Role of belt and road initiative in the development of renewable energy: Mediating role of green public procurement

Abstract

The Belt and Road Initiative (BRI) aims to advance connectivity and sustainable economic growth. This study investigates the BRI's contribution to the growth of renewable energy, concentrating on the mediating function of green public procurement (GPP). Using panel data from 1990 to 2020, we discover a favorable correlation between the BRI and the growth of renewable energy sources. Our findings demonstrate a strong positive relationship between the BRI and the growth of renewable energy, highlighting the initiative's potential to spur the use of clean energy across the BRI countries. GPP is an essential middleman in this relationship, highlighting the significance of legislative initiatives and procurement procedures. In renewable energy technologies, the BRI promotes international collaboration and knowledge exchange, while the GPP oversees adopting sustainable procurement. These results highlight the BRI and GPP's potential to speed up the world's switch to renewable energy. Decision-makers, stakeholders, and companies can use these insights to promote sustainable development along the BRI route.