92 Amendments of Tilly METZ related to 2018/0229(COD)
Amendment 47 #
Proposal for a regulation
Recital 1
Recital 1
(1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs 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 challenges such as sustainability or population ageing. Consequently, continued support is necessary to address market failures and sub-optimal investment situations to reduce the investment gap in targeted sectors to achieve the Union's policy objectives. In that regard, the primary aim of the InvestEU Programme should be to support otherwise difficult to fund projects that provide European citizen with long-term environmental and societal benefits such as high quality long-term jobs and public infrastructure. It is therefore much more important to identify and support projects that provide this genuine additionality and quality rather than being driven by technical aspects such as leverage factors or project speed and volumes.
Amendment 58 #
Proposal for a regulation
Recital 5
Recital 5
(5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, the sustainability of the Union's economic growth, the social resilience and inclusiveness and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners. It should be demand-driven while support under the InvestEU Fund should at the same time focus on providing strategic, long-term societal and environmental benefits in key areas of EU policy which would otherwise not be funded, thus contributing to meeting policy objectives of the Union.
Amendment 69 #
Proposal for a regulation
Recital 6
Recital 6
(6) The InvestEU Fund should support investments in tangible and intangible assets to foster growth, investment and employment, that are also resilient to climate change, and thereby contributing to an improved environment, well-being and fairer income distribution in the Union. Intervention through the InvestEU Fund should complement Union support delivered through grants.
Amendment 71 #
Proposal for a regulation
Recital 7
Recital 7
(7) The Union endorsed the objectives set out in the United Nations Agenda 2030 and its Sustainable Development Goals and the Paris Agreement in 2015 as well as the Sendai Framework for Disaster Risk Reduction 2015-2030. To achieve the agreed objectives, including those embedded in the environmental policies of the Union, action pursuing sustainable development is to be stepped up significantly. Therefore, the principles of sustainable development, safety and climate-proofing should feature prominently in the design of the InvestEU Fund, which means that fossil fuel infrastructure and nuclear installations in the power sector should not be funded.
Amendment 73 #
Proposal for a regulation
Recital 9
Recital 9
(9) Reflecting the importance of tackling climate change in line with the Union’s climate related long-term objective and remaining carbon budget, the Union's commitments to implement the Paris Agreement 1a and the United Nations Sustainable Development Goals, the InvestEU Programme will contribute to mainstream climate actions and to the achievement of an overall target of 25 50% of the Union budget expenditures supporting climate objectives. Actions under the InvestEU Programme are expected to contribute 30 at least 60% of the overall financial envelope of the InvestEU Programme to climate 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. Climate mainstreaming and climate proofing mechanisms should be unified by reforming, expanding and centralising the Rio Marker system, in order to differentiate between sectors, as well as between mitigation and adaptation. Additionally, infrastructure investment planning shall fully consider the ‘Energy Efficiency first’ assessments, as set out in the [Regulation on the Governance of the Energy Union]. _________________ 1a In particular Article 2.1c on Alignment of financial flows with a climate resilient development
Amendment 77 #
Proposal for a regulation
Recital 9 a (new)
Recital 9 a (new)
(9a) With regard to cost of capital of renewable energy projects, the InvestEU Fund should allow for the use of an innovative guarantee instrument to reduce regulatory risk and associated high cost of capital in some Member States. This possibility should be open on a voluntary basis. To achieve this objective, the InvestEU Fund should contribute where appropriate to the enabling framework for investment into renewable energy as set out in Art 3.5 of the [revised Renewables Directive], including the financing mechanism established by Article 27bis of the [Governance Regulation].
Amendment 80 #
Proposal for a regulation
Recital 10
Recital 10
(10) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through an EU climate tracking system developed by the Commission in cooperation with implementing partners and using in an appropriate way the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment14 ] for determining whether an economic activity is environmentally sustainable. The InvestEU Fund will also contribute to implementing the Sustainable Development Goals (SDGs) into EU policies and initiatives, with sustainable development as an essential guiding principle. _________________ 14 COM(2018)353.
Amendment 84 #
Proposal for a regulation
Recital 11
Recital 11
(11) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include air, soil and water pollution, extreme weather events, biodiversity losses and failures of climate-change mitigation and adaptation. Environmental principles are strongly embedded in the Treaties and many of the Union's policies. Therefore, the mainstreaming of environmental objectives should be promoted in the InvestEU Fund related operations. Environmental protection and related risk prevention and management should be integrated in the preparation and implementation of investments. The EU should also track its biodiversity-related and air pollution control-related expenditure in order to fulfil the reporting obligations under the Convention on Biological Diversity and Directive (EU) 2016/2284 of the European Parliament and of the Council. 15 Investment allocated to environmentally sustainability objectives should therefore be tracked using common methodologies coherent with that developed under other Union programmes applying to climate, biodiversity and air pollution management in order to allow assessing the individual and combined impact of investments on the key components of the natural capital, including air, water, land, soil and biodiversity. _________________ 15 Directive (EU) 2016/2284 of the European Parliament and of the Council of 14 December 2016 on the reduction of national emissions of certain atmospheric pollutants, amending Directive 2003/35/EC and repealing Directive 2001/81/EC (OJ L 344, 17.12.2016, p. 1).
