6 Amendments of Fabio Massimo CASTALDO related to 2019/2126(INI)
Amendment 4 #
Draft opinion
Paragraph 1
Paragraph 1
1. Highlights the importance of the activities of the European Investment Bank (EIB) to increase the current levels of investment in the EU, which are below historical averages and insufficient to fulfil the EU’s sustainability, social and innovation ambitions; stresses that in order to achieve these ambitions, more risk- taking by the EIB may be necessary in parallel to increasing equity and the development of expertise in innovative funding instruments; calls for adequate capitalisation of the EIB to allow for the use of innovative instruments in the financing of projects with substantial potential sustainability, social and innovation gains; calls on the EIB to intervene when there are specific market failures, such as the financial crisis and difficulties in accessing finance for SMEs and innovators;
Amendment 29 #
Draft opinion
Paragraph 3
Paragraph 3
3. Stresses that in order for the EIB to become the EU’s climate bank, it should stop all financial support to fossil fuel projects by the end of 2020, and align all its activities, including EIF operations, with the Paris Agreement’s goals; calls on the EIB to make decarbonisation commitments a condition for companies to receive EIB support; calls on the EIB to apply the EU taxonomy framework, once it has been formally adopted, as a benchmark for its climate and environmental investments; calls on the EIB to develop a credible methodology to measure, disclose and achieve ‘Paris alignment’ of its financing operations; stresses the importance of the projects planned to be financed or cofinanced by the EIB being compatible with the national climate targets linked to the implementation of COP21;
Amendment 42 #
Draft opinion
Paragraph 4
Paragraph 4
4. Stresses that the key quantitative target of the European Fund for Strategic Investments (EFSI) of mobilising EUR 500 billion of additional private and public investment should be replaced by measurable targets on sustainability and social impact in future investment strategies; calls on the EIB to increase the share of EFSI and InvestEU financing to projects that substantially contribute to the EU’s sustainability and social objectives; calls on the Commission to ensure that InvestEU’s sustainability-proofing methodologies are fully consistent with the EU’s sustainability objectives; points in this context to the importance of carrying out thorough ex-ante and ex-post assessments in order to ascertain that works are sustainable and will provide real added value in economic, social, and environmental terms;
Amendment 62 #
Draft opinion
Paragraph 5
Paragraph 5
5. Calls on the EIB group to be more transparent about its economic operations, its use of the EU budget guarantee, the additionality of EIB operations and on possible future plans for a development subsidiary at the EIB, and for the EIB group to improve its accountability on these issues; calls for a memorandum of understanding between the EIB and Parliament to improve access to EIB documents and data related to strategic orientation and financing policies in the future in order to strengthen the Bank’s accountability.; points out that the Bank's only shareholders are the Member States; stresses that the European Parliament, the Court of Auditors and the European Anti-Fraud Office should have more external oversight powers in order to strengthen the reporting of the Bank's activities;
Amendment 75 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Maintains that the EIB should ensure that local communities and citizens affected by its operations are properly consulted and have access to an independent, efficient complaint procedure;
Amendment 80 #
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Reiterates its call for the EIB to apply more stringent tax transparency standards; points to the need to make the granting of direct and indirect loans subject to publication of tax and accounting data country by country and to the sharing of beneficial ownership data on the beneficiaries and financial intermediaries involved in financing operations, with no possibility of exemption.