| Title | The European Investment Bank's 'Quantum Leap' to Become the World's First International Climate Bank |
|---|---|
| ID_Doc | 63377 |
| Authors | Kavvadia, H |
| Title | The European Investment Bank's 'Quantum Leap' to Become the World's First International Climate Bank |
| Year | 2021 |
| Published | Politics And Governance, 9, 2 |
| Abstract | In November 2019, the European Investment Bank (EIB) announced its `metamorphosis' into a 'Climate Bank.' Associated with the EU's Green Deal, presented a month later, the EIB claimed to be the first international climate bank and a front runner in the EU's priority climate agenda. The EIB is mandated through the treaties to support EU policymakers. However, with its 'makeover,' the EIB also announced the launch of a new climate strategy and energy lending policy, ending fossil fuel financing after 2021. It is thus valuable to examine the question of whether the EIB has developed into a policymaker, and if so, how this can be best understood. In exploring this question, this article follows a principal-agent approach, attempting to discern the rational interests behind organisational rhetoric and posits that the EIB's claimed transformation hints at a type of policymaking activism, exploiting a policy window to serve the EIB's rational interests in a strained political and market contest. This represents a paradigm shift in the EIB's institutional behaviour and rhetoric within the EU governance constellation and is, in fact, in this sense a 'quantum leap' as suggested by the EIB. However, it remains to be seen if the bank's metrics will prove a bold departure from their current activity or simply another adaptation to a policy field of intense interest to the EU, as has occurred on several occasions in the past. |
| https://www.cogitatiopress.com/politicsandgovernance/article/download/3921/3921 |
Similar Articles
| ID | Score | Article |
|---|---|---|
63247
|
Dupont, C; Moore, B; Boasson, EL; Gravey, V; Jordan, A; Kivimaa, P; Kulovesi, K; Kuzemko, C; Oberthür, S; Panchuk, D; Rosamond, J; Torney, D; Tosun, J; von Homeyer, I Three decades of EU climate policy: Racing toward climate neutrality?(2024)Wiley Interdisciplinary Reviews-Climate Change, 15, 1 | |
| 65076
|
Stilinovic, AV The Eu Climate Objectives And The Legal Mandate Of The European Central Bank(2023) | |
| 63052
|
Skjærseth, JB Towards a European Green Deal: The evolution of EU climate and energy policy mixes(2021)International Environmental Agreements-Politics Law And Economics, 21, 1 | |
| 63900
|
Dupont, C; Oberthür, S; von Homeyer, I The Covid-19 crisis: a critical juncture for EU climate policy development?(2020)Journal Of European Integration, 42, 8 | |
| 63325
|
Crncec, D; Penca, J; Lovec, M The COVID-19 pandemic and the EU: From a sustainable energy transition to a green transition?(2023) | |
| 62953
|
Oberthür, S; von Homeyer, I From emissions trading to the European Green Deal: the evolution of the climate policy mix and climate policy integration in the EU(2023)Journal Of European Public Policy, 30, 3 | |
| 62974
|
Rosamond, J The slow-burning climate emergency and the European Green Deal: Prospects and pitfalls in the polycrisis era(2023) | |
| 62904
|
Rosamond, J; Dupont, C The European Council, the Council, and the European Green Deal(2021)Politics And Governance, 9, 3 | |
| 64090
|
Calliess, C; Tuncel, E The Role of Article 11 TFEU in the Greening of the ECB's Monetary Policy(2023)German Law Journal, 24, 5 | |
| 63923
|
Steinbach, A The Greening Of The Economic And Monetary Union(2022)Common Market Law Review, 59, 2 |