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.
The same person said that it was not clear whether any new money would be put behind the G-7 initiative, explaining that the initial purpose was a pledge toward creating a strategic framework.
The U.K. Cabinet Office didn’t immediately respond to a
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