The European Bank for Reconstruction and Development kicks off its annual meeting here Sunday with an initiative to slash energy waste and pollution across the 27 countries in which it operates.
The two-day conference comes also as the EBRD continues to focus on investment opportunities in south-eastern Europe, where countries including Bulgaria and Romania are battling to win EU membership.
Around 2,000 journalists and delegates will descend on London to attend the annual event which spills over into Monday.
The EBRD, which is headquartered in the British capital, will launch its Sustainable Energy Initiative to address the issue of energy waste and security, climate change, and the need for cleaner sources of energy.
Under the initiative, the bank will invest up to 1.5 billion euros (1.9 billion dollars) in energy efficiency, renewable and clean energy projects over the next three years.
With further financing from other investors it is hoped that figure could rise to 5.0 billion euros. The bank aims also to win an additional 100 million euros from donor governments.
Meanwhile, the EBRD is mulling new investment in the controversial Sakhalin II project, on the island of Sakhalin, 40 kilometres (25 miles) from Japan's coast.
Before the meeting, EBRD president Jean Lemierre said that a decision would probably be reached by September on financing an expansion of the Shell-led oil and gas project in Russia's far east.