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More than Just a BRI Greenwash: Green Bonds Pushing Climate-Friendly Investment
›From the cultural hub of Lahore down to the bustling ports of Karachi, smog is king in Pakistan, with citizens enduring unhealthy air quality for much of the year. The smog, generated mostly by crop and garbage burning and diesel emissions from furnaces and cars, could get worse by the end of this year when Pakistan opens five new Chinese-built coal power plants, funded by a $6.8 billion venture under the China-Pakistan Economic Corridor (CPEC) initiative. These five plants are just the beginning of the Pakistan government’s planned 7,560 MW expansion in coal power, which are CPEC-energy priority projects. “It’s a perfect storm for a pollution crisis,” said Michael Kugelman of the Wilson Center’s Asia Program. “The poor will continue to burn a variety of polluting materials to produce fuel, and now you’re also going to be introducing dirty coal into the mix. Combine that with crop burning in the countrywide and car exhaust fumes in rapidly growing cities, and you’ve got a really smoggy mess on your hands—and in your lungs.”
Showing posts by Alan Meng.