Amendment 85 #
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12a) The InvestEU Programme should also integrate the gender perspective in all its working and decision making processes, make sure that committees and projects teams are gender balanced and ensure that the implementation of this fund contributes to the promotion of gender equality in compliance with EU gender mainstreaming obligations (article 8 TFEU).
Amendment 90 #
Proposal for a regulation
Recital 13
Recital 13
(13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable iInvestments in the European infrastructure, notably interconnection and energy efficiency are fundamental to meet the Union's sustainability targets, including the Union’s commitments towards the SDGs, and the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into sustainable development- compatible projects on transport, energy, including energy efficiency and renewable energy, environmental, climate action, maritime and digital infrastructure. InvestEU shall prioritise the most significantly under-invested areas that require the most additional investment to meet the Union’s sustainability targets, such as energy efficiency. To maximise the impact and the value added of Union financing support, it is appropriate to promote a streamlined, climate-proof investment process enabling visibility of the project pipeline and consistency across relevant Union programmes. Bearing in mind security threats, investment projects receiving Union support 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 such as the European Regional Development Fund providing support for security components of investments in public spaces, transport, energy and other critical infrastructure.
Amendment 96 #
Proposal for a regulation
Recital 14
Recital 14
(14) Whereas the level of overall investment in the Union is increasing, investment in higher-risk activities such as research and innovation is still inadequate. 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 the appropriate financial products to cover different stages in the innovation cycle and a wide range of stakeholders, in p. 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 marketsimportance should be given to promoting EU excellence in green technologies at global level.
Amendment 99 #
Proposal for a regulation
Recital 15
Recital 15
(15) A significant effort is urgently needed to invest in digital transformation and to distribute the benefits of it to all Union citizens and businesses. The strong policy framework of the Digital Single Market Strategy should now be matched by investment of a similar ambition, including in ethical artificial intelligence. (AI). The latter shall be subject to an ex-ante ethical impact assessment. This review must extend beyond the narrow confines of privacy and data protection and take into account the broader societal impacts of the underlying AI agenda. Projects that raise substantial ethical and/or societal impact concerns must be subject to enhanced scrutiny and control and to ethical review.
Amendment 102 #
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15a) As the single market is negatively impacted by the digital divide, created by lack of network access, uneven speeds between regions and lack of knowledge, the digital transformation of the society should empower citizens, especially the young digital natives, to feel secure to use new technologies, learning about privacy, security and basic safeguards that will protect them from malicious activity and increase their potential for the economy. Therefore a comprehensive approach to increase coverage, achieve similar levels of connectivity and equal knowledge for all is needed.
Amendment 103 #
Proposal for a regulation
Recital 16
Recital 16
(16) Small and medium-sized enterprises (SMEs) play a crucial role in the Unionrepresent over 99% of businesses in the Union and their economic value is significant and crucial. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Gender disparities also need to be addressed, as female creativity and entrepreneurial potential are an under- exploited source of growth and jobs that should be further developed. Whereas women constitute 52% of the total European population, they represent only 34.4% of the EU self-employed and 30% of start-up entrepreneurs. Additional challenges arise from SMEs' need to stay competitive by engaging in digitisation, internationalisation and innovation activities and skilling up their workforce. Moreover, compared to larger enterprises, they have access to a more limited set of financing sources: they typically do not issue bonds, have only limited access to stock exchanges or large institutional investors. The challenge in accessing finance is even greater for those SMEs whose activities focus on intangible assets. SMEs in the Union rely heavily on banks and debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges and providing more diversified sources of funding is necessary for increasing the ability of SMEs to finance their creation, growth and development, withstand economic downturns, and for making the economy and the financial system more resilient during economic downturn or shocks. This is also complementary to the initiatives already undertaken in the context of the Capital Markets Union. The InvestEU Fund should provide an opportunity to focus on specific, more targeted financial products. (Numbers from EC retrieved at https://ec.europa.eu/growth/smes/promotin g-entrepreneurship/we-work- for/women_en)
Amendment 111 #
Proposal for a regulation
Recital 17
Recital 17
(17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17 , building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training and health. Investment in the social, skills and human capital- related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. TGiven the significant need for investment into social infrastructure and projects in the fields of social services, healthcare services, education, care and social housing, the InvestEU Fund should be used to support investment in education and training, help increase employment, in particular among the unskilled and long- term unemployed, and improve the situation with regard to gender equality, equal opportunities, intergenerational solidarity, the health sector, homelessness, digital inclusiveness, community development, the role and place of young people in society as well as vulnerable people, including third country nationals. The InvestEU Programme should also contribute to the support of European culture and creativity. To counter the profound transformations of societies in the Union and of the labour market in the coming decade, it is necessary to invest in human capital, microfinance, social enterprise finance and new social economy business models, including social impact investment and social outcomes contracting and forms of employment that support work-life balance and better distribution of care responsibilities. The InvestEU Programme should strengthen nascent social market eco-system, increasing the supply of and access to finance to micro- and social enterprises, to meet the demand of those who need it the most. The report of the High-Level Task- Force on Investing in Social Infrastructure in Europe18 has identified investment gaps in social infrastructure and services, including for education, training, health and housing, which call for support, including at the Union level. Therefore, the collective power of public, commercial and philanthropic capital, as well as support from foundations, should be harnessed to support the social market value chain development and a more resilient Union. _________________ 16 17COM(2017) 206. COM(2017) 206. 17 COM(2017) 250. COM(2017) 250. 18 Published as European Economy Discussion Paper 074 in January 2018.
