21 Amendments of Olivier CHASTEL related to 2020/2058(INI)
Amendment 115 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Questions whether the SEIP, as currently constituted, will enable the mobilisation of EUR 1 trillion by 2030, given the negative economic outlook following the COVID-19 crisis; requests the Commission to ensure full transparency on financing issues, such as the optimistic leverage effect or the lack of clarity over the extrapolations of certain amounts; furthermore questions how the new MFF as proposed by the Commission in its revised proposals of 27 and 28 May 2020 would enable the achievement of the SEIP targets; underlines that the SEIP is an EU long-term goal and cannot be undermined by lower MFFs in the future that would allocate a large part of money to the repayment of the borrowing;
Amendment 238 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Welcomes the proposal to top up the Just Transition Fund (JTF), including with additional funds from Next Generation EU, and the two additional pillars of the Just Transition Mechanism, namely a dedicated scheme under InvestEU and a public sector loan facility, which will contribute to alleviating the economic effects of the transition to climate neutrality on the most vulnerable and CO2 intensive regions in the EU;
Amendment 255 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Welcomes the role of InvestEU in the implementation and functioning of the SEIP and considers that it should be at the heart of the Union’s green, fair and resilient recovery; welcomes, therefore, the Commission’s proposal to increase the programme’s size and scope; welcomes the proposal to create a Strategic Investment Facility within InvestEU to promote sustainable investments in key technologies and value chains; calls on the Commission to carry out a thorough impact assessment for the upcoming delegated acts on climate change mitigation &adaptation to ensure that they are “fit for purpose” to be applied to the InvestEU programme and public procurement;
Amendment 261 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Welcomes the role of InvestEU in the implementation and functioning of the SEIP and considers that it should be at the heart ofplay a key role in the Union’s green, fair and resilient recovery; welcomes, therefore, the Commission’s proposal to increase the programme’s size and scope; welcomes the proposal to create a Strategic Investment Facility within InvestEU to promote sustainable investments in key technologies and value chains;
Amendment 292 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Reaffirms its previous position regarding candidates for new own resources, and calls on the Commission to propose new own resources which correspond to essential EU objectives including the fight against climate change and the protection of the environment; asks, therefore, for the introduction of new own resources based on the auction revenues of the Emissions Trading System, a contribution on non-recycled plastic packaging waste, the future Carbon Border Adjustment Mechanism, a Common Consolidated Corporate Tax Base or a precursor based on oper, a tax on large digital companies, and a financial transaction tax; asks the Commission to provide details about the own resources presented in its Communications of large enterprises, a tax on digital companies, and a financial transaction tax; 27 May 2020 on the Recovery Plan as soon as possible; considers that a clear calendar establishing a binding introduction of new own resources in the course of the next MFF is necessary; recalls its position in favour of new own resources destined to repay at least the capital and the interests of the borrowing implied by the Recovery Instrument;
Amendment 328 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes the efforts of the European Investment Bank (EIB) to revise its energy lending policy and to devote 50 % of its operations to climate action and environmental sustainability; calls on the EIB to commit to the sustainable transition towards climate neutrality while taking into account the different energy mixes of Member States and devoting particular attention to the sectors and regions most affected by the transition to develop a clear and transparent methodology using the EU Taxonomy to ensure that all the projects financed will be aligned with the temperature goals of the Paris Agreement, consistent with the transition towards a climate neutral economy and “do no significant harm” to biodiversity and ecosystems;
Amendment 358 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Recognises the important role of the national promotional banks and institutions and of international financial institutions (IFIs) in the financing of sustainable projects of the Green Deal linked to the SEIP, thereby contributing to the achievement of the goals of the Paris Agreement; underlines that the European Bank for Reconstruction and Development (EBRD) can help to achieve the SEIP and mobilise investments in Europe and beyond for the protection of climate and environment;
Amendment 369 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Recalls the statement of the ECBConsiders that the fight against climate change and the promotion of sustainability is within the mandate of the ECB and recalls the statement of its President that the ECB is supporting the development of a taxonomy as a way of facilitating the incorporation of environmental considerations in central bank portfolios; calls on the ECB to evaluate the feasibility of including sustainabi and welcomes the ambition displayed in the recent Eurosystem reply to the European Commission’s public consultations on the Renewed Sustainable Finance Strategy and the revision of the NonFinancial Reporting Directive; calls on the ECB to undertake its monetary politcy criteria istrategy review to align its collateral framework and its annual stress testing exercise, while with the Paris agreement, and to disclose annually its level of alignment with the Paris agreement while setting a clear roadmap with targets - using appropriately the EU Taxonomy for these actions where relevant, while also assessing ways to guide lending towards energy transition investments and to rebuild a sustainable economy in the aftermath of the COVID- 19 crisis;
Amendment 382 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Calls on the European Supervisory Authorities (ESAs), together with national competent authorities (NCAs), to develop annual climate stress tests on financial institutions they supervise, as currently discussed notably in the Central Banks and Regulators Network for Greening the Financial System (NGFS), in order to understand where and how far climate- related financial risks sit in the portfolios of relevant EU financial institutions;
Amendment 414 #
