13 Amendments of Molly SCOTT CATO related to 2017/2071(INI)
Amendment 29 #
Draft opinion
Paragraph 3
Paragraph 3
3. Believes that instead of playing a partly anti-cyclical role, the key priority for the EIB should be to focus on areas where markets fail due to their persistent very short term focus and inability to correctly price long term externalities;
Amendment 43 #
Draft opinion
Paragraph 4
Paragraph 4
4. Emphasises that the EIB can play a positive role in reducing the negative public investment gap, but that its activities should not come into conflict with fiscal rules, as fiscal stability is a key precondition for stable and sustainable economic growth as stable and sustainable economic growth is a key precondition for fiscal stability ;
Amendment 51 #
Draft opinion
Paragraph 5
Paragraph 5
5. Recalls the high degree of urgency of clarifying the impact of Brexit on the EIB in order for the bank to continue to be able to perform its role; Believes that, while the UK, in terms of investment, should be treated as any other member state prior to its formal departure from the Union, the EIB is right to condition investment on assurances that investment eligibility criteria, notably on environmental standards, will be met for the full duration of such investments
Amendment 59 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Welcomes the EIB’s commitment to support the Union's commitments under the Paris Agreement; believes that the review of the EIB’s Energy policy foreseen for 2018 should result in an ambitious action plan to align its investments with the 1.5 degrees target that would significantly reduce risks and the impacts of climate change through the phasing-out of fossil fuel projects and the prioritisation of projects increasing the energy available through renewables and energy efficiency;
Amendment 60 #
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Points out that the EIB has had very mixed results on climate action, even though it just met its 25% target overall; is concerned that in 16 EU Member States, EIB support for climate action did not reach even the level of 20% and that climate action investment in 2016 was predominantly located in the EU’s stronger economies with 70 per cent of EFSI support for renewable energy was concentrated in just one country – Belgium – while 80 per cent of energy efficiency investment through the EFSI was allocated to France, Finland and Germany;
Amendment 61 #
Draft opinion
Paragraph 5 c (new)
Paragraph 5 c (new)
5c. Calls on the EIB to work with small market participants and community cooperatives to undertake bundling of small scale renewable energy projects to enable them to be eligible for EIB funding;
Amendment 85 #
Draft opinion
Paragraph 8
Paragraph 8
8. Notes a wide variety of experiences with EFSI projects; calls for the exchange of best practices between the EIB and the Member States in order to increase the effectiveness of the Juncker plan by focusing less on achieving an arbitrary level of leverage and more on making a difference to EU citizens' lives through sustainable infrastructure and quality jobs;
Amendment 94 #
Draft opinion
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Welcomes the EIB group Strategy on Gender Equality and Women’s Economic Empowerment released in 2017; Believes that the Gender Perspective should be applied to all EIB Group financial operations; Calls for a Gender Action Plan to be implemented soon, to set ambitious targets and to be accompanied by concrete indicators;
Amendment 98 #
Draft opinion
Paragraph 9 b (new)
Paragraph 9 b (new)
9b. Notes that some of the projects managed by the European Investment Bank involved Mossack Fonseca and that the European Commission blocked 18 projects in 2016, preventing €1billion to end up in tax havens; Calls on the Commission to make public an annual report on the use of EU funds as well as EIB and EBRD money transfers to offshore structures, including the number and nature of projects blocked, the reasons for blocking them and follow-up actions taken to ensure no EU funds directly or indirectly help tax avoidance and tax fraud;
Amendment 101 #
Draft opinion
Paragraph 9 c (new)
Paragraph 9 c (new)
9c. Asks for a country-by-country reporting without exemptions as a key part of the Corporate Social Responsibility strategy of the EIB and this before the EU adopts legislation in the field;
Amendment 102 #
Draft opinion
Paragraph 9 d (new)
Paragraph 9 d (new)
9d. Reiterates its call to the Commission to amend European legislation, including those concerning the European Investment Bank (EIB) Statute, the European Fund for Strategic Investment (EFSI) regulation, the four Common Agricultural Policy (CAP) Regulations, and the five European Structural and Investment Funds (European Regional Development Fund, European Social Fund, Cohesion Fund, European Agricultural Fund for Rural Development, European Maritime and Fisheries Fund) to prohibit the use of EU funding going to ultimate beneficiaries or financial intermediaries proven to be involved in tax evasion or aggressive tax planning;
Amendment 103 #
Draft opinion
Paragraph 9 e (new)
Paragraph 9 e (new)
9e. Urges the EIB group to adopt the review of its whistleblowing policy as soon as possible and to reinforce the independence, legitimacy, accessibility, predictability, equitability and transparency of its Complaints Mechanism, including by involving Directors and enhancing protection of complainants. Believes that such measures are clearly in the interest of the bank, the stakeholders and the EU institutions;
Amendment 104 #
Draft opinion
Paragraph 9 f (new)
Paragraph 9 f (new)
9f. Recommends that the new European Public Prosecutor's Office (EPPO) examine the possibility of covering EIB operations in the EU Member States concerned as part of its activities;