China Advances Green Development through BRI

The Belt and Road Initiative (BRI) is committed to sustainable development, with China collaborating on renewable energy projects to enhance energy accessibility in developing regions. The initiative prioritizes green practices, aiming to create a low-carbon global network, and has established projects like hydropower plants in Africa and wind farms in Southeast Asia to promote clean energy. Concurrently, the European Union is advancing green finance in Sri Lanka through the Global Gateway strategy, encouraging financial institutions to integrate sustainability into their operations. In Mongolia, the Sustainable Development Goal Finance Taxonomy is being developed to align financial practices with sustainable development goals, focusing on sectors like healthcare and renewable energy. This initiative is supported by the ADB and UNDP, highlighting Mongolia's potential as a regional leader in sustainable finance. The country faces challenges related to energy dependence on fossil fuels, affecting its Human Development Index and underscoring the need for a just energy transition.