25 Amendments of Javi LÓPEZ related to 2020/0108(COD)
Amendment 4 #
Proposal for a regulation
Recital 1
Recital 1
(1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of strategic industries on non-diversified external supply sources. Such vulnerabilities need to be addressed, to improve the Union’s emergency response as well as the resilience of the entire economy, while maintaining its openness to competition and trade in line with its rules. Investment activity is expected to have dropped significantly. Even before the pandemic, while a recovery in investment-to-GDP ratios in the Union could be observed, it remained below what might be expected in a strong recovery and was insufficient to compensate for years of underinvestment following the 2009 crisis. More importantly, the current investment levels and forecasts do not cover the Union’s needs for structural investment to restart and sustain long-term growth in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium- sized enterprises (SMEs) and the need to address key societal and environmental challenges such as sustainability, the impacts of climate change or population ageing. Consequently, in order to achieve the Union's policy objectives and to support a swift, just, inclusive, sustainable and healthy economic recovery, support is necessary to address market failures and sub-optimal investment situations and to reduce the investment gap in targeted sectors.
Amendment 8 #
Proposal for a regulation
Recital 1 a (new)
Recital 1 a (new)
(1 a) The disruptive economic and social effect of the COVID-19 crisis weakens public and private investment capacity thus limiting the financial resources essential for the transition to a climate neutral and resource efficient Union. In this regard, in the framework of Next Generation EU, InvestEU should contribute to reducing this gap.
Amendment 9 #
Proposal for a regulation
Recital 3
Recital 3
(3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable and inclusive growth and jobs, such as 'Europe 2020 - A strategy for smart, sustainable and inclusive growth' of 3 March 2010, 'Action Plan on Building a Capital Markets Union' of 30 September 2015, 'A new European Agenda for Culture' of 22 May 2018, 'Clean Energy for all Europeans' of 30 November 2016, 'Closing the loop - An EU action plan for the Circular Economy' of 2 December 2015, 'A European Strategy for Low- Emission Mobility' of 20 July 2016, ‘European Defence Action Plan’ of 30 November 2016, 'Launching the European Defence Fund' of 7 June 2017, 'Space Strategy for Europe' of 26 October 2016, the Interinstitutional Proclamation on the European Pillar of Social Rights of 13 December 2017, the ‘European Green Deal’ of 11 December 2019, the ‘European Green Deal Investment Plan’ of 14 January 2020, the ‘Strong Social Europe for Just Transitions’ of 14 January 2020, the ‘ Strategy for shaping Europe’s digital future’, the ‘Data Strategy’ and the ‘Artificial Intelligence Communication’ of 19 February 2020, ‘A New Industrial Strategy for Europe’ of 10 March 2020 and, ‘SME Strategy for a sustainable and digital Europe’ of 10 March 2020, 'A new Circular Economy Action Plan For a cleaner and more competitive Europe' of 11 March 2020, 'An EU Biodiversity Strategy for 2030' of 20 May 2020 and 'A Farm to Fork Strategy for a fair, healthy and environmentally-friendly food system' of 20 May 2020. The InvestEU Fund should exploit and reinforce synergies between those mutually reinforcing strategies through providing support to investment and access to financing.
Amendment 24 #
Proposal for a regulation
Recital 10
Recital 10
(10) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement on Climate Change and the SDGs, the InvestEU Programme will contribute to mainstream climate and environmental actions and to the achievement of an overall target of 25 % of the Union budget expenditures supporting climate objectives and an annual target of 30 % as soon as possible and at the latest by 2027. Actions under the InvestEU Programme are expected to contribute 3at least 40 % of the overall financial envelope of the InvestEU Programme to climate and environmental objectives. Relevant actions will be identified during the InvestEU Programme's preparation and implementation and reassessed in the context of the relevant evaluations and review processes.
Amendment 45 #
Proposal for a regulation
Recital 14
Recital 14
(14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, job creations, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long- term. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets as defined in the European Green Deal, including the Union’s commitments towards the SDGs, and the Paris Agreement, the 2030 energy and climate targets and the Union commitment to a climate neutral economy by the 2050 at the latest. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy sources and other safe and sustainable low- emission energy sources, environmental infrastructure, infrastructure related to climate actioncluding biodiversity conservation and restoration, natural-based solutions and green infrastructure, infrastructure related to climate mitigation and adaptation, waste prevention and circular economy infrastructure, maritime infrastructure and digital infrastructure. The InvestEU Programme should prioritise areas that are under-invested, and in which additional investment is required. To maximise the impact and added value of Union financing support, it is appropriate to promote a streamlined investment process that enables visibility of the project pipeline and maximises synergies across relevant Union programmes in areas such as transport, energy and digitisation. Bearing in mind threats to safety and security, investment projects receiving Union support should include measures for infrastructure resilience, including infrastructure maintenance and safety, and should take into account principles for the protection of citizens in public spaces. This should be complementary to the efforts made by other Union funds that provide support for security components of investments in public spaces, transport, energy and other critical infrastructure, such as the European Regional Development Fund.
