65 Amendments of Margarida MARQUES related to 2019/2126(INI)
Amendment 5 #
Motion for a resolution
Citation 14 a (new)
Citation 14 a (new)
- having regard to the Commission communication on the Sustainable Investment Plan, European Green Deal Investment Plan,
Amendment 8 #
Motion for a resolution
Citation 14 b (new)
Citation 14 b (new)
- having regard to the Commission communication The European Green Deal,
Amendment 9 #
Motion for a resolution
Citation 14 c (new)
Citation 14 c (new)
- having regard to the Commission proposal for a Regulation establishing the Just Transition Fund,
Amendment 10 #
Motion for a resolution
Citation 14 d (new)
Citation 14 d (new)
- having regard to the report by the High-Level Group of Wise Persons on the European financial architecture for development,
Amendment 11 #
Motion for a resolution
Citation 14 e (new)
Citation 14 e (new)
- having regard to the Commission evaluation Decision No 466/2014/EU of the European Parliament and the Council of 16 April 2014 granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union,
Amendment 13 #
Motion for a resolution
Recital B
Recital B
B. whereas the main credit rating agencies have given EIB bonds a AAA rating due, inter alia, to the fact that it belongs to the Member States and to its prudent risk management; whereas the EIB should maintain its high credit rating, in order to be able to secure the most preferential financial conditions in the capital markets;
Amendment 15 #
Motion for a resolution
Recital D
Recital D
D. whereas the EIB, being the world’s largest multilateral borrower and lender, and jointly owned by EU Member States, is the EU’s natural partner for the implementation of financial instruments, in close cooperation with national and multilateral financial institutions;
Amendment 16 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas the Green Deal is one of the key policies of EU; whereas the European Investment Bank (EIB) plays an important role in financing the shift to a carbon-neutral, sustainable economy;
Amendment 17 #
Motion for a resolution
Recital D b (new)
Recital D b (new)
D b. whereas the EIB Group is treaty- bound to contribute to EU integration, economic and social cohesion and regional development through various investment instruments such as loans, equities, guarantees, risk-sharing facilities and advisory services;
Amendment 18 #
Draft opinion
Paragraph 2
Paragraph 2
2. Welcomes 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 EIB to devote remaining financing to address the technological transition, provide funds for long term research and innovation, SMEs, support the social economy and enhance social and territorial cohesion, namely by filling current investment gaps in public housing and infrastructure; 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 18 #
Motion for a resolution
Recital E
Recital E
E. whereas the Commission estimates the annual investment needed to achieve the EU’s 2030 targets at EUR 1 115 billion2 ; whereas the Commission Sustainable Investment Plan aims to unlock EUR 1 trillion investment in the next decade; _________________ 2 European Commission, SWD(2016) 405 final/2 of 6.12.2016, table 22 (scenario EUCO30, source: Primes model).
Amendment 21 #
Motion for a resolution
Recital E a (new)
Recital E a (new)
E a. whereas ensuring additionality of EIB lending is important for the EIB leverage of public investments and support to sectors and regions attracting less investment;
Amendment 23 #
Motion for a resolution
Recital E b (new)
Recital E b (new)
E b. whereas continuous attention should be focused on the development of best practices related to the EIB Group's performance policy and management, governance and transparency;
Amendment 26 #
Draft opinion
Paragraph 2 c (new)
Paragraph 2 c (new)
2 c. Welcomes the decision taken by the Board of Directors of the EIB to end financing for most fossil fuel energy projects from the end of 2021 and to gradually increase the share of its financing dedicated to climate action and environmental sustainability, to reach 50 % of its operations as of 2025; highlights, that, in line with the EIB's future lending policy, exceptional financing for gas as transitional energy can be possible if it is used in combination with renewables, as a bridging technology to replace coal, where no other alternatives exist, when safeguards to avoid lock-in effects are put in place, and when steps are taken to ensure that the emissions trajectory remains in line with the goals of the Paris Agreement; stresses that financing for renewable energies has to be the priority;
Amendment 27 #
Motion for a resolution
Paragraph -1 (new)
Paragraph -1 (new)
-1. Notes the worsening world economic climate, where real GDP growth has slowed and global challenges are contributing to uncertainty; notes the weak levels of investment in the EU in the past decade; calls for more public and private investment in the EU at national, regional and local levels;
