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The Belt and Road Initiative was proposed by China in 2013 to promote the interconnected development and prosperity of all participating countries. In the context of global response to climate change, understanding the embodied carbon transfer change along economic trade before and after the Belt and Road Initiative is essential to reduce carbon overall emission. In this paper, we used a multi-regional input-output model to study the embodied carbon transfer in trade between the Belt and Road countries that have signed cooperation documents with China from 2004 to 2017. The results showed that from 2004 to 2017, the growth rate that China's carbon emissions imported from other Belt and Road Initiative countries was about 1.9 times that of its exports. From 2004 to 2017, the proportion of China's carbon imports from other Belt and Road countries in China's total carbon imports increased from 3.41% to 3.73%, and exports decreased from 6.52% to 6.03%. In both 2004 and 2017, Electricity, Gas and Water sector, Heavy Industry sector, Transport sector were the three largest carbon transfer sectors in China's multilateral trade. In 2017, the embodied carbon transfer by multilateral trade among other Belt and Road countries except China increased by 15.53% compared with 2004. By comparing the characteristics of carbon transfer between China and the Belt and Road countries from 2004 to 2017, this study will provide insights for carbon emission reduction policy setting of Belt and Road Initiative countries. • We took countries that have signed documents with China as research objects. • MRIO model was used to analyze the carbon transfer change from 2004 to 2017. • The embodied carbon transfer in 2017 of BRI increased by 15.53% compared with 2004. • The growth rate of China's carbon imports from BRI was 1.9 times that of exports. [ABSTRACT FROM AUTHOR]

Carbon dioxide emissions of "Belt and Road Initiative" countries account for one-third of the global value. China's direct investment in "Belt and Road Initiative" countries has a significant impact on their carbon dioxide emissions. This paper studies the effect of China's direct investment on carbon dioxide emissions in "Belt and Road Initiative" countries from 2003 to 2017. We apply a panel quantile model and the MCMC optimisation method to estimate the parameters. Then, 67 "Belt and Road Initiative" countries are divided into two groups to compare the different impacts of China's direct investment on their carbon dioxide emissions. The empirical results show that China's direct investment has a negative impact on the carbon dioxide emissions of "Belt and Road Initiative" countries no matter the sample is grouped or not. In the group of high-income countries, every 1% increase in Chinese investment reduces their carbon dioxide emissions by 0.04%. In the low-income group, for every 1% increase in China's direct investment, the national carbon dioxide emissions are reduced by 0.02%. Thus, it is suggested that China should further strengthen investment cooperation with "Belt and Road Initiative" countries in the future to promote global carbon dioxide emission reduction. • The impact of China's direct investment on BRI countries' carbon dioxide emissions is studied. • A sample of 67 BRI countries is divided into two group to analyse for the period 2003–2017. • A two-step panel quantile regression is adopted. • China's direct investment help reduce BRI countries' carbon dioxide emissions. [ABSTRACT FROM AUTHOR]