47 Amendments of Pavel POC related to 2015/0148(COD)
Amendment 94 #
Proposal for a directive
Recital 3
Recital 3
(3) The European Council confirmed that a well-functioning, reformed EU ETS with an instrument to stabilise the market will be the main European instrument to achieve this target, with an annual reduction factor of 2.2% from 2021 onwards, free allocation not expiring but existing measures continuing temporarily after 2020 to prevent the risk of carbon leakage due to climate policy, as long as no comparable efforts are undertaken in other major economies, without reducing the share of allowances to be auctioned. The auction share should be expressed as a percentage figure in the legislation, to enhance planning certainty as regards investment decisions, to increase transparency and to render the overall system simpler and more easily understandable. However, in order to reflect the Paris Agreement, it is essential that the Union, as part of the international community, increases its efforts and commitment with a view to limiting the increase in the global average temperature to well below 2°C above pre- industrial levels as well as to pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels, and therefore the annual reduction factor in the Phase IV of the EU ETS should increase to at least 2.4% by 2021.
Amendment 98 #
Proposal for a directive
Recital 3 a (new)
Recital 3 a (new)
(3a) The Union has both the responsibility and capability to act in a vigorous and cost-effective manner to mitigate climate change and honour the Paris Agreement to limit the increase in the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels. The environmental and socio- economic benefits for the Union to increase its efforts to mitigate climate change by far outweigh the costs which will inevitably incur for the Union if it fails to take sufficient action.
Amendment 114 #
Proposal for a directive
Recital 5
Recital 5
(5) Article 191(2) of the Treaty on the Functioning of the European Union requires that Union policy is based on the principle that the polluter should pay and, on this basis, Directive 2003/87/EC provides for a transition to full auctioning over time. Avoiding carbon leakage is a justification to temporarily postpone full transition, and precisely targeted free allocation of allowances to industry is a justified exception from the principle that the polluter should pay only as long as no over-allocation occurs, in order to address genuine risks of increases in greenhouse gas emissions in third countries where industry is not subject to comparable carbon constraints as long as comparable climate policy measures are not undertaken by other major economies.
Amendment 120 #
Proposal for a directive
Recital 6
Recital 6
(6) The auctioning of allowances remains the general rule, with free allocation as the temporary exception. Consequently, and as confirmed by the European Council, the share of allowances to be auctioned, which was 57% over the period 2013-2020, should not be reduced and should increase to 100% over time. The Commission's Impact Assessment18 provides details on the auction share and specifies that this 57% share is made up of allowances auctioned on behalf of Member States, including allowances set aside for new entrants but not allocated, allowances for modernising electricity generation in some Member States and allowances which are to be auctioned at a later point in time because of their placement in the Market Stability Reserve established by Decision (EU) 2015/…1814 of the European Parliament and of the Council19 . __________________ 18 SECWD(2015)XX135 19 Decision (EU) 2015/…1814 of the European Parliament and of the Council of …6 October 2015 concerning the establishment and operation of a market stability reserve for the Union greenhouse gas emission trading scheme and amending Directive 2003/87/EC (OJ L […], […], p. […]). 264, 9.10.2015, p. 1).
Amendment 124 #
Proposal for a directive
Recital 7
Recital 7
(7) To preserve the environmental benefit of emission reductions in the Union while actions by other countries do not provide comparable incentives to industry to reduce emissions, free allocation should continuetemporarily continue in a precise and targeted manner to installations in sectors and sub- sectors at genuine risk of carbon leakage. Experience gathered during the operation of the EU ETS confirmed that sectors and sub-sectors are at risk of carbon leakage to varying degrees, and that free allocation has prevented carbon leakage. While some sectors and sub-sectors can be deemed at a higher risk of carbon leakage, others are able to pass on a considerable share of the costs of allowances to cover their emissions in product prices without losing market share and only bear the remaining part of the costs so that they are at a low risk of carbon leakage. The Commission should determine and differentiate the relevant sectors based on their trade intensity and their emissions intensity to better identify sectors at a genuine risk of carbon leakage. Where, based on these criteria, a thresholds determined by taking into account the respective possibility for sectors and sub- sectors concerned to pass on costs in product prices is exceeded, the sector or sub-sector should be deemed at varying risks of carbon leakage. Others should be considered at a low risk or at no risk of carbon leakageThe varying degree to which sectors and sub-sectors are at risk of carbon leakage should be reflected in the amount of free allocation received. Sectors below the aforementioned threshold should be deemed at no risk of carbon leakage and therefore should not benefit from free allocation. Taking into account the possibilities for sectors and sub-sectors outside of electricity generation to pass on costs in product prices should also reduce windfall profits.
