48 Amendments of Sirpa PIETIKÄINEN related to 2020/0108(COD)
Amendment 1 #
Proposal for a regulation
Recital 1
Recital 1
(1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of strategic industries on non-diversified external supply sources. Such vulnerabilities need to be addressed, to improve the Union’s emergency response as well as the resilience of the entire economy, while maintaining its openness to competition and trade in line with its rules. Investment activity is expected to have dropped significantly. Even before the pandemic, while a recovery in investment-to-GDP ratios in the Union could be observed, it remained below what might be expected in a strong recovery and was insufficient to compensate for years of underinvestment following the 2009 crisis. More importantly, the current investment levels and forecasts do not cover the Union’s needs for structural investment to restart and sustain long-term sustainable growth in the face of climate transition, environmental degradation, technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium- sized enterprises (SMEs) and the need to address key societal challenges such as sustainability or population ageing. Consequently, in order to achieve the Union's policy objectives of the European Green Deal, Sustainable Europe Investment Plan, and to support a swift, sustainable, inclusive and healthy economic recovery, support is necessary to address market failures and sub-optimal investment situations and to reduce the investment gap in targeted sectors.
Amendment 15 #
Proposal for a regulation
Recital 5
Recital 5
(5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence and cohesion of the Union, including in the fields of innovation and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social and environmental resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises. To that end, the InvestEU Fund should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments backed up by a guarantee from the Union budget and by financial contributions from implementing partners as relevant. The InvestEU Fund should be demand-driven, while at the same time it should focus on providing strategic, long-term benefits in relation to key areas of Union policy which otherwise would not be funded or would be insufficiently funded, thereby contributing to meeting policy objectives of the Union. Support under the InvestEU Fund should cover a wide range of sectors and regions, but should avoid excessive sectoral or geographical concentration and should facilitate access of projects composed of partner entities in multiple regions across the EU.
Amendment 17 #
Proposal for a regulation
Recital 8
Recital 8
(8) The Union endorsed the objectives set out in the United Nations 2030 Agenda for Sustainable Development (the "2030 Agenda"), its Sustainable Development Goals (SDGs) and the Paris Agreement adopted under the United Nations Framework Convention on Climate Change24 ("Paris Agreement on Climate Change") as well as the Sendai Framework for Disaster Risk Reduction 2015-2030. To achieve those objectives, as well as those set out in the environmental policies of the Union, action pursuing sustainable development is to be stepped up significantly. Therefore, the principles of sustainable development, environmental sustainability in line with the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle, climate neutrality and the cost of non-action should feature prominently in the design of the InvestEU Fund. _________________ 24 OJ L 282, 19.10.2016, p. 4.
Amendment 29 #
Proposal for a regulation
Recital 10
Recital 10
(10) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement on Climate Change and the SDGs, the InvestEU Programme will contribute to mainstream climate actions and to the achievement of an overall target of 2540 % of the Union budget expenditures supporting climate objectives. Actions under the InvestEU Programme are expected to contribute 360 % 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 34 #
Proposal for a regulation
Recital 11
Recital 11
(11) The contribution of the InvestEU Fund to the achievement of the climate targetneutrality target by 2030 and by 2050 at the latest, will be tracked through a Union climate and sustainability tracking system to be developed by the Commission in cooperation withbased on harmonised sustainability indicators and Natural Capital Accounting, in cooperation with the scientific community and academia and potential implementing partners, appropriately using the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment25 ] for determining whether an economic activity is environmentally sustainable. The InvestEU Programme should also contribute to the implementation of other dimensions of the SDGs. _________________ 25 COM(2018)353.
Amendment 38 #
Proposal for a regulation
Recital 12
Recital 12
(12) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include the pollution of air, soil, inland waters and oceans, extreme weather events, biodiversity losses and failures of climate- change mitigation and adaptation. Environmental principles are strongly embedded in the Treaties and many of the Union's policies. Therefore, the mainstreaming of environmental objectives should be promoted inthe EU taxonomy criteria and the 'do no significant harm' principle should be adhered to in all operations related to the InvestEU Fund. Environmental protection and the prevention and management of related risks should be integrated in the preparation and implementation of investments. The Union should also track its biodiversity-related and air pollution control-related expendituresimpact, including in order to fulfil the reporting obligations under the Convention on Biological Diversity26 and under Directive (EU) 2016/2284 of the European Parliament and of the Council27 . Investment allocated to environmentally sustainability objectives should therefore be tracked using common methodologies that are consistent withand Natural Capital Accounting, Life Cycle Analysis and harmonised sustainability indicators, and methodologies developed under other Union programmes that apply to climate, biodiversity and air pollution management in order to allow the assessment of the individual and combined impact of investments on the key components of natural capital, including air, water, land and biodiversity. _________________ 26 OJ L 309, 13.12.1993, p. 3. 27Directive (EU) 2016/2284 of the European Parliament and of the Council of 14 December 2016 on the reduction of national emissions of certain atmospheric pollutants, amending Directive 2003/35/EC and repealing Directive 2001/81/EC (OJ L 344, 17.12.2016, p. 1).
