investments in President Xi’s signature Belt and Road Initiative (BRI) for the first time.
The share of wind, solar and hydropower made up 57% (about $11bn ) of China’s total investment in energy infrastructure last year, a jump from 38% in 2019. However, coal investments were also up, from 15% to 27%. Overall, Chinese investment BRI has been in decline since 2015, a year-on-year fall of 54%. That is faster than the expected rate of decline in global flows into emerging economies.