Amendment 115 #
Proposal for a regulation
Recital 17 a (new)
Recital 17 a (new)
(17a) The projects funded under InvestEU should promote equality between women and men, in particular in research and innovation, by addressing the underlying causes of gender imbalance, by exploiting the full potential of both female and male researchers, and by integrating the gender dimension into the research and innovation content; as well as by paying particular attention to ensuring gender balance in evaluation panels and in other relevant advisory and expert bodies. Activities should also aim at implementation of principles relating to equality between women and men as laid down in Articles 2 and 3 of the Treaty on European Union and in Article 8 TFEU and Directive 2006/54/EC on the implementation of the principle of equal opportunities and equal treatment of men and women in matters of employment and occupation.
Amendment 123 #
Proposal for a regulation
Recital 19
Recital 19
(19) Each policy window should be composed of two compartments, that is to say an EU compartment and a Member State compartment. The EU compartment should address Union-wide market failures or sub-optimal investment situations in a proportionate manner; supported actions should have a clear European added value. The Member State compartment should give Member States the possibility to contribute a share of their resources of Funds under shared management to the provisioning of the EU guarantee to use the EU guarantee for financing or investment operations to address specific market failures or sub- optimal investment situations in their own territory, including in vulnerable and remote areas such as the outermost regions of the Union, to deliver objectives of the Fund under shared management. Actions supported from the InvestEU Fund through either EU or Member State compartments should not duplicate or crowd out private financing or distort competition in the internal market.
Amendment 127 #
Proposal for a regulation
Recital 20
Recital 20
(20) The Member State compartment should be specifically designed to allow the use of funds under shared managementnational funds to provision a guarantee issued by the Union. That combination aims at mobilising the high credit rating of the Union to promote national and regional investments while ensuring a consistent risk management of the contingent liabilities by implementing the guarantee given by the Commission under indirect management. The Union should guarantee the financing and investment operations foreseen by the guarantee agreements concluded between the Commission and implementing partners under the Member State compartment, the Funds under shared managementnational funds should provide the provisioning of the guarantee, following a provisioning rate determined by the Commission based on the nature of the operations and the resulting expected losses, and the Member State would assume losses above the expected losses by issuing a back-to-back guarantee in favour of the Union. Such arrangements should be concluded in a single contribution agreement with each Member State that voluntarily chooses such option. The contribution agreement should encompass the one or more specific guarantee agreements to be implemented within the Member State concerned. The setting out of the provisioning rate on a case by case basis requires a derogation from [Article 211(1)] of Regulation (EU, Euratom) No XXXX19 (the 'Financial Regulation'). This design provides also a single set of rules for budgetary guarantees supported by funds managed centrally or by funds under shared management, which would facilitate their combination. _________________ 19
Amendment 128 #
Proposal for a regulation
Recital 21
Recital 21
(21) The InvestEU Fund should be open to contributions from third countries that are members of the European Free Trade Association, acceding countries, candidates and potential candidates, countries covered by the Neighbourhood policy and other countries, in accordance with the conditions laid down between the Union and those countries. Cooperation and support should be provided to decrease dependence on fossil fuels and increase access to affordable renewable energy, as well as to support access to science, technology and innovation in line with the SDGs. This should allow continuing cooperating with the relevant countries, where appropriate, in particular in the fields of research and innovation as well as SMEs.
Amendment 145 #
Proposal for a regulation
Recital 28
Recital 28
(28) An Investment Committee composed of independent experts should conclude on the granting of the support from the EU guarantee to financing and investment operations fulfilling the eligibility criteria, thereby providing external expertise in investment assessments in relation to projects. The Investment Committee should have different configurations to best cover different policy areas and sectors, but always include also experts from climate, environmental and civil society organisations.