Amendment 50 #
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15 a) The InvestEU Programme should contribute to the Union's climate objectives laid down in [Regulation (EU) 2020/XXX establishing the framework for achieving climate neutrality and amending Regulation (EU) 2018/1999 ("European Climate Law")] and should not finance projets that are inconsistent with the achievement of the Union's climate objectives.
Amendment 51 #
Proposal for a regulation
Recital 18
Recital 18
(18) Although the level of overall investment in the Union was increasing before the Covid-19 crisis, investment in higher-risk activities such as research and innovation was still inadequate and is now expected to have suffered a significant hit with the crisis. The resulting underinvestment in research and innovation is damaging to the industrial and economic competitiveness of the Union and the quality of life of its citizens. The InvestEU Fund should provide appropriate financial products to cover different stages of the innovation cycle and a wide range of stakeholders, in particular to allow the upscaling of and deployment of solutions at a commercial scale in the Union in order to make such solutions competitive on world markets and to promote Union excellence in sustainable, circular and low carbon technologies at a global level, in synergy with Horizon Europe, including the European Innovation Council. In that regard, the experience gained from the financial instruments, such as InnovFin – EU Finance for Innovators, deployed under Horizon 2020 to facilitate and accelerate access to finance for innovative businesses should serve as a strong basis to deliver this targeted support.
Amendment 54 #
Proposal for a regulation
Recital 24
Recital 24
(24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically viable projects to crowd in private finance is particularly valuable and should be reinforced , inter alia in order to counteract the risk of an asymmetric recovery. The InvestEU Programme should be able to provide crucial support to companies in the recovery phase and at the same time ensure a strong focus of investors on the Union’s medium- and long-term policy priorities such as the European Green Deal, the European Green Deal Investment Plan, the Strategy on shaping Europe’s digital future and the Strong Social Europe for Just Transitions. These operations should support the creation or preservation of quality and sustainable jobs within the Union as well as contribute to the transition towards a climate neutral European economy and its digital transition. It should significantly increase the risk-taking capacity of the European Investment Bank (EIB) Group and national promotional banks and institutions and other implementing partners in support of economic recovery.
Amendment 60 #
Proposal for a regulation
Recital 28
Recital 28
(28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green andtransition towards a climate neutral European economy and its digital transitions and of enhanced resilience in areas of (i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and, medical supplies and vaccines , strengthening of health crisis response capacity and of the civil protection system,the resilience of healthcare and health systems in preparation for future crisis response capacity and of the civil protection system, (ia) critical sustainable infrastructure to move to a de-carbonised, circular and environmentally sustainable sound European economy in line with the Union´s climate objective (ii) critical infrastructure, whether physical or virtual; (iii) provision of goods and services instrumental to the operation and maintenance of such infrastructure, (iv) key enabling, transformative, greesustainable, circular, low carbon and digital technologies and game-changing innovations where the investment is strategically important for the Union’s sustainable industrial future, including artificial intelligence, blockchain, software, robotics, semiconductors, microprocessors, edge cloud technologies, high-performance computing, cybersecurity, quantum technologies, photonics, industrial biotechnology, digital technologies for tracking, tracing and mapping of resources, renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies, cleagreen hydrogen and fuel cell applications, decarbonisation technologies for industry, carbon capture and storage, waste prevention, circular economy and bioeconomy technologies, biomedicine, nanotechnologies, pharmaceuticals and renewable, circular and advanced materials; (v) manufacturing facilities for mass production of Information Communication and Technology components and devices in the EU; (vi) supply and stockpiling of critical inputs to public actors, businesses or consumers in the Union; (vii) critical technologies and inputs for the security of the Union and its Member States, such as defence and space sectors and cybersecurity, and dual use items as defined in point 1 of Article 2 of Council Regulation (EC) No 428/2009. The final recipients should have their registered office in a Member State and they should be active in the Union in the sense that they have substantial activities in terms of staff, manufacturing, research and development or other business activities in the Union. Projects which contribute to diversification of strategic supply chains in the Single Market through operations in multiple locations across the EU should be able to benefit.
Amendment 64 #
Proposal for a regulation
Recital 28 a (new)
Recital 28 a (new)
(28 a) The InvestEU Fund provided under the strategic European investment window should support infrastructure with a view to strengthening the resilience of healthcare and health systems in preparation for future pandemics, including the performance of stress tests of national and regional healthcare systems, improve the health status in societies, have healthier people therefore less susceptible to health threats and boost the creation of the European health Union.
Amendment 65 #
Proposal for a regulation
Recital 28 b (new)
Recital 28 b (new)
(28 b) The European Council, in its Conclusions of 12 December 2019 , has agreed on the objective of achieving a climate-neutral Union by 2050, in line with the objectives of the Paris Agreement, while also recognising that it is necessary to put in place an enabling framework and that the transition will require significant public and private investment. The InvestEU fund provided under the strategic European investment window should support critical sustainable infrastructure in the sectors which has submitted a roadmap to the Commission setting out how and by which date the sector can reduce its emissions to close to zero, and identifying obstacles and opportunities as well as the technological solutions that would need to be developed and investments that would need to be made within the sector.