Amendment 44 #
Proposal for a regulation
Recital 13
Recital 13
(13) Investment projects that receive substantial Union support, in particular in the area of infrastructure, should be screened by the implementing partner to determine whether they have an environmental, climate or social impact. Investment projects that have such an impact should be subject to sustainability proofing in accordance with guidance that should be developed by the Commission in close cooperation with potential implementing partners under the InvestEU Programme. This guidance should appropriately use the criteria established by [Regulation on establishment of a framework to facilitate sustainable investment] for determining whether an economic activity is environmentally sustainable and consistent with the guidance developed for other programmes of the Union. Consistent with the principle of proportionality, such guidance should include adequate provisions for avoiding undue administrative burdens, and projects below a certain size as to be defined in the guidance should be excluded from the sustainability proofing. Where the implementing partner concludes that no sustainability proofing is to be carried out, it should provide a justification to the Investment Committee established for the InvestEU Fund. Operations that are inconsistent with the achievement of the climate objectivesWhere the implementing partner concludes that no sustainability proofing is to be carried out, it should provide a justification to the Investment Committee established for the InvestEU Fund. Operations that are inconsistent with the achievement of the climate and other environmental objectives and which do not comply with the criteria laid down in the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle, particularly activities related to the production, processing, distribution, storage, transport or combustion of fossil fuels, should not be eligible for support under this Regulation.
Amendment 46 #
Proposal for a regulation
Recital 14
Recital 14
(14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, climate neutrality, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long- term. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting 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 transport, energy, including energy efficiency and renewable energy sources and other safe and sustainable lowzero- emission energy sources, environmental infrastructure, infrastructure related to climate action, maritime infrastructure and digital infrastructure. The InvestEU Programme should prioritise areas that are under-invested, and in which additional investment is required. To maximise the impact and added value of Union financing support, it is appropriate to promote a streamlined investment process that enables visibility of the project pipeline and maximises synergies across relevant Union programmes in areas such as transport, energy and digitisation. Bearing in mind threats to environment, safety and security, investment projects receiving Union support should not go to activities that significantly harm the environment and the environmental objectives laid down in the EU taxonomy established by Regulation (EU) 2020/852, should include measures for infrastructure and climate resilience, including infrastructure maintenance and safety, and should take into account principles for the protection of citizens in public spaces and the environmental precautionary principle. This should be complementary to the efforts made by other Union funds that provide support for security components of investments in public spaces, transport, energy and other critical infrastructure, such as the European Regional Development Fund.
Amendment 49 #
Proposal for a regulation
Recital 15
Recital 15
(15) Where appropriate, tThe InvestEU Programme should contribute to the objectives of Directive (EU) 2018/2001 of the European Parliament and of the Council28 and the Governance Regulation29 , as well as promote energy efficiency in investment decisions. _________________ 28Directive (EU) 2018/2001 of the European Parliament and of the Council of 11 December 2018 on the promotion of the use of energy from renewable sources (OJ L 328, 21.12.2018, p. 82). 29Regulation (EU) 2018/1999 of the European Parliament and of the Council of 11 December 2018 on the Governance of the Energy Union and Climate Action, amending Regulations (EC) No 663/2009 and (EC) No 715/2009 of the European Parliament and of the Council, Directives 94/22/EC, 98/70/EC, 2009/31/EC, 2009/73/EC, 2010/31/EU, 2012/27/EU and 2013/30/EU of the European Parliament and of the Council, Council Directives 2009/119/EC and (EU) 2015/652 and repealing Regulation (EU) No 525/2013 of the European Parliament and of the Council (OJ L 328, 21.12.2018, p. 1).
