69 Amendments of Eero HEINÄLUOMA related to 2020/2124(INI)
Amendment 3 #
Draft opinion
Paragraph 1
Paragraph 1
1. CNotes the increasing economic role played by the EIB, also in the context of the economic recovery from the shock created by the coronavirus pandemic; is of the opinion that further assessment of EIB activities and lending policy may be needed to ensure additionality of EIB financing; following this assessment, calls on the Member States to urgently agree on capital increase, both cash-in and callable in nature; calls for risks to be taken in the area of green and digital innovation in order to catalyse the just and digital transitions and to stop the financing of stranded assets;
Amendment 17 #
Motion for a resolution
Recital B a (new)
Recital B a (new)
B a. whereas the EIB has taken on a significant role in mobilising financing to the economy following the economic fallout caused by the COVID-19 pandemic in 2020;
Amendment 19 #
Draft opinion
Paragraph 2
Paragraph 2
2. Reiterates that all financial flows of the European Investment Bank (EIB) Group should be consistent with the goal of achieving net zero emissions by 2050 at the latest and the Union’s new climate objective for 2030; looks forward towelcomes the adoption in 2020 of an ambitious Climate Bank Roadmap 2021-25 (CBRM), which is focussed on ensuring that the transition is green and socially just, and with the aim that the EIB invests in projects that simultaneously support the transition and enhance socio-economic development and which is to include a detailed strategic and operational framework with milestones and a shadow carbon price of at least EUR 100/tonne by 2025; calls for all financial intermediaries and corporate clients to have a decarbonisation plan in place by the end of 20215;
Amendment 20 #
Motion for a resolution
Recital B b (new)
Recital B b (new)
B b. whereas the EIB committed in 2019 to support the objectives of the European Green Deal, align all its financing activities with the goals of the Paris Agreement and become the ‘EU Climate Bank’;
Amendment 21 #
Motion for a resolution
Recital B c (new)
Recital B c (new)
B c. whereas the EIB Board of Directors approved the Climate Bank Roadmap (CBR);
Amendment 22 #
Motion for a resolution
Recital B d (new)
Recital B d (new)
B d. whereas the EIB has started the review process of its 2011 Transport Lending Policy, with the goal of supporting accessible, efficient, green and safe transport;
Amendment 23 #
Motion for a resolution
Recital B e (new)
Recital B e (new)
B e. whereas support for SMEs and Midcaps is a fundamental public policy goal of the EIB; whereas in 2019 alone, the EIB Group supported over 386 600 SMEs and mid-caps with new financing; whereas support for SMEs accounted for 35% of overall EIB signature volume;
Amendment 24 #
Motion for a resolution
Recital B f (new)
Recital B f (new)
B f. whereas EIB investment has the capacity to support the social sector, including health, education and housing;
Amendment 25 #
B g. whereas in 2019 the EIB approved loans worth EUR 7.8 billion for projects outside the Union, including EUR 1.1 billion in least developed countries (LDCs) and fragile states;
Amendment 26 #
Motion for a resolution
Recital B h (new)
Recital B h (new)
B h. whereas the EIB Group is currently working to develop counterparty alignment guidelines with environmental and sustainability objectives;
Amendment 27 #
Motion for a resolution
Paragraph -1 (new)
Paragraph -1 (new)
-1. Stresses that the economic and social crisis caused by the Covid-19 pandemic has significantly harmed economic growth in the EU and that one of the main fallouts is the decline in investment; underlines that the fall in public and private investment has reached alarming levels;
Amendment 35 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Supports the European Council’s conclusion that the EIB should have the necessary capital to implement Union policies and the invitation to the EIB Board of Governors to review the capital adequacy of the EIB in view of the instruments included in the MFF and NGEU, as well as the Bank's contribution to the Union's ambitions in fighting climate change and digitalising Europe's economy;
Amendment 46 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Takes the view that a capital increase is justified in order to allow the Bank to provide long-term finance and support key real economy investments that otherwise would have not taken place, while keeping the current AAA status;
Amendment 49 #
Draft opinion
Paragraph 4
Paragraph 4
4. Expects the CBRM and the EIB’s revised transport lending policy not to fall below the standard of EU taxonomy; calls for no new loans to be granted that hinder the decarbonisation of transport, and, in particular, no new financing to be awarded for the expansion of airports, for increased road capacity, for port expansions inon the EIB to align the lending policy with the European Commission’s strategy for sustainable and smart mobility and with other relevant areas of EU transport policy; calls on the EIB to involve stakeholders and the Europe and related infrastructure or for the shipping of liquefied natural gas; Parliament when preparing the new transport lending policy.