Amendment 137 #
Proposal for a directive
Recital 8 a (new)
Recital 8 a (new)
(8a) In order to make the EU ETS fit for the purpose of reducing emissions while stimulating low-carbon production and investments in phase IV, more stringent earmarking is necessary. Unless otherwise specified in this Directive, Member States should thus spend 100% of the auction revenues on climate actions listed in this Directive, and undertakings receiving allocations exceeding the actual size of their emissions should use these resources exclusively for investments in the decarbonisation of their production.
Amendment 153 #
Proposal for a directive
Recital 10
Recital 10
(10) The main long-term incentive from this Directive for the capture and storage of CO2 (CCS), new renewable energy technologiesnew renewable energy technologies, capture and storage of CO2 (CCS) and breakthrough innovation in low- carbon technologies and processes is the carbon price signal it creates and that allowances will not need to be surrendered for CO2 emissions which are permanently stored or avoided. In addition, to supplement the resources already being used to accelerate demonstration of commercial CCS facilities and innovative renewable energy technologies, EU ETS allowances should be used to provide guaranteed rewards for deployment of CCS facilities, new renewable energy technologies and industrial innovation in low-carbon technologies and processes in the Union for CO2 stored or avoided on a sufficient scale, provided an agreement on knowledge sharing is in place. The majority of this support should be dependent on verified avoidance of greenhouse gas emissions, while some support may be given when pre-determined milestones are reached taking into account the technology deployed. The maximum percentage of project costs to be supported may vary by category of project.
Amendment 157 #
Proposal for a directive
Recital 11
Recital 11
(11) A Modernisation Fund should be established from 2% of the total EU ETS allowances, and auctioned in accordance with the rules and modalities for auctions taking place on the Common Auction Platform set out in Regulation 1031/2010. Member States who in 2013 had a GDP per capita at market exchange rates of below 60% below the Union average should be eligible for funding from the Modernisation Fund and derogate up to 2030 from the principle of full auctioning for electricity generation by using the option of free allocation in order to transparently promote real investments modernising their energy sector in line with the Union 2030 and 2050 climate and energy goals, while avoiding distortions of the internal energy market. The rules for governing the Modernisation Fund should provide a coherent, comprehensive and transparent framework to ensure the most efficient implementation possible, taking into account the need for easy access by all participants. The function of the governance structure should be commensurate with the purpose of ensuring the appropriate use of the funds. That governance structure should be composed of an investment board and a management committee and due account should be taken of the expertise of the EIB in the decision-making process unless support is provided to small projects through loans from a national promotional banks or through grants via a national programme sharing the objectives of the Modernisation Fund. Investments financed from the fund should be proposed by the Member States and all financing from the fund should comply with specific eligibility criteria. To ensure that the investment needs in low income Member States are adequately addressed, the distribution of funds will take into account in equal shares verified emissions and GDP criteria. The financial assistance from the Modernisation Fund could be provided through different forms.
Amendment 168 #
Proposal for a directive
Recital 12
Recital 12
(12) The European Council confirmed that the modalities, including transparency, of the optional free allocation to modernise the energy sector in certain Member States should be improved. Investments with a value of €10 million or more should be selected by the Member State concerned through a competitive bidding process on the basis of clear and transparent rules to ensure that free allocation is used to promote real investments modernising the energy sector in line with the Energy Union objectives. The list of projects, both selected and non-selected projects, should be made available to the public. Investments with a value of less than €10 million should also be eligible for funding from the free allocation. The Member State concerned should select such investments based on clear and transparent criteria. The results of this selection process should be subject to public consultation. The public should be duly kept informed at the stage of the selection of investment projects as well as of their implementation.
