IDEAS home Printed from https://ideas.repec.org/a/spr/ieaple/v23y2023i3d10.1007_s10784-023-09595-w.html
   My bibliography  Save this article

The green investment principles: from a nodal governance perspective

Author

Listed:
  • Wenting Cheng

    (The Australian National University)

Abstract

China’s Belt and Road Initiative is now the world’s largest infrastructure initiative, with long-term climate change effects, and the Green Investment Principles (GIPs) for Belt and Road have been promoted as a key instrument to green the Belt and Road. This article focuses on the question: What role do the GIPs play in building a green Belt and Road and addressing relevant regulatory challenges? Based on the theory of nodal governance, it is argued that the GIPs’ two-layered networks facilitate China to influence investment decisions over many countries along the Belt and Road indirectly through fund providers as key nodes to transition toward green investment. China also avoided direct interference with the domestic policies of host countries through the GIP network. As a framework agreement, the GIPs also provide opportunities for signatories to contribute to the design and negotiation of specific implementation standards, enhanced capacity building, and the prospect of more stringent and prescriptive environmental standards in the future.

Suggested Citation

  • Wenting Cheng, 2023. "The green investment principles: from a nodal governance perspective," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 23(3), pages 373-393, September.
    • Handle: RePEc:spr:ieaple:v:23:y:2023:i:3:d:10.1007_s10784-023-09595-w
    DOI: 10.1007/s10784-023-09595-w
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10784-023-09595-w
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s10784-023-09595-w?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Christoph Nedopil & Truzaar Dordi & Olaf Weber, 2021. "The Nature of Global Green Finance Standards—Evolution, Differences, and Three Models," Sustainability, MDPI, vol. 13(7), pages 1-23, March.
    2. Edward J. Balistreri & Christoph Böhringer & Thomas F. Rutherford, 2018. "Carbon policy and the structure of global trade," The World Economy, Wiley Blackwell, vol. 41(1), pages 194-221, January.
    3. Emma Aisbett & Magdalene Silberberger, 2021. "Tariff liberalization and product standards: Regulatory chill and race to the bottom?," Regulation & Governance, John Wiley & Sons, vol. 15(3), pages 987-1006, July.
    4. Georg Inderst & Christopher Kaminker & Fiona Stewart, 2012. "Defining and Measuring Green Investments: Implications for Institutional Investors' Asset Allocations," OECD Working Papers on Finance, Insurance and Private Pensions 24, OECD Publishing.
    5. Gunningham, Neil, 2013. "Managing the energy trilemma: The case of Indonesia," Energy Policy, Elsevier, vol. 54(C), pages 184-193.
    6. Tao Huang & Qingyue Yue, 2020. "How the game changer was generated? An analysis on the legal rules and development of China’s green bond market," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 20(1), pages 85-102, March.
    7. Gregory Jackson & Julia Bartosch & Emma Avetisyan & Daniel Kinderman & Jette Steen Knudsen, 2020. "Mandatory Non-financial Disclosure and Its Influence on CSR: An International Comparison," Journal of Business Ethics, Springer, vol. 162(2), pages 323-342, March.
    8. Fernando Ascensão & Lenore Fahrig & Anthony P. Clevenger & Richard T. Corlett & Jochen A. G. Jaeger & William F. Laurance & Henrique M. Pereira, 2018. "Environmental challenges for the Belt and Road Initiative," Nature Sustainability, Nature, vol. 1(5), pages 206-209, May.
    9. Dan Tong & Qiang Zhang & Yixuan Zheng & Ken Caldeira & Christine Shearer & Chaopeng Hong & Yue Qin & Steven J. Davis, 2019. "Committed emissions from existing energy infrastructure jeopardize 1.5 °C climate target," Nature, Nature, vol. 572(7769), pages 373-377, August.
    10. Braithwaite,John & Drahos,Peter, 2000. "Global Business Regulation," Cambridge Books, Cambridge University Press, number 9780521784993.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Meihui Zhang & Chi Zhang & Fenghua Li & Ziyu Liu, 2022. "Green Finance as an Institutional Mechanism to Direct the Belt and Road Initiative towards Sustainability: The Case of China," Sustainability, MDPI, vol. 14(10), pages 1-31, May.