Amendment 160 #
Proposal for a regulation
Recital 35
Recital 35
(35) The InvestEU Advisory Hub should support the development of a robust pipeline of investment projects in each policy window providing for effective implementation of geographic diversification with a view to contributing to the Union objective of economic, social, and territorial cohesion and reducing regional disparities. The Advisory Hub should pay particular attention to the necessity of aggregating small projects and bundle them into larger portfolios. In addition, a cross- sectoral component under the InvestEU Programme should be foreseen to ensure a single-entry point and cross-policy project development assistance for centrally managed Union programmes.
Amendment 163 #
Proposal for a regulation
Recital 36
Recital 36
(36) In order to ensure a wide geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the InvestEU Fund, a local presence of the InvestEU Advisory Hub should be ensured, where needed in every Member State, taking into account existing support schemes, with a view to provide tangible, proactive, tailor- made assistance on the ground.
Amendment 165 #
Proposal for a regulation
Recital 37 a (new)
Recital 37 a (new)
(37a) Given the positive track record of national promotional banks in generating, bundling and financing projects, for example on small scale energy efficiency and renewable energy projects on a local and regional level, their expertise should be pooled into advisory hubs and their role as implementing partners should continue to be valued.
Amendment 170 #
Proposal for a regulation
Article 2 – paragraph 1 – point 1
Article 2 – paragraph 1 – point 1
(1) 'blending operations' means operations supported by the Union budget combining non-repayable forms of support or repayable support or both from the Union budget with repayable forms of support from development or other public finance institutions, as well as from commercial finance institutions and investors; for the purposes of this definition, Union programmes financed from sources other than the Union budget, such as the EU Emissions Trading System (ETS) Innovation Fund, can be assimilated to Union programmes financed by the Union budget;‘additionality’ means additionality as defined in Article 8a (new).
Amendment 172 #
Proposal for a regulation
Article 2 – paragraph 1 – point 1 a (new)
Article 2 – paragraph 1 – point 1 a (new)
(1a) 'blending operations' means operations supported by the Union budget combining selected non-repayable forms of support or repayable support or both from the Union budget with repayable forms of support from development or other public finance institutions, as well as from commercial finance institutions and investors;
Amendment 173 #
Proposal for a regulation
Article 2 – paragraph 1 – point 1 b (new)
Article 2 – paragraph 1 – point 1 b (new)
Amendment 187 #
Proposal for a regulation
Article 3 – paragraph 1 – point d a (new)
Article 3 – paragraph 1 – point d a (new)
(da) contribute to achieving the climate objectives, as well as delivering long-term environmental and societal benefits.
Amendment 190 #
Proposal for a regulation
Article 3 – paragraph 2 – point b
Article 3 – paragraph 2 – point b
(b) to support financing and investment operations in researchinclusive and ethical research, product development, innovation and digitisation;
Amendment 195 #
Proposal for a regulation
Article 3 – paragraph 2 – point c
Article 3 – paragraph 2 – point c
(c) to increase the access to and the availability of finance for SMEs and, in duly justified cases, for small mid-cap companies;
Amendment 200 #
Proposal for a regulation
Article 3 – paragraph 2 – point d a (new)
Article 3 – paragraph 2 – point d a (new)
(da) to increase investment in climate mitigation and adaptation and to make sure that the InvestEU Fund is contributing at least 60% to climate objectives.
Amendment 207 #
Proposal for a regulation
Article 4 – paragraph 1 – subparagraph 2
Article 4 – paragraph 1 – subparagraph 2
An additional amount of the EU guarantee may be provided for the purposes of the Member State compartment referred to in point (b) of Article 8(1), subject to the allocation by Member States, pursuant to [Article 10(1)] of Regulation [[CPR] number]28 and Article [75(1)] of Regulation [[CAP plan] number]29 , of the corresponding amounts. _________________ 28 29.
Amendment 211 #
Proposal for a regulation
Article 4 – paragraph 3
Article 4 – paragraph 3
3. The financial envelope for the implementation of the measures provided in Chapters V and VI shall be at least EUR 5725 000 000 (current prices).
Amendment 218 #
Proposal for a regulation
Article 7 – paragraph 1 – point a
Article 7 – paragraph 1 – point a
(a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, digital connectivity, supply and processing of raw materials, space, oceans and water, waste - in particular the increased deployment of renewable energy and energy efficiency investments - digital connectivity, climate adaptation and mitigation, recycling and processing of raw materials, space, water, waste avoidance, recycling and reduction and the circular economy, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;.