Amendment 170 #
Proposal for a directive
Recital 12 a (new)
Recital 12 a (new)
(12a) To increase the environmental benefits of emissions reductions in the Union without causing undesired social effects, financial support should be given to regions and sectors which depend on carbon-intensive activities, so as to enable a just and fair transition to a Union low- carbon society. The impact of the energy transition on such regions and sectors should be better assessed and taken into account, especially considering the future of those workers who will be affected by the transition to a Union low-carbon society.
Amendment 172 #
Proposal for a directive
Recital 13 a (new)
Recital 13 a (new)
Amendment 178 #
Proposal for a directive
Article 1 – point -1 (new)
Article 1 – point -1 (new)
Directive 2003/87/EC
Article 2 – paragraph 1
Article 2 – paragraph 1
(-1) In Article 2, paragraph 1 is replaced by the following: '1. This Directive shall apply to emissions from the activities listed in Annex I and greenhouse gases listed in Annex II. Emissions from maritime transport shall be covered by the scope of this Directive as set out in Chapter IVa.'
Amendment 194 #
Proposal for a directive
Article 1 – point -1 j (new)
Article 1 – point -1 j (new)
Directive 2003/87/EC
Article 3 d – paragraph 2
Article 3 d – paragraph 2
(-1j) In Article 3d, paragraph 2 is replaced by the following: '2. From 1 January 2013, 15 21, 50% of allowances shall be auctioned. This percentage may be increased as part of the general review of this Directive.'
Amendment 198 #
Proposal for a directive
Article 1 – point 1 a (new)
Article 1 – point 1 a (new)
Directive 2003/87/EC
Article 3 d – paragraph 4 – subparagraph 1
Article 3 d – paragraph 4 – subparagraph 1
Amendment 209 #
Proposal for a directive
Article 1 – point 2 f (new)
Article 1 – point 2 f (new)
Directive 2003/87/EC
Article 6 – paragraph 2 – points e a and e b (new)
Article 6 – paragraph 2 – points e a and e b (new)
(2f) In Article 6 (2), the following points are added: '(ea) all legal requirements on social responsibility and reporting in order to ensure equal and effective implementation of environmental regulations and ensure that competent authorities and stakeholders, including workers' representatives, representatives of civil society and local communities, have access to all relevant information (as laid down in the Aarhus Convention and implemented in Union and national law, including Directive 2003/87/EC); (e b) an obligation to publish every year comprehensive information in respect of combating climate change and compliance with Union directives in the field of environment, health and safety at work; this information shall be accessible to workers' representatives and to the representatives of civil society from local communities in the vicinity of the installation.'
Amendment 210 #
Proposal for a directive
Article 1 – point 2 g (new)
Article 1 – point 2 g (new)
Directive 2003/87/EC
Article 7
Article 7
Amendment 217 #
Proposal for a directive
Article 1 – point 3
Article 1 – point 3
Directive 2003/87/EC
Article 9 – paragraphs 2 and 3
Article 9 – paragraphs 2 and 3
Starting in 2021, the linear factor shall be 2.24%.
Amendment 228 #
Proposal for a directive
Article 1 – point 4 – point -a
Article 1 – point 4 – point -a
Directive 2003/87/EC
Article 10 – paragraph 1
Article 10 – paragraph 1
(-a) Paragraph 1 is replaced by the following: '1. From 2019 onwards, Member States shall auctioneither auction or cancel all allowances that are not allocated free of charge in accordance with Articles 10a and 10c and are not placed in the market stability reserve established by Decision (EU) 2015/1814 of the European Parliament and of the Council1.'
Amendment 238 #
Proposal for a directive
Article 1 – point 4 – point a
Article 1 – point 4 – point a
Directive 2003/87/EC
Article 10 – paragraph 1 – subparagraph 2
Article 10 – paragraph 1 – subparagraph 2
From 2021 onwards, the share of allowances to be auctioned by Member States shall benot decline under 57%.
