CEU Electronic Theses and Dissertations, 2025
| Author | Steininger, Philipp Alexander |
|---|---|
| Title | "Organized Hypocrisy" or Genuine Transformation? A Critical Evaluation of the European Investment Bank as "EU's Climate Bank" |
| Summary | This thesis critically evaluates the European Investment Bank’s (EIB) declared transformation into ‘EU’s Climate Bank’, assessing the progress made under the Climate Bank Roadmap 2021–2025. Drawing on the concept of ‘organized hypocrisy’ by Brunsson (2002) and the structural obstacles identified by Mertens and Thiemann (2023), this study examines whether the EIB is undergoing a genuine Climate Bank transformation, or is engaging in ‘organized hypocrisy’, as research on similar institutions might suggest. To address this, the thesis explores three sub-questions: (1) To what extent has the EIB implemented its Climate Bank Roadmap commitments? (2) How robust and comprehensive are the EIB’s climate policies? (3) To what extent have structural obstacles identified in literature materialized in practice? Through a qualitative methodology combining institutional analysis, documentary analysis, and five expert interviews, several key findings were identified. While the EIB has met major quantitative targets, such as substantially increasing climate-related lending, funding for projects that are less aligned with market logic, related to adaptation, just transition or biodiversity remain insufficient. The research confirms structural obstacles identified in the literature, such as dependence on and influence from Member States, limited transparency and an unclear taxonomy. However, this does not mean that the EIB fully engages in ‘organized hypocrisy’. Despite shortcomings, recent progress indicates a partial and strategically selective shift of the EIB towards a Climate Bank, shaped by its institutional constraints. This thesis contributes to the literature by discussing the structural obstacles with field experts and bridging institutional analysis with civil society critiques. |
| Supervisor | Piroska, Dóra |
| Department | Undergraduate Studies BA |
| Full text | https://www.etd.ceu.edu/2025/steininger_philipp.pdf |
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