Amendment 28 #
Motion for a resolution
Paragraph -1 a (new)
Paragraph -1 a (new)
-1 a. Notes the EIB's investment report 2019-2020, which highlights the challenges that the EU is facing in terms of competitiveness, such as, rising inequalities and insufficient levels of investment, especially in climate related R&D and digitalisation, which threaten Europe's economic future; urges the EIB to do its utmost to address these issues in its activities;
Amendment 29 #
Motion for a resolution
Paragraph -1 b (new)
Paragraph -1 b (new)
-1 b. Welcomes the EIB Group's willingness to enhance EU competitiveness and provide support for growth and job creation, through support for innovation, SMEs, infrastructure, social cohesion and the climate and environment;
Amendment 30 #
Motion for a resolution
Paragraph -1 c (new)
Paragraph -1 c (new)
-1 c. Supports the plans for a Sustainable Investment Plan to help close the investment gap and finance the transition to a carbon-neutral economy and ensure a just transition across the EU; underlines that the plan should take account of the experiences of previous programmes (the ‘Juncker Plan’) and place a special emphasis on truly additional investments of European added value; calls for coordinated actions to tackle the investment gap across the EU, including through the EU budget, financing from the EIB and other financial institutions and EU programmes, for example through InvestEU;
Amendment 31 #
Motion for a resolution
Paragraph -1 d (new)
Paragraph -1 d (new)
-1 d. Considers that the EIB as the 'EU bank' incorporated and governed by the Treaties and the relevant Protocol annexed thereto, must live up to this unique status, which brings with it unique rights and responsibilities; notes that the role of the EIB in implementing EU policies is increasing with new responsibilities foreseen in the next MFF 2021-2027, for example in financing the Green Deal through involvement in InvestEU and the Just Transition Mechanism; underlines that increased responsibilities should mean increased accountability and external scrutiny, such as expanding the mandate of the Court of Auditors in assessing EIB activities, working closely with OLAF and EPPO, and increasing dialogue with the European Parliament;
Amendment 32 #
Motion for a resolution
Paragraph -1 e (new)
Paragraph -1 e (new)
-1 e. Calls on the EIB to prioritise support through its lending activities to the achievement of the UN Sustainable Development Goals;
Amendment 41 #
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 and capacity-building to local and regional authorities before project approval, in order to improve accessibility and; calls on the EIB to involve all Member States, and address systemic shortcomings that prevent some regions or countries from taking full advantage of the EIB's financial activities; calls for intensified cooperation with national promotional banks and institutions;
Amendment 49 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Welcomes that the EIB in 2009- 2018 supported cohesion objectives within the EU for more than EUR 200 billion;
Amendment 50 #
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3 b. Considers that innovation and skills are fundamental elements for ensuring sustainable growth and creating high-quality jobs and driving long-term competitiveness. Welcomes that in 2018, the EIB supported innovation and skills with EUR 13.5 billion; expects continuing support by the EIB in innovation and skills;
Amendment 52 #
Motion for a resolution
Paragraph 3 c (new)
Paragraph 3 c (new)
3 c. Welcomes the EIB Group's Strategy on Gender Equality and the Gender Action Plan and looks forward to the Action Plan's second phase of implementation;
Amendment 53 #
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4 b. Recalls that EIB funding should provide additionality to projects that would otherwise not be financed and support projects in line with EU goals in areas where markets fail to invest, to provide long-term financing as well as to encourage investments especially in regions and sectors where it is most needed;
Amendment 53 #
Motion for a resolution
Paragraph 3 d (new)
Paragraph 3 d (new)
3 d. Considers that Europe needs to accelerate the adoption of digital technologies and investment in digital infrastructure and skills to stay competitive; calls on the EIB to address the technological transition with enhanced support for digitalisation;
Amendment 54 #
Draft opinion
Paragraph 4 c (new)
Paragraph 4 c (new)
4 c. Points out further that additionality of EIB financing also consists in providing technical advice and capacity-building in order to help projects to become investment-ready and ensure quick mobilization of resources, often faster than in the private sector;