Amendment 62 #
Proposal for a regulation
Recital 28
Recital 28
(28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions and of enhanced resilience in areas of (i) activities contributing to the environmental objectives in line with the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle; (ii) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity and of the civil protection system, (iii) critical infrastructure, whether physical or virtual; (iiiv) provision of goods and services instrumental to the operation and maintenance of such infrastructure, (iv) key enabling, transformative, green and digital technologies and game-changing innovations where the investment is strategically important for the Union’s industrial future, including artificial intelligence, blockchain, software, robotics, semiconductors, microprocessors, edge cloud technologies, high-performance computing, cybersecurity, quantum technologies, photonics, industrial biotechnology, renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies, cleagreen hydrogen produced with electricity from renewables and fuel cell applications, decarbonisation technologies for industry, carbon capture and storage, circular economy technologies biomedicine, nanotechnologies, pharmaceuticals and advanced materials; (vi) manufacturing facilities for mass production of Information Communication and Technology components and devices in the EU; (vii) supply and stockpiling of critical inputs to public actors, businesses or consumers in the Union; (viii) critical technologies and inputs for the security of the Union and its Member States, such as defence and space sectors and cybersecurity, and dual use items as defined in point 1 of Article 2 of Council Regulation (EC) No 428/2009. The final recipients should have their registered office in a Member State and they should be active in the Union in the sense that they have substantial activities in terms of staff, manufacturing, research and development or other business activities in the Union. Projects which contribute to diversification of strategic supply chains in the Single Market through operations in multiple locations across the EU should be able to benefit.
Amendment 68 #
Proposal for a regulation
Recital 29
Recital 29
(29) The strategic European investment window should also target suppliers established and operating in the Union whose activities are of strategic importance to the Union and adhere to the 'do no significant harm' principle, and that would need long term investment or are covered by the Foreign Direct Investment Screening mechanism. In addition, important projects of common European interest should in particular be able to benefit from the strategic European investment window.
Amendment 71 #
Proposal for a regulation
Recital 34
Recital 34
(34) In order to be able to channel support to the European economy through the European Investment Fund (EIF), the Commission should be in a position to participate in one or more possible capital increases of the EIF in order to allow it to continue supporting the European economy and its green recovery. The Union should be able to maintain its overall share in the EIF capital, with due consideration of the financial implications. A sufficient financial envelope to this effect should be foreseen in the Multiannual Financial Framework for 2021-2027.
Amendment 72 #
Proposal for a regulation
Recital 35
Recital 35
(35) The Commission should seek the views of other potential implementing partners and other stakeholders including local authorities and civil society, along with the EIB Group on investment guidelines, the climate tracking system, the sustainability proofing guidance documents and common methodologies, as appropriateincluding Natural Capital Accounting and Life Cycle Analysis, with a view to ensuring inclusiveness and operationality until the governance bodies have been set up, after which the involvement of implementing partners should take place within the framework of the Advisory Board and the Steering Board of the InvestEU Programme.
Amendment 78 #
Proposal for a regulation
Recital 45
Recital 45
(45) The Commission should assess the compatibility of investment and financing operations submitted by the implementing partners with all Union law and policies, particularly the 'do no significant harm' principle laid down in Regulation (EU) 2020/852. The decisions on financing and investment operations should ultimately be taken by an implementing partner.
Amendment 79 #
Proposal for a regulation
Recital 46
Recital 46
(46) An Investment Committee composed of independent experts should conclude on the granting of the support from the EU guarantee to financing and investment operations fulfilling the eligibility criteria, particularly the 'do no significant harm' principle, thereby providing external expertise in investment assessments in relation to projects. The investment committee should have different configurations to cover different policy areas and sectors in the best way possible.
Amendment 82 #
Proposal for a regulation
Recital 55
Recital 55
(55) The InvestEU Advisory Hub should support the development of a robust pipeline of investment projects in each policy window through advisory initiatives and local level project nurseries bringing together innovators, project promoters and financers that are implemented by the EIB Group or other advisory partners, or are implemented directly by the Commission. The InvestEU Advisory Hub should promote geographic diversification with a view to contributing to the Union objectives of climate neutrality, the European Green Deal, economic, social, and territorial cohesion and reducing regional disparities. The InvestEU Advisory Hub should pay particular attention to the aggregation of small-sized projects into larger portfolios. The Commission, the EIB Group and the other advisory partners should cooperate closely with a view to ensuring efficiency, synergies and effective geographic coverage of support across the Union, taking into account the expertise and local capacity of local implementing partners, as well as the European Investment Advisory Hub established under Regulation (EU) 2015/1017 of the European Parliament and of the Council34 . In addition, the InvestEU Advisory Hub should provide a central entry point for project development assistance delivered under the InvestEU Advisory Hub to public authorities and for project promoters. _________________ 34Regulation (EU) 2015/1017 of the European Parliament and of the Council of 25 June 2015 on the European Fund for Strategic Investments, the European Investment Advisory Hub and the European Investment Project Portal and amending Regulations (EU) No 1291/2013 and (EU) No 1316/2013 — the European Fund for Strategic Investments (OJ L 169, 1.7.2015, p.1).
