Activities of Clare MOODY related to 2015/0009(COD)
Plenary speeches (1)
European Fund for Strategic Investments (debate)
Amendments (33)
Amendment 98 #
Proposal for a regulation
Recital 11 a (new)
Recital 11 a (new)
(11a) The investments supported under EFSI should contribute to the aim of Article 194 (1) of the Treaty in particular promoting energy efficiency and energy savings and the development of new and renewable forms of energy and promoting the interconnection of energy networks, and to the Union's strategy for smart, sustainable and inclusive growth adopted in the conclusions of the European Council of 17 June 2010; in order to improve coordination of the Unions investment policies, Regulation 1303/2013 was established with a Common Strategic Framework ('CSF') in order to promote the harmonious, balanced and sustainable development of the Union. This integrated approach should accordingly be applied to operations and projects supported by the EFSI;
Amendment 130 #
Proposal for a regulation
Recital 14 a (new)
Recital 14 a (new)
(14a) When selecting the projects eligible under EFSI support, specific attention should be given to energy efficiency; when deciding on projects for energy generation or energy transport, it should be assessed whether the goals in terms of security of supply cannot be reached in a more sustainable and cost-effective way by reducing energy demand or raising energy efficiency instead; this to ensure that energy efficiency projects are competing on equal terms with projects that are aimed at increasing energy supply or developing new infrastructures;
Amendment 229 #
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12a) Taking into account that creative industries in Europe make a substantial contribution to the EU economy, creating more than €550 billion in value added to the GDP and providing 8.3 million full-time jobs, financing under the EFSI should also foster investment and growth in the creative and cultural sector and strengthen Europe's cultural and creative industries, in particular start- ups, innovative SMEs and creative businesses.
Amendment 262 #
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal and economic value. In particular, the EFSI should target projects that promote job creation, long- term growth and competitiveness. The EFSI should support a wide range of financial products, including equity, debt or guarantees, to best accommodate the needs of the individual project. This wide range of products should allow the EFSI to adapt to market needs whilst encouraging private investment in the projects. The EFSI should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money. The requirement for consistency with State aid principles should contribute to such effective and strategic use. With the aim to better protect and reap commercial and economic benefits from EU co-funded initiatives, a set of rules as established in Horizon 2020 concerning the exploitation and dissemination of project results, including their protection through intellectual property, should be respected by the participants of EFSI projects.
Amendment 293 #
Proposal for a regulation
Recital 15
Recital 15
(15) The EFSI should target projects with a higher risk-return profile than existing EIB and Union instruments to ensure additionality over existing operations. The EFSI should finance projects across the Union, including in the countries most affected by the financial crisis. The EFSI should only be used where financing is not available from other sources on reasonable terms.
Amendment 321 #
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16a) When carrying out the tasks conferred on them by this Regulation, the governing bodies of the EFSI (namely, the Steering Board and the Investment Committee) should act independently and in the interests of the EFSI and should not seek or take instructions from any public or private body.
Amendment 347 #
Proposal for a regulation
Recital 17 a (new)
Recital 17 a (new)
(17a) The Investment Committee should establish a set of transparent, fair and objective criteria for project evaluation, which should be publicly known and which should serve the Investment Committee in their deliberations. The results of the deliberations of the Investment Committee should be publicly known.
Amendment 386 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point c
Article 5 – paragraph 2 – subparagraph 1 – point c
(c) expansion of renewable energy and, energy efficiency and resource efficiency, with a particular focus on reducing energy demand through demand-side management and buildings refurbishments;
Amendment 394 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point c
Article 5 – paragraph 2 – subparagraph 1 – point c
(c) expansion of renewable energy and energy and resource efficiencydevelopment of electricity interconnections, including connecting grids to off-shore wind facilities; expansion of renewable energy capabilities, including projects resulting from the implementation of the renewables energy directive cooperation mechanisms, particularly with regard to off-shore wind energy generation;
Amendment 417 #
Proposal for a regulation
Recital 23 a (new)
Recital 23 a (new)
(23a) As national contributions to the EFSI will not be taken into account by the Commission when defining the fiscal adjustment under the preventive and the corrective arm of the Stability and Growth Pact, Eurostat should adopt as soon as possible the rules for the statistical recording and categorisation of Member State contributions to EFSI in order to create predictability and certainty for Member States when they prepare their presentation of their stability and convergence programmes and national reform programmes.
