Paving the path towards carbon neutrality: revealing the contribution of the "Belt and Road" Initiative in mitigating carbon intensity.

Abstract

This study explores the crucial contribution of the "Belt and Road" Initiative (BRI) in diminishing carbon intensity and facilitating progress towards carbon neutrality, addressing the pressing global issue of climate change. Given its status as the world's foremost carbon emitter, China encounters significant pressure to alleviate its emissions. Launched in 2013, the BRI emphasizes economic development along its route while highlighting environmental protection in the regions involved. Despite extensive analyses of the BRI's economic impact, its environmental consequences have received insufficient attention, hindering a comprehensive evaluation of the initiative and obstructing the constructing of an environmentally optimal road. Empirical findings reveal a substantial reduction in carbon emission intensity in provinces along the BRI route, with robustness tests (change the time window period and dynamic effect) validating result consistency. The BRI achieves this reduction by alleviating congestion, enhancing transportation infrastructure, fostering commuting agglomeration, optimizing energy utilization, and lowering carbon intensity. Further analysis uncovers a mediating chain effect, establishing a conduction mechanism of "BRI brings on transportation infrastructure effect and then leads to travel agglomeration effect and then to congestion improvement effect and then to energy utilization effect and then eventuates carbon intensity reduction." This study offers crucial insights for policymakers aiming to make informed decisions towards the green road construction of the BRI, contributing to global efforts to combat climate change.