Activities of Liisa JAAKONSAARI related to 2013/0152(COD)
Shadow opinions (1)
OPINION on the proposal for a decision of the European Parliament and of the Council on granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union
Amendments (26)
Amendment 29 #
Proposal for a decision
Recital 1
Recital 1
(1) In addition to its core mission of financing investment in the Union, the European Investment Bank (EIB) undertakes financing operations outside the Union in support of the Union's external policies. This allows the budget funds of the Union available to the external regions to be complemented by the financial strength of the EIB for the benefit of the targeted third countries. In undertaking such financing operations, the EIB contributes to, supports and complements the external actions of the EU by paying full respect to the general principles and policy objectives of the Union as stated in Article 21 TEU.
Amendment 30 #
Proposal for a decision
Recital 3
Recital 3
(3) With a view to supporting Union external action, and in order to enable the EIB to finance investments outside the Union without affecting the credit standing of the EIB, the majority of its operations outside the Union have benefited from an EU budgetary guarantee (‘EU guarantee’) administered by the Commission. It is of high importance that the EIB maintains its triple-A rating.
Amendment 31 #
Proposal for a decision
Recital 7
Recital 7
(7) In order to reflect significant policy developments, the list of countries actually eligible for EIB financing operations under the EU guarantee should be reviewed as appropriate and the power to adopt acts in accordance with Article 290 TFEU should be delegated to the Commission in respect of amendments to Annex III to this Decision. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level. The Commission, when preparing and drawing-up delegated acts, should ensure a simultaneous, timely and appropriate transmission of all relevant documents to the European Parliament and Council.
Amendment 33 #
Proposal for a decision
Recital 13
Recital 13
(13) The EIB should continue to finance investment projects in the areas of social, environmental and, economic and transport infrastructure, and should consider increasing its activity in support of health and education infrastructure when there is clear added value in doing so.
Amendment 35 #
Proposal for a decision
Recital 14
Recital 14
(14) The EIB should also continue toincrease its financeing of investment projects in support of climate change mitigation and adaptation, in particular in the Arctic region, to further the promotion of the Union's climate goals on a global scale.
Amendment 38 #
Proposal for a decision
Recital 16
Recital 16
(16) The practical measures for linking the general objectives of the EU guarantee and their implementation are to be set out in regional technical operational guidelines. Such guidelines should be consistent with the wider Union regional policy framework. The regional technical operational guidelines should be reviewed and further updated following the review of this Decision in order to adapt toreflect the developments in the Union external policies and its priorities.
Amendment 39 #
Proposal for a decision
Recital 18
Recital 18
(18) While the EIB's strength remains its distinctiveness as an investment bank, EIB financing operations should contribute to the general principles guiding Union external action, as referred to in Article 21 of the Treaty on European Union (TEU), of promoting and consolidating democracy and the rule of law, human rights and fundamental freedoms, and to the implementation of international environmental agreements to which the Union is a partycommitments and agreements to which the Union is a party, including environmental agreements. Therefore, countries' records regarding human rights, fundamental freedoms, press and media freedom and democracy should be taken into account and carefully considered for the eligibility of regions and countries in Annex III. In particular, in relation to developing countries, EIB financing operations should foster their sustainable economic, social and environmental development, particularly in the most disadvantaged amongst them, their smooth and gradual integration into the world economy, the campaign against poverty, as well as compliance with objectives approved by the Union in the context of the United Nations and other competerelevant international organisations. While contributing to the implementation of the measures necessary to further the objectives of Union development cooperation policy in accordance with Article 209(3) of the Treaty, the EIB should strive to support indirectly the achievement of the UN's 2015 Millennium Development Goals in all regions where it is active.
