44 Amendments of Patrizia TOIA related to 2018/0229(COD)
Amendment 62 #
Proposal for a regulation
Recital 5
Recital 5
(5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, advancing technologies and innovations combatting climate change, the sustainability of the Union's economic growth, the social resilience and inclusiveness and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners. It should be demand-driven while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union.
Amendment 68 #
Proposal for a regulation
Recital 6
Recital 6
(6) The InvestEU Fund should support investments in tangible and intangible assets to foster sustainable growth, investment and employment, and thereby contributing to improved well-being and fairer income distribution in the Union. Intervention through the InvestEU Fund should complement Union support delivered through grants.
Amendment 76 #
Proposal for a regulation
Recital 9
Recital 9
(9) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement and the United Nations Sustainable Development Goals, the InvestEU Programme will contribute to mainstream climate actions and to the achievement of an overall target of 2530 % of the Union budget expenditures supporting climate objectives. Actions under the InvestEU Programme are expected to contribute 3at least 40 % of the overall financial envelope of the InvestEU Programme to climate objectives. Relevant actions will be identified during the InvestEU Programme's preparation and implementation and reassessed in the context of the relevant evaluations and review processes.
Amendment 79 #
Proposal for a regulation
Recital 10
Recital 10
(10) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through an EU climate tracking system developed by the Commission in cooperation with implementing partners and using in an appropriate way the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment14 ] for determining whether an economic activity is environmentally sustainable. _________________ 14The InvestEU Programme will also contribute to implementing other dimensions of the Sustainable Development Goals (SDGs) in line with the Communication on the next steps for a sustainable European future which aims to mainstream the SDGs into EU policies and initiatives, with sustainable development as an essential guiding principle for all its policies. _________________ 14 COM(2018)353. COM(2018)353.
Amendment 87 #
Proposal for a regulation
Recital 13
Recital 13
(13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure and energy efficiency are fundamental to meet the Union's sustainability targets, including the Union's commitments towards the SDGs, and the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into sustainable development-compatible projects on transport, energy, including energy efficiency and renewable energy, environmental, climate action, maritime and digital infrastructure. InvestEU must prioritise the areas that enable the Union to meet its 2030 and mid-century sustainability and climate targets. To maximise the impact and the value added of Union financing support, it is appropriate to promote a streamlined investment process enabling visibility of the project pipeline and consistency across relevant Union programmes. Bearing in mind security threats, investment projects receiving Union support should take into account principles for the protection of citizens in public spaces. This should be complementary to the efforts made by other Union funds such as the European Regional Development Fund providing support for security components of investments in public spaces, transport, energy and other critical infrastructure.
Amendment 109 #
Proposal for a regulation
Recital 16
Recital 16
(16) Small and medium-sized enterprises (SMEs) and social economy enterprises play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs' need to stay competitive by engaging in digitisation, internationalisation and innovation activities and skilling up their workforce. Moreover, compared to larger enterprises, they have access to a more limited set of financing sources: they typically do not issue bonds, have only limited access to stock exchanges or large institutional investors. The challenge in accessing finance is even greater for those SMEs whose activities focus on intangible assets. SMEs in the Union rely heavily on banks and debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges and providing more diversified sources of funding is necessary for increasing the ability of SMEs to finance their creation, growth and development, withstand economic downturns, and for making the economy and the financial system more resilient during economic downturn or shocks. This is also complementary to the initiatives already undertaken in the context of the Capital Markets Union. The InvestEU Fund should provide an opportunity to focus on specific, more targeted financial products.
Amendment 110 #
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16a) Undertakings providing services of general interest play an essential and strategic role in key sectors with large network industries (energy, water, waste, environment, postal services, transport and telecommunications), health, education and social services. The European Union, by supporting these undertakings, safeguards the wellbeing of its citizens and democratic choices, inter alia concerning the quality of services;
Amendment 122 #
Proposal for a regulation
Recital 19
Recital 19
(19) Each policy window should be composed of two compartments, that is to say an EU compartment and a Member State compartment. The EU compartment should address Union-wide market failures or sub-optimal investment situations in a proportionate manner; supported actions should have a clear European added value. The Member State compartment should give Member States the possibility to contribute a share of their resources of Funds under shared management to the provisioning of the EU guarantee to use the EU guarantee for financing or investment operations to address specific market failures or sub-optimal investment situations in their own territory, including in vulnerable and remote areas such as the outermost regions of the Union, to deliver objectives of the Fund under shared management. Actions supported from the InvestEU Fund through either EU or Member State compartments should not duplicate or crowd out private financing or distort competition in the internal market. The resources of this fund do not replace the public and private local guarantee activities already operating, and it is necessary to promote the integration of the various support systems so as to achieve the additionality objectives of the interventions.
