CHINGREEN · On the financialisation of green: Chinese operations along the Belt and Road Initiative (BRI).

On the financialisation of green: Chinese operations along the Belt and Road Initiative (BRI).

The main issue and problem addressed in the project refers to the process of “financialization of nature” and explores how finance– in particular Chinese led– is creating new ways to capitalise on nature and nature related resources, with no real impact on the ground, local communities. This raises questions on processes of valuation, and standards with reference on how nature is “valued” across diverse cultural and geographical domains. Given the major Chinese role in the wider development of green finance, especially in the global south–the project addresses the way in which Chinese led green investments are conceived and deployed. A deep understanding of the relationship between finance and nature is paramount to rethink the ways societies are responding to climate change and are implementing policies to steer investments from “brown” to “green” assets. This requires an approach to financial valuation that exceeds the economic criteria, and which also encompasses issues of sustainability, at both global and local perspectives. The overall objectives of the project is to understand the typology and impact of Chinese green finance along the BRI. The research charts the ways in which Chinese capital is labelled as green and how it “lands” on the ground through specific financial instruments such as green bonds. This responds to the question of whether the special features of Chinese “green” financial capital are(re)shaping global green financial practices and thus the relationship between nature and finance This research agenda is articulated through four objectives: 1. Historical-Genealogical Formation: Through a genealogical method involving archival research and secondary data, explore how the meanings of “green” and “sustainability” originate in the Chinese context and how these are now attached to financial ends. 2. Standards and Value Creation: Through interviews with auditors, policy makers and financial experts, verify how “green” parameters are established and certified in the international financial markets, and how Chinese “green financial products” are valuated and traded across different regional and national “green taxonomies.” 3. Socio Spatial Impact: Through participatory methods, verify what new “green” solutions (if any) China is promising to export along the BRI. This will test the socio-economic impact of Chinese “green” financial instruments on the ground and how these are negotiated with local actors.

Data: CORDIS, © European Union