China's BRI project poses significant threat to climate change, environment: IFFRAS Report – Republic World

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IMAGE: AP/ANI/RepresentativeImage
International Forum For Rights and Security (IFFRAS) recently reported that China’s Belt and Road Initiative (BRI) is causing significant environmental risks. As per the report, China’s Belt and Road Initiative (BRI) is a threat to climate change and is increasing environmental degradation. In the report, the International Forum For Rights and Security (IFFRAS) has said that by contributing to the burning of carbon dioxide, BRI will further enhance environmental degradation and climate change.
As per the report, coal-burning is estimated to contribute to around 46 per cent of carbon dioxide emissions across the globe. The electricity sector is responsible for nearly 72 per cent of greenhouse emissions. The report has mentioned that China’s BRI project will have a negative effect on planet Earth. Furthermore, IFFRAS noted that the guidelines given for the environment are hardly followed in China, according to ANI. In spite of the fact that most of the projects are based on fossil fuels, the Chinese government has termed the Belt and Road Initiative as an “environmentally sustainable and green project”, according to ANI.
China’s Belt Road Initiative (BRI), spread across five continents will further intensify environmental degradation. The think tank has estimated that about 90 per cent of its energy projects are carbon-intensive and they operate on fossil fuel. The World Resources Institute (WRI) has stated that the Chinese projects will be based on a conventional pattern and IFFRAS noted that, the projects based on this method will not follow carbon reduction development methods. The WRI in its report has mentioned that about 61 per cent of the energy-sector loans approved and financed by the China Development Bank were based on fossil fuels. 
WRI said, “From 2014 to 2017, 91 per cent of the energy-sector syndicated loans in which the six major Chinese banks and 61 per cent of the energy-sector loans financed entirely by China Development Bank and/or China Exim bank were in fossil fuels”, as quoted by ANI. 
 

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