Amendment 67 #
Proposal for a regulation
Recital 29
Recital 29
(29) The strategic European investment window should also target suppliers established and operating in the Union whose activities are of strategic importance to the Union and that would need long term investment or are covered by the Foreign Direct Investment Screening mechanism. In addition, important projects of common European interest should in particular be able to benefit from the strategic European investment window. However, financial support should not be provided when a project is inconsistent with the achievement of the European Green Deal, the Union's climate objectives and the Paris agreement objectives.
Amendment 70 #
Proposal for a regulation
Recital 30
Recital 30
(30) The InvestEU should also provide support to financing to generate investment to the benefit of just transition regions, in line with the objectives identified in their just transition plans, and should be consistent with Article 5 of Regulation (EU) …/… (JTF Regulation).
Amendment 109 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – introductory part
Article 7 – paragraph 1 – point e – introductory part
(e) a strategic European investment policy window which comprises strategic investment to support final recipients that are established in a Member State and that operate in the Union, and whose activities are of strategic importance to the Union, in particular in view of the green andtransition towards a sustainable and climate neutral European economy and its digital transitions and of enhanced resilience , complying with the “do no significant harm” principle and the EU taxonomy established by Regulation (EU) 2020/852, in one of the following areas:
Amendment 113 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – point i
Article 7 – paragraph 1 – point e – point i
i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and, medical supplies and vaccines , strengthening of health crisis response capacitythe resilience of healthcare and health systems in preparation for future crisis response capacity, including the performance of stress tests of national and regional healthcare systems, and of the civil protection system;
Amendment 117 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – point i a (new)
Article 7 – paragraph 1 – point e – point i a (new)
i a) critical sustainable infrastructure to move to a de-carbonised, circular and environmentally sustainable European economy and society in line with the Union's climate objectives laid down in [Regulation (EU) 2020/XXX establishing the framework for achieving climate neutrality and amending Regulation (EU)2018/1999 ("European Climate Law");
Amendment 119 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – point ii
Article 7 – paragraph 1 – point e – point ii
ii) critical infrastructure, whether physical or virtual, including infrastructure elements identified as critical in the fields of energy, transport, environment, health, food safety, secure digital communication, 5G, internet of things, online service platforms, secure cloud computing, data processing or storage, payments and financial infrastructure, aerospace, defence, communications, media, education and training, electoral infrastructure and sensitive facilities, as well as land and real estate crucial for the use of such critical infrastructure;
Amendment 124 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – point iv – introductory part
Article 7 – paragraph 1 – point e – point iv – introductory part
iv) key enabling, transformative, greesustainable, circular, low carbon and digital technologies and game- changing innovations where the investment is strategically important for the Union’s sustainable industrial future, including
Amendment 126 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – point iv – point a
Article 7 – paragraph 1 – point e – point iv – point a
(a) artificial intelligence, blockchain, software, robotics, semiconductors, microprocessors, edge cloud technologies, high-performance computing, cybersecurity, quantum technologies, photonics, industrial biotechnology, digital technologies for tracking, tracing and mapping of resources,
Amendment 130 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – point iv – point b
Article 7 – paragraph 1 – point e – point iv – point b
(b) renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies, cleagreen hydrogen and fuel cell applications, decarbonisation technologies for industry, carbon capture and storage, circular waste prevention, circular economy and bioeconomy technologies,
Amendment 137 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – point iv – point c
Article 7 – paragraph 1 – point e – point iv – point c
(c) biomedicine, nanotechnologies, pharmaceuticals and advanced, renewable and circular materials;
Amendment 139 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – point v
Article 7 – paragraph 1 – point e – point v
v) manufacturing facilities for mass production of Information Communication and Technology components and devices in the EU having regard to resource efficiency, waste prevention and circularity in the value chains;
Amendment 142 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – point vi
Article 7 – paragraph 1 – point e – point vi
vi) supply and stockpiling of critical inputs to public actors, businesses or consumers in the EU, including energy or raw materials or food security or pharmaceuticals, having regard to resource efficiency, waste prevention and circularity in strategic value chains;
Amendment 145 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – point vii – paragraph 1 a (new)
Article 7 – paragraph 1 – point e – point vii – paragraph 1 a (new)
Access to the finacing made available under the strategic European investment policy window shall be conditional on the endorsement and demonstration of Member States commitment to the Union objective of climate neutrality and individual Member States climate neutrality objective by 2050 at the latest, as well as on the adoption of a long-term strategy as referred to in Article 15 of Regulation(EU) 2018/1999.
Amendment 221 #
Proposal for a regulation
Annex III – point 8 – point 8.2 a (new)
Annex III – point 8 – point 8.2 a (new)