Amendment 223 #
Proposal for a regulation
Article 7 – paragraph 1 – point b
Article 7 – paragraph 1 – point b
(b) research, innovation and digitisation policy window: comprises research, product development and innovation activities, transfer of technologies and research results to the market, supporting market enablers and cooperation between enterprises, including regulatory systems demonstration and deployment of innovative solutions and support to scaling up of innovative companies other than SMEs on the net-zero carbon economy, resilience and adaptation to climate change, on the circular economy, as well as digitisation of Union industry;.
Amendment 229 #
Proposal for a regulation
Article 7 – paragraph 1 – point c
Article 7 – paragraph 1 – point c
(c) SMEs policy window: access to and availability of finance for SMEs and, in duly justified cases, for small mid-cap companiesparticular to environmentally-friendly production processes, resource and energy efficiency in SMEs and other climate relevant projects, and female entrepreneurship;
Amendment 242 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 1
Article 7 – paragraph 3 – subparagraph 1
Financing and investment operations under the sustainable infrastructin all foure policy windows referred to in point (a), (b), (c), (d) of paragraph (1) shall be subject to climate, environmental and social sustainability proofing and tracking, with a view to minimise detrimental impacts and maximise benefits on climate, environment and the social dimension. For that purpose, promoters requesting financing shall provide adequate information based on guidance to be developed by the Commission. Projects below a certain size defin in form of a delegated act that the latter is empowered to adopt in accordance with article 26, taking fully into account the criteria established inby the guidance shall be excluded from the proofing. [Regulation on the establishment of a framework to facilitate sustainable investment] for determining whether an economic activity is environmentally sustainable, and in line with EU climate objectives.
Amendment 251 #
Proposal for a regulation
Article 7 – paragraph 4
Article 7 – paragraph 4
4. Implementing partners shall provide the information necessary to allow the tracking of investment that contributes to meeting the Union objectives on climate and environment, based on guidance to be provided by the Commission. and using in an appropriate way the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment] for determining whether an economic activity is environmentally sustainable and being complementary to the role of the Platform on sustainable finance who shall monitor and report regularly to the Commission on capital flows towards sustainable investment.
Amendment 257 #
Proposal for a regulation
Article 7 – paragraph 5
Article 7 – paragraph 5
5. Implementing partners shall target that at least 50 % of thell investment under the sustainable infrastructure policy window contribute to meeting the Union objectives on climate and environment in line with the EU commitments made under the Paris Agreement.
Amendment 259 #
Proposal for a regulation
Article 8 – paragraph 1 – point b
Article 8 – paragraph 1 – point b
(b) the Member State compartment shall address specific market failures or sub-optimal investment situations in one or several Member States to deliver objectives of the contributing Funds under shared management.
Amendment 262 #
Proposal for a regulation
Article 8 a (new)
Article 8 a (new)
Article 8a Additionality For the purposes of this Regulation, ‘additionality’ means the support by the InvestEU Fund of operations which address market failures or sub-optimal investment situations, such as long-term return on investments or higher risk financing needs for projects delivering longer-term environment and societal benefits, and which could not have been carried out during the period in which the EU guarantee can be used, or not to the same extent, by implementing partners without InvestEU Fund support. Projects supported by the InvestEU Fund shall support the objectives laid down in Article 3, shall strive to create long-term employment, public infrastructure, sustainable growth and contribute to achieving the climate objectives of the EU.
Amendment 265 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
Amendment 269 #
Proposal for a regulation
Article 9 – paragraph 2 – subparagraph 2
Article 9 – paragraph 2 – subparagraph 2
Amendment 272 #
Proposal for a regulation
Article 9 – paragraph 3 – point a
Article 9 – paragraph 3 – point a
(a) the overall amount of the part of the EU guarantee under the Member State compartment pertaining to the Member State, its provisioning rate, the amount of the contribution from Funds under shared managementnational funds, the constitution phase of the provisioning in accordance with an annual financial plan and the amount of the resulting contingent liability to be covered by a back-to-back guarantee provided by the Member State concerned;
Amendment 275 #
Proposal for a regulation
Article 9 – paragraph 3 – point d
Article 9 – paragraph 3 – point d
(d) the possible contribution from Ffunds under shared management to the InvestEU Advisory Hub;
Amendment 278 #
Proposal for a regulation
Article 9 – paragraph 4 – subparagraph 2
Article 9 – paragraph 4 – subparagraph 2
Where, within nine months from the signature of the contribution agreement, no guarantee agreement has been concluded or the amount of a contribution agreement is not fully committed through one or more guarantee agreements, the contribution agreement shall be terminated in the first case or amended accordingly in the second case and the unused amount of provisioning re-used pursuant to [Article 10(5)] of Regulation [[CPR] number] and Article [75(5)] of Regulation [[CAP plan] number].
