Marking the 10th anniversary of the Belt and Road Initiative (BRI), the year of 2023 ushers in a new phase and major opportunities for the development and cooperation of green BRI. Meanwhile, as climate change, energy security, eco-environment conservation and other global challenges are intertwining with each other, more institutional innovations for BRI are required to drive the process of sustainable development. With global consensus on climate change, coupled with energy security risks caused by geopolitical conflicts, more and more countries are developing their own renewable energy industries to ensure the energy supply in a more low-carbon, safe and sustainable way. Most of the BRI participating countries are from the developing world.