Amendment 571 #
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 2
Article 1 – paragraph 1 – subparagraph 2
The purpose of the EFSI shall be to support investments in the Union and to ensure increased access to financing for companies having up to 3000 employees, with a particular focus on small and medium-sized enterprises, through the supply of risk bearing capacity to the EIB ('EFSI Agreement'), taking into account the considerable financing needs of start- ups, innovative technology-based companies and creative businesses.
Amendment 591 #
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
2. The EFSI Agreement shall be open to accession by Member States. Subject to the consent of existing contributors, the EFSI Agreement shall also be open to accession by other third parties within the European Union, including national promotional banks or public agencies owned or controlled by Member States, and private sector entities.
Amendment 672 #
Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point j a (new)
Article 2 – paragraph 1 – subparagraph 1 – point j a (new)
Amendment 695 #
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 1
Article 2 – paragraph 2 – subparagraph 1
The EFSI Agreement shall provide for the creation of a European Investment Advisory Hub ('EIAH') within the EIB. The EIAH shall have as its objective to build upon existing EIB and Commission advisory services in order to provide advisory support for investment project identification, preparation and development and act as a single technical advisory hub for project financing within the Union. This shall include support on the use of technical assistance for project structuring, attracting private sector investment, use of innovative financial instruments, use of public-private partnerships and advice, as appropriate, on relevant issues of EU legislation.
Amendment 722 #
Proposal for a regulation
Article 2 – paragraph 2 – subparagraph 3
Article 2 – paragraph 2 – subparagraph 3
The EIAH shall be partially financed by the Union up to a maximum amount of EUR 20 000 000 per year during the period ending on 31 December 2020 for the additional services provided for by the EIAH over existing EIB technical assistance. For the years after 2020 the financial contribution from the Union shall be directly linked to the provisions included in the future multi-annual financial frameworks. The Commission shall make every effort to create synergies between the Union's numerous funding and investment advisory services. The EIAH should be capable of signposting to all other EU funding streams.
Amendment 766 #
Proposal for a regulation
Article 3 – paragraph 1 a (new)
Article 3 – paragraph 1 a (new)
1a. When carrying out the tasks conferred on them by this Regulation, the governing bodies of the EFSI referred to in this Article shall act independently and in the interests of the EFSI and shall not seek or take instructions from any public or private body.
Amendment 858 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2
Article 3 – paragraph 5 – subparagraph 2
The Investment Committee shall be composed of sixeight independent experts and the Managing Director. Independent experts shall have a high level of relevant market experience in project finance andstructuring and projects financing as well as macroeconomic expertise. The Investment Committee shall encompass a broad range of expertise in various sectors, such as research, development and innovation, SMEs, and transport. It will also contain a mix of long-term and short-term investment expertise. It shall be appointed by the Steering Board for a renewable fixed term of three years.
Amendment 867 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2
Article 3 – paragraph 5 – subparagraph 2
The Investment Committee shall be composed of six independent experts and the Managing Director. Independent experts shall have a high level of relevant market experience in project finance and be appointed by the Steering Board for a renewable fixed term of three years. At least of or more of the investment committee members will have a background in 'investment in education and training' and 'research and development and innovation'.
Amendment 909 #
Proposal for a regulation
Article 5 – paragraph 1 a (new)
Article 5 – paragraph 1 a (new)
1a. High quality and up-to-date data is critical to EFSI's success and its analysis. The steering board must, in collaboration stakeholders, agree a framework for the data required to support preparation, assurance and scrutiny of projects. This data collection should be broad enough in scope, and continue for as long as is necessary for independent researchers to properly analyse success or failure and should be publicly available.