Amendment 279 #
Proposal for a regulation
Article 9 – paragraph 4 – subparagraph 3
Article 9 – paragraph 4 – subparagraph 3
Amendment 280 #
(a) after the constitution phase referred to in point (a) of paragraph 3 of this Article, any annual surplus of provisions, calculated by comparing the amount of provisions required by the provisioning rate and the actual provisions, shall be re- used pursuant to [Article 10(6)] of the [CPR] and to Article [75(6)] of the [[CAP plan] number];
Amendment 292 #
Proposal for a regulation
Article 11 – paragraph 1 – point a
Article 11 – paragraph 1 – point a
(a) comply with the conditions set out in [points (a) to (e) of Article 209(2)] of [the Financial Regulation], in particular with the additionality requirement set out in [point (b) of Article 209(2)] of [the Financial Regulation] and contribute to social, climate and environmental policy objectives of the European Union, where appropriate, maximising private investment in accordance with [point (d) of Article 209(2)] of the [Financial Regulation];
Amendment 293 #
Proposal for a regulation
Article 11 – paragraph 1 – point b
Article 11 – paragraph 1 – point b
(b) contribute, complement and are consistent to the Union policy objectives and fall under the scope of the areas eligible for financing and investment operations under the appropriate window in accordance with Annex II to this Regulation; and
Amendment 294 #
Proposal for a regulation
Article 11 – paragraph 1 – point c
Article 11 – paragraph 1 – point c
(c) are econsistent with the investment guidelines.omically and financially viable, while taking into account the specific operating environment;
Amendment 295 #
Proposal for a regulation
Article 11 – paragraph 1 – point c a (new)
Article 11 – paragraph 1 – point c a (new)
(ca) are technically viable and are sustainable from an environmental and social point of view, in accordance with Annex III to this Regulation.
Amendment 297 #
Proposal for a regulation
Article 11 – paragraph 1 a (new)
Article 11 – paragraph 1 a (new)
1a. The Invest EU Fund shall not support activities related to production, processing, distribution, storage or combustion of fossil fuels or CO2 transport infrastructure.
Amendment 310 #
(fa) Achieves additionality as laid out in Article 8a (new);
Amendment 350 #
Proposal for a regulation
Chapter 4 a (new)
Chapter 4 a (new)
All bodies participating in the decision- making and selection of projects shall act according to the principles of transparency, accountability and guaranteed stakeholder participation, including from civil society organisations. They should be composed of independent experts from various technical backgrounds, including climate experts, and aim for gender balance. Information on projects, selection procedure and decision-making shall be published, while respecting commercially sensitive information. (This amendment shall serve as introduction to the chapter and apply thus to Articles 17-19. It shall appear before Article 17 in the text.)
Amendment 352 #
Proposal for a regulation
Article 20 – paragraph 1 – subparagraph 1 a (new)
Article 20 – paragraph 1 – subparagraph 1 a (new)
The InvestEU Advisory Hub shall provide advisory support at regional and local level to promote projects with a climate, environmental and social impact and in line with the ‘Energy Efficiency First’ principle. Such support should also include a communication and a project development assistance component to continue building more capacity to develop sustainable projects and to aggregate smaller projects into larger ones.
Amendment 360 #
Proposal for a regulation
Article 20 – paragraph 4
Article 20 – paragraph 4
4. FCommensurate fees may be charged for the services referred to in paragraph 2 to cover part of the costs for providing those services.
Amendment 366 #
Proposal for a regulation
Article 20 – paragraph 6
Article 20 – paragraph 6
6. The InvestEU Advisory Hub shall have locala presence, where necessary. It shall be established in particular in Member States or in each Member State, with a particular focus on ensuring a presence in regions that face difficulties in developing projects under the InvestEU Fund. The InvestEU Advisory Hub shall assist in the transfer of knowledge to the regional and local level with a view to building up regional and local capacity and expertise for support referred to in paragraph 1.
Amendment 371 #
Proposal for a regulation
Article 22 – paragraph 4
Article 22 – paragraph 4
4. The Commission shall report on the implementation of InvestEU Programme in accordance with [Articles 241 and 250] of the [Financial Regulation]. For that purpose, the implementing partners shall provide annually the information necessary to allow the Commission to comply with its reporting obligations. As part of the annual reporting, the Commission shall carry out annually, a robust, multi-annual consolidation exercise to identify whether climate expenditure is on track to achieve the 60% target. The Commission shall provide information on the scale and results of support to climate change objectives differentiating between mitigation and adaptation as well as information on the climate contribution of relevant financial instruments, and make this publicly available.