Amendment 258 #
Proposal for a directive
Article 1 – point 4 – point a a (new)
Article 1 – point 4 – point a a (new)
Directive 2003/87/EC
Article 10 – paragraph 1 – subparagraph 4 a (new)
Article 10 – paragraph 1 – subparagraph 4 a (new)
(aa) the following subparagraph is added to paragraph 1: 'In each year beginning in 2023, a number of allowances equal to emissions saved by the electricity production from subsidized renewable energy sources commissioned after 2020 and by energy efficiency measures taking effect after 2020 in year x-2, shall be deducted from the volume of allowances auctioned by Member States under Article 10(2) and shall be placed in the MSR. The Commission shall calculate emissions saved by the electricity production from renewable energy sources and by energy efficiency measures using data reported by Member States and publish them by 30 September each year.'
Amendment 259 #
Proposal for a directive
Article 1 – point 4 – point b – point ii
Article 1 – point 4 – point b – point ii
Directive 2003/87/EC
Article 10 – paragraph 2 – point b
Article 10 – paragraph 2 – point b
'(b) 10% of the total quantity of allowances to be auctioned being distributed amongst certain Member States for the purpose of solidarity and grset aside for the creation of a Just Transition Fund as a complement to the European Regional Development Fund and the European Social Fund. The revenues of these auctions shall remain at the Union level, with the goal to use them for cushioning the social impact of the climate policies required in order to enable the necessary transition to a low- carbon society in regions which combine a high share of workers in carbon- dependent sectors and a GDP per capita well below th within the Community, thereby increasing the amount of allowances that those Member States auce Union-average. These auctioning revenues aimed at just transition shall be used in one or several of the following ways, while fully complying with the fundamental rights of non-discrimination and gender-equality: - creating redeployments and/or mobility cells; - education/training initiatives to re- skill or upskill workers; - support in job search, including paid time-off to search for jobs; - social protection measures; - subsistence allowances; - business creation; and - monitoring and pre-emptive measures to avoid or minimise the negative impact of restructuring process on physical and mental health. The core activities to be financed by the Just Transition Funder point (a) by the percentages specified in Annex IIa."; and' are strongly related to the labour market and therefore social partners shall be actively involved in the fund management – on the model of the ESF committee – and the participation of local social partners shall be a key requirement for projects to receive funding.'
Amendment 264 #
Proposal for a directive
Article 1 – point 4 – point b b (new)
Article 1 – point 4 – point b b (new)
Amendment 270 #
Proposal for a directive
Article 1 – point 4 – point b c (new)
Article 1 – point 4 – point b c (new)
Directive 2003/87/EC
Article 10 – paragraph 3 – point b
Article 10 – paragraph 3 – point b
(bc) In paragraph 3, point (b) is replaced by the following: '(b) to develop renewable energies to meet the commitengagements of the Community to using 2using at least 30 % renewable energies by 20230, as well as to develop other technologies contributing to the transition to a safe and sustainable low-carbon economy and to help meet the commitment of the Communityengagements to increase energy efficiency by 2at least 40 % by 20230;'
Amendment 276 #
Proposal for a directive
Article 1 – point 4 – point c
Article 1 – point 4 – point c
Directive 2003/87/EC
Article 10 – paragraph 3 – point j
Article 10 – paragraph 3 – point j
Amendment 290 #
Proposal for a directive
Article 1 – point 4 – point d a (new)
Article 1 – point 4 – point d a (new)
Directive 2003/87/EC
Article 10 – paragraph 4 – subparagraph 4 a (new)
Article 10 – paragraph 4 – subparagraph 4 a (new)
(da) In paragraph 4, the following subparagraph is added: 'If Member States decide on national measures for early closure of electricity generation capacity, Member States shall report this to the Commission and other Member States, and may retire a share of the auctioning volume with a level equal to the related emissions.'
