Activities of Elena GENTILE related to 2018/0178(COD)
Plenary speeches (1)
Establishment of a framework to facilitate sustainable investment (debate) IT
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council on the establishment of a framework to facilitate sustainable investment PDF (321 KB) DOC (139 KB)
Amendments (58)
Amendment 133 #
Proposal for a regulation
Recital 6
Recital 6
(6) In March 2018, the Commission published its Action Plan 'Financing Sustainable Growth'25 setting up an ambitious and comprehensive strategy on sustainable finance. One of the objectives set out in that Action Plan is to reorient capital flows towards sustainable investment in order to achieve sustainable and inclusive growth. The establishment of a unified classification system forand of indicators for identifying sustainable activities isare the most important and urgent actions envisaged by the Action Plan. The Action Plan recognises that the shift of capital flows towards more sustainable activities has to be underpinned by a shared, holistic understanding of what 'sustainable' meanseconomic activities and investments on environmental and social sustainability and resource efficiency. As a first step, clear guidance on activities qualifying as contributing to environmental objectives, should help inform investors about the investments that fund environmentally sustainable economic activities. Further guidance on the activities contributing to other sustainability objectives, including social objectives, may be developed at a later stage. _________________ 25 COM(2018) 97 final. COM(2018) 97 final.
Amendment 145 #
Proposal for a regulation
Recital 9
Recital 9
(9) Offering financial products and services which pursue environmentally sustainable objectives is an effective way of channelling and gradually shifting private investments into sustainable activities. National requirements for marketing as sustainable investments financial products and corporate bonds, in particular requirements set out to allow the relevant market actors to use a national label, aim to enhance investor confidence, to create visibility and to address concerns about “greenwashing”. Greenwashing refers to the practice of gaining an unfair competitive advantage by marketing a financial product as environment-friendly, when in fact it does not meet basic environmental standards. Currently a few Member States have in place labelling schemes. They build on different taxonomies classifying environmentally sustainable economic activities. Given the political commitments under the Paris Agreement and at Union level, it is likely that more and more Member States will set up labelling schemes or other requirements on market actors in respect of financial products or corporate bonds marketed as environmentally sustainable. In doing so, Member States would be using their own national taxonomies for the purposes of determining which investments qualify as sustainable. If such national requirements are based on different criteria as to which economic activities qualify as environmentally sustainable, investors will be discouraged from investing across borders, due to difficulties in comparing the different investment opportunities. In addition, economic operators wishing to attract investment from across the Union would have to meet different criteria in the various Member States in order for their activities to qualify as environmentally sustainable for the purposes of the different labels. The absence of uniform criteria will thus increase costs and create a significant disincentive for economic operators, amounting to an impediment to access cross-border capital markets for sustainable investments. The barriers to access to cross-border capital markets for the purposes of raising funds for sustainable projects are expected to grow further. The criteria for determining whether an economic activity is environmentally sustainable should therefore be harmonised at Union level, in order to remove obstacles to the functioning of the internal market and prevent their future emergence. With such harmonisation economic operators will find it easier to raise funding for their green activities across borders, as their economic activities can be compared against uniform criteria in order to be selected as underlying assets for environmentally sustainable investments. It will therefore facilitate attracting investment across borders within the Union.
Amendment 153 #
Proposal for a regulation
Recital 10
Recital 10
(10) Moreover if market participants do not provide any explanation to investors ofdisclose how the activities they invest in contribute to environmental objectives, or if they use different concepts in their explanation ofmetrics and criteria for determining what is a ‘sustainable’ economic activity, investors will find it disproportionately burdensome to check and compare these different financial products. It has been found that this discourages investors from investing into greensustainable financial products. Furthermore, the lack of investor confidence has major detrimental effects on the market for sustainable investment. It has further been shown that national rules or market-based initiatives taken to tackle this issue within national borders will lead to fragmenting the internal market. If financial market participants disclose how the financial products they claim are environment- friendly meet environmental objectives, and they use for such disclosures common criteria across the Union of what is an environmentally sustainable economic activity, this will help investors compare environment- friendly investment opportunities across borders. Investors will invest in green financial products with higher confidence across the Union, improving the functioning of the internal market.
