16 Amendments of Lukas MANDL related to 2018/0178(COD)
Amendment 159 #
Proposal for a regulation
Recital 10 a (new)
Recital 10 a (new)
(10 a) In order to deliver an effective environmental and sustainability impact, to decrease unnecessary administrative burden on financial market participants and to facilitate the growth of European financial markets funding sustainable economic activities, the taxonomy should be based on harmonised, comparable and uniform criteria. Any overlap in regulation or pre-emptive legislative action must be avoided which would not be in line with the principles of better regulation and proportionality, the aim to create a consistent terminology and a clear regulatory framework or would lead to an unnecessary burdening of both, authorities and financial institutions.
Amendment 170 #
Proposal for a regulation
Recital 13 a (new)
Recital 13 a (new)
(13 a) To ensure effective and efficient legislative action without creating potential overlaps, bureaucratic burden or additional costs for the real economy, the scope and use of the technical screening criteria as well as the link to other initiatives should be clearly defined before the taxonomy and pertaining criteria enter into force.
Amendment 212 #
Proposal for a regulation
Recital 26
Recital 26
(26) When establishing and updating the technical screening criteria the Commission should also take into account the specificities of the infrastructuredifferent sectors and take into account environmental, social and economic externalities within a cost- benefit analysis. In that regard, the Commission should consider the work of international organisations, such as the OECD, relevant Union legislation and standards, including Directive 2001/42/EC of the European Parliament and of the Council42 , Directive 2011/92/EU of the European Parliament and of the Council43 Directive 2014/23/EU of the European Parliament and of the Council44 , Directive 2014/24/EU of the European Parliament and of the Council45 , Directive 2014/25/EU of the European Parliament and of the Council46 , and current methodology. In that context, the technical screening criteria should promote appropriate governance frameworks integrating environmental, social and governance factors, as referred to in the United Nations-supported Principles for Responsible Investment47 , at all stages of a project's lifecycle. _________________ 42 Directive 2001/42/EC of the European Parliament and of the Council of 27 June 2001 on the assessment of the effects of certain plans and programmes on the environment (OJ L 197, 21.7.2001, p. 30). 43 Directive 2011/92/EU of the European Parliament and of the Council of 13 December 2011 on the assessment of the effects of certain public and private projects on the environment (OJ L 26, 28.1.2012, p. 1). 44 Directive 2014/23/EU of the European Parliament and of the Council of 26 February 2014 on the award of concession contracts (OJ L 94, 28.3.2014, p. 1). 45 Directive 2014/24/EU of the European Parliament and of the Council of 26 February 2014 on public procurement and repealing Directive 2004/18/EC (OJ L 94, 28.3.2014, p. 65). 46 Directive 2014/25/EU of the European Parliament and of the Council of 26 February 2014 on procurement by entities operating in the water, energy, transport and postal services sectors and repealing Directive 2004/17/EC (OJ L 94, 28.3.2014, p. 243). 47 https://www.unpri.org/download?ac=1534.
Amendment 218 #
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 amajor economic specific sectortors, including among others agriculture, construction, energy, transportation and production, 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 theindustry specific criteria. However, within each sector, those criteria should not unfairly disadvantage certain economic activities over others if the former contribute towards the environmental objectives to the same extent as the latter.
Amendment 225 #
Proposal for a regulation
Recital 30
Recital 30
(30) To ensure that investments are channelled towards economic activities that make the biggest positive impact on the environmental objectives, the Commission should give priority to the establishment of technical screening criteria for the economic activities that potentially contribute most to the environmental objectives. Screening criteria should be based on the outcomes of projects to facilitate the identification and development of new technologies as well as to take duly into account of the scalability of these technologies.
Amendment 230 #
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 should also involve relevant stakeholders and build on scientific evidence, socio-economic impact, best practice and the advice of experts with proven knowledge and experience in all of the relevant areas. For that purpose, the Commission should set up a Platform on sustainable finance. This Platform should be composed of a wide range of experts representing both the public and the private sector to ensure that the specificities of all relevant sectors are duly taken into account. Public sector representatives should include experts from the European Environmental Agency, the European Supervisory Authorities and the European Investment Bank. Private sector experts should include representatives of relevant stakeholders, including financial market actors, representatives of the real economy including the manufacturing industry, 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 were considered as green assets under existing market practices. The Platform should also advise the Commission on wthether suitability of the technical screening criteria are suitable for further uses in future Union policy initiatives aimed at facilitating sustainable investment.
Amendment 265 #
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 relevant market actors in respect of financial products or corporate bonds thatwhich are marketed as environmentally sustainable.
Amendment 274 #
Proposal for a regulation
Article 1 – paragraph 2 – point b
Article 1 – paragraph 2 – point b
(b) financial market participants which are offering financial products as environmentally sustainable investments or as investments havingthat have similar characteristics.
Amendment 284 #
Proposal for a regulation
Article 1 – paragraph 2 a (new)
Article 1 – paragraph 2 a (new)
2 a. These criteria shall apply to investment decisions falling under the scope of this Regulation which are taken after the entry into force of this Regulation.
Amendment 312 #
Proposal for a regulation
Article 2 – paragraph 1 – point n
Article 2 – paragraph 1 – point n
(n) '’sustainable forest management'’ means using forests and forest land in a way, and at a rate, that maintains their biodiversity, productivity, regeneration capacity, vitality and their pccordance with applicable national legislation building on the SFM definition adopted in the Ministerial Conference of Protenctial to fulfil, now and in the future, relevant ecological, economic and social functions, at local, national, and global levels, and that does not cause damage to other ecosystemson of Forests in Europe (MCPFE), the commitments stemming from the LULUCF Regulation as well as from the EU Timber Regulation.
Amendment 356 #
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 may inform the Commission. The Commission shall, if appropriate, notify the Platform on Sustainable Finance of such requests by the financial market participants.
Amendment 489 #
Proposal for a regulation
Article 11 – paragraph 1 – point d
Article 11 – paragraph 1 – point d
(d) sustainable forest management, defined by as using forests and forest land in accordance with applicable national legislation building on the SFM definition adopted in the Ministerial Conference of Protection of Forests in Europe (MCPFE), the commitments stemming from the LULUCF Regulation as well as from the EU Timber Regulation.
Amendment 540 #
Proposal for a regulation
Article 14 – paragraph 1 – point f
Article 14 – paragraph 1 – point f
(f) take into account the environmental impacts of the economic activity itself, as well as of the products and services provided by that economic activity, notably by considering their entire value chain and life-cycle, including production, use, recycling and end-of-life;
Amendment 565 #
Proposal for a regulation
Article 15 – paragraph 1 – point b
Article 15 – paragraph 1 – point b
(b) experts representing relevant private stakeholders, including financial and non-financial market actors, representatives of the real economy including the manufacturing industry, universities, research institutes, associations and organisations;
Amendment 605 #
Proposal for a regulation
Article 15 – paragraph 3
Article 15 – paragraph 3
3. The Platform on Sustainable Finance shall be chaired by the Commission and may carry out public consultations on specific matters within its mandate.
Amendment 618 #
Proposal for a regulation
Article 16 – paragraph 4
Article 16 – paragraph 4
4. Before adopting athe delegated acts referred to in Articles 4(3), 6(2), 7(2), 8(2), 9(2), 10(2) and 11(2), the Commission shall consult experts designated by each Member State and assess their impact in accordance with the principles laid down in the Interinstitutional Agreement of 13 April 2016 on Better Law-Making.