Activities of Frances FITZGERALD related to 2020/0100(COD)
Plenary speeches (1)
Public sector loan facility under the Just Transition Mechanism (debate)
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council on the public sector loan facility under the Just Transition Mechanism
Amendments (43)
Amendment 46 #
Proposal for a regulation
Recital 4
Recital 4
(4) A public sector loan facility (the ‘Facility’) should be provided. It constitutes the third pillar of the Just Transition Mechanism, supporting public sector entities in their investments. Such investments should meet the development needs resulting from the transition challenges described in the territorial just transition plans as adopted by the Commission. The activities envisaged for support should be consistent with and complement those supported under the other two pillars of the Just Transition Mechanism in order to ensure that all three pillars are working towards the same objectives. The Commission should monitor the complementarity between the three pillars on an ongoing basis and aim to develop synergies where possible.
Amendment 56 #
Proposal for a regulation
Recital 5
Recital 5
(5) In order to enhance the economic diversification of territories impacted by the transition, the Facility should cover a wide range of investments, on condition that they contribute to meet the development needs in the transition towards a climate neutral economy, as described in the territorial just transition plans. The investments supported may cover energy and transport infrastructurethe deployment of technology and infrastructure for affordable and sustainable energy and the decarbonisation of the transport sector, district heating networks, green mobility, smart waste management, clean energy and energy efficiency measures including renovations and conversions of buildings, urban renewal and regeneration, investments in care facilities, support to transition to a circular economy, land and ecosystem restoration and decontamination, protecting and restoring biodiversity and natural habitats, as well as up- andskilling, re-skilling, trainingnew skills development and training, with a focus on gender equality, and social infrastructure, including social housing. Infrastructure developments may also include solutions leading to their enhanced resilience to withstand disasters. Comprehensive investment approach should be favoured in particular for territories with important transition needs. Investments in other sectors could also be supported if they are consistent with the adopted territorial just transition plans. By supporting investments that do not generate sufficient revenues, the Facility aims at providing public sector entities with additional resources necessary to address the social, economic and environmental challenges resulting from the adjustment to climate transition. In order to help identify investments with a high positive environmental impact eligible under the Facility, the EU taxonomy on environmentally sustainable economic activities may be used. Technical and administrative assistance will be available in conjunction with such investments.
Amendment 79 #
Proposal for a regulation
Recital 7 a (new)
Recital 7 a (new)
(7 a) The COVID-19 pandemic has reinforced the importance of the Just Transition Mechanism with regard to the need to rebuild the economies of regions most affected by the climate transition. Given the interdependence between the climate transition and sustainable economic growth, there needs to be sufficient resources as part of the Public Sector Loan Facility to address the challenges of the transition to a climate neutral economy in the Union by 2050, which have been exacerbated by the COVID-19 pandemic.
Amendment 82 #
Proposal for a regulation
Recital 8
Recital 8
(8) EUR [15250 000 000] of the grant component of the Facility are expected to be financed from the Union budget in accordance with [new MFF proposal] and should constitute the prime reference amount, within the meaning of point 17 of the Inter-institutional Agreement of 2 December 2013 between the European Parliament, the Council and the Commission on budgetary discipline, on cooperation in budgetary matters and on sound financial management13 , for the European Parliament and the Council during the annual budgetary procedure. _________________ 13OJ C 373, 20.12.2013, p. 1. http://eur-lex.europa.eu/legal- content/EN/TXT/?uri=uriserv:OJ.C_.2013. 373.01.0001.01.ENG&toc=OJ:C:2013:373 :TOC
Amendment 83 #
Proposal for a regulation
Recital 9
Recital 9
Amendment 86 #
Proposal for a regulation
Recital 10
Recital 10
Amendment 88 #
Proposal for a regulation
Recital 11
Recital 11
Amendment 93 #
Proposal for a regulation
Recital 13
Recital 13
(13) In order to ensure that all Member States are granted the possibility to benefit from the grant component, a mechanism should be set up to establish earmarked national shares to be respected during a first stage, based on the distribution key proposed in the Just Transition Fund Regulation. This mechanism should be set up by way of a Commission Delegated Act setting out the respective shares for each Member State. However, in order to reconcile that objective with the need to optimise the economic impact of the Facility and its implementation, such national allocations should not be earmarked after 31 December 2024the Multiannual Financial Framework (MFF) 2021-2027. Thereafter, the remaining resources available for the grant component should be provided without any pre-allocated national share and on a competitive basis at Union level, while ensuring predictability for investment and following a needs-based and regional convergence approach, with an emphasis on those territories most affected by the climate transition.