Amendment 294 #
Proposal for a directive
Article 1 – point 4 – point d c (new)
Article 1 – point 4 – point d c (new)
Directive 2003/87/EC
Article 10 – paragraph 5
Article 10 – paragraph 5
(dc) paragraph 5 is replaced by the following: '5. The Commission shall monitor the functioning of the European carbon market. Each year, it shall submit a report to the European Parliament and to the Council on the functioning of the carbon market including the implementation of the auctions, liquidity and the volumes traded. The report shall address the interaction of the EU ETS and other climate-energy policies at the Union and national levels, and shall transparently analyse the implications of various policies on the level of demand for EU ETS allowances and its consequences on the supply- demand balance in the carbon market as well as the compliance with the Union's 2030 and 2050 climate and energy goals. If necessary, Member States shall ensure that any relevant information is submitted to the Commission at least two months before the Commission adopts the report.'
Amendment 300 #
Proposal for a directive
Article 1 – point 4 – point d e (new)
Article 1 – point 4 – point d e (new)
Directive 2003/87/EC
Article 10 – paragraph 5 b (new)
Article 10 – paragraph 5 b (new)
(de) the following paragraph is added: '5b The Commission shall publish every two years a report on the pass- through of the costs of allowances in the product prices. This shall be done for the sectors and subsectors for which the Commission finds that there are good reasons to assess whether a non- negligible share of pass-through is possible, also in relation to the evolution of their market shares.'
Amendment 302 #
Proposal for a directive
Article 1 – point 5 – point a
Article 1 – point 5 – point a
Directive 2003/87/EC
Article 10a – paragraph 1 – subparagraph 2
Article 10a – paragraph 1 – subparagraph 2
The Commission ishall be empowered to adopt a delegated act in accordance with Article 23 to supplement this directive. This act shall also provide for additional allocation from the new entrants reserve for significant production increases by applying the same thresholds and allocation adjustments as apply in respect of partial cessations of operationchanges. Any 10% increase or decrease in production expressed as a rolling average of verified production data for the two preceding years compared to the production activity reported in accordance with Article 11 shall be adjusted with a corresponding amount of allowances by placing allowances into and releasing allowances from the reserve referred to in paragraph 7.
Amendment 337 #
Proposal for a directive
Article 1 – point 5 – point b
Article 1 – point 5 – point b
Directive 2003/87/EC
Article 10a – paragraph 2 – subparagraph 3 – point i
Article 10a – paragraph 2 – subparagraph 3 – point i
(i) On the basis of informationverified production, emissions and other necessary data submitted pursuant to Article 11, the Commission shall identify whether the values for each benchmark calculated using the principles in Article 10a differ from the annual reduction referred to above by more than 0.5% of the 2007-8 value higher or lower annually. If so, that benchmark value shall be adjusted either 0.5% or 1.5% in respect of each year between 2008 and the middle of the period for which free allocation is to be made;. For sectors with unavoidable process emissions and where the real production and efficiency data submitted pursuant to Article 11 show annual reductions below 0,25% in respect of each year between 2008 and the middle of the period for which free allocation is to be made, the benchmark value shall be adjusted by 0,25%. Correspondingly, for sectors where the real production and efficiency data submitted pursuant to Article 11 show annual reductions above 1,5% in respect of each year between 2008 and the middle of the period for which free allocation is to be made, the benchmark value shall be adjusted by 1,75%.
Amendment 408 #
Proposal for a directive
Article 1 – point 5 – point e a (new)
Article 1 – point 5 – point e a (new)
Directive 2003/87/EC
Article 10a – paragraph 7 a (new)
Article 10a – paragraph 7 a (new)
(ea) the following paragraph is inserted after paragraph 7: '7a. In the event that installations in the sectors and sub-sectors concerned by paragraph 1 of Article 10b are entitled to an amount of free allowances which exceeds their actual production, these excess allowances shall be exclusively dedicated to low carbon investment in the installations belonging to the same sector or sub-sector during the whole fourth trading period, in accordance with points b, e, g and l of article 10(3), as well as with the rules for public investments financed by free allocations in paragraphs 2 and 3 of article 10c ; the assets coming from the free allocations' monetisation during the fourth trading period have to be paid or engaged for low carbon investments at the latest 31 December 2030. A balance shall be made two times during the fourth trading period, in 2025 and 2030, with a possibility of sanctions under Article 16.'