Amendment 41 #
Proposal for a decision
Recital 19
Recital 19
(19) The EIB activity under this Decision should support the Agenda for Change proposed by the Commission and be coherent with the relevant principles of the European Consensus on Development and the principles of aid effectiveness outlined in the Paris Declaration of 2005, the Accra Agenda for Action of 2008 and the Busan Partnership Agreement of 2011. Furthermore, it should be coherent with the EU Strategic Framework and Action Plan on Human Rights and Democracy adopted by the Council on 25 June 2012 and international environmental agreements including biodiversity commitments. It should be implemented through a number of concrete measures, in particular by reinforcing the EIB's capacity to appraise environmental, social and, development and economic aspects of investment projects, including human rightexplicitly human rights, fundamental freedoms and conflict-related risks, and by promoting local consultation with public authorities and civil society. In this context, the EIB should implement and further develop its Results Measurement framework (REM) which provides a detailed set of performance indicators measuring the economic, environmental, social, and development impact of its financing operations throughout the lifecycle of the underlying investment. The implementation of the REM should be evaluated as part of the mid-term review of this Decision. When carrying out due diligence in respect of an investment project, the EIB should, where appropriate and in line with the Union's human rights, social and environmental principles, require the investment project promoter to carry out local consultations with all stakeholders concerned and disclose their results to the public. EIB financing agreements involving public counterparts should explicitly include the possibility to suspend disbursements in case of revocation of eligibility under this Decision of the country in which the investment project takes place.
Amendment 44 #
Proposal for a decision
Recital 20
Recital 20
(20) At all levels, from upstream strategic planning to downstream investment project development, it should be ensured that EIB financing operations comply with and support Union external policies and the general objectives set out in this Decision. With a view to increasing the coherence of Union external action, dialogue on policy and strategy should be further strengthened between the Commission and the EIB, including the European External Action Service (EEAS), while keeping the European Parliament duly informed. The Memorandum of Understanding to be revised in 2013 to enhance cooperation and early mutual exchange of information between the Commission and the EIB at operational level should continue to be applied. It is of particular importance to have an early exchange of views between the Commission and the EIB, including the EEAS, as appropriate, in the process of preparing programming documents in order to maximise synergies between their activities. The cooperation in relation to the respect of human rights, fundamental freedoms and conflict prevention issues should also be reinforced. Locating the EIB field offices in EU delegations would improve this cooperation and reduces operating costs.
Amendment 47 #
Proposal for a decision
Article 1 – paragraph 5
Article 1 – paragraph 5
5. If, on expiry of the period referred to in paragraph 4, the European Parliament and the Council have not adopted a decision granting a new EU guarantee to the EIB against losses under its financing operations outside the Union, that period shall be automatically extended by six months. The Commission shall present its proposal for a decision for a new guarantee no less than 18 months in advance of the expiry of this guarantee.
Amendment 49 #
Proposal for a decision
Article 3 – paragraph 1 – point b
Article 3 – paragraph 1 – point b
(b) development of social, environmental and, economic and transport infrastructure;
Amendment 50 #
Proposal for a decision
Article 3 – paragraph 2
Article 3 – paragraph 2
2. EIB financing operations carried out under this Decision shall always support and contribute to the general principles guiding Union external action, as referred to in Article 21 TEU and shall contribute to the implementation of international commitments and agreements including environmental agreements to which the Union is a party.
Amendment 51 #
Proposal for a decision
Article 3 – paragraph 3
Article 3 – paragraph 3
3. Regional integration among countries, including in particular economic integration between Pre-accession countries, Neighbourhood countries and the Union, shall be an underlying objective for EIB financing operations within areas covered by the general objectives as defined in paragraph 1.
Amendment 52 #
Proposal for a decision
Article 3 – paragraph 4
Article 3 – paragraph 4
4. In developing countries, as defined in the Organisation for Economic Cooperation and Development (OECD) list of official development assistance (ODA) recipients, EIB financing operations shall contribute indirectly to the objectives of the Union policy in development cooperation as referred to in Article 208 TFEU.
Amendment 55 #
Proposal for a decision
Article 3 – paragraph 6
Article 3 – paragraph 6
6. EIB financing operations supporting the objectives provided for in paragraph 1(b) shall support investment projects in the areas of transport, energy, including renewable energy, energy systems transformation enabling a switch to lower carbon intensive technologies and fuels, sustainable energy security and energy infrastructure, including for gas production and transportation to EU energy market, sustainable environmental infrastructure, including water and sanitation and green infrastructure, information and communication technology, including telecommunications and broadband network infrastructure, health and education. Priority consideration should be given to infrastructure projects connecting the Union and third countries which provide mutual economic, development, social and environmental benefits.