Amendment 373 #
Proposal for a regulation
Article 22 – paragraph 5
Article 22 – paragraph 5
5. In addition, each implementing partner shall submit every six months a report to the Commission on the financing and investment operations covered by this Regulation, broken down by the EU compartment and the Member State compartment by Member State, as appropriate. The report shall include an assessment of compliance with the requirements on the use of the EU guarantee and with the key performance indicators laid down in Annex III to this Regulation. The report shall also include operational, statistical, financial and accounting data on each financing and investment operation and at the compartment, policy window and the InvestEU Fund level. One of those reports shall contain the information the implementing partners shall provide in accordance with [Article 155(1)(a)] of the [Financial Regulation]. The Commission shall compile, and assess implementing partners’ reports and submit a summary in the form of public annual reports, providing information on the level of implementation of the programme against its objectives and performance indicators, indicating risks and opportunities for the financing and investment operations supported by the InvestEU programme.
Amendment 374 #
Proposal for a regulation
Article 22 – paragraph 5 a (new)
Article 22 – paragraph 5 a (new)
5a. The Commission, shall publish on their web-portal information on financing and investment operations, including information on expected impacts and benefits of the projects, taking into account the protection of confidential and commercially sensitive information. The web-portal shall also provide public access to a registry of eligible counterparts. In accordance with relevant transparency policies and Union rules on data protection and on access to documents and information, the implementing partners and other recipients of Union funds shall proactively and systematically make publicly available on their websites information relating to all financing and investment operations covered by this programme, relating in particular to the manner in which those projects contribute to the achievement of the objectives and requirements of this Regulation. Such information shall always take into account the protection of confidential and commercially sensitive information. Implementing partners shall make public Union support in all information, which they publish on financing and investment operations covered by this programme in accordance with this Regulation.
Amendment 383 #
Proposal for a regulation
Annex II – paragraph 1 – introductory part
Annex II – paragraph 1 – introductory part
The financing and investment operations may fall under one or more of the following areas but shall not support activities related to production, processing, distribution, storage or combustion of fossil fuels, or CO2 transport infrastructure:
Amendment 389 #
Proposal for a regulation
Annex II – paragraph 1 – point 1 – point a
Annex II – paragraph 1 – point 1 – point a
(a) expansion of theand accelerating the deployment of generation, supply or use of clean and sustainable renewable energy;
Amendment 394 #
Proposal for a regulation
Annex II – paragraph 1 – point 1 – point d
Annex II – paragraph 1 – point 1 – point d
(d) production and supply of synthetic fuels from renewable/carbon-neutral sources; alternative fuels sources under the condition of a positive lifecycle impact and efficiency assessment;
Amendment 398 #
Proposal for a regulation
Annex II – paragraph 1 – point 1 – point e
Annex II – paragraph 1 – point 1 – point e
Amendment 404 #
Proposal for a regulation
Annex II – paragraph 1 – point 2 – point a
Annex II – paragraph 1 – point 2 – point a
(a) projects supporting the sustainable development of the TEN-T infrastructure and small scale projects, including its urban nodes, when targeted to multimodality and zero-emission technologies, sustainable maritime and inland ports, multimodal terminals and their connection to the main networks, as well as cross sectorial projects at those ports and terminals such as waste and water recycling and integrated electricity charging stations for ships when at berth;
Amendment 407 #
Proposal for a regulation
Annex II – paragraph 1 – point 2 – point b
Annex II – paragraph 1 – point 2 – point b
(b) smart and sustainable urban mobility projects (targeting lowzero-emission urban transport modes, accessibility, air pollution and noise, energy consumption and accidents);
Amendment 408 #
Proposal for a regulation
Annex II – paragraph 1 – point 2 – point c
Annex II – paragraph 1 – point 2 – point c
(c) supporting the renewal and retrofitting of transport mobile assets with the view of deploying lowzero-emission mobility solutions;
Amendment 409 #
Proposal for a regulation
Annex II – paragraph 1 – point 2 – point d
Annex II – paragraph 1 – point 2 – point d
(d) railway infrastructure, other rail projects, andincluding regional cross-border missing links that were dismantled or abandoned in the past and sustainable maritime ports;
Amendment 414 #
Proposal for a regulation
Annex II – paragraph 1 – point 2 – point e
Annex II – paragraph 1 – point 2 – point e
(e) alternative fuels infrastructure, including electric charging infrastructure.
Amendment 415 #
Proposal for a regulation
Annex II – paragraph 1 – point 3 – point c
Annex II – paragraph 1 – point 3 – point c
(c) projects and enterprises in the fields of environmental resource management and cleansustainable technologies;
Amendment 416 #
Proposal for a regulation
Annex II – paragraph 1 – point 3 – point f
Annex II – paragraph 1 – point 3 – point f
(f) climate change actions, including natural hazard disaster risk reduction, climate adaptation and mitigation;
Amendment 417 #
Proposal for a regulation
Annex II – paragraph 1 – point 3 – point g
Annex II – paragraph 1 – point 3 – point g
(g) projects and enterprises that implement circular economy by integrating resource and energy efficiency aspects in the production and product life-cycle, including the sustainable supplyrecycling of primary and secondary raw materials;
Amendment 419 #
Proposal for a regulation
Annex II – paragraph 1 – point 3 – point h
Annex II – paragraph 1 – point 3 – point h
(h) decarbonisation of and substantial reduction of emissions of energy-intensive industries, including large-scale demonstration of CCU and innovative lowzero-emission technologies and their deployment.