Amendment 83 #
Proposal for a regulation
Recital 57
Recital 57
(57) In order to ensure a wide geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the InvestEU Fund, a local presence of the InvestEU Advisory Hub should be ensured, where needed, taking into account existing support schemes and the presence of local partners, with a view to provide tangible, proactive, tailor-made assistance on the ground. In order to facilitate the provision of advisory support at local level and to ensure efficiency, synergies and effective geographic coverage of support across the Union, the InvestEU Advisory Hub should cooperate with national promotional banks or institutions, and should benefit from and make use of their expertise, and create local and regional level project nurseries bringing together innovators, project promoters and financers, and helping the projects to become eligible for financing.
Amendment 85 #
Proposal for a regulation
Recital 60
Recital 60
(60) The InvestEU Portal should be established to provide for an easily accessible and user-friendly project database and a public EU sustainability data register to promote visibility of investment projects searching for financing with enhanced focus on the provision of a possible pipeline of investment projects, compatible with Union law and policies, to the implementing partners.
Amendment 87 #
Proposal for a regulation
Recital 62
Recital 62
(62) Pursuant to paragraphs 22 and 23 of the Interinstitutional agreement for Better Law-Making of 13 April 201635 , there is a need to evaluate the InvestEU Programme on the basis of information collected through specific monitoring requirements, while avoiding overregulation and administrative burdens, in particular on Member States. These requirements, where appropriate, can include measurable indicators should include measurable and comparable sustainability indicators and sustainability proofing, as a basis for evaluating the effects of the InvestEU Programme on the ground and to the environment. _________________ 35 OJ L 123, 12.5.2016, p. 1.
Amendment 90 #
Proposal for a regulation
Article 2 – paragraph 1 – point 9
Article 2 – paragraph 1 – point 9
(9) 'contribution agreement' means a legal instrument whereby the Commission and one or more Member States specify the conditions of the EU guarantee under the Member State compartment and under a national transition plan that ensure that investments comply and significantly contribute to climate and other environmental objectives in line with the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle, as laid down in Article 9;
Amendment 91 #
Proposal for a regulation
Article 2 – paragraph 1 – point 12
Article 2 – paragraph 1 – point 12
(12) 'funds under shared management' means funds that provide for the possibility of allocating a portion of those funds to the provisioning for a budgetary guarantee under the Member State compartment of the InvestEU Fund, namely the European Regional Development Fund (ERDF), the European Social Fund Plus (ESF+), the Cohesion Fund, the European Maritime and Fisheries Fund (EMFF), the European Agriculture Fund for Rural Development (EAFRD) and the [Just Transition Fund (JTF)]42 , while respecting the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle; _________________ 42 COM(2020)22 final.
Amendment 92 #
Proposal for a regulation
Article 2 – paragraph 1 – point 21
Article 2 – paragraph 1 – point 21
(21) ‘investment guidelines’ means the guidelines established by a delegated act referred to in Article 7(7), and which specify how to comply and significantly contribute to climate and other environmental objectives in line with the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle;
Amendment 98 #
Proposal for a regulation
Article 3 – paragraph 1 – point b
Article 3 – paragraph 1 – point b
(b) growth and employment in the Union economy, the sustainability of the Union economy and its environmental and climate dimensionobjectives contributing to the achievement of the European Green Deal and climate neutrality, the SDGs and the objectives of the Paris Agreement on Climate Change and to the creation of high-quality jobs;
Amendment 100 #
Proposal for a regulation
Article 3 – paragraph 1 – point g
Article 3 – paragraph 1 – point g
(g) the sustainable and inclusive recovery of the Union economy after the crisis caused by the Covid-19 pandemic, upholding and strengthening its strategic value chains and maintaining and reinforcing activities of strategic importance to the Union in relation to critical infrastructure, transformative technologies, game-changing innovations and inputs to businesses and consumers, supporting the sustainable transition in line with the EU taxonomy established by Regulation (EU) 2020/852 and based on time-bound and science-based targets.