Amendment 124 #
Proposal for a regulation
Recital 19 a (new)
Recital 19 a (new)
(19a) The InvestEU Fund should also support just transition actions and strategies supporting investments addressing the situation of workers in specific sectors like coal/lignite mining, automotive, that could be affected from the transition to a low-carbon economy. The Invest EU fund should be able to support the transformation of those economies towards sustainable activities and attract alternative innovative businesses, start-ups, and industries with the aim of building a sustainable regional economy. Further synergies with additional supporting schemes like the modernisation Fund to be set up for the period 2021-2030 as well as other national and Union ‘s programmes addressing fair transition should also be promoted.
Amendment 147 #
Proposal for a regulation
Recital 29
Recital 29
(29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart's capacity to fulfil the objectives of the InvestEU Fund and contribute its own resources, in order to ensure adequate geographical coverage and diversification, to crowd-in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the European Investment Bank (‘EIB’) Group should remain a privileged implementing partner under the InvestEU Fund's EU compartment. In addition to the EIB Group, national promotional banks or institutionbanks, including commercial and local banks, national promotional institutions and consortia that provide guarantees should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the Union, combining the characteristics of their financial products with the requirements of the Fund. Moreover, it should be possible to have other international financial institutions as implementing partners, in particular when they present a comparative advantage in terms of specific expertise and experience in certain Member States. It should also be possible for other entities fulfilling the criteria laid down in the Financial Regulation to act as implementing partners.
Amendment 157 #
Proposal for a regulation
Recital 31
Recital 31
(31) The EU guarantee under the Member State compartment should be allocated to any implementing partner eligible according to [Article 62(1)(c)] of the [Financial Regulation], including national or regional promotional banks or institutions, the EIB, the European Investment Fund and other multilateral development banks. When selecting implementing partners under the Member State compartment, the Commission should take into account the proposals made by each Member State. In accordance with [Article 154] of the [Financial Regulation], the Commission must carry out an assessment of the rules and procedures of the implementing partner to ascertain that they provide a level of protection of the financial interest of the Union equivalent to the one provided by the Commission. The evaluation should ensure limited bureaucratic barriers and costs that do not affect the return on investment and influence rates.
Amendment 167 #
Proposal for a regulation
Recital 47 a (new)
Recital 47 a (new)
(47a) The programme should be accessible to beneficiaries thanks to greater publicity and transparency, including on the part of financial and banking intermediaries. There is therefore a need for more information and constant monitoring of the implementation of the actions.
Amendment 177 #
Proposal for a regulation
Article 2 – paragraph 1 – point 12
Article 2 – paragraph 1 – point 12
Amendment 184 #
Proposal for a regulation
Article 3 – paragraph 1 – point b
Article 3 – paragraph 1 – point b
(b) the sustainability of the Union economy and its growthgrowth of a sustainable economy, enabling the Union to achieve the SDGs and the objectives of the Paris Climate agreement;
Amendment 192 #
Proposal for a regulation
Article 3 – paragraph 2 – point c
Article 3 – paragraph 2 – point c
(c) to increase the access to and the availability of finance for SMEs and, in duly justified cases, by adopting specific reference criteria, for small mid-cap companies;
Amendment 199 #
Proposal for a regulation
Article 3 – paragraph 2 – point d a (new)
Article 3 – paragraph 2 – point d a (new)
(da) to contribute to an overall target of at least 30% of the EU budget expenditures that must support climate objectives and to allocate to that end at least 40% of the overall financial envelope of the EUInvest Programme to support investments that will directly help to deliver on the EU’s commitments in the Paris Agreement, the EU's 2030 climate and energy targets monitored by Regulation EU (XX) [Governance of the Energy Union] and a net-zero greenhouse gas emissions economy by 2050.