Amendment 426 #
Proposal for a regulation
Annex II – paragraph 1 – point 5 – point a
Annex II – paragraph 1 – point 5 – point a
(a) research, including research infrastructure, regulatory frameworks and support to academia, and product development and innovation projects contributing to the objectives of [Horizon Europe];
Amendment 429 #
Proposal for a regulation
Annex II – paragraph 1 – point 5 – point d
Annex II – paragraph 1 – point 5 – point d
(d) collaboration projects between academia and industry, public-private partnerships, and civil society, including patient and end-user organisations;
Amendment 433 #
Proposal for a regulation
Annex II – paragraph 1 – point 5 – point f
Annex II – paragraph 1 – point 5 – point f
(f) new effectivand improved effective, accessible and affordable healthcare products, including pharmaceuticals, vaccines, medical devices, diagnostics and advanced therapy medicinal products, new antimicrobials and innovative development processes that avoid using animal testing.
Amendment 439 #
Proposal for a regulation
Annex II – paragraph 1 – point 6 – point a
Annex II – paragraph 1 – point 6 – point a
(a) ethical artificial intelligence subject to prior assessment;
Amendment 441 #
Proposal for a regulation
Annex II – paragraph 1 – point 6 – point d
Annex II – paragraph 1 – point 6 – point d
(d) blockchain and other distributed ledger technologies;
Amendment 442 #
Proposal for a regulation
Annex II – paragraph 1 – point 6 – point e
Annex II – paragraph 1 – point 6 – point e
(e) advanceding digital skills;
Amendment 446 #
Proposal for a regulation
Annex II – paragraph 1 – point 7 – introductory part
Annex II – paragraph 1 – point 7 – introductory part
7. Financial support to entities employing up to 3 000 employees, with a particular focus on SMEs and small mid- cap companieSMEs, in particular through:
Amendment 450 #
Proposal for a regulation
Annex II – paragraph 1 – point 7 – point b a (new)
Annex II – paragraph 1 – point 7 – point b a (new)
(ba) Female entrepreneurship
Amendment 454 #
Proposal for a regulation
Annex II – paragraph 1 – point 9
Annex II – paragraph 1 – point 9
9. Sustainable Tourism.
Amendment 456 #
Proposal for a regulation
Annex II – paragraph 1 – point 11 – point c a (new)
Annex II – paragraph 1 – point 11 – point c a (new)
(ca) promotion of gender equality
Amendment 461 #
Proposal for a regulation
Annex II – paragraph 1 – point 11 – point h
Annex II – paragraph 1 – point 11 – point h
(h) innovative health solutions, including e-health, health services and new care models;
Amendment 464 #
Proposal for a regulation
Annex II – paragraph 1 – point 12
Annex II – paragraph 1 – point 12
Amendment 481 #
Proposal for a regulation
Annex III – point 3 – point 3.2
Annex III – point 3 – point 3.2
3.2 Investment supporting climate objectives, detailed per policy window and category, as well as share of climate relevance;
Amendment 485 #
Proposal for a regulation
Annex III – point 4 – point 4.2
Annex III – point 4 – point 4.2
4.2 Energy: Number of households with improved energy consumption classification, number of households renovated to NZEB and passive house standard;
Amendment 487 #
Proposal for a regulation
Annex III – point 4 – point 4.4
Annex III – point 4 – point 4.4
4.4 Transport: Investment mobilised in TEN-T of which: TEN-T core, small scale projects, other
Amendment 492 #
Proposal for a regulation
Annex III – point 5 – point 5.2 a (new)
Annex III – point 5 – point 5.2 a (new)
5.2a Contribution to tackling Global Societal Challenges within Horizon Europe: 'Health and well-being', 'Inclusive society’, ‘Resilient society’, ‘Sustainable food', 'Natural resources and the Environment’.
Amendment 494 #
Proposal for a regulation
Annex III – point 6 – introductory part
Annex III – point 6 – introductory part
6. Gender disaggregated data on SMEs
Amendment 496 #
Proposal for a regulation
Annex III – point 6 – point 6.1
Annex III – point 6 – point 6.1
6.1 Number of enterprises supported by size (micro, small, medium sized and small mid-caps)
Amendment 499 #
Proposal for a regulation
Annex III – point 7 – introductory part
Annex III – point 7 – introductory part
7. Gender disaggregated data on Social Investment and Skills