    2. Ali Rıza Güngen, 2023. "New Multilateral Development Banks and Green Lending: Approaching Scalar Complexities in the Global South," Development and Change, International Institute of Social Studies, vol. 54(2), pages 251-279, March.
    3. Bojana Škrbić & Željko Đurišić, 2023. "Novel Planning Methodology for Spatially Optimized RES Development Which Minimizes Flexibility Requirements for Their Integration into the Power System," Energies, MDPI, vol. 16(7), pages 1-34, April.
    4. Imperiale, Francesca & Pizzi, Simone & Lippolis, Stella, 2023. "Sustainability reporting and ESG performance in the utilities sector," Utilities Policy, Elsevier, vol. 80(C).
    5. Debabrata Mukhopadhyay & Nityananda Sarkar, 2021. "A Starting Note: Do Green Indices Outperform BSESENSEX and Energy Indices in India? Some Evidence on Investors’ Commitment Towards Green Investing," International Econometric Review (IER), Econometric Research Association, vol. 13(2), pages 41-58, June.
    6. Sri Astutik & Jürgen Pretzsch & Jude Ndzifon Kimengsi, 2019. "Asian Medicinal Plants’ Production and Utilization Potentials: A Review," Sustainability, MDPI, vol. 11(19), pages 1-33, October.
    7. Nicholas A. Phelps & Andrew Wood, 2018. "Promoting the global economy: The uneven development of the location consulting industry," Environment and Planning A, , vol. 50(6), pages 1336-1354, September.
    8. Guerra, K. & Haro, P. & Gutiérrez, R.E. & Gómez-Barea, A., 2022. "Facing the high share of variable renewable energy in the power system: Flexibility and stability requirements," Applied Energy, Elsevier, vol. 310(C).
    9. Ruth Mayne & Duncan Green & Irene Guijt & Martin Walsh & Richard English & Paul Cairney, 2018. "Using evidence to influence policy: Oxfam’s experience," Palgrave Communications, Palgrave Macmillan, vol. 4(1), pages 1-10, December.
    10. Zhang, Zhuo & Zhao, Yongliang & Cai, Haiya & Ajaz, Tahseen, 2023. "Influence of renewable energy infrastructure, Chinese outward FDI, and technical efficiency on ecological sustainability in belt and road node economies," Renewable Energy, Elsevier, vol. 205(C), pages 608-616.
    11. David Monciardini & Guido Conaldi, 2019. "The European regulation of corporate social responsibility: The role of beneficiaries' intermediaries," Regulation & Governance, John Wiley & Sons, vol. 13(2), pages 240-259, June.
    12. Tan Celine, 2019. "Beyond the ‘Moments’ of Law and Development: Critical Reflections on Law and Development Scholarship in a Globalized Economy," The Law and Development Review, De Gruyter, vol. 12(2), pages 285-321, June.
    13. Daniel Fitzpatrick & Rebecca Monson, 2022. "Property rights and climate migration: Adaptive governance in the South Pacific," Regulation & Governance, John Wiley & Sons, vol. 16(2), pages 519-535, April.
    14. Andreas Panagopoulos, 2004. "When Does Patent Protection Stimulate Innovation?," Bristol Economics Discussion Papers 04/565, School of Economics, University of Bristol, UK.
    15. Shaun Elder, 2014. "Does the GFC as a change agent of financial regulatory models and approaches in Europe provide lessons for Asia?," Asia Europe Journal, Springer, vol. 12(4), pages 419-430, December.
    16. Jing-Li Fan & Zezheng Li & Xi Huang & Kai Li & Xian Zhang & Xi Lu & Jianzhong Wu & Klaus Hubacek & Bo Shen, 2023. "A net-zero emissions strategy for China’s power sector using carbon-capture utilization and storage," Nature Communications, Nature, vol. 14(1), pages 1-16, December.
    17. Anna Hutchens, 2011. "Playing games of governance: How and why Fair Trade pioneers evade corporate capture," Regulation & Governance, John Wiley & Sons, vol. 5(2), pages 221-240, June.
    18. Auriol, Emmanuelle & Biancini, Sara & Paillacar, Rodrigo, 2023. "Intellectual property rights protection and trade: An empirical analysis," World Development, Elsevier, vol. 162(C).
    19. Stahl, B.C. & Andreou, A. & Brey, P. & Hatzakis, T. & Kirichenko, A. & Macnish, K. & Laulhé Shaelou, S. & Patel, A. & Ryan, M. & Wright, D., 2021. "Artificial intelligence for human flourishing – Beyond principles for machine learning," Journal of Business Research, Elsevier, vol. 124(C), pages 374-388.
    20. Terence C. Halliday & Josh Pacewicz & Susan Block‐Lieb, 2013. "Who governs? Delegations and delegates in global trade lawmaking," Regulation & Governance, John Wiley & Sons, vol. 7(3), pages 279-298, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:ieaple:v:23:y:2023:i:3:d:10.1007_s10784-023-09595-w. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.