Amendment 202 #
Proposal for a regulation
Article 3 – paragraph 2 – point d b (new)
Article 3 – paragraph 2 – point d b (new)
(db) to increase investment in climate mitigation and adaptation by contributing at least 40% of its overall financial envelope to climate objectives.
Amendment 210 #
Proposal for a regulation
Article 4 – paragraph 2
Article 4 – paragraph 2
2. The indicative distribution of the amount referred to in the first subparagraph of paragraph 1 is set out in Annex I to this Regulation. The Commission may modify the amounts referred to in that Annex I, where appropriate, by up to 15 % for each objective. It shall inform the European Parliament and the Council of any modification.
Amendment 212 #
Proposal for a regulation
Article 4 – paragraph 4
Article 4 – paragraph 4
4. The amount referred to in paragraph 3 may also be used for technical and administrative assistance for the implementation of the InvestEU Programme, such as preparatory, monitoring, control, audit and evaluation activities including corporate information technology systems. The purpose of these activities shall be to reduce bureaucratic and economic burden for beneficiaries.
Amendment 213 #
Proposal for a regulation
Article 4 – paragraph 4
Article 4 – paragraph 4
4. The amount referred to in paragraph 3 may also be used for technical and administrative assistance for the implementation of the InvestEU Programme, such as preparatory, monitoring, control, audit and evaluation activities including corporate information technology systems, but may not exceed 5% of the value of the financial envelope defined in paragraph 1.
Amendment 220 #
Proposal for a regulation
Article 7 – paragraph 1 – point a
Article 7 – paragraph 1 – point a
(a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy,renewable energy, energy efficiency investments, in line with the 2030 and 2050 energy frameworks; digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 226 #
Proposal for a regulation
Article 7 – paragraph 1 – point b
Article 7 – paragraph 1 – point b
(b) research, innovation and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative companies other than SMEs as well as digitisation of Union industry;
Amendment 230 #
Proposal for a regulation
Article 7 – paragraph 1 – point c
Article 7 – paragraph 1 – point c
(c) SMEs policy window: access to and availability of finance for SMEs and, in duly justified cases, for small mid-cap companies; by adopting specific reference criteria, for small mid-cap companies and business clusters and networks;
Amendment 234 #
Proposal for a regulation
Article 7 – paragraph 1 – point d
Article 7 – paragraph 1 – point d
(d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training, including management training for SMEs and for worker buyouts, and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities with a social goal; integration of vulnerable people, including third country nationals.
Amendment 241 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 1
Article 7 – paragraph 3 – subparagraph 1
Financing and investment operations under the sustainable infrastructure policy window referred to in point (a) of paragraph (1) shall be subject to climate, environmental and social sustainability proofing with a view to minimise detrimental impacts and maximise benefits on climate, environment and social dimension. For that purpose, promoters requesting financing shall provide adequate information based on guidance to be developed by the Commission. Projects below a certain size defined in the guidance shall be excluded from the proofing., using criteria established by the [Regulation on the establishment of a framework to facilitate sustainable investment] for determining whether an economic activity is environmentally sustainable. Projects below a certain size defined in the guidance shall be excluded from the proofing, but must demonstrate the positive contribution to the environmental and social sustainability objectives of the Union
Amendment 249 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 2 a (new)
Article 7 – paragraph 3 – subparagraph 2 a (new)
estimate the impact on employment and job creation;
Amendment 260 #
Proposal for a regulation
Article 8 – paragraph 2
Article 8 – paragraph 2
2. The compartments referred to in paragraph 1 may be used in a complementary manner to support a financing or investment operation, including by combining support from both compartments. Furthermore, the compartments should not duplicate private financing in order not to distort competition on the internal market.
Amendment 286 #
Proposal for a regulation
Article 10 – paragraph 2
Article 10 – paragraph 2
2. Support of the EU guarantee may be granted for financing and investment operations covered by this Regulation for an investment period ending on 31 December 2027. This support must entail higher provisioning rates for SMEs which show that they are facing objective difficulties in gaining access to credit. Contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in Article 13(1)(a) shall be signed by 31 December 2028.