Amendment 96 #
Proposal for a regulation
Recital 13
Recital 13
(13) In order to ensure that all Member States are granted the possibility to benefit from the grant component, a mechanism should be set up to establish earmarked national shares to be respected during a first stage, based on the distribution key proposed in the Just Transition Fund Regulation. However, in order to reconcile that objective with the need to optimise the economic impact of the Facility and its implementation, such national allocations should not be earmarked after 31 December 2024the Multiannual Financial Framework (MFF) 2021-2027. Thereafter, the remaining resources available for the grant component should be provided without any pre-allocated national share and on a competitive basis at Union level, while ensuring predictability for investment and following a needs-based and regional convergence and territorial cohesion approach.
Amendment 100 #
Proposal for a regulation
Recital 14
Recital 14
(14) Specific eligibility conditions and award criteria, which may include relevant criteria out of those established by Regulation (EU) .../... of the European Parliament and the Council [Regulation on establishment of a framework to facilitate sustainable investment], should be set out in the work programme and the call for proposals. Those eligibility conditions and award criteria should take into account the relevance of the project in the context of the development needs described in the territorial just transition plans, the overall objectives of promoting regional and territorial convergence and addressing the economic and social costs of the transition to a climate neutral economy in the Union by 2050, while ensuring that no one is left behind, and the significance of the grant component for the viability of the project. Union Support established by this Regulation should thus only be made available to Member States with at least one territorial just transition plan adopted. The work programme and calls for proposals will also take into account the territorial just transition plans submitted by Member States to ensure that coherence and consistency across the different pillars of the mechanism is ensured.
Amendment 109 #
Proposal for a regulation
Recital 15
Recital 15
(15) Support under this Facility should only be provided to projects that address the economic and social costs of the transition to a climate neutral economy in the Union by 2050 and that do not generate a sufficient stream of own revenues thatand would allow them to be financially viable and to be financed solely by loans provided on market termsnot secure project funding to the same extent or within the same timeline without the element of grant support from the Union budget. Own revenues should correspond to revenues, budgetary transfers excepted, generated directly by the activities carried out by the project, such as sales, fees or tolls and as incremental savings generated by the upgrade of existing assets.
Amendment 113 #
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15 a) Projects supported under this Facility should aim to be financially viable throughout the lifetime of the project. The Commission, in cooperation with beneficiaries and finance partners, should monitor the financial viability of projects under this Facility on an ongoing basis.
Amendment 115 #
Proposal for a regulation
Recital 16
Recital 16
(16) Since the grant component should reflect the divergent development needs of regions across Member States, such support should be modulatedprioritised in those regions. Taking into account that public sector entities in less developed regions, as defined in Article 102(2) of Regulation [new CPR], generally experience lower public investment capacity, the grant rates applied to loans provided to such entities should be comparatively higher.
Amendment 117 #
Proposal for a regulation
Recital 17
Recital 17
(17) In order to ensure an effective implementation of the Facility, it may be necessary to provide advisory support for the preparation, development, and implementation of projects. This support should be provided through the InvestEU Advisory Hub and financed from resources from the EU budget.
Amendment 123 #
Proposal for a regulation
Recital 21
Recital 21
(21) In order to set out an appropriate financial framework for the grant component of this Facility until 31 December 2024, implementing powersafter the Multiannual Financial Framework (MFF) 2021-2027, the power to adopt acts in accordance with Article 290 TFEU should be conferrdelegated ton the Commission to set out the available national allocations expressed as shares of the overall financial envelope of the Facility for each Member State in accordance with the methodology set out in Annex I of Regulation [the JTF Regulation]. The implementing powers should be conferred without comitology procedures given that the shares derive directly from the application of a pre- defined calculation methodology.
Amendment 124 #
Proposal for a regulation
Recital 21 a (new)
Recital 21 a (new)
(21 a) The Commission should report annually to the European Parliament and Council on the implementation, impact and activities of the Public Sector Loan Facility in order to provide proper democratic accountability.
Amendment 129 #
Proposal for a regulation
Recital 22
Recital 22
(22) The objective of this Regulation, namely to leverage public investment in territories, most impacted by the transition towards climate neutrality by addressing the corresponding development needs, cannot be sufficiently achieved by the Member States alone. The main reasons in this regard are the difficulties for public entities to solely support investments, which do not generate sufficient streams of own revenues and that benefit the territories most negatively impacted by climate transition, and which do not generate sufficient streams of own revenues without EU grant support and the need for a coherent implementation framework under direct management. Since those objectives can be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 TEU. In accordance with the principle of proportionality as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve that objective,
Amendment 138 #
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
The Facility shall provide support benefitting Union territories facing serious social, environmental, territorial and economic challenges deriving from the transition process towards a climate-neutral economy of the Union by 2050.