Amendment 158 #
Proposal for a regulation
Recital 10 a (new)
Recital 10 a (new)
(10 a) The indicators should be harmonised based on existing undertakings such as developed by the Commission, the European Environmental Agency, and the OECD among others, and should capture environmental impact on CO2 and other emissions, biodiversity, production of waste, the use of energy, raw materials, water, and direct and indirect land use, as laid out in the Commission monitoring framework on the circular economy (COM/2018/29 final), the EU Action plan for the Circular Economy (COM/2015/0614 final) and the European Parliament's resolution on resource efficiency: moving towards a circular economy (2014/2208(INI)). Furthermore, the indicators should be designed also taking into account the recommendations of the support to Circular Economy Financing Expert Group of the European Commission. The Commission should evaluate how to integrate the work of this expert group with the TEG. Indicators should take into account internationally recognized sustainable standards.
Amendment 163 #
Proposal for a regulation
Recital 12
Recital 12
(12) Establishing criteria for environmentally sustainable economic activities may encourage firms to disclose on their websites, on a voluntary basis, information on the environmentally sustainable economic activities they carry out. This information will not only help relevant actors in the financial markets to easily identify which firms carry out environmentally sustainable economic activities, but it will also facilitate for these firms to raise funding for their greensustainable activities.
Amendment 175 #
Proposal for a regulation
Recital 15
Recital 15
(15) To avoid market fragmentation as well as harm to consumer interests due to divergent notions of the environmentally sustainable of economic activities, national requirements that market actors should comply with when they wish to market financial products or corporate bonds as defined in this Regulation being environmentally sustainable, should build on the uniform criteria for environmentally sustainable economic activities. Those market actors include financial market participants offering “green”sustainable financial products or services and non- financial companies issuing “green”sustainable corporate bonds.
Amendment 181 #
Proposal for a regulation
Recital 16
Recital 16
(16) To avoid harming consumer interestsinform retail investors and ensure consumer protection, fund managers and institutional investors offering financial products as environmentally sustainable, should disclose how and to what extent the criteria for environmentally sustainable economic activities are used to determineility aspect of investments including ESG selection criteria and their environmental sustainability of the investmentsly impact. The information disclosed should enable investors to understand the share of the investment funding environmentally sustainable economic activities as a percentage of all economic activities and thus the degree ofcriteria and indicators used for identifying the environmental impact, the environmental sustainability aspects of the investment. The Commission should specify the information that needs to be disclosed for that purpose. That information should enable national competent authorities to verify compliance with the disclosure obligation easily, and to enforce that obligation in accordance with applicable national lawe disclosure requirements should build on the work of the Global Reporting Initiative and the UN Principles for Responsible Investment.
Amendment 200 #
Proposal for a regulation
Recital 22
Recital 22
(22) Given the specific technical details needed to assess the environmental impact of an economic activity and the fast- changing nature of both science and technology, the criteria ofrelevant for determining the environmentally sustainableility of economic activities should be adapted regularly to those changes. For the criteria and indicators to be up to date, based on scientific evidence and input from experts as well as relevant stakeholders, the conditions for substantial contribution and significant harm should be specified with more granularity for different economic activities and should be updated regularly. To that purpose, granular and calibrated technical screening criteria and a set of harmonised indicators for the different economic activities should be laid down by the Commission, on the basis of the technical input of a multi-stakeholders Platform on Sustainable Finance.
Amendment 204 #
Proposal for a regulation
Recital 23
Recital 23
(23) Some economic activities have a negative impact on the environment, and a substantial contribution to one or more environmental objectives can be achieved by reducing that negative impact. For those economic activities, it is appropriate to set out technical screening criteria that require a substantial improvement in environmental performance compared to, inter alia, the industry average in the country or region. Those criteria should consider also the long term impact of a specific economic activity.