Amendment 55 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Regards that social projects' evaluation criteria should take into account the principles of the European Pillar of Social Rights; underlines, in this context, the importance of carrying out ex-ante and ex-post evaluations on the sustainability, competitiveness and economic, social and environmental impacts of projects;
Amendment 58 #
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4 b. Welcomes the steps the EIB has taken so far; calls on the EIB to improve reporting and evaluation of actual results achieved and analysis of actual economic, social and environmental impacts of its investments;
Amendment 59 #
Motion for a resolution
Paragraph 4 c (new)
Paragraph 4 c (new)
4 c. Recalls that EIB funding should provide additionality to projects that would otherwise not be financed and support projects in line with EU goals in areas where markets fail to invest, to provide long-term financing as well as to encourage investments especially in regions and sectors where it is most needed;
Amendment 60 #
Motion for a resolution
Paragraph 4 d (new)
Paragraph 4 d (new)
4 d. Calls on the EIB to follow up on the conclusions of the Court of Auditors special report 03/2019, which assessed whether EFSI was effective in raising finance to support additional investments within the whole EU; notes that the report concluded that some EFSI operations simply replaced other EIB operations and that part of the finance went to projects that could have used other sources of public or private finance, and in some cases, overstated the extent to which EFSI support actually induced additional investments;
Amendment 63 #
Motion for a resolution
Paragraph 4 g (new)
Paragraph 4 g (new)
4 g. Calls for the EIB to ensure good coordination, coherence and consistency between EU policies, funding instruments and investments, with a view to avoiding overlaps and enhancing synergies of their funding;
Amendment 64 #
Motion for a resolution
Subheading 2
Subheading 2
A more climate- and just transition focused EIB
Amendment 66 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Welcomes the decisions taken on 14 November 2019 by the EIB’s Management Board to align the EIB’s policies with the goal of limiting global warming to a maximum of 1.5°C above pre-industrial levels; welcomes the new energy lending policy and the new strategy for climate action and environmental sustainability adopted as a positive contribution towards the achievement of the European Green Deal; welcomes the fact that the EIB is to be transformed into the EU’s new Climate Bank with 50 % of its operations to be dedicated to climate action and environmental sustainability by 2025, with an end to its support for fossil fuel projects by 2021, and with all its financing activities aligned with the principles and goals of the Paris Agreement by 2020;
Amendment 75 #
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 lending by 2025, as well as guarantees regarding the climate neutrality of the remaining loans, following an open and transparent public consultation process, and without compromising on other priorities, such as cohesion and competitiveness of the EU;
Amendment 79 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls for a strengthening of the eligibility criteria for climate action in order to avert the risk of investments not resulting in significant reductions in greenhouse gases (GHG), in particular with regard to bioenergy, low-carbon gases, carbon capture and storage and compensation programmes by ensuring coherence with relevant EU legislation and aligning EIB activities with the new taxonomy framework; considers that a general anti-abuse provision should support all EIB operations and be included in its declaration on environmental and social standards, which needs to be reviewed in 2020 and aligned with the 1.5°C global warming objective;
Amendment 82 #
Motion for a resolution
Paragraph 10
Paragraph 10
Amendment 96 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. INotes the decision by the EIB in 2013 to end support to the coal sector; is of the opinion that, in line with best practices in the commercial banking sector3 , EIB financing should be subject to ambitious scientific objectives and commitments, with a view to phasing out its support to clients whose activitiesprojects which lead to significant GHG emissions; _________________ 3 Crédit Agricole has undertaken to end support for undertakings which develop or plan to develop their activities in the coal sector. Crédit Agricole’s zero tolerance policy applies to all enterprises which develop or plan to develop their activities in the coal sector, ranging from extraction and energy production, to trade and transport.
