Over the past decade, it has been argued that the EU has been following a "policy of unconditional engagement" vis-à-vis the PRC, pursuing its promotion of international engagement and multilateralism. In the field of Climate Change China has been a crucially important member of the UNFCCC process and a key target of European engagement policies. While official diplomatic and strategic climate relations have been well-documented, the role of the European Investment Bank (EIB) has largely remained below the radar. The EIB has consistently and increasingly supported climate-related projects with China. But how have these efforts been translated into policy change? As an empirical, qualitative study, the paper draws on 60 interviews to trace the motives, perceptions and effects of EIB investment in Chinese climate change projects. The paper concludes that the EIB has acted as implementer of overall European foreign climate policy, but due to favourable investment conditions and the EIB's own organizational interests, the EIB has been pushing climate change investment in China at an accelerated speed, becoming a policy promoter itself.
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