Amendment 221 #
Proposal for a regulation
Recital 27
Recital 27
(27) To avoid distorting competition when raising financing for environmentally sustainable economic activities, the technical screening criteria should ensure that all relevant economic activities within a specific sector can qualify as environmentally sustainable and are treated equally if they contribute equally towards one or more of the environmental objectives laid out in this Regulation. The potential capacity to contribute towards those environmental objectives may however vary across sectors, which should be reflected in the criteria. However, within each sector, those criteria should not unfairly disadvantagebe applied to all market participants equally, certain economic activities over others if the former contribute towards the environmental objectives to the same extent as the latter.
Amendment 234 #
Proposal for a regulation
Recital 32
Recital 32
(32) It is of particular importance that the Commission when preparing the development of the technical screening criteria, carry out appropriate consultations in line with Better Regulation requirements. The process for the establishment and the update of the technical screening criteria and the harmonised indicators should also involve relevant stakeholders and build on scientific evidence, best practice and the advice of experts with proven knowledge and experience in the relevant areas. For that purpose, the Commission should set up a Platform on sustainable finance. This Platform should be composed of experts representing both the public and the private sector. Public sector representatives should include experts from the European Environmental Agency, the European Supervisory Authorities and, the European Investment Bank and National Promotional Banks and Institutions. Private sector experts should include representatives of relevant stakeholders, including financial market actors, manufacturing industries, universities, research institutes, associations and organisations. The Platform should advise the Commission on the development, analysis and review of technical screening criteria, including their potential impact on the valuation of assets that until the adoption of the technical screening criteria and based on harmonised indicators were considered as greensustainable assets under existing market practices. The Platform should also advise the Commission on whether the technical screening criteria and indicators are suitable for further uses in future Union policy initiatives aimed at facilitating sustainable investment.
Amendment 243 #
Proposal for a regulation
Recital 35
Recital 35
(35) The application of this Regulation should be reviewed regularly and at least after two years in order to assess the progress on the development of technical screening criteria and harmonised indicators for environmentally and socially sustainable activities, the use of the definition of environmentally and socially sustainable investment, and whether compliance with the obligations requires the establishment of a verification mechanism. The first review shouldby 31 December 2021 will also include also an assessment of wthether extended to which, and when, the scope of this Regulation shcould be extended to cover social sustainability objectivesobjectives relating to the social aspects of the Sustainable Developments Goals meant to become the EU's new long-term development strategy.
Amendment 264 #
Proposal for a regulation
Article 1 – paragraph 2 – point a
Article 1 – paragraph 2 – point a
(a) measures adopted by Member States or by the Union setting out any requirements on market actors in respect of financial products or corporate bonds that are marketed as environmentally and socially sustainable.
Amendment 273 #
Proposal for a regulation
Article 1 – paragraph 2 – point b
Article 1 – paragraph 2 – point b
(b) financial market participants offering financial products as environmentally and socially sustainable investments or as investments having similar characteristics.
Amendment 289 #
Proposal for a regulation
Article 2 – paragraph 1 – point g a (new)
Article 2 – paragraph 1 – point g a (new)
(g a) 'socially sustainable investment' means an investment in an economic activity that contributes substantially to a socíal objective, and in particular an investment that contributes to tackling inequality, an investment fostering social cohesion, social integration and labour relations, and an investment in human capital or economically or socially disadvantages communities.
Amendment 302 #
Proposal for a regulation
Article 2 – paragraph 1 – point g
Article 2 – paragraph 1 – point g
(g) 'circular economy' means maintaining the value of products, materials and other resources in the economy for as long as possible, thus reducing environmental impact and minimising waste, including through the application of the waste hierarchy as laid down in Article 4 of Directive 2008/98/EC of the European Parliament and of the Council;50 _________________ 50 Directive 2008/98/EC of the European Parliament and of the Council of 19 November 2008 on waste and repealing certain Directives (OJ L 312, 22.11.2008, p. 3). and minimising the use of resources based on key circular economy indicators as set out in the monitoring framework on progress towards a circular economy, covering different stages of production, consumption, waste management and secondary raw materials;
Amendment 304 #
Proposal for a regulation
Article 2 – paragraph 1 – point g
Article 2 – paragraph 1 – point g
(g) 'circular economy' means maintaining the value of products, materials and resources in the economy for as long as possible, and minimising waste, including through the application of the waste hierarchy as laid down in Article 4 of Directive 2008/98/EC of the European Parliament and of the Council;50 _________________ 50 Directive 2008/98/EC of the European Parliament and of the Council of 19 November 2008 on waste and repealing certain Directives (OJ L 312, 22.11.2008, p. 3) and minimising the use of resources based on key circular economy indicators as set out in the monitoring framework on progress towards a circular economy covering different stages production, consumption, waste management and secondary raw materials.
