Activities of Jessica STEGRUD related to 2019/2126(INI)
Shadow opinions (1)
OPINION on the financial activities of the European Investment Bank – annual report 2019
Amendments (6)
Amendment 11 #
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Stresses the need to minimise the risk of crowding out the private sector by focusing on long-term financing otherwise unavailable to EIB clients on the markets, or by greater risk-taking while preserving the high credit standing of the EIB, namely by supporting the financing of projects that would not be financed otherwise, in particular innovative start-ups and SMEs; supports the EIB’s approach of helping to mobilise private capital by means of loans and guarantees; points out furthermore that the added value of EIB financing also consists in providing technical advice and capacity-building in order to help projects to become investment-ready;
Amendment 14 #
Draft opinion
Paragraph 1 b (new)
Paragraph 1 b (new)
1 b. Emphasises that the EIB’s financing activities are no substitute for productivity-enhancing structural reforms and sustainable fiscal polies in the Member States;
Amendment 20 #
Draft opinion
Paragraph 2
Paragraph 2
2. WelcomesTakes notes of the commitment by the Commission President-elect to turn sections of the EIB into a climate bank, and the commitments from the EIB President to increase the share of EIB financing for climate action and environmental sustainability to at least 50 % by 2025 and to align all EIB financing activities with the goals of the Paris Agreement by the end of 2020; calls on the Commission to present an ambitious new European Sustainable Investment Plan, including additional financial commitments, as soon as possible, and to fully support the EIB in its sustainability ambitions;
Amendment 28 #
Draft opinion
Paragraph 3
Paragraph 3
3. Stresses that in order for the EIB to be come the EU’s climate bank, it should stop all financial support to fossil fuel projects by the end of 2020, and align all its activities, including EIF operations, with the Paris Agreement’s goals; calls on the EIB to make decarbonisation commitments a considered a credible, reliable source of investment in the European economy, its goals must not be politicized and ition for companies to receive EIB support; calls on the EIB to apply the EU taxonomy framework, once it has been formally adopted, as a benchmark for its investments must be based primarily on the effect they have on growth and employment; Stresses that given that Europe appears climate and environmental investments; calls on the EIB to develop a credible methodology to measure, disclose and achieve ‘Paris alignment’ of its financing operationkely to enter another recession within the foreseeable future, the EIB's main focus ought to be on growth- and employment-promoting measures;
Amendment 45 #
Draft opinion
Paragraph 4
Paragraph 4
Amendment 67 #
Draft opinion
Paragraph 5
Paragraph 5
5. Calls on the EIB group to be more transparent about its economic operations, its use of the EU budget guarantee, the additionality of EIB operations and on possible future plans for a development subsidiary at the EIB, and for the EIB group to improve its accountability on these issues; calls for a memorandum of understanding between the EIB and Parliament to improve access to EIB documents and data related to strategic orientation and financing policies in the future in order to strengthen the Bank’s accountability. Calls for funding for the EIB to be conditional on the EIB taking appropriate measures to improve transparency and accountability;