21 Amendments of David CORMAND related to 2019/2126(INI)
Amendment 4 #
Motion for a resolution
Citation 11 a (new)
Citation 11 a (new)
- having regard to the recommendation of the European Ombudsman in case 146/2017/DR on how the European Investment Bank handled a complaint about breaches of environmental, health and safety requirements in a project it financed,
Amendment 44 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Calls on the EIB to greatly strengthen the arrangements for providing technical assistance and financial expertise to local and regional authorities before project approval, in order to improve accessibility and involve all Member States; in this regard also calls for the increase of provisioning under the MFF to be dedicated to advisory services such as the Advisory Hub, Jaspers, Elena and Fi-compass;
Amendment 46 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Welcomes the EIB's timely efforts to support the projects it is financing in their implementation stage (by providing experts and support instruments and by producing preparatory studies); asks the EIB and the Commission to work together to draw up proposals for more systematic involvement of the EIB's teams in project implementation in countries which request this, particularly in areas requiring advanced expertise or which are of strategic importance to the Union, such as the fight against climate change;
Amendment 54 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Regards the 10 standards laid down in the EIB’s social and environmental manual as of paramount importance and as a precondition for participation in its lending operations, including in the areas of pollution prevention and abatement, biodiversity and ecosystems, climate- related standards, cultural heritage, involuntary resettlement, rights and interests of vulnerable groups, labour standards, occupational and public health, safety and security and stakeholder engagement;
Amendment 67 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Welcomes the fact that the EIB is the world's largest issuer of green bonds and welcomes the first issue of climate awareness bonds to the value of EUR 500 million, which will be dedicated to projects aimed at supporting sustainable development objectives; calls on the EIB to continue to issue these bonds;
Amendment 68 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Calls for the European Investment Fund (EIF) to be fully integrated into all EIB climate measures; calls on the EIF to give greater priority to innovation needs for the transition to a climate-neutral Europe; calls for the EIF to ensure that in all its investment it is actively engaging with investee companies on enhancing their climate-related disclosures, reducing their emissions, and steering investment towards cost- effective alternatives, (e.g. energy efficiency, or climate-proofing for resilience);
Amendment 73 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls for a detailed roadmap to be drawn up in 2020 to reach the overall target of 50% climate lendingReminds, that the EIB’s climate strategy was adopted in 2015 together with EIB’s eligible sectors and eligibility criteria for climate and the Climate strategy implementation plan; asks for a review of the Implementation Strategy in 2020 for Paris Alignment, including concrete roadmap for reaching the 50% granular target by 2025,; as well as guarantees regarding thefor climate neutrality of the remaining loans,ending following an open and transparent public consultation process;
Amendment 84 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Is alarmed that of the 20 largest energy lending projects in 2017, only sixeven included their carbon footprint in their environmental and social data sheets initially, while some lending that was managed through intermediaries was later reported; welcomes the decrease in the threshold for accounting in 2018, calls for stringent climate accounting in particular, especially in the economic and financial appraisal of projects for climate tracking for allocated resources and actual spending based on the Rio Marker system differentiating between mitigation and adaptation and the different sectors, calls in this regard to update the estimation of utilization rates calculations;
Amendment 85 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Welcomes the new EIB carbon footprint evaluation methodology and calls for its systematic implementation, with a particular focus on marginal demand emissions and indirect emissions (‘type 3’); calls for projects to be evaluated comprehensively and not merely by means of an economic life-cycle analysis of their emissions for all projects and tested against a range of these; calls for the inclusion of fugitive emissions from gas pipelines in scope in line with the GHG protocol; calls for a full life-cycle evaluation of emissions of projects and not only economic life-cycle analysis with a view to minimise detrimental impacts and maximise benefits on climate mitigation and adaptation;
Amendment 99 #
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13 a. Calls on the EIB to include clauses in financing documentation requiring the beneficiary of the EIB loans to undertake to fully deliver any decarbonisation objective that may have been included in its loan application and that such clauses should provide that disbursements shall be conditional to the satisfactory performance of these undertakings and that in the case where disbursements are to be made prior to the delivery of the decarbonisation objectives including an efficient ex-post indemnity regime;
Amendment 100 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Welcomes the new EIB energy lending policy and the example it sets for other bankespecially its potential to be a game changer among financial institutions, in terms of roll-on effect on other banks; welcomes that the policy covers financial intermediaries, the prioritization of energy efficiency and renewable energy, with a positive reference to energy communities and micro-grids; regrets that exceptions are applicable to the approval of certain gas projects until the end of 2021 and that support for gas projects planned for the transport of low-carbon gases is set tomight continue; calls for this policy to be reviewed in the medium term (by the start of 2022) to close the gaps in gas infrastructure to bring it in line with the European Sustainable Finance Taxonomy and the European Green Pact,on the EIB to clarify that it will not initiate any appraisal of any fossil fuel related project which had not been submitted to the bank prior to 14 November 2019 and also to issue clarifications as to how to avoid channelling funds to projects which could lock in use of fossil fuels for decades to come; calls for this policy to be regularly reviewed and constantly kept in line with the European Sustainable Finance Taxonomy, so as to avoid any lock-in into carbon-intensive assets and to stay consistent with a pathway compatible to limit global warming under 1.5°C compared to pre-industrial levels and to be consistent with the development of appropriate new external actions in the EU;
Amendment 113 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Calls for rigorous policies to be implemented in carbon-intensive industrial sectors in which the EIB is active, such as cement, petrochemicals and steel, with a view to phasing out all ‘brown’ loans and aligning all sectoral loans, focusing on the promotion of a circular economy based on non-toxic material cycles;
Amendment 122 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Welcomes the hydropower guidelines adopted in 20184 and calls for the extension of the transparency requirements to all infrastructure projects including those financed by financial intermediaries; _________________ 4EIB, ‘Environmental, Climate and Social Guidelines on Hydropower Development’, October 2019.
