19 Amendments of Raphaël GLUCKSMANN related to 2021/2176(INI)
Amendment 13 #
Motion for a resolution
Recital E
Recital E
E. whereas one of the top priorities of the European Green Deal is to respond to the challenges of climate change and environmental degradation; whereas all EU policies need to contribute to these goals, including investment policy; whereas substantial investments are needed worldwide in order to achieve the aims of the European Green Deal, meet the UN Sustainable Development Goals, and recover from the COVID-19 pandemic, and achieve strategic autonomy;
Amendment 17 #
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas, in order to attract investment, labour standards, respect for the environment and corporate social responsibility should not be lowered in the sustainable development chapters of EU IIA;
Amendment 22 #
Motion for a resolution
Recital G a (new)
Recital G a (new)
Ga. whereas foreign direct investment (FDI) in developing countries is a primary means of financing the 2030 Agenda for Sustainable Development; whereas such capital can support job creation, and social and environmental improvements as set out in the SDGs;
Amendment 42 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Points out that the definition of investment as codified in EU IIAs covers not only greenfield investments, but also financial instruments that can be held for purely speculative purposes or for the extraction of rent; considers that such financial instruments which can be withdrawn at any time do not require long-term protection, and calls on the Commission to narrow the definition of investment accordingly;
Amendment 44 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Points out that the definition of investment as codified in EU IIAs covers not only greenfield investments, but alsoshould not cover financial instruments that can be held for purely speculative purposes or for the extraction of rent;
Amendment 63 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Stresses that an alarming number of investment claims target environmental measures; regretcondemns the fact that various countries, including the Member States, are being sued in relation to policies on climate, the phasing out of fossil fuels, or the just transition;
Amendment 67 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Urges the Commission to exclude invensure consistments in fossil fuels or any other activities that pose significant harm to the environment and human rightcy between IIAs and EU environment policies, labour rights and human rights, in particular by excluding investments in fossil fuels from treaty protections, in particularcluding investor- state arbitration mechanisms, and by including in the sustainable development chapters provisions that help to comply with the Paris Agreement and international treaties on labour and gender equality;
Amendment 73 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Points out that even in the absence of legal proceedings, the explicit or implicit threat of recourse to investment arbitration can enhance the position of investors in negotiations with states (the ‘chilling effect’); calls on the Commission to follow the same line as in recent trade IIA and to clarify the right of the government to prioritise legitimate public policy objectives, even if it may affect the profit expectations of an investor;
Amendment 77 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Stresses that IIAs do not contain investor obligations; stresses that only foreign investors can launch investment cases against states; regrets the fact that having a case dismisseTakes note of provisions in IIAs for environmental, labour and corporate responsibility obligations for states and investors and the non-lowering of standards, but regrets that the reform of investor obligations has not kept pace with that of investor rights; notes that in the majority of IIAs, only foreign investors can launch investment cases against states; urges the Commission to accelerate multilateral discussions to expand investor obligations and its the best possible outcome for respondent stateenforcement, including through negotiations for a UN Binding Treaty on Business and Human Rights;
Amendment 84 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Is concerned that recent EU IIAs still contain broad protection standards which can be used to challenge legitimate public policies, thus risking to slow down the necessary efforts to fight climate change; asks the Commission to only allow protection against discrimination, direct expropriation and the gross denial of justice, and to ensure that foreign investors are not accorded superior rights to those enjoyed by domestic investors;
Amendment 91 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Underlines the fact that EU IIAs negotiated after 2009 still include sunset clauses which prevent easy termination; points out thatcalls on Member States and the other contracting parties canto agree to neutralise sunset clauses;
Amendment 95 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Underlines that the considerable damages awarded by investment tribunals have imposed a significant financial burden on respondent states; points out that the use of valuation methods generally used by adjudicators is highly controversial owing to their very wide margin of discretion and reliance on highly complex and inherently speculative assumptions; invites the Commission to review the provisions governing compensation in EU IIAestablish transparency rules and safeguards in relation to the provisions governing compensation in EU IIAs; encourages the Commission to include in the negotiations on the Multilateral Investment Court the introduction of rules setting out in a transparent manner the compensation to be paid by states;
Amendment 100 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Stresses that the increasing recourse by investors to third parties to finance their litigation in exchange for a return in the outcome of an award (third-party funding) is adding incentives to increase the number of claims; invitestakes note of progress to make third-party funding for investor-state disputes more transparent, and calls on the Commission to support the restriction of third- party funding for investor-state disputes or even to propose measures to restrict this practice which encourages speculation on awards;
Amendment 113 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls on the Commission to ensure that all of the Member States’ bilateral investment treaties are fully compatible with EU law; supports the Commission in strictly applying the conditions for authorising the negotiation, signature and conclusion of new agreements by Member States; including transparently demonstrating the compatibility of BIT provisions with minimum EU standards;
Amendment 115 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls on the Commission to ensure that all of the Member States’ bilateral investment treaties are fully compatible with EU law and does not pose any risk to its development, enforcement and application; supports the Commission in strictly applying the conditions for authorising the negotiation, signature and conclusion of new agreements by Member States;
Amendment 122 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Points out that the ECT is the most litigated investment agreement in the world today; welcomes efforts to modernise the ECT and the EU’s position to exclude protection for most fossil fuel investments; noteregrets that investments considered ‘significantly harmful’ under the EU taxonomy would remain protected according to the EU’s position, and that exemptions on certain gas investments, as well as the timeframe for phasing out the protection of existing investments, risk undermining the achievement of EU’s climate objectives; underlines that amending the ECT requires unanimity of all contracting parties voting at the annual conference;
Amendment 135 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Urges the Commission to ensure that a revised ECT will immediately prohibit fossil fuel investors from suing contracting parties for pursuing policies to phase out fossil fuels in line with their commitments under the Paris Agreement; calls on the Commission and the Member States to start preparing a coordinated exit from the ECT and an agreement excluding the application of the sunset clause between Member States with a view to formal submission to the Council in the event of the negotiating objectives not being achieved by June 2022;
Amendment 150 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. CStrongly criticises the significant delay in the ratification and implementation of the UN Convention on Transparency in Treaty-based Investor- State Arbitration; calls on the Member States to adopt without delay the proposal for a Council decision on thefor its conclusion, on behalf of the EU, of the UN Convention on Transparency; points to recent rulings of the ECJ on exclusive and shared competences in Trelaty-based Investor- State Arbitraion to international treaty ratification which may offer guidance on unblocking the ratification of this Convention;
Amendment 161 #
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Underlines the importance of maintaining, strengthening and implementing the clauses in the new EU IIAs that prohibit the lowering of standards, as they are critical to avoid a "race to the bottom" in countries attracting foreign investment; calls on the Commission to analyse their effectiveness further, in particular in developing countries, to ensure that tax policy and development finance are aligned to support a "race to the top"; notes that tax revenues are crucial for developing countries to provide basic public services; and urges the Commission to work at multilateral level to promote sustainable investment facilitation which is not pursued through competitive tax breaks among others by continuing its work on the Joint Initiative on Investment Facilitation for Development in the framework of the WTO that aims to increase the participation of developing and least-developed WTO members in global investment flows;