Amendment 307 #
Proposal for a regulation
Article 2 – paragraph 1 – point h – point ii a (new)
Article 2 – paragraph 1 – point h – point ii a (new)
(ii a) in the context of water environment, pollution as defined in Article 2 (33) of Directive 2000/60/EC of the European Parliament and of the Council;
Amendment 320 #
Proposal for a regulation
Article 3 – paragraph 1 – point a
Article 3 – paragraph 1 – point a
(a) the economic activity contributes or will contribute substantially to one or more of the environmental or social objectives set out in Article 5 in accordance with Articles 6 to 11a;
Amendment 321 #
Proposal for a regulation
Article 3 – paragraph 1 – point a
Article 3 – paragraph 1 – point a
(a) the economic activity contributes substantially to one or more of the environmental and social objectives set out in Article 5 in accordance with Articles 6 to 11a;
Amendment 325 #
Proposal for a regulation
Article 3 – paragraph 1 – point b
Article 3 – paragraph 1 – point b
(b) the economic activity does not or will not significantly harm any of the environmental objectives set out in Article 5 in accordance with Article 12, nor the socially sustainable objective set out in Article 11a;
Amendment 328 #
Proposal for a regulation
Article 3 – paragraph 1 – point d
Article 3 – paragraph 1 – point d
(d) the economic activity complies with technical screening criteria, including sustainable performance indicators at company or plant levels belonging to the economic activity, where the Commission has specified those in accordance with Articles 6(2), 7(2), 8(2), 9(2), 10(2) and 11(2). Those technical screening criteria shall take into account planned investments pursuing one or more of the environmental objectives set out in Article 5.
Amendment 346 #
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
1. Member States shall apply the criteria for determining environmentally and socially sustainable economic activities set out in Article 3 for the purposes of any measures setting out sustainability requirements on market actors in respect of financial products or corporate bonds that are marketed as ‘environmentally sustainable’.
Amendment 354 #
Proposal for a regulation
Article 4 – paragraph 2
Article 4 – paragraph 2
2. Financial market participants offering financial products as environmentally sustainable investments, or as investments having similar characteristics, shall disclose information on how and to what extent the criteria for environmentally sustainable economic activities set out in Article 3 are used to determine the environmental sustainability of the investment. Where financial market participants consider that an economic activity which does not comply with the technical screening criteria set out in accordance with this Regulation or for which those technical screening criteria have not been established yet, should be considered environmentally sustainable, they mayshall inform the Commission. Financial market participants shall not offer financial products as environmentally sustainable investments having similar characteristics, if those products do not qualify as environmentally sustainable.
Amendment 373 #
Proposal for a regulation
Article 4 – paragraph 3 – point a
Article 4 – paragraph 3 – point a
(a) the percentage of holdings pertaining to companies carrying out environmentally and socially sustainable economic activities;
Amendment 380 #
Proposal for a regulation
Article 4 – paragraph 3 – point b
Article 4 – paragraph 3 – point b
(b) the share of the investment funding environmentally sustainable and socially economic activities as a percentage of all economic activities.
Amendment 386 #
Proposal for a regulation
Article 5 – title
Article 5 – title
Environmental and social objectives
Amendment 390 #
Proposal for a regulation
Article 5 – paragraph 1 – introductory part
Article 5 – paragraph 1 – introductory part
For the purposes of this Regulation, the following shall be environmental and social objectives:
Amendment 401 #
Proposal for a regulation
Article 5 – paragraph 1 – point 6 a (new)
Article 5 – paragraph 1 – point 6 a (new)
(6 a) promoting social objectives.
