The Role of Green Digital Finance in Achieving Sustainable Development Goals in China’s Belt and Road Initiative

James F. Paradise ()
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James F. Paradise: Asia Research Center

Chapter Chapter 8 in Green Digital Finance and Sustainable Development Goals, 2022, pp 167-185 from Springer

Abstract: Abstract Green digital finance can contribute to sustainable development in countries participating in the China-led Belt and Road Initiative (BRI) by unlocking investment, increasing financial inclusion, and lowering the cost of business transactions. Spurred by the FinTech revolution in China, including the development of a central bank digital currency, and a quest for leadership in global economic governance by Beijing, green digital finance is gradually emerging as an important tool of Chinese foreign policy. Contributing to this evolution is the development of new technology platforms by Chinese companies in areas such as mobile payments and peer-to-peer finance, and the creation of a greener financial system in China. Highlighted in the chapter is the importance of moving beyond exhortatory statements toward binding resolutions, increasing the rigorousness of environmental standards, embedding sustainability considerations in BRI projects, and helping increase implementation capacity in developing countries.

Keywords: Green digital finance; Sustainable development goals; Global environmental governance; Belt and Road Initiative; China (search for similar items in EconPapers)
JEL-codes: F30 F50 G28 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:eclchp:978-981-19-2662-4_8

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DOI: 10.1007/978-981-19-2662-4_8

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