Evaluating and Prioritizing the Green Infrastructure Finance Risks for Sustainable Development in China

China has become a global leader in green infrastructure finance, investing heavily in renewable energy, sustainable transportation, and green buildings. However, there are multiple risks and challenges that impede the development of green infrastructure finance. Thus, this study analyzes and prioritizes the risks associated with green infrastructure finance in China and proposes policy plans to mitigate these risks. A Fuzzy analytical hierarchy process (AHP) is used to identify the main risks associated with green infrastructure finance. The main risks are further decomposed into sub-risks. After, the Fuzzy VlseKriterijumska Optimizacija I Kompromisno Resenje (VIKOR) method is used to prioritize the key policy plans to mitigate risks and sub-risks. The results of Fuzzy AHP show that policy and regulations are the most significant risk associated with green infrastructure finance in China, followed by financial risks, and technical risks. The results of Fuzzy VIKOR reveal that increasing the availability of financing options is the most crucial policy plan to mitigate the risks and sub-risks for green infrastructure finance. The developed standardized technical guidelines and procedures and a legal and regulatory framework are ranked second and third are the most effective and feasible policy plans.