7 Amendments of Pierre LARROUTUROU related to 2019/2126(INI)
Amendment 12 #
Motion for a resolution
Citation 18 a (new)
Citation 18 a (new)
- having regard to the Statute of the ECB, Article 2 of which lays down that, if the objective of price stability is achieved and is not called into question, its monetary policy must be placed at the service of the EU's objectives as defined in Article 3 of the Treaty on European Union, which mentions explicitly 'improvement of the quality of the environment' as a Union objective, and that the ECB's stated desire to contribute actively to the success of the Green Deal in no way runs counter to the Treaties,
Amendment 20 #
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas, in its Communication of 14 January 2020, the Commission states that, if the Green Deal is to succeed, there is an annual shortfall of between EUR 260 and 500 billion in investment to be made up;
Amendment 22 #
Motion for a resolution
Recital E b (new)
Recital E b (new)
Eb. whereas, in order to contribute to financing the Green Deal, the European Investment Bank has announced its intention to halt investment in fossil fuels and to double green lending in order to bring the latter up to 50% of its balance sheet, but whereas this highly praiseworthy initiative will result in only EUR 16 billion in additional loans;
Amendment 24 #
Motion for a resolution
Recital E c (new)
Recital E c (new)
Ec. whereas, in order for the EIB- Climate Bank significantly to increase its loans, it needs to have fresh capital, but whereas many Member States do not want to increase their contributions to its capital;
Amendment 25 #
Motion for a resolution
Recital E d (new)
Recital E d (new)
Ed. whereas the ECB has stated its intention to green its balance sheet and take an active part in the success of the Green Deal;
Amendment 26 #
Motion for a resolution
Recital E e (new)
Recital E e (new)
Ee. whereas the ECB does not have the right to become a shareholder of the EIB, but whereas there is nothing to stop it making quasi-equity investments in the EIB by means of subrogated loans; whereas over the past four years, the ECB has increased its balance sheet by 2 600 billion and will increase it by a further 240 billion in 2020; whereas, if it provided 100 billion in quasi-equity investments, the ECB would boost the EIB's capital to 50 billion, which would enable the EIB- Climate Bank to pursue a much more ambitious lending policy;
Amendment 70 #
Motion for a resolution
Paragraph 7 – point 1 (new)
Paragraph 7 – point 1 (new)
1. Plans to work with the Commission to foster joint reflection by investigating the possibility of the ECB boosting the EIB's quasi-equity investments (or a subsidiary of the EIB dedicated specifically to the climate) to enable the EIB-Climate Bank to make a much bigger contribution to meeting the need for investment, which is estimated at between 260 and 500 billion;