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19a. Calls for the creation of a brown taxonomy as recommended by the European Central Bank and the Central Banks and Regulators network for Greening the Financial System;
Amendment 431 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Recalls that investments in unsustainable economic activities may lead to stranded assets with lock-in effects; considers this risk to be insufficiently integrated in credit ratings and prudential frameworks, which should be addressed in forthcoming reviews of the CRA, CRR /CRD and the Solvency frameworks;
Amendment 439 #
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Calls on the Commission to revise the Non-Financial Reporting Directive and to table new legislation on corporate governance to ensure that all large companies operating in carbon-intensive sectors develop and publish their carbon emission reduction targets and transition plans in order to align their business with the Paris Agreement;
Amendment 452 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Calls for the introduction of an enabling framework for public sustainable investments to achieve the goals set out in the European Green Deal, but stresses that whatever financing model is chosen must not undermine the sustainability of public finance in the EU; supports the commitment by EVP Dombrovskis to explore how taxonomy can be used in the public sector and calls therefore on the Commission to disclose which part of the Union's expenditure is compliant with the taxonomy categories as set out in the Regulation (EU)2020/[Taxonomy Regulation] and to adopt an updated tracking methodology to monitor and report trends regarding capital flows towards sustainable investment as per the taxonomy regulation (EU) 2020 /… [Taxonomy Regulation] of the European Parliament and of the Council; calls for public support for airlines to be used in a sustainable and efficient manner;
Amendment 470 #
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Calls on the Commission to ensure “transitional activities ” that enable significant improvements towards decarbonisation, reduction in environmental footprint, or improved resource efficiency in key sectors of the economy are eligible to receive funding under the Sustainable Europe Investment Plan;
Amendment 486 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Recalls that the European Semester is a framework for EU Member States to coordinate their budgetary and economic policies; believes that it could facilitate the implementation of the European Green Deal, the European Pillar of Social Rights and the UN Sustainable Development Goals (SDGs); believes that social impact investments create a balanced socio- economic transition that avoids creating or furthering the risks of social precarity or an unstable business environment; believes that the SDGs should be at the heart of EU’s policy making process;
Amendment 495 #
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23a. Calls on the Commission to extend the European Semester process by complementing the current approach, based on fiscal and budgetary discipline, with climate and environmental discipline, without watering down the European Semester; calls therefore on the European Commission to develop a new climate indicator, mirroring the economic indicators, to assess the discrepancy between the structure of Member States' budgets and progress towards Paris- aligned scenario for each of their national budgets; stresses the need for this indicator to provide Member States with an indication on their trajectory of temperature under the framework of the Paris Agreement, thus enabling the European Semester to provide recommendations about the reduction of their climate debt;
Amendment 509 #
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Calls for companies benefitting from public support to commit to public country-by-country reporting, while respecting the possibility for temporary derogations foreseen to protect commercially sensitive information and to ensure fair competition, to respect their non-financial reporting obligations and to guarantee jobs, and disclose any beneficial treatment received; Urges that such companies should fairly contribute to the recovery efforts by paying their fair share of taxes; seeks in this context a new social contract for corporates, harmonizing aims for profit with considerations for people and planet;
Amendment 518 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Supports the Solvency Support Instrument to level the playing field in the single market, and the introduction of ‘transition plans’ for certain companies to increase the sustainability of their activities; considers that society can ask for a quid pro quo when providing support to companies; believes that transition plans, in line with the Paris Agreement and the European Green Deal, should be obligatory for companies seeking state aid or EU-level support unless it is clear that they do not engage in environmentally or socially harmful activities; urges the Commission to only approve transition plans that set businesses on the path to the climate-neutral and circular economy without significantly harming any other environmental or social objectives;
Amendment 526 #
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25a. Calls on the Commission to use the EU Taxonomy to direct and track climate and environment spending in all EU public funding including the next MFF, Next GenerationEU including the Solvency support instrument, InvestEU and the EU recovery and resilience facility fund and EIB funds, in order to enhance the climate and environmental tracking system for better monitoring progress;
Amendment 528 #
Motion for a resolution
Paragraph 25 b (new)
Paragraph 25 b (new)
25b. Calls on the Commission to ensure that biodiversity-related risks, impacts and dependencies are integrated in relevant EU legislation, including the Non- Financial Reporting Directive, the delegated acts of the Disclosure Regulation and other relevant corporate and financial legislation;
Amendment 553 #
Motion for a resolution
Paragraph 27
Paragraph 27
27. Wishes it to be ensured that all contribute equitably to the post-corona recovery and the transition to a sustainable economy; seeks an intensified fight against tax fraud, tax evasion and tax avoidance and aggressive tax planning; calls on the Commission to create a blacklist of EU Member States facilitating tax avoidance; calls for EU-level coordination to avoid aggressive tax planning by individuals and corporates; seeks in this context an ambitious strategy for business taxation for the 21st century; welcomes the Commission's announcement to propose an EU level supervisor and supervisory body to fight money laundering and terrorist financing and underlines the necessity for sufficient resources to make this effective to be made available;