Amendment 920 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – introductory part
Article 5 – paragraph 2 – subparagraph 1 – introductory part
The EU guarantee shall be granted for EIB financing and investment operations approved by the Investment Committee referred to in Article 3(5) or funding to the EIF in order to conduct EIB financing and investment operations in accordance with Article 7(2). The operations concerned shall be consistent with Union policies andmust support anyt least some of the following general objectives:
Amendment 947 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point a
Article 5 – paragraph 2 – subparagraph 1 – point a
(a) development of infrastructure, including in the areas of transport, particularly in industrial centres; energy, in particular energy interconnections; and digital infrastructure, in particular broadband and digital infrastructure for cultural and creative industries;
Amendment 967 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point b
Article 5 – paragraph 2 – subparagraph 1 – point b
(b) investment in education and training, health, research and development, information and communications technology and, innovation, creativity and culture;
Amendment 982 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point c
Article 5 – paragraph 2 – subparagraph 1 – point c
(c) expansion of renewable energy and energy and resource efficiency, in particular energy efficiency improvement of housing ;
Amendment 996 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point d
Article 5 – paragraph 2 – subparagraph 1 – point d
(d) infrastructure projects in the environmental, and natural resources, urban development and social fields; ;
Amendment 997 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point d a (new)
Article 5 – paragraph 2 – subparagraph 1 – point d a (new)
(da) social infrastructures projects in the social field built environment and urban development and services including social housing and public buildings.
Amendment 1006 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
(ea) (f) creation of sustainable employment; (g) development of digital infrastructure, information and communications technology and innovation including cultural and creative industries;
Amendment 1076 #
Proposal for a regulation
Article 5 a (new)
Article 5 a (new)
Article 5 a Public Assets Where private actors will be delivering and maintaining public assets over time, contracts that include an EU guarantee should have clear contractual arrangements to ensure that charges levied are both reasonable and equitable, reflecting appropriate allocation of risk between different parties.
Amendment 1217 #
Proposal for a regulation
Article 9 – paragraph 3 a (new)
Article 9 – paragraph 3 a (new)
3a. The pipeline should be highly visible and user-friendly for all targeted users
Amendment 1222 #
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. The EIB, in cooperation with the EIF as appropriate, shall report semi-annually to the European Parliament, the Council and the Commission on EIB financing and investment operations under this Regulation. The report shall include an assessment of compliance with the requirements on the use of the EU guarantee and the key performance indicators established pursuant to Article 2(1)(g). The report shall also include statistical, financial and accounting data on each EIB financing and investment operation and on an aggregated basis.
Amendment 1303 #
Proposal for a regulation
Article 11 – paragraph 3 a (new)
Article 11 – paragraph 3 a (new)
3a. In the event that EFSI invests in projects that go against the principles outlined in this document, steering board members will be held accountable by The European Parliament, which may remove board members.
Amendment 1369 #
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
1. In its financing and investment operations, the EIB shall not support any activities carried out for illegal purposes, including money laundering, financing of terrorism, tax fraud and tax evasion, corruption, or fraud affecting the financial interests of the Union. In particular the EIB shall not participate in any financing or investment operation through a vehicle located in a non-cooperative jurisdiction, in line with its policy towards weakly regulated or non-cooperative jurisdictions based on policies of the Union, the Organisation for Economic Cooperation and Development or the Financial Action Task Force. EFSI shall not be used to support the privatisation of public services.
Amendment 1395 #
Proposal for a regulation
Article 18
Article 18
Regulation (EU) No 1291/2013
Article 6, paragraphs 1, 2 and 3
Article 6, paragraphs 1, 2 and 3
Amendment 1438 #
Proposal for a regulation
Article 19
Article 19
Regulation (EU) No 1316/2013
Article 5
Article 5