Amendment 115 #
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 economyfocusing on the promotion of a circular economy, and with a view to aligning all sectoral loans to achieving climate neutrality by 2050, at the latest;
Amendment 117 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Reminds the EIB that biodiversity protection is a key element of adaptation to climate change and that the restoration of ecosystems is the only proven technology when it comes to negative emissions; calls on the EIB to include biodiversity- proofing components in their financial instruments in order to avoid adverse effects on biodiversity; invites the EIB to update its environmental and social standards; calls on the EIB to commit to ending the financing of projects which contribute to the loss and degradation of biodiversity and ecosystems, and to increase substantially its funding to achieve the EU’s objectives in this area, in particular the objective of zero net deforestation and the objectives of marine and coastal protection;
Amendment 123 #
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Urges the EIB and Member States to ensure a just transition towards a climate neutral economy; encourages the EIB to play an active role in supporting projects that contribute to a just transition, such as research, innovation and digitalisation, SMEs’ access to finance, and social investment and skills; calls for the EIB investment policy to provide targeted financing for European Green Deal initiatives as a matter of priority, while taking into account the additionality that EIB financing can provide in combination with other sources; stresses that coordination with other financing instruments is crucial given that the EIB alone cannot finance all of the European Green Deal initiatives;
Amendment 125 #
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19 b. Stresses the need for an anticipatory and participatory approach to ensure that all parts of society benefit from the transition; calls for support to regions, such as coal mining regions and carbon intensive regions, communities and workforces of sectors most affected by decarbonisation, also fostering the development of new joint projects and technologies for and with those communities and regions;
Amendment 128 #
Motion for a resolution
Paragraph 19 c (new)
Paragraph 19 c (new)
19 c. Considers that for the EIB to become the EU's climate bank and play a role in the just transition, it needs to advance mechanisms to better incorporate the input from various stakeholders, such as local and regional authorities, trade unions, NGOs and relevant experts in its investment strategy;
Amendment 129 #
Motion for a resolution
Paragraph 19 d (new)
Paragraph 19 d (new)
19 d. Notes that the EIB was a pioneer in launching the successful green bonds, which have raised more than EUR 23 billion over 11 years, with the global green bond market now worth more than EUR 400 billion; notes that a major challenge has been to set common standards so as to avoid green-washing; welcomes the EIB's new Sustainability Awareness Bonds, launched in 2018, designed to support investment in the UN Sustainable Development Goals; underlines the importance of setting common standards regarding these new bonds to ensure that projects are transparent, verifiable and measurable;
Amendment 131 #
Motion for a resolution
Paragraph 19 e (new)
Paragraph 19 e (new)
19 e. Notes that as the associated risks tend to be higher, sustainable investments normally have higher yields than standard ones and volumes therefore tend to be subdued; considers that the liquidity of sustainable financial products' markets must be deepened and this can only be done by increasing the number of products on the market; highlights that the private sector alone cannot be expected to reach the critical mass and the public sector must be more present in the sustainable financial assets' markets and increase its market share hence allowing for lower risks, lower yields, higher market participation and higher liquidity; calls on the EIB to further help develop the green bonds market, using the forthcoming EU taxonomy framework for sustainable financing;
Amendment 133 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Welcomes the strong financial support of the EIB for SMEs with a total investment, in 2018, of EUR 23.27 billion, which has benefitted 374 000 companies employing 5 million people;
Amendment 137 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Considers that, given the strategic role of SMEs, the EIB should continue its financial support and reinforce its administrative and advisory capacities to provide information and technical support to SMEs with a view to facilitating their access to finance; considers that financing directed to innovative enterprises is especially needed;
Amendment 144 #
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22 a. Suggests that the EIB further green its SME portfolio, for example, by earmarking higher shares to greener projects and by providing support to intermediary banks for setting up products that incentivise energy efficiency or renewable energy investments;