Amendment 296 #
Proposal for a regulation
Article 11 – paragraph 1 a (new)
Article 11 – paragraph 1 a (new)
1a. The InvestEU Fund shall not support activities related to production, processing, distribution, storage or combustion of fossil fuels, with the exception of investment related to clean vehicles as defined in Article 4 of Directive 2009/33/EC of the European Parliament and of the Council.
Amendment 307 #
(ca) permits the involvement of the commercial and local banking system;
Amendment 312 #
Proposal for a regulation
Article 12 – paragraph 3 a (new)
Article 12 – paragraph 3 a (new)
3a. performance indicators which will help to assess the specialisation of the services of potential partners, either directly or by means of guarantee agreements with other legal persons, in relation to undertakings, particularly SMEs;
Amendment 313 #
Proposal for a regulation
Article 12 – paragraph 4
Article 12 – paragraph 4
4. National promotional banks or institutionBanks, with a particular emphasis on the commercial and local banking system, national promotional institutions and consortia that provide guarantees may be selected as implementing partners, subject to fulfilling the requirements laid down in this Article and in the second subparagraph of Article 14(1).
Amendment 361 #
Proposal for a regulation
Article 20 – paragraph 6
Article 20 – paragraph 6
6. The InvestEU Advisory Hub shall have local presence, w in order to support the exchange of good practices and information and to increase knowledge of investment opportunities in the re necessarygions as well. The Hub shall establish a direct dialogue between businesses, intermediaries and the Community institutions. It shall be established in particular in Member States or regions that face difficulties in developing projects under the InvestEU Fund. The InvestEU Advisory Hub shall assist in the transfer of knowledge to the regional and local level with a view to building up regional and local capacity and expertise for support referred to in paragraph 1.
Amendment 402 #
Proposal for a regulation
Annex II – paragraph 1 – point 1 a (new)
Annex II – paragraph 1 – point 1 a (new)
1a. deployment of electric charging infrastructure.
Amendment 428 #
Proposal for a regulation
Annex II – paragraph 1 – point 5 – point b
Annex II – paragraph 1 – point 5 – point b
(b) corporate projects, including vocational and managerial training and promotion of the creation of clusters and business networks;
Amendment 434 #
Proposal for a regulation
Annex II – paragraph 1 – point 5 – point f
Annex II – paragraph 1 – point 5 – point f
(f) new effective and accessible healthcare products, including pharmaceuticals, medical devices and advanced therapy medicinal products, having difficulties to find appropriate private funding.
Amendment 437 #
Proposal for a regulation
Annex II – paragraph 1 – point 6 – introductory part
Annex II – paragraph 1 – point 6 – introductory part
6. Development and deployment of advanced digital technologies and services which contribute to the digitisation of industry in the Union, in particular through:
Amendment 444 #
Proposal for a regulation
Annex II – paragraph 1 – point 6 – point f
Annex II – paragraph 1 – point 6 – point f
(f) other advanced digital technologies and services contributing to the digitisation of industry in the Union.
Amendment 447 #
Proposal for a regulation
Annex II – paragraph 1 – point 7 – introductory part
Annex II – paragraph 1 – point 7 – introductory part
7. Financial support to entities employing up to 3 000 employees, with a particular focus on SMEs and small mid- cap companies, in particular through:
Amendment 478 #
Proposal for a regulation
Annex III – point 1 – point 1.4 a (new)
Annex III – point 1 – point 1.4 a (new)
1.4a Synergies with other European programmes
Amendment 488 #
Proposal for a regulation
Annex III – point 4 a (new)
Annex III – point 4 a (new)
4a. Number of alternative fuel infrastructure points deployed
Amendment 489 #
Proposal for a regulation
Annex III – point 4 b (new)
Annex III – point 4 b (new)
4b. Climate change: Amount of CO2 emissions reduced by Invest EU operations.
Amendment 495 #
Proposal for a regulation
Annex III – point 6 – point 6.1
Annex III – point 6 – point 6.1
6.1 Number of enterprises supported by size (micro, small, medium sized and, in duly justified cases, small mid-caps)
Amendment 498 #
Proposal for a regulation
Annex III – point 6 – point 6.2 a (new)
Annex III – point 6 – point 6.2 a (new)
6.2a Number of traditional enterprises undergoing transformation and receiving assistance with innovation