Amendment 156 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. The general objective of the Facility is to address serious socio- economic challenges deriving from the transition process towards a climate-neutral economy, while ensuring that no one is left behind as a result of the transition, for the benefit of the Union territories identified in the territorial just transition plans prepared by the Member States in accordance with Article 7 of Regulation [JTF Regulation].
Amendment 159 #
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
2. The Facility shall have the specific objective of increasing public sector investments, which address the development needs of regions identified in the territorial just transition plans, by facilitating the financing of projects that do not generate a sufficient stream of own revenues and would not be financedaddress the economic and social costs of the transition to a climate neutral economy in the Union by 2050 and that do not generate a sufficient stream of own revenues and would not secure project funding to the same extent or within the same timeline without the element of grant support from the Union budget.
Amendment 165 #
Proposal for a regulation
Article 3 – paragraph 3
Article 3 – paragraph 3
3. In pursuing the achievement of the specific objective referred to in paragraph 2, this Regulation also aims at providingenables the provision of advisory support for the preparation, development, and implementation of eligible projects where necessary. That advisory support shall be provided in accordance with the rules and implementation methods for the InvestEU Advisory Hub established by Article [20] of Regulation [InvestEU Regulation].
Amendment 166 #
Proposal for a regulation
Article 4 – paragraph 1 – introductory part
Article 4 – paragraph 1 – introductory part
1. Without prejudice to additional resources allocated in the Union budget for the period 2021-2027, the grant component of support provided under this Facility, including the advisory support for the preparation, development, and implementation of projects, shall be financed from:
Amendment 167 #
Proposal for a regulation
Article 4 – paragraph 1 – point a
Article 4 – paragraph 1 – point a
(a) resources from the Union budget for an amount of EUR 15250 000 000 in current prices, and.
Amendment 169 #
Proposal for a regulation
Article 4 – paragraph 1 – point b
Article 4 – paragraph 1 – point b
Amendment 173 #
Proposal for a regulation
Article 4 – paragraph 2
Article 4 – paragraph 2
Amendment 183 #
Proposal for a regulation
Article 4 – paragraph 6
Article 4 – paragraph 6
6. Resources up to an amount of EUR 250 000 000 included in those referred to in paragraph 1, shall be provided for activities set out in Article 3(3).
Amendment 189 #
Proposal for a regulation
Article 6 – paragraph 2
Article 6 – paragraph 2
2. For grants awarded pursuant to calls for proposals launched no later than 31 December 2024the duration of the Multiannual Financial Framework (MFF) 2021-2027, Union support awarded to eligible projects in a Member State shall not exceed the national shares set out in the decision to be adopted by the Commission pursuant to paragraph 4.
Amendment 190 #
Proposal for a regulation
Article 6 – paragraph 2
Article 6 – paragraph 2
2. For grants awarded pursuant to calls for proposals launched no later than 31 December 2024after the Multiannual Financial Framework (MFF) 2021-2027, Union support awarded to eligible projects in a Member State shall not exceed the national shares set out in the decision to be adopted by the Commission pursuant to paragraph 4.
Amendment 195 #
Proposal for a regulation
Article 6 – paragraph 3
Article 6 – paragraph 3
3. For grants awarded pursuant to calls for proposals launched as from 1 January 2025fter the period referred to in paragraph 2, Union support awarded to eligible projects shall be provided without any pre-allocated national share and on a competitive basis at Union level until exhaustion of remaining resources. The award of such grants shall take into account the need to ensure predictability of investment and the promotion of regional convergence and territorial cohesion.
Amendment 196 #
Proposal for a regulation
Article 6 – paragraph 3
Article 6 – paragraph 3
3. For grants awarded pursuant to calls for proposals launched as from 1 January 2025after the Multiannual Financial Framework (MFF) 2021-2027, Union support awarded to eligible projects shall be provided without any pre-allocated national share and on a competitive basis at Union level until exhaustion of remaining resources. The award of such grants shall take into account the need to ensure predictability of investment and the promotion of regional convergence.