Amendment 405 #
Proposal for a regulation
Article 6 – paragraph 1 – introductory part
Article 6 – paragraph 1 – introductory part
1. An economic activity shall be considered to contribute substantially to climate change mitigation where that activity substantially contributes to the stabilization of greenhouse gas concentrations in the atmosphere at a level which prevents dangerous anthropogenic interference with the climate system by avoiding or reducing greenhouse gas emissions or enhancing greenhouse gas removals through any of the following means, including through process or product innovation:, work (such as environmental infrastructures and staged deep renovations) and services (such as Energy Performance Contracting), software and maintenance activities;
Amendment 410 #
Proposal for a regulation
Article 6 – paragraph 1 – point a
Article 6 – paragraph 1 – point a
(a) generating, storing, distributing or using renewable energy, both on site and nearby, or climate-neutral energy (including carbon-neutral energy), including through using innovative technology with a potential for significant future savings or through necessary reinforcement of the grid;
Amendment 417 #
Proposal for a regulation
Article 6 – paragraph 1 – point b
Article 6 – paragraph 1 – point b
(b) improving energy efficiencysaving and efficiency in all sectors, in terms of a reduction of primary and final energy demand consistent with the 2030 and 2050 energy and climate frameworks, the Articles 7 and 14 of the Energy Efficiency Directive, the long term building renovation strategies to achieve a highly energy efficient foreseen by the Energy Performance of Building Directive and long term building renovation strategies foreseen by the Energy Performance Directive;
Amendment 446 #
Proposal for a regulation
Article 8 – paragraph 1 – point a
Article 8 – paragraph 1 – point a
(a) protecting the aquatic environment from the adverse effects of urban and industrial waste water discharges by ensuring adequate collection and treatment of urban and industrial waste waters in accordance with Articles 3, 4, 5 and 11 of Council Directive 91/271/EEC53 , and promoting the reuse of waste water, as well as the reuse of sewage sludge in agriculture in such a way as to prevent harmful effects on soil, vegetation, animals and man in accordance with Council Directive 86/278 EEC; _________________ 53 Council Directive 91/271/EEC of 21 May 1991 concerning urban waste water treatment (OJ L 135, 30.5.1991, p. 40).
Amendment 454 #
Proposal for a regulation
Article 9 – title
Article 9 – title
9 Substantial contribution to the circular economy and, including waste prevention and recyclingboosting the uptake of secondary raw materials
Amendment 455 #
Proposal for a regulation
Article 9 – paragraph 1 – introductory part
Article 9 – paragraph 1 – introductory part
1. An economic activity shall be considered to contribute substantially to the transition to a circular economy and, including waste prevention and recycling where that activityboosting the uptake of secondary raw materials, where that activity promotes cascading use of material and contributes substantially to that environmental objective through any of the following means:
Amendment 457 #
Proposal for a regulation
Article 9 – paragraph 1 – point a
Article 9 – paragraph 1 – point a
(a) promoting innovative production, business and consumption models directed at improving the efficient use of raw materials in production, including through reducing the use of primary raw materials and increasing the use of by-products and wastesecondary raw materials, thus supporting end of waste operations;
Amendment 458 #
Proposal for a regulation
Article 9 – paragraph 1 – point a
Article 9 – paragraph 1 – point a
(a) improving the efficient use of raw materials in production, including through reducing the use of primary raw materials and increasing the use of by-products and waste, including secondary raw materials;
Amendment 459 #
Proposal for a regulation
Article 9 – paragraph 1 – point b
Article 9 – paragraph 1 – point b
(b) iencreasouraging the durability, reparability, upgradability oresign, manufacturing and increasing the use of products that are resource-efficient, durable (including in terms of life span and absence of planned obsolescence), repairable, re-usability of productsle and upgradable;
Amendment 466 #
Proposal for a regulation
Article 9 – paragraph 1 – point d
Article 9 – paragraph 1 – point d
(d) reducing the content of hazardous substances in materials and, products and waste;
Amendment 467 #
Proposal for a regulation
Article 9 – paragraph 1 – point g
