While the overland and maritime dimensions of China’s Belt and Road Initiative (BRI) have captured global imagination, the scale of global investment required is often overlooked. Announced by Xi Xinping in 2013, China invested about USD 755 Billion between this time and 2020 according to the International Institute of Green Finance. Alongside a land, maritime and investment corridor that is both colossal and historic, arises the question of sustainability.
How will China’s vast infrastructure projects and trade relations affect global carbon emissions?
As China becomes a leader in digital payments and crypto-based currency, can innovative financial technologies be leveraged to incentivize ‘green’ technologies and new forms of revenue creation? Above all, can a new Silk Route for the 21st century serve as a model of sustainable development, and a globally relevant sandbox for critical innovations in renewable energy, digital currency and supply-chain logistics?
Watch the discussion below:
As China becomes a leader in digital payments and crypto-based currency, can innovative financial technologies be leveraged to incentivize ‘green’ technologies and new forms of revenue creation?
In this episode of Fintech Surge, Dr. Christoph Wang and Professor Charles Chang outline how a new generation of eco-friendly financial innovations could underpin the world’s largest investment program. During the course of the conversation the potential of nascent financial instruments in leveraging and making new models of behavior possible, for governments and citizens, is discussed. The extent of global research and the requirement for international confidence building measures and shared practices is referenced. More broadly, the speed at which emerging technologies are being incorporated and layered into policy planning at the highest levels becomes clearer.
Dr. Christoph Nedophil Wang is the founding director of the Green Belt and Road Initiative Center (Green BRI Center) of the International institute of Green Finance (IIGF) at the Central University of Finance and Economics (CUFE).
Professor Charles Chang is the Deputy Dean of Academics, Professor of Finance, Director of the Fintech Research Center, Fanhai International School of Finance. Member of the finance faculty at the Chinese University of Hong Kong.
This episode was moderated by John Lillywhite, Google Research Associate at the Mohammed bin Rashid School of Government.