Amendment 201 #
Proposal for a regulation
Article 6 – paragraph 4
Article 6 – paragraph 4
4. The Commission shall adopt a decision by means of an implementing delegated act setting out the respective shares for each Member State resulting from the application of the methodology set out in Annex I of Regulation [JTF Regulation] in the form of percentages of the total available resources.
Amendment 208 #
Proposal for a regulation
Article 8 – paragraph 1 – point a
Article 8 – paragraph 1 – point a
(a) the projects achieve measurable impactdemonstrate clear and measurable impact and output indicators in addressing serious social, economic or environmental challenges deriving from the transition process towards a climate- neutral economy in the Union by 2050 and benefit territories identified in a territorial just transition plan, even if they are not located in those territories;
Amendment 217 #
Proposal for a regulation
Article 8 – paragraph 1 – point b
Article 8 – paragraph 1 – point b
(b) the projects do not receive support under any other Union programmes for the same activities;
Amendment 222 #
Proposal for a regulation
Article 8 – paragraph 1 – point d
Article 8 – paragraph 1 – point d
(d) the projects do not generate a sufficient stream of own revenues allowing them to be financed without Union suppornd would not secure project funding to the same extent or within the same timeline without the element of grant support from the Union budget.
Amendment 226 #
Proposal for a regulation
Article 8 – paragraph 1 – point d a (new)
Article 8 – paragraph 1 – point d a (new)
(d a) the project, while addressing the economic and social costs of the transition to a climate neutral economy in the Union by 2050, aims to ensure financial viability throughout the lifetime of the project.
Amendment 236 #
2. The amount of the grant shall not exceed 15% of the amount of the loan provided by the finance partner under this Facility. For projects located in territories in NUTS level 2 regions with a GDP per capita not exceeding 75% of the average GDP of the EU-27 as referred to in Article [102(2)] of Regulation [new CPR], the amount of the grant shall not exceed 205% of the amount of the loan provided by the finance partner.
Amendment 246 #
Proposal for a regulation
Article 12 – paragraph 2
Article 12 – paragraph 2
2. Activities necessary to support the preparation, development and implementation of projects shall be eligible for advisory support and financed in accordance with article 4 of this Regulation.
Amendment 247 #
Proposal for a regulation
Article 13 – paragraph 1
Article 13 – paragraph 1
The Facility shall be implemented by work programmes established in accordance with Article 110 of the Financial Regulation. The work programmes shall set out the national shares of resources, including any additional resources, for each Member State in accordance with Articles 4(1) and 6(2) of this Regulation. The work programmes shall specify the eligibility and award criteria and conditions for the selection. Such award criteria may include relevant criteria of those laid down by Regulation (EU) .../... [Regulation on establishment of a framework to facilitate sustainable investment]. Those eligibility conditions and award criteria should take into account the relevance of the project in the context of the development needs described in the territorial just transition plans, the overall objectives of promoting regional and territorial convergence and addressing the economic and social costs of the transition to a climate neutral economy in the Union by 2050, while ensuring that no one is left behind, and the significance of the grant component for the viability of the project.
Amendment 258 #
Proposal for a regulation
Article 14 – paragraph 2 a (new)
Article 14 – paragraph 2 a (new)
2 a. Beneficiaries should monitor output indicators, in accordance with Article 8(a), on an ongoing basis and should regularly report to the Commission on the progress towards the achievement of such outputs.
Amendment 261 #
Proposal for a regulation
Article 15 – paragraph 2
Article 15 – paragraph 2
2. The interim evaluation of the Facility shall be performed by 30 June 20251 January 2024 and shall be submitted to the European Parliament and to the Council, when sufficient information is expected to be available about the implementation of the Facility. The evaluation shall in particular demonstrate how the Union support provided under the Facility shall have contributed in addressing the needs of territories implementing the territorial just transition plans.
Amendment 265 #
Proposal for a regulation
Article 15 – paragraph 3
Article 15 – paragraph 3
3. At the end of the implementation period and no later than 31 December 2031, the Commission shall submit to the European Parliament and to the Council a final evaluation report on the results and long-term impact of the Facility shall be established. The finance partners and beneficiaries shall provide to the Commission all documents and information necessary to enable it to perform that evaluation.
Amendment 270 #
Proposal for a regulation
Article 16 – paragraph 2
Article 16 – paragraph 2
2. The finance partners shall provide to the Commission and any designated auditors all available documents related to Union support that are necessary for both these authorities to carry out their obligations.
Amendment 275 #
Proposal for a regulation
Article 18 – paragraph 1 a (new)
Article 18 – paragraph 1 a (new)