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Multidimensional assessment of the energy sustainability and carbon pricing impacts along the Belt and Road Initiative

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  • Bompard, E.F.
  • Corgnati, S.P.
  • Grosso, D.
  • Huang, T.
  • Mietti, G.
  • Profumo, F.

Abstract

After its establishment in 2013, the Belt and Road Initiative (BRI) has rapidly developed, and it has brought together countries from all over the world. The BRI countries of Eurasia cover nearly 40% of the land surface and, in particular, the energy dimension of BRI is a dynamic and impacting reality: countries connected by the BRI account for 54% of world primary energy supply. In this global framework, it is of uttermost importance to evaluate the behaviour of BRI countries towards energy sustainability issues, by providing an overview of the current situation and assessing its evolution over time. In our analysis, we develop a quantitative framework for sustainability analysis, based on four dimensions: society, economy, energy and environment. The different dimensions are integrated in an overall sustainability index, evaluated through Multi Criteria Decision Analysis and in particular PROMETHEE II. We consider the most impacting (in terms of energy) BRI countries and we implement a comparative analysis of their sustainability providing a ranking and tracking their time evolution. Furthermore, we analyse the current practises of carbon pricing (carbon tax or Emission Trading System) along BRI, when implemented, as these mechanisms can contribute in reducing emissions and improving sustainability, also resulting in a benefit for the economy and society. For this aim, we use the proposed quantitative framework for assessing their effects on BRI sustainability.

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  • Bompard, E.F. & Corgnati, S.P. & Grosso, D. & Huang, T. & Mietti, G. & Profumo, F., 2022. "Multidimensional assessment of the energy sustainability and carbon pricing impacts along the Belt and Road Initiative," Renewable and Sustainable Energy Reviews, Elsevier, vol. 154(C).
    • Handle: RePEc:eee:rensus:v:154:y:2022:i:c:s1364032121010133
    DOI: 10.1016/j.rser.2021.111741
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    2. Bai, Yiran & Tang, Shichao & Lu, Chunxian & Chen, Beier & Yan, Minghui, 2023. "Economic policy uncertainty and natural resource policy in the United States," Resources Policy, Elsevier, vol. 83(C).
    3. Ruijin Du & Qi Wu & Ziwei Nan & Gaogao Dong & Lixin Tian & Feifan Wu, 2022. "Natural Gas Scarcity Risk in the Belt and Road Economies Based on Complex Network and Multi-Regional Input-Output Analysis," Mathematics, MDPI, vol. 10(5), pages 1-16, March.

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