Article 9 – paragraph 1 – point g
(g) reducing municipal waste generation and waste generation in processes related to industrial production, extraction of minerals, manufacturing, construction and demolition, taking into account best available techniques;
Amendment 468 #
Proposal for a regulation
Article 9 – paragraph 1 – point h
Article 9 – paragraph 1 – point h
(h) increasing preparing for re-use and recycling of waste according to the waste hierarchy;
Amendment 469 #
Proposal for a regulation
Article 9 – paragraph 1 – point h a (new)
Article 9 – paragraph 1 – point h a (new)
(h a) increasing the development of waste management infrastructure needed for prevention, re-use and recycling;
Amendment 470 #
Proposal for a regulation
Article 9 – paragraph 1 – point i
Article 9 – paragraph 1 – point i
(i) avoiding incineration and, disposal of wasteand landfilling of waste in line with the waste hierarchy;
Amendment 474 #
Proposal for a regulation
Article 9 – paragraph 1 – point j
Article 9 – paragraph 1 – point j
(j) avoiding and cleaning-up of litter and other pollution caused by improper waste managementidentifying products that are the main sources of littering, notably in natural and marine environments, and taking appropriate measures to prevent and reduce litter from such products; aiming to halt the generation of marine litter as a contribution towards the United Nations Sustainable Development Goal to prevent and significantly reduce marine pollution of all kind;
Amendment 476 #
Proposal for a regulation
Article 9 – paragraph 1 – point j a (new)
Article 9 – paragraph 1 – point j a (new)
(j a) reducing the generation of food waste in primary production, in processing and manufacturing, in retail and other distribution of food, in restaurants and food services as well as in households as a contribution to the United Nations Sustainable Development Goal to reduce by 50% the per capita global food waste at the retail and consumer levels and to reduce food losses along production and supply chains by 2030;
Amendment 477 #
Proposal for a regulation
Article 9 – paragraph 1 – point k
Article 9 – paragraph 1 – point k
(k) using natural energy resources efficiently. according to the cascading use of resources;
Amendment 478 #
Proposal for a regulation
Article 9 – paragraph 1 – point k a (new)
Article 9 – paragraph 1 – point k a (new)
(k a) fostering bio-economy through the sustainable use of renewable sources for the production of materials and commodities;
Amendment 479 #
Proposal for a regulation
Article 9 – paragraph 1 – point k b (new)
Article 9 – paragraph 1 – point k b (new)
(k b) implementing research and innovation in order to boost the creation of smart business models based on resource efficiency projects.
Amendment 494 #
Proposal for a regulation
Article 11 a (new)
Article 11 a (new)
Article 11 a Criteria for Socially sustainable economic activities 1. For the purpose of establishing the impact of social sustainability of an investment, an economic activity shall be socially sustainable where that activity complies with all of the following criteria: (a) contributes substantially to the rights, well-being and interests of people and communities, and in particular to tackling inequality, fostering social cohesion, social integration and labour relations, and human capital or economically or socíally disadvantaged communities. (b) supports the development of social economy organizations and social enterprises and gives public evidence, at least yearly, also via the web, off allocated funds referred for these categories, subject to the applicable regulations on protecting the privacy of personal data; (c) does not significantly harm any of the environmental objectives se out in Article 5 in accordance with Article 12, nor shall it harm a social objective, notably it shall not relate to irresponsable marketing of alcohol, short odds gambling activities, production or distribution of pornography, production or sales of tobacco´, production or sales of arms; (d) is not related to any type of speculative activities such as, for example, high frequency trading, short selling, naked short selling, food and raw materials commodities speculation, (e) meet the requirements of sound and transparent management structures and due diligence procedures, employee relations, transparent and sober remuneration policies of relevant staff and tax compliance, whose ration cannot, anyway, exceed the value of 5; (f) is carried out in compliance with the minimum safeguards laid down in Article13, and should thus not relate to denial to basic needs including food, shelter and medicine and the use of conflict minerals, nor be carried out in cooperation with parties that infringe political and civil rights and supply of strategic products and services to parties that directly contribute to the violation of political and civil rights; (g) complies with technical screening criteria, where the Commission has specified those in accordance with paragraph (2) of this Article. 