Amendment 49 #
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3 b. Calls, in this context, on the European Commission to study the possibility to be represented in the EIB Board of Governors through the subscription of capital of the EIB using funds from the EU budget;
Amendment 61 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Commends the EIB for setting out targets and carrying out evaluations of the economic, social and environmental impacts of projects supported, as well as their additionality and sustainability;
Amendment 64 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Underlines that the coronavirus pandemic has been a significant shock for the EU and the global economy, with severe economic and social impacts; underlines that SMEs are the backbone of European economy, but many SMEs are facing unprecedented challenges, especially liquidity challenges due to the pandemic; in this context, welcomes the EIB €25bn protection shield EU guarantee fund, which aims to make more financing available for small and medium companies and mid-caps via financial intermediaries; supports also the agreement reached by the European Parliament and the Council on the InvestEU instrument, which provides a window dedicated to SMEs and horizontal provisions allowing capital support; calls on the EIB and the participating Member States to prioritise policies enhancing job creation and retention and to monitor and measure the impact of the funds to ensure real outcomes.
Amendment 64 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Stresses the importance of avoiding further geographical imbalances in the EIB’s lending activity so as to ensure a broader geographical and sectoral allocation of investments, reduce regional disparities and enhance convergence; welcomes the efforts already made by the EIB in this regard; notices with concern, however, that, according to the geographical breakdown of lending by country in which projects are located, four Member States received almost 50% of the total loans granted in 2019;
Amendment 69 #
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Welcomes the improvement in diversity in the EIB in gender balance with an increase of women at senior officer and management level positions to 33% and 30% respectively in 2019; welcomes the targets set by the EIB for 2021 to further increase the share of women in these positions; calls on the EIB to continue to promote all forms of diversity and inclusion within its organisation and to set ambitious targets.
Amendment 69 #
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Calls for the EIB to address systemic deficiencies that prevent certain regions or countries from taking full advantage of EIB financial opportunities, by, inter alia, strengthening its efforts to expand its loan activities, providing technical assistance and advisory support, especially in regions which attract low investment and which did not benefit significantly from the derogation to the State-aid rules during the pandemic crisis because of the lack of financial capacity of the State;
Amendment 72 #
Draft opinion
Paragraph 5 c (new)
Paragraph 5 c (new)
5 c. Calls on the EIB to meet the objectives of its Social Standards and its Strategy for Gender Equality and Women's economic empowerment, and allocate the required internal resources, including human resources, to ensure its full implementation; asks for an update on the gender strategy implementation; calls for gender impacts to be considered also at project level.
Amendment 76 #
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Calls, in this context, on the EIB to consider proposing additional incentives for projects and credit lines already approved in order to get the projects off the ground as soon as possible and ensure the swift implementation of funds;
Amendment 77 #
Draft opinion
Paragraph 5 d (new)
Paragraph 5 d (new)
5 d. Reiterates the request to publish the content of the meetings of all the EIB’s governing bodies systematically, and asks for more transparency concerning the meetings of the Management Committee, including meeting agendas and external meetings, and their outcomes.
Amendment 78 #
Draft opinion
Paragraph 5 e (new)
Paragraph 5 e (new)
5 e. Calls on a new ambitious standard on financial intermediaries, with specific benchmarks to select intermediaries following stringent tax, transparency, environmental and social standards.
Amendment 79 #
Draft opinion
Paragraph 5 f (new)
Paragraph 5 f (new)
5 f. Notes that the corona pandemic has had a huge negative impact on children’s education and wellbeing across the globe, with millions of children still lacking access to education due to lockdown measures and therefore being at risk of regression and suffering potential lifelong effects; welcomes the EIB's investment in education, as investing in education helps to eradicate poverty, boost economic growth and improve gender equality; calls on the EIB to increase its investment into education to help mitigate the severe impact of the corona crisis on education systems globally.
