Sub-title:
China’s banks supporting BRI projects should apply environmental risk-management policies and oversight, says Divya Narain
Description:
"China’s Belt and Road Initiative (BRI) is intended to catalyse the economies of countries around the globe.
Yet BRI projects overlap some of the most ecologically fragile places on earth. The multi-trillion-dollar initiative – to build transcontinental networks of roads, railways and ports, studded with dams, mines, power plants, and solar and wind farms – has its environmental impacts. These include air and water pollution, soil contamination and erosion, habitat and wildlife loss.
For project developers and funders, failure to address these impacts can translate into regulatory and reputational risks. So they need to take mitigation seriously.
Risks confronting developers can include penalties, legal action and backlash from communities causing project delays and even closures. According to a 2018 study, 14% of BRI projects in 66 countries have faced some kind of local pushback..."
Source/publisher:
"Chinadialogue" (China)
Date of Publication:
2020-01-30
Date of entry:
2020-01-31
Grouping:
- Individual Documents
Category:
Countries:
Myanmar, China
Geographic coverage:
Global
Language:
English
Resource Type:
text
Text quality:
- Good