Amendment 147 #
Motion for a resolution
Paragraph 22 b (new)
Paragraph 22 b (new)
22 b. Suggests that the EIB support SME digitalisation to close the digital divide, which is growing between larger and younger firms and smaller and older firms in Europe;
Amendment 149 #
Motion for a resolution
Subheading 4
Subheading 4
Amendment 158 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Urges the EIB, the largest multilateral lender in the world, to maintain its leading role in future EU financing mechanisms for third countries; opposnotes the recent initiatives to encourage the EIB to be more active in defence and security, migration management and border control;
Amendment 160 #
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23 a. Notes that around 10% of EIB lending goes to external countries; notes that most support is allocated in Upper Middle Income Countries with only a few operations financed by the EIB in the Least Developed Countries;
Amendment 161 #
Motion for a resolution
Paragraph 23 b (new)
Paragraph 23 b (new)
23 b. Notes the recent statements by the EIB President Werner Hoyer on the EIB's focus on development; notes that the EIB has proposed a dedicated development subsidiary, the European Bank for Sustainable Development;
Amendment 162 #
Motion for a resolution
Paragraph 23 c (new)
Paragraph 23 c (new)
Amendment 163 #
Motion for a resolution
Paragraph 23 d (new)
Paragraph 23 d (new)
23 d. Encourages the EIB to improve its expertise on development projects, particularly projects involving direct loans to the private sector;
Amendment 164 #
Motion for a resolution
Paragraph 23 e (new)
Paragraph 23 e (new)
23 e. Encourages the EIB to enhance local cooperation, including before and during the implementation of projects, and to improve cooperation with EU delegations;
Amendment 165 #
23 f. Considers that the EIB should enhance monitoring of projects and improve reporting and evaluation of actual results achieved and analysis of actual economic, social and environmental impacts; suggests therefore an increase of numbers of its local staff in partner countries;
Amendment 166 #
Motion for a resolution
Paragraph 23 g (new)
Paragraph 23 g (new)
23 g. Notes that climate related financing signed in 2014-2018 is above the ELM target of 25%;
Amendment 167 #
Motion for a resolution
Paragraph 23 h (new)
Paragraph 23 h (new)
23 h. Asks the EIB to make full use of contractual clauses enabling it to suspend disbursements in cases of projects' non- compliance with environmental, social, human rights, tax and transparency standards;
Amendment 174 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. Urges the EIB to adopt a comprehensive and coherent human rights strategy, which, in the context of the forthcoming revision of its environmental social standards policy, to strengthen human rights principles, includesing the risk of reprisals against human rights defenders; recommends that this strategy include thee revised policy considers systematic assessment of human rights risks, including an ex-ante evaluation, and continuous monitoring on the ground; 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;
Amendment 193 #
Motion for a resolution
Paragraph 30
Paragraph 30
30. Asks the EIB, whilst respecting applicable EU legislation, to publish all information relating to direct loans subject to the approval of the Management Board, including by publishing for each project the opinion of the Commission and that of the Member State in which the project is located;
Amendment 203 #
Motion for a resolution
Paragraph 33
Paragraph 33
33. Calls for the regulatory framework governing the EIB’s duty of care obligations to be revised, in particular to strengthen the contractual terms with its clients, for example, regarding fraud and corruption;
Amendment 205 #
Motion for a resolution
Paragraph 33 a (new)
Paragraph 33 a (new)
33 a. Calls on the EIB to strengthen its anti-fraud and anti-corruption policies and ensure adequate resources to better protect EU financial interests;
Amendment 206 #
33 b. Calls on the EIB to step up its due diligence obligations in line with the EU Anti-Money Laundering legislation, and provide a complete regulatory framework to allow the Bank to effectively prevent involvement in illegal activity and ensure a proper sanctioning regime for failure to comply with EU law;
Amendment 217 #
Motion for a resolution
Paragraph 37
Paragraph 37
37. Calls foron the Commission, the European Court of Auditors to be fully empowered to audit all EIB operations(ECA) and the EIB to enhance the role of the ECA, in the upcoming renewal of the tripartite Agreement governing the rules of engagement; calls for the ECA to be fully empowered to audit all EIB operations, including evaluating the cost-effectiveness of he EIB's investment efforts and the additionality of its projects, and for it to draw up an annual report on the results of its external lending activities;