Evaluation of green governance of energy projects along the Belt and Road

Abstract

PurposeThis study aims to enhance the assessment of green governance in energy projects along the Belt and Road, reduce the influence of fuzzy judgment, and construct a grey network analysis model from the perspective of Environmental, Social, and Governance (ESG).Design/methodology/approachThe ESG concept is used to establish an evaluation indicator system. The Analytic Network Process (ANP) and the Grey System Theory are applied sequentially to determine the green governance grade of energy projects, exemplified by an evaluation of five projects.FindingsThe Karot hydropower project has the best green governance status among the five projects and is of excellent grade. This is followed by the Hongfeng photovoltaic project, the De Aar wind power project, and the Yamal liquefied natural gas project, which are of good grade. The Lamu coal power station project has the worst green governance and is at a medium level.Practical implicationsThis study can assist Belt and Road energy projects in identifying their deficiencies and promoting sustainable development by providing a robust framework for green governance evaluation.Originality/valueThe indicator system developed in this study includes social and project governance aspects in addition to environmental performance, reflecting the comprehensive green governance status of projects. The combined use of ANP and grey system theory fully considers the mutual influence relationship between indicators and improves the objectivity of green governance grade judgment.