Amendment 57 #
Proposal for a decision
Article 3 – paragraph 7
Article 3 – paragraph 7
7. EIB financing operations supporting the objectives provided for in paragraph 1(c) shall support investment projects in climate change mitigation and adaptation which contribute to the overall objective of the United Nations Framework Convention on Climate Change, in particular by avoiding or reducing greenhouse gas emissions in the areas of renewable energy, energy efficiency and sustainable transport, or by increasing resilience to the adverse impacts of climate change on highly fragile natural environments, vulnerable countries, sectors and communities - as faced in the Arctic region, for example. Over the period covered by the Decision, the volume of these operations shall represent at least 2540% of total EIB financing operations.
Amendment 60 #
Proposal for a decision
Article 4 – paragraph 2
Article 4 – paragraph 2
2. The Commission shall be empowered to adopt delegated acts in accordance with Article 17 concerning amendments to Annex III. The Commission's decisions shall be based on an overall economic and political assessment, includingwith significant consideration given in particular to aspects related to the democracy, human rights and fundamental freedoms as well as to the relevant European Parliament resolutions and Council decisions and conclusions.
Amendment 62 #
Proposal for a decision
Article 4 – paragraph 5
Article 4 – paragraph 5
5. The EU guarantee shall cover only EIB financing operations carried out in eligible countries that have concluded a framework agreement with the EIB establishing the legal conditions including human rights, fundamental freedoms, social, labour and environmental standards under which such operations are to be carried out.
Amendment 64 #
Proposal for a decision
Article 5 – paragraph 1 – subparagraph 1
Article 5 – paragraph 1 – subparagraph 1
The Commission shall update, together with the EIB, the existing regional technical operational guidelines for EIB financing operations within one year following the adoption of this Decision. Further updates could be considered on a regular annual basis in order to take into account the developments in the countries of operation.
Amendment 65 #
Proposal for a decision
Article 5 – paragraph 1 – subparagraph 3
Article 5 – paragraph 1 – subparagraph 3
In updating these guidelines, the Commission and the EIB shall take into account relevant European Parliament resolutions and Council decisions and conclusions. The EEAS shall also be consulted on policy issues, as appropriate. and shall engage with the relevant committees of the EP. The EEAS shall also be consulted on policy issues. At the regional level, there should be consultations with the local civil society.
Amendment 68 #
Proposal for a decision
Article 8 – paragraph 5
Article 8 – paragraph 5
5. The Commission and the EIB shall set out in the agreement referred to in Article 13 a clear and transparent method allowing the EIB to identify, within its external activity, the operations to be financed under this Decision and the operations to be financed at the own risk of the EIB. The method shall be based on the creditworthiness of EIB financing operations as assessed by the EIB, the regions and ceilings as defined in Annex I, the nature of the counterparty (whether a sovereign/State, a sub-sovereign as referred to in paragraph 1 or private), EIB risk absorption capacity and other relevant criteria, including added value of the EU Guarantee.
Amendment 70 #
Proposal for a decision
Article 9 – paragraph 1 – subparagraph 1
Article 9 – paragraph 1 – subparagraph 1
The EIB shall carry out thorough due diligence and, where appropriate and in line with Union social and environmental principles, require appropriate local public consultation, on with all stakeholders concerned, on social, human rights, environmental and economic development-related aspects of investment projects covered by the EU guarantee.
Amendment 71 #
Proposal for a decision
Article 9 – paragraph 1 – subparagraph 3
Article 9 – paragraph 1 – subparagraph 3
The EIB's own rules and procedures shall include the necessary provisions on assessment of environmental and social impact of investment projects and of aspects related to human rights and conflict preven, fundamental freedoms and conflict prevention in line with the principles of the Union and its relevant legislation, to ensure that only investment projects that are economically, financially, environmentally and socially sustainable are supported under this Decision.
Amendment 76 #
Proposal for a decision
Article 11 – paragraph 1 – introductory part
Article 11 – paragraph 1 – introductory part
1. In accordance with EU legislation on access to documents and information and with its own transparency policy, the EIB shall make publicly available on its website information relating to:
Amendment 78 #
Proposal for a decision
Article 11 – paragraph 1 – point b
Article 11 – paragraph 1 – point b
(b) unless confidentiality requirements apply, any memoranda of understanding between the EIB and other European Financial Institutions or International Financial Institutions having a bearing on EIB financing operations under this Decision.
Amendment 80 #
Proposal for a decision
Article 11 – paragraph 1 – point b a (new)
Article 11 – paragraph 1 – point b a (new)