Amendment 148 #
Motion for a resolution
Subheading 4
Subheading 4
Amendment 168 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Notes that around 40% of ELM operations go through financial intermediaries and asks the EIB to provide more comprehensive and more regular information on the redistribution of loans by financial intermediaries; asks the EIB to maintain its checks on loans allocated via non-local financial intermediaries; highlights, in relation to NPBIs, the importance of, on the one hand, rethinking their relationships with the EIB, the European Bank for Reconstruction and Development (EBRD) and the development banks, in order to ensure coherence between their respective mandates and, on the other hand, of strengthening their cooperation with the Commission, the EIB and national, regional and local authorities, to create more synergies between the ESI Funds and EIB financing instruments and loans, reduce administrative burdens, simplify procedures, increase administrative capacity, boost territorial development and cohesion and improve the visibility of ESI Funds and EIB financing;
Amendment 173 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. Urges the EIB to adopt a comprehensive and coherent human rights strategy, which includes the risk of reprisals against human rights defenders; recommends that this strategy include the systematic and through assessment of human rights risks, including an ex-ante evaluation, and continuous monitoring on the ground and in particular should contain a protocol to avoid negative impact on human rights defenders as well as adequate responses in case it happens by, amongst others, guaranteeing effective right to access to information and requirement for a genuine and ex-ante consultation with indigenous people affected by the investment; the strategy should also include an ex-ante evaluation, and continuous monitoring on the ground, in collaboration with affected communities, human rights defenders and independent civil society organisations; calls on the EIB to include in its contracts clauses allowing for the suspension of disbursements in the case of serious violations of human rights or environmental and social standards; and to ensure that complaints mechanisms are easily accessible even for remote, marginalised communities, and are timely and effective;
Amendment 180 #
Motion for a resolution
Paragraph 27 a (new)
Paragraph 27 a (new)
Amendment 184 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Recalls that the same principles of accountability and transparency should apply to all EU bodies7; insists that the heightened economic role of the EIB Group, the increase in its investment capacity and use of the EU budget to guarantee its operations must go hand in hand with increased transparency and responsibility; _________________ 7As recalled by the European Court of Auditors in 2018.
Amendment 188 #
Motion for a resolution
Paragraph 29
Paragraph 29
29. Welcomes the fact that, as recommended in the latest Parliament reports, public summaries are now to be made of Management Board meetings; stresses the need to publish the content of meetings of all the EIB’s governing bodies systematically, including the annual meeting of the Council of Governors and the meetings of the Management Committee;
Amendment 208 #
Motion for a resolution
Paragraph 34
Paragraph 34
34. Expects the EIB to adapt its internal policies to take account of the new legal framework put in place to combat not only tax fraud but also tax evasion; Encourages the EIB to workcooperation by the EIB with the European Anti- Fraud Office (OLAF) and national authorities to prevent fraud and money laundering, and to ensure that; calls on the European Public Prosecutor to takes a proactive interest in the EIB’s activities by investigating, prosecuting and bringing to justice perpetrators of criminal offences affecting the EU's financial interests via the EIB's operations;
Amendment 222 #
Motion for a resolution
Paragraph 39 a (new)
Paragraph 39 a (new)
39a. Asks the President of the EIB to present this Resolution to the Directors and Governors of the EIB and calls for it to be debated in the Management Committee;