G7 set to launch green alternative to China’s Belt and Road

The G7 is expected to launch a ‘Clean Green Initiative’ to rival China’s Belt and Road Initiative when leaders meet at a summit next week, sources tell Bloomberg News.

The Group of Seven nations plans to launch a green alternative to China’s Belt and Road initiative when the leaders meet at a summit next week, according to two people familiar with the matter. The strategy, expected to be called the “Clean Green Initiative,” would provide a framework to support sustainable development and the green transition in developing countries, the people said. The initiative will also be on the summit agenda for the leaders. A G-7-backed plan to rival China’s infrastructure strategy was initially pushed by U.S. president Joe Biden, and has featured in technical discussions between diplomats preparing next week’s meeting in Cornwall, England, one of the people said.