Amendment 101 #
Proposal for a regulation
Article 3 – paragraph 2 – point b
Article 3 – paragraph 2 – point b
(b) supporting financing and investment operations in line with the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle, such as related to research, innovation and digitisation, including support for the scaling up of innovative companies and the rolling out of technologies to market, in the areas referred to in point (b) of Article 7(1);
Amendment 103 #
Proposal for a regulation
Article 6 – paragraph 2 – point a
Article 6 – paragraph 2 – point a
(a) be consistent with the policy objectives, the 'do no significant harm' principle, and comply with the eligibility criteria set out in the rules of the Union programme under which the support is decided;
Amendment 105 #
Proposal for a regulation
Article 7 – paragraph 1 – point a
Article 7 – paragraph 1 – point a
(a) a sustainable infrastructure policy window which comprises sustainable investment in the areas of transport, including multimodal transport, road safety, including in accordance with the Union objective of eliminating fatal road accidents and serious injuries by 2050, the renewal and maintenance of rail and road infrastructure, energy, in particular renewable energy, energy efficiency in accordance with the 2030 energy framework, and the Union's climate neutrality goal, based on time-bound and science-based targets buildings renovation projects focused on energy savings and the integration of buildings into a connected energy, storage, digital and transport systems, improving interconnection levels, digital connectivity and access, including in rural areas, supply and processing of raw materials, space, oceans, water, including inland waterways, waste management in accordance with the waste hierarchy and the circular economy, nature and other environment infrastructure, cultural heritage, tourism, equipment, mobile assets and the deployment of innovative technologies that contribute to the environmental or climate resilience or social sustainability objectives of the Union and that meet the environmental or social sustainability standards of the Union;
Amendment 127 #
(a a) innovations supporting, enabling and accelerating the green transition towards climate neutral, circular and sustainable economy in line with the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle, measured by science-based and time-bound targets,
Amendment 129 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – point iv – point b
Article 7 – paragraph 1 – point e – point iv – point b
(b) energy efficiency and renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies, cleagreen hydrogen produced with electricity from renewables and fuel cell applications, decarbonisation technologies for industry, carbon capture and storage, circular economy technologies,
Amendment 148 #
Proposal for a regulation
Article 7 – paragraph 2
Article 7 – paragraph 2
2. Where a financing or investment operation proposed to the Investment Committee referred to in Article 23 falls under more than one policy window, it shall be screened against the EU taxonomy screening criteria etablished by Regulation (EU) 2020/852 and particularly the 'do no significant harm' principle. It shall be attributed to the policy window under which its main objective or the main objective of most of its sub- projects falls, unless the investment guidelines provide otherwise.
Amendment 151 #
Proposal for a regulation
Article 7 – paragraph 3
Article 7 – paragraph 3
3. Financing and investment operations shall be screened to determine whether they have an environmental, climate or social impact. If those operations have such an impact they shall be subject to climate, environmental and social sustainability proofing with a view to minimispreventing detrimental impacts and to maximising benefits to the climate, environment and social dimensions. For that purpose, project promoters that request financing shall provide adequate information based on the guidance referred to in paragraph 4. Projects below a certain size specified in the guidance shall be excluded from the proofing. Projects that are inconsistent with the climate objectives and which do not comply with the criteria laid down in the EU taxonomy established by Regulation (EU) 2020/852 shall not be eligible for support under this Regulation. In case the implementing partner concludes that no sustainability proofing is to be carried out, it shall provide a justification to the Investment Committee.
Amendment 154 #
Proposal for a regulation
Article 7 – paragraph 4 – introductory part
Article 7 – paragraph 4 – introductory part
4. The Commission shall develop sustainability guidance that, in accordance with UnionRegulation (EU) 2020/852 and the Union's climate, environmental and social objectives and standards, allows to:
Amendment 156 #
Proposal for a regulation
Article 7 – paragraph 4 – point -a (new)
Article 7 – paragraph 4 – point -a (new)
(-a) support partners and beneficiaries with regards to how EU taxonomy objectives and the 'do no significant harm' principle can be achieved and implemented;
Amendment 157 #
Proposal for a regulation
Article 7 – paragraph 4 – point a
Article 7 – paragraph 4 – point a
(a) as regards adaptation, ensure resilience to the potential adverse impacts of climate change through a climate vulnerability and risk assessment, including through relevant adaptation measures, and, as regards mitigation, integrate the cost of greenhouse gas emissions, applying a transformative carbon price and the positive effects of climate mitigation measures in the cost- benefit analysis;
Amendment 162 #
Proposal for a regulation
Article 7 – paragraph 4 – point d
Article 7 – paragraph 4 – point d
(d) identify projects that are inconsistent with the achievement of climate objectivesneutrality and other environmental objectives under the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle;
Amendment 164 #
Proposal for a regulation
Article 7 – paragraph 4 – point d a (new)
Article 7 – paragraph 4 – point d a (new)
(d a) assess projects against their contribution to the transition towards climate neutrality, based on science-based and timebound targets, including 2030 climate and energy targets.