Amendment 79 #
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Notes that in the context of the Coronavirus response and as of 30 September 2020, the EIB has approved 84 operations within the EU for a total investment of €23,5 billion; notes as well that 88% of the approved operations were allocated to SMEs and mid-caps and the health sector;
Amendment 80 #
Draft opinion
Paragraph 5 g (new)
Paragraph 5 g (new)
5 g. The lack of access to finance for SMEs and midcaps, particularity in the innovation field, remains a structural market failure; calls on the EIB to enhance cooperation with financial intermediaries and NPBIs in order to reach a wide array of SMEs and midcaps; calls on the EIB to priorities projects creating sustainable jobs and reducing inequalities as well as growth capital to enable SMEs to scale up their operations.
Amendment 81 #
Draft opinion
Paragraph 5 h (new)
Paragraph 5 h (new)
5 h. Notes that the EIB will play a key role in Europe's corona pandemic recovery; calls on the EIB to be prepared for an important advisory role on investment in the just climate and digital transitions, SMEs, cohesion, and the recovery; calls on the EIB to maximise investment levels to curb long term negative impacts of the pandemic.
Amendment 81 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Welcomes the EIB’s participation in COVAX, by investing €400 million in the COVAX Advanced Market Commitment;
Amendment 82 #
Draft opinion
Paragraph 5 i (new)
Paragraph 5 i (new)
5 i. Looks forward to the EIB review of its transparency policy in 2021; calls on the EIB to increase pro-activeness in the timely publication of more ample information on its financing activities as with increased responsibility must come increased accountability, also towards the European Parliament; reminds that transparency is one of the cornerstones of democracy.
Amendment 83 #
Draft opinion
Paragraph 5 j (new)
Paragraph 5 j (new)
5 j. Welcomes the increased EIB investment in the health sector, including in R&D and innovation for developing a coronavirus vaccine; however, stresses that EIB activities should not contribute towards increasing privatisation of healthcare.
Amendment 84 #
Draft opinion
Paragraph 5 k (new)
Paragraph 5 k (new)
5 k. Calls on the EIB to apply more stringent tax transparency standards, namely subjecting the granting of direct and indirect loans to publication of tax and accounting data country by country by the beneficiaries and to the sharing of beneficial ownership data on the beneficiaries and financial intermediaries involved in financing operations;
Amendment 85 #
Draft opinion
Paragraph 5 l (new)
Paragraph 5 l (new)
Amendment 86 #
Draft opinion
Paragraph 5 m (new)
Paragraph 5 m (new)
5 m. Notes that the EIB is still reviewing its anti fraud policy and urges the EIB to swiftly adopt the updated policy; calls on the EIB to step up its due diligence obligations in line with 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; calls on the EIB to enhance checks on politically exposed persons.
Amendment 87 #
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11 a. Welcomes the fact that in 2019 31% of EIB’s lending was climate- related;
Amendment 108 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Notes that the EIB will structure future work on the implementation of the Roadmap around ten new Action Plans, which will build on the first five years of implementation of the EIB’s 2015 Climate Strategy; Demands, in this context, to be regularly and fully informed on the implementation of the Roadmap;
Amendment 111 #
Motion for a resolution
Paragraph 14 b (new)
Paragraph 14 b (new)
14 b. Calls on the EIB to continue to advance mechanisms to better incorporate the inputs from various stakeholders, such as local and regional authorities, trade unions, NGOs and relevant experts, in its investment strategy as the EU’s Climate Bank;
Amendment 112 #
Motion for a resolution
Paragraph 14 c (new)
Paragraph 14 c (new)
14 c. Welcomes the EIB’s commitment to support the European Commission’s Sustainable Finance Action Plan, in particular by aligning with the EU Taxonomy for tracking climate action and environmental sustainability finance, and by adopting the “Do No Significant Harm” criteria as a base to evaluate projects;
Amendment 113 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Recalls that the review of the EIB’s transport lending policy is a key priority; stresses the importance of aligning the EIB’s transport portfolio with the Paris Agreement as soon as possible; calls for the swift adoption of a new transport financing policy strategy aiming to decarbonise the EU transport sector by 2050 and promote accessible, efficient, green and safe means of transport; underlines, in this context, that the EIB should continue its engagement in financing innovation and green technology for aviation;
