China’s Contributions to Global Green Energy and Low-Carbon Development: Empirical Evidence under the Belt and Road Framework

Abstract

This paper aims to explore China's contributions to global green energy and low-carbon (GELC) development based on the Belt and Road (B&R) Initiative. Basic situations of B&R countries reveal an urgent requirement for developing green energy. Carbon intensity is an efficient indicator reflecting the degree of GELC development, which is affected by many factors. By analyzing the spatial distribution of carbon intensities in 29 B&R countries excluding China, the spatial agglomeration and positive radiation effects are discovered, while the negative radiation effects are disappearing, indicating that the studied B&R countries lack an effective driving mechanism to promote GELC development. Besides, the spatial convergence results support significant absolute and conditional convergences in the 29 B&R countries, and a faster convergence speed when considering control variables. Therefore, B&R countries trend to converge to a steady stable carbon intensity to achieve the GELC development. Furthermore, the investment rate and openness play a driving role in pushing the decrease of carbon intensity growth rate, revealing that the B&R Initiative can promote reducing the global carbon emissions and developing global green energy. Moreover, the carbon intensity of the country will be positively affected by those of the surrounding areas, indicating that reducing carbon emission is a global governance issue requiring the participation of all countries. Finally, several policy suggestions are proposed to promote the global GELC development under B&R framework, according to the empirical findings.

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