15 Amendments of Catherine CHABAUD related to 2021/2176(INI)
Amendment 5 #
Draft opinion
Paragraph 1
Paragraph 1
1. Notes with concern the asymmetry ofEmphasizes that international investment agreements (IIA), which give rights to foreign investors without putting the host state under any obligations in termand the activities of foreign investors must be in line with international and European standards and commitments ofn human rights, labour rights and environmental law; regretNotes that IIAs usually includeand the investor-state dispute settlement mechanism (ISDS), which must provides protection for investors but not for, while protecting states orand citizens alike;
Amendment 12 #
Draft opinion
Paragraph 2
Paragraph 2
2. Deplores the asymmetry of this private justice system,which gives foreign investors the right to bringbuse by certain foreign investors that bring disproportionate claims against governments; highlights the risks posed by the high costs of ISDS claims for the public finance of developing countries; stresses that the costs of investment lawsuits have the potential to bring the public budgets of most African countries to breaking point;
Amendment 32 #
Draft opinion
Paragraph 4
Paragraph 4
4. Urges the EU to review its investment treaties in order to ensure a fair balance between rights and obligations for investors with full respect for human rights, labour rights and the environment; stresses the need to oblige thefor investors to supportapply sustainable investment in thepolicies in host states and to oblige the home state of the investor to allow victims to seek justiceensure a policy within the framework of international principles of due diligence and the upcoming European legislation on corporate due diligence in which investors and companies can be held accountable for serious violations of human rights, labour rights and environmental law;
Amendment 35 #
Draft opinion
Paragraph 5
Paragraph 5
Amendment 40 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Considers that new investment treaties between investors and governments must allow foreign investors to align their policy and investment strategy with the EU's values and principles on human rights, labour rights, environmental law and due diligence, while at the same time adapting, where needed, to local sensitivities on customs, values, business and investment policy;
Amendment 44 #
Draft opinion
Paragraph 6
Paragraph 6
6. Stresses that the Investment Court System designed by the EU does not protectRecommends that the European Commission develop a comprehensive alternative to the ISDS to address the most egregious concerns surrounding the current ISDS investment protection system; Stresses that the Investment Court System designed by the EU must be adapted to ensure adequate protection of investors and governments’' right to regulate; Considers that local governments, by regulating investors and investing companies, must be guaranteed the necessary liberties to ensure the protection of local businesses and national labour rights, insofar as they align with international standards as set out by the ILO and uphold international obligations on human rights, environmental law and sustainability;
Amendment 51 #
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Notes that investment in developing and least developed countries carries higher risks and must be met with adequate and fair protection mechanisms; Stresses that investor protection remains important in EU investment agreements with developing countries;
Amendment 55 #
Draft opinion
Paragraph 7
Paragraph 7
7. Urges the EU to refrain fromwork closely with developing countries in digital development, by including a digital clauses in investment trade agreements that would restrict the digital industrialisation strategy of developing countriesare beneficial and bring reciprocal advancement in employment, growth and digital industrialisation strategies for the EU and developing countries alike by supporting the local economy through technology transfer; encourages the exchange of EU sustainable and green technologies to developing countries, as a way to promote sustainable growth;
Amendment 64 #
Draft opinion
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Emphasizes that an investment policy which is consistent, based on good practices and coherent with EU regulation on investment, can have a significant positive impact on growth, the environment, human rights, good governance and employment in developing countries; Encourages the EU and its Member States to negotiate coherent investment agreements and to minimize divergencies where possible;
Amendment 65 #
Draft opinion
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Emphasizes that EU international investment policy must ensure that cooperation with third countries, when establishing the protection of local businesses and labour rights, include the highest standards on human rights, labour and environmental laws;
Amendment 66 #
Draft opinion
Paragraph 8 c (new)
Paragraph 8 c (new)
8 c. Calls on the EU to continue to support local firms, SMEs and public services in developing countries through investment agreements and to improve their resilience and independence through close cooperation with regard to the exchange of best practices, skills and know how; considers that EU investor protection herein must be in line with the host states' public capacity to regulate and must meet the EU's obligation to exercise policy coherence for development;
Amendment 67 #
Draft opinion
Paragraph 8 d (new)
Paragraph 8 d (new)
8 d. Reiterates its concern on toxic investment strategies and undervaluing in global investment strategies by third parties to the EU and developing countries in the establishment of investment agreements with developing countries at the cost of human rights, environmental standards, sustainability and labour rights;
Amendment 68 #
Draft opinion
Paragraph 8 e (new)
Paragraph 8 e (new)
8 e. Insists that the future of EU foreign investment policy must take into consideration the consequences of the Covid-19 pandemic by applying an integrated and coherent policy which promotes high quality investments and makes a positive contribution to worldwide economic progress and sustainable development; Recognizes the deep impact that the Covid-19 has had on the establishment of investment agreements and local businesses in the EU and developing countries alike;
Amendment 69 #
Draft opinion
Paragraph 8 f (new)
Paragraph 8 f (new)
8 f. Notes with concern the widening global investment gap, which risks leading to the abandonment of global sustainability, environmental and human rights goals;
Amendment 70 #
Draft opinion
Paragraph 8 g (new)
Paragraph 8 g (new)
8 g. Welcomes the European Commission's proposal on the Global Gateway; Emphasizes that investment strategies by European Member States and private entities alike, must be values- driven, adhere to high standards on human rights and labour rights and be fully aligned with the UN's Agenda 2030 and its Sustainable Development Goals, as well as the Paris Agreement;