Amendment 128 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Calls on the EIB to support projects aimed at facilitating a just transition in the Member States; underlines that the transition towards a carbon-neutral economy must be inclusive, fair and must leave no one behind; suggests the EIB to proactively work with Member States in view of supporting regions where jobs are highly dependent on high-emitting industries;
Amendment 129 #
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16 b. Welcomes the fact that the EIB is the world’s largest issuer of green bonds which have raised € 34,6 billion of Climate Awareness Bonds and Sustainability Awareness Bonds over 12 years; calls on the EIB to continue and to expand the issuance of green bonds to enhance the liquidity of that market and to remain involved in the development of an EU green bond standard;
Amendment 140 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17 a. Welcomes the fact that in 2019 the EIB supported innovation and skills with €14.4 billion; calls the EIB to enhance its support for innovation and skills;
Amendment 141 #
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17 b. Recalls that SMEs are the back bone of Europe's economy, representing 99% of all businesses in the EU and employing at around 100 million people Welcomes the fact that in 2019 the EIB provided financing for SMEs and mid- caps with total investment amounting to €25.5 billion, supporting 386 000 companies;
Amendment 146 #
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Notes that the COVID-19 outbreak revealed the fragility of the EU’s supply chains and the insufficiency of IT networks; calls on the EIB to align its investment strategy to help ensure greater resilience of the internal market’s value chains and strengthen the European industrial sector, especially in strategic areas;
Amendment 149 #
Motion for a resolution
Paragraph 18 b (new)
Paragraph 18 b (new)
18 b. Calls on the EIB to mobilise sufficient support for infrastructure on delivering faster internet speed to all regions in the EU and bridge the existing digital divide;
Amendment 153 #
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Calls on the EIB to continue its support towards advancing digital skills, in particular for employees in sectors of the economy in need adjustment and requalification;
Amendment 154 #
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19 b. Calls on the EIB to enhance its support to innovative European companies through all stages of development, from seed to growth capital, financing the creation of a knowledge economy by combining investment in skills, research, infrastructure and energy efficiency with support for young tech companies;
Amendment 158 #
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20 a. Underlines that the EIB will continue to be the main investment partner for the implementation of the InvestEU programme;
Amendment 159 #
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20 b. Welcomes the EIB’s commitment to invest in the social sector, thereby fostering well-being, access to education, health and housing, as well as the acquisition of skills required by a modern knowledge-based economy;
Amendment 165 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Calls on the EIB to play an active role in helping Member States to deliver on the implementation of the European Pillar of Social Rights, while standing ready to align with the forthcoming Commission action plan and the Social Summit in Porto; points toreiterates the importance of ex-ante and ex- post evaluations of the sustainability, economic, social and environmental impact of projects backed directly or indirectly by the EIB;
Amendment 170 #
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22 a. Calls on the EIB to refrain from participating in projects which may weaken citizens’ access to high quality public services;
Amendment 171 #
Motion for a resolution
Paragraph 22 b (new)
Paragraph 22 b (new)
22 b. Notes that the COVID-19 pandemic has had a huge negative impact on children’s education and well-being across the globe, with millions of children still without access to education due to lockdown measures and therefore at risk of regression and suffering potential lifelong effects; welcomes the EIB’s investment in education, as investing in education helps to eradicate poverty, boost economic growth and improve gender equality; calls on the EIB to increase its investment in education to help mitigate the severe impact of the COVID-19crisis on education systems globally;
Amendment 172 #
Motion for a resolution
Subheading 6
Subheading 6
Amendment 173 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Welcomes the fact that the EIB is the largest multilateral lender in the world that strives to support EU external cooperation and development policies; notes that the EIB has been active outside the EU for over 50 years with €64.8bn loans granted in 106 different countries as of end-2019, of which EUR 7.9bn were signed in 2019;
Amendment 175 #
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23 a. Insists that the EIB should apply the same standards and criteria to assess and evaluate projects inside and outside the European Union, including those recently agreed in the CBR ; Considers, in this context, that the EIB should enhance its monitoring and reporting of projects outside the EU and improving its analysis of the economic, social and environmental impacts;
