EIB policy entrepreneurship and the EU’s regulation of Green Bonds

Abstract

ABSTRACT This article investigates how the European Investment Bank (EIB) influenced EU policymaking by promoting Green Bonds as an asset class. The article argues that the EIB has been instrumental in formulating the EU’s recently agreed Green Bond Standard. The EIB’s expertise and successful coalition building later allowed it to put Green Bonds on the EU’s policy agenda and develop a blueprint for the EU’s rules. The article concludes by drawing implications about the conditions under which the EIB might be able to engage in policy entrepreneurship more generally.