Amendment 168 #
Proposal for a regulation
Article 7 – paragraph 6 – introductory part
Article 7 – paragraph 6 – introductory part
6. Implementing partners shall apply a target of at least 6100 % of the investment under the sustainable infrastructure policy window and at least 60 % under the strategic European investment window contributing to meeting the Union objectives on climate and environment and in line with the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle.
Amendment 170 #
Proposal for a regulation
Article 13 – paragraph 1 – point a a (new)
Article 13 – paragraph 1 – point a a (new)
(a a) comply with the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle;
Amendment 177 #
Proposal for a regulation
Article 21 – paragraph 3 – point a
Article 21 – paragraph 3 – point a
(a) a description of the proposed financing and investment operation, and how they adhered to the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle;
Amendment 178 #
Proposal for a regulation
Article 21 – paragraph 3 – point b
Article 21 – paragraph 3 – point b
(b) how the proposed operation contributes to EU policy objectives, in particular the transition to climate neutrality based on science-based and timebound targets, and the European Green Deal and other sustainability objectives;
Amendment 182 #
Proposal for a regulation
Article 21 – paragraph 3 – point f
Article 21 – paragraph 3 – point f
(f) the impact of the investment , including on the environment;
Amendment 184 #
Proposal for a regulation
Article 21 – paragraph 3 – point g a (new)
Article 21 – paragraph 3 – point g a (new)
(g a) sustainability indicators as established by Regulation (EU) 2019/2088;
Amendment 190 #
Proposal for a regulation
Article 24 – paragraph 2 – point e
Article 24 – paragraph 2 – point e
(e) facilitate the establishment of collaborative platforms for peer-to-peer exchanges and the sharing of data, knowhow and best practices to support project pipeline and sector development, and local level project nurseries bringing together innovators, project promoters and financers;
Amendment 191 #
Proposal for a regulation
Article 24 – paragraph 2 – point h
Article 24 – paragraph 2 – point h
(h) support capacity building actions to develop organisational capacities, skills and processes and to accelerate the investment readiness of organisations in order for public authorities and project promoters to build investment project pipelines, develop financing mechanisms and investment platforms and to manage projects and for financial intermediaries to implement financing and investment operations for the benefit of entities that face difficulties in obtaining access to finance, including through support for developing risk assessment capacity or sector specific knowledge; establish local and regional level project nurseries bringing together innovators, project promoters and financers, and helping the projects to become eligible for financing;
Amendment 192 #
Proposal for a regulation
Article 27 – paragraph 1
Article 27 – paragraph 1
1. ISustainability indicators for reporting on the alignment with the EU taxonomy screening criteria and on the progress of the InvestEU Programme towards the achievement of the general and specific objectives set out in Article 3 are set in Annex III, particularly climate neutrality, circular economy and other environmental objectives.
Amendment 193 #
Proposal for a regulation
Article 28 – paragraph 1 a (new)
Article 28 – paragraph 1 a (new)
1 a. Evaluations shall cover the environmental impact of a project or of an activity, based on harmonised sustainability indicators, Natural Capital Accounting, Life Cycle Analysis, and climate tracking and sustainability proofing.
Amendment 231 #
Proposal for a regulation
Annex V – part 2 – paragraph 1 – point 12 – introductory part
Annex V – part 2 – paragraph 1 – point 12 – introductory part
(12) Investments related to mining or to the extra, extraction, production, processing, distribution, storage, transport or combustion of solid fossil fuels and oil, as well as investments related to the extraction of gas. This exclusion does not apply to:
Amendment 233 #
Proposal for a regulation
Annex V – part 2 – paragraph 1 – point 12 – point a
Annex V – part 2 – paragraph 1 – point 12 – point a