Amendment 176 #
Motion for a resolution
Paragraph 23 b (new)
Paragraph 23 b (new)
23 b. Welcomes the provisional agreement reached between the European Council and the European Parliament on the regulation setting up the Neighbourhood, Development and International Cooperation Instrument; notes in particular the role the EIB will play in the context of the European Fund for Sustainable Investment;
Amendment 183 #
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24 a. Stresses the need for full alignment of EIB investments in third countries with EU external action and sustainable development priorities;
Amendment 192 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. Proposes the establishment of a protocol for a Memorandum of Cooperation between the EIB and Parliament, applicable with immediate effect, in order to improve interinstitutional dialogue and enhance the EIB’s transparency and accountability, specifying the rights of Parliament and its Members as regards access to documents, data, questions put to the EIB, regular hearings and economic dialogues;
Amendment 221 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Welcomes the EIB’s Group Strategy on Gender Equality and Gender Action Plan; takes note of the 2019 Progress Report on Diversity and Inclusion; notes that women represent 51.4% of the EIB workforce; regrets the fact that women are still not sufficiently represented in managerial and senior office positions; believes that more needs to be done in this regard during the implementation of the second phase of the Action Plan in 2021; calls, therefore, on the EIB to further encourage the participation of women and actively promote a balance gender representation in its senior positions;
Amendment 237 #
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30 a. Calls on the EIB to take advantage of the ongoing review of its overall policy on alignments with counterparties and ensure greater transparency and stricter due diligence over its partners and their eligibility to disburse EIB-backed funds under strict conditionality, comprising ethical, integrity, social and environmental criteria;
Amendment 239 #
30 b. Reiterates, in this regard, its call on the EIB to only work with counterparties which have decarbonisation plans in place by the end of 2025, without prejudice to the ability of the EIB to offer technical assistance on devising such decarbonisation plans;
Amendment 240 #
Motion for a resolution
Paragraph 30 c (new)
Paragraph 30 c (new)
30 c. Asks the EIB to provide more regular, in-depth and comprehensive information on the financial intermediaries responsible to redistribute loans in the context of lending operations and include contractual clauses concerning mandatory disclosures from these institutions;
Amendment 241 #
Motion for a resolution
Paragraph 30 d (new)
Paragraph 30 d (new)
Amendment 242 #
Motion for a resolution
Paragraph 30 e (new)
Paragraph 30 e (new)
30 e. Calls on the EIB to reinforce contractual clauses enabling it to suspend disbursements in cases of projects' non- compliance with environmental, social, human rights, tax and transparency standards;
Amendment 243 #
Motion for a resolution
Paragraph 30 f (new)
Paragraph 30 f (new)
30 f. Welcomes that the EIB Anti- Fraud Policy, which is the main framework on preventing and deterring Prohibited Conduct in EIB activities, is currently being revised;
Amendment 244 #
Motion for a resolution
Paragraph 30 g (new)
Paragraph 30 g (new)
30 g. Calls furthermore for a stringent Exclusion Policy, to provide the Bank with the possibility to go beyond the application of contractual remedies, by excluding entities found engaged in fraud, corruption, money laundering or other forms of wrongdoing from EIB financing;
Amendment 245 #
Motion for a resolution
Paragraph 30 h (new)
Paragraph 30 h (new)
30 h. Takes note of the December 2020 Anti-Money Laundering and Combating Financing of Terrorism Framework of the EIB; is concerned that the framework outlined is not detailed on specific procedures to align the Bank’s activities with EU law, namely on customer due diligence and in particular when enhanced due diligence takes place;
Amendment 246 #
Motion for a resolution
Paragraph 30 i (new)
Paragraph 30 i (new)
30 i. Welcomes the adoption of the EIB Group non-cooperation jurisdiction (NCJ) policy in 2019 and subsequent revision of implementing internal procedures; recalls that the policy foresees a general prohibition to enter into operations with contracting counterparties incorporated or established in NCJs, except under strict conditions;
Amendment 247 #
Motion for a resolution
Paragraph 30 j (new)
Paragraph 30 j (new)
30 j. Welcomes the European Court of Auditors’ work with respect to Union budget funds managed by the EIB and calls on the institutions to agree on enhancing ECA audit rights within the limits of the EU Treaties;