Corporate Environmental Responsibility: Another Road to Achieve Ecological Civilization and Green BRI

Abstract

Launched in 2013, the Belt and Road Initiative (BRI) was promoted by the Chinese leadership as an open platform to boost global trade, economic growth and transnational cooperation. It has achieved impressive progress in economic terms. However, a concern that has been voiced by international society is that China is using the BRI host countries as a new ‘pollution haven’. As a response, the Chinese government launched a variety of policies and guidelines with the aim of integrating the concept of ecological civilization and green development into the implementation of the BRI. In general, China’s position is to require all Chinese companies to observe the local environmental laws and standards wherever they invest and operate. However, the minimum standards set by various environmental regulations of the host countries may not be effective in improving corporate environmental performance, particularly when the environmental standards in those counties are lower and more lenient than those that are in effect in China. The aim of this article is to explore whether the concept of Corporate Environmental Responsibility (CER) could motivate Chinese corporations to strengthen environmental risk management when they are operating and investing in these host countries. It is concluded that CER, as a form of private environmental governance, could provide added value for the implementation of ecological civilization and green development in the BRI but the success of this self-regulatory approach nevertheless calls for governmental intervention under certain circumstances.

Government Regulation, Executive Overconfidence, and Carbon Information Disclosure: Evidence From China

“…The existing research on government environmental regulation mainly focuses on the type, impacts, and effectiveness of environmental regulation (Ziegler et al, 2012;Cheng et al, 2017;Liu and Li, 2019). For example, existing studies have explored the effects of government regulation on firms' environmental performance (Akram et al, 2018;Lu, 2020;Wang et al, 2020), green technology innovation (Kammerer, 2009;Ai et al, 2021), sustainability, and corporate social responsibility strategies (Schmutz et al, 2020).…”