2. The Commission shall adopt delegates acts in accordance with Article 16 to: (a) supplement paragraph 1 to establish technical screening criteria for determining under which conditions a specific economic activity is considered, for the purposes of this under which conditions a specific economic activity is considered, for the purpose of this Regulation, to contribute substantially to the rights, well-being and interests of people and communities, and in particular to tackling inequality, fostering social cohesion, social integration and labour relations, and human capital or economically or socially disadvantaged communities; (b) supplement Article 12 to establish technical screening criteria, for each relevant social objective, for determining whether an economic activity in respect of which screening criteria are established pursuant to point (a) of his paragraph is considered, for the purposes of this Regulation, to cause significant harm to one or more of those objectives. 3. The Commission shall establish the technical screening criteria referred to in paragraph 2 in a delegated act, taking into account the requirements laid down in Article 14. 4. The Commission shall adopt the delegated act referred to in paragraph 2 by 31 December 2021, with a view to ensure its entry into application on July 2002 for the first activity listed in Annex 1, and for other economic activities by the respective dates specified in Annex 1.
Amendment 502 #
Proposal for a regulation
Article 12 – title
Article 12 – title
Significant harm to environmental and social objectives
Amendment 522 #
Proposal for a regulation
Article 13 – paragraph 1
Article 13 – paragraph 1
The minimum safeguards referred to in Article 3(c) shall be procedures implemented by the undertaking that is carrying out an economic activity to ensure that the principles and rights set out in the European Pillar of Social Rights and the eight fundamental conventions identified in the International Labour Organisation’s declaration on Fundamental Rights and Principles at Work, namely: the right not to be subjected to forced labour, the freedom of association, workers' right to organise, the right to collective bargaining, equal remuneration for men and women workers for work of equal value, non- discrimination in opportunity and treatment with respect to employment and occupation, as well as the right not to be subjected to child labour, are observed.
Amendment 535 #
Proposal for a regulation
Article 14 – paragraph 1 – point c
Article 14 – paragraph 1 – point c
(c) be qualitative or quantitative, or both, and contain thresholds where possible and planned investments;
Amendment 545 #
Proposal for a regulation
Article 14 – paragraph 1 – point g
Article 14 – paragraph 1 – point g
(g) take into account the nature and the scale of the economic activity and planned investments;
Amendment 561 #
Proposal for a regulation
Article 15 – paragraph 1 – point a – point iii a (new)
Article 15 – paragraph 1 – point a – point iii a (new)
(iii a) the multi-stakeholder platform on the implementation of the Sustainable Development Goals in the EU;
Amendment 572 #
Proposal for a regulation
Article 15 – paragraph 1 – point b
Article 15 – paragraph 1 – point b
(b) experts representing relevant private stakeholdersNational Promoting Banks and Institutions (NPBIs);
Amendment 577 #
Proposal for a regulation
Article 15 – paragraph 1 – point b a (new)
Article 15 – paragraph 1 – point b a (new)
(b a) experts representing relevant private stakeholders including non- financial companies;
Amendment 632 #
Proposal for a regulation
Article 17 – paragraph 1 – point c
Article 17 – paragraph 1 – point c
(c) the appropriateness ofBy 31 December 2021, the Commission shall put forward a proposal for extending the scope of this Regulation to cover other sustainability objectives, in particular social objectives of the Sustainable Developments Goals;
Amendment 639 #
Proposal for a regulation
Article 17 – paragraph 1 – point d
Article 17 – paragraph 1 – point d
(d) the use of the definition of environmentally sustainable investment in Union law, and at Member State level, including the appropriateness of setting up verification mechanism of compliance with the criteria based on indicators set out in this Regulation.