Amendment 412 #
Proposal for a directive
Article 1 – point 5 – point f
Article 1 – point 5 – point f
Directive 2003/87/EC
Article 10a – paragraph 8 – subparagraph 1
Article 10a – paragraph 8 – subparagraph 1
Amendment 435 #
Proposal for a directive
Article 1 – point 5 – point f
Article 1 – point 5 – point f
Directive 2003/87/EC
Article 10a – paragraph 8 – subparagraph 2
Article 10a – paragraph 8 – subparagraph 2
The allowances shall be made available for innovation in low-carbon industrial technologies and processes and support for demonstration projects for the development of a wide range of CCS and innovative renewable energy technologies and CCS that are not yet commercially viable in geographically balanced locations. In order to promote innovative projects, up to 60% of the relevant costs of projects may be supported, out of which up to 40% may not be dependent on verified avoidance of greenhouse gas emissions provided that pre-determined milestones are attained taking into account the technology deployed.
Amendment 443 #
Proposal for a directive
Article 1 – point 5 – point f
Article 1 – point 5 – point f
Directive 2003/87/EC
Article 10a – paragraph 8 – subparagraph 4
Article 10a – paragraph 8 – subparagraph 4
The Commission ishall be empowered to adopt a delegated act in accordance with Article 23. to supplement this directive, taking due account of the following principles: - Projects shall focus on research and innovation for the design and development of breakthrough solutions and implementation of demonstration programmes, including in real industrial environments; - Projects shall deliver ambitious reductions in specific greenhouse gas emission intensity of at least 20%, with respect to the best available technologies; - The activities shall run close-to- market in production plants to demonstrate the viability of breakthrough technologies in overcoming the technological as well as non- technological barriers; - Projects shall address technological solutions that can have widespread applications and may combine different technologies; - Solutions and technologies shall ideally have the potential to be transferred within the sector and possibly to other sectors.
Amendment 463 #
Proposal for a directive
Article 1 – point 6
Article 1 – point 6
Directive 2003/87/EC
Article 10b – paragraph 2
Article 10b – paragraph 2
Amendment 492 #
Proposal for a directive
Article 1 – point 6
Article 1 – point 6
Directive 2003/87/EC
Article 10b – paragraph 3
Article 10b – paragraph 3
3. Other sectors and sub-sectors are considered to be able to pass on more of the cost of allowances in product prices, and shall not be allocated allowances free of charge for the period up to 2030 at 30% of the quantity determined in accordance with the measures adopted pursuant to Article 10a.
Amendment 508 #
Proposal for a directive
Article 1 – point 6
Article 1 – point 6
Directive 2003/87/EC
Article 10b – paragraph 4 a (new)
Article 10b – paragraph 4 a (new)
4a. Free allocations distributed to the industrial sectors concerned by paragraph 1 and 2 constitute a temporary adaptation measure for the modernisation of the Union energy intensive industries until 2030. After Phase IV, all allocations shall be auctioned.
Amendment 519 #
Proposal for a directive
Article 1 – point 6
Article 1 – point 6
Directive 2003/87/EC
Article 10c – paragraph 1
Article 10c – paragraph 1
1. By derogation from Article 10a(1) to (5), Member States which had in 2013 a GDP per capita in €EUR at market prices below 60% of the Union average may give a transitional free allocation to installations for electricity productiongenerators for the modernisation and diversification of the energy sector. This derogation shall end after 2030.
Amendment 543 #
Proposal for a directive
Article 1 – point 6
Article 1 – point 6
Directive 2003/87/EC
Article 10c – paragraph 2 – subparagraph 1– point b
Article 10c – paragraph 2 – subparagraph 1– point b
(b) ensure that only projects which contribute to the diversification of their energy mix and sources of supply, the necessary restructuring, environmental upgrading and retrofitting of the infrastructure, clean technologies and modernisation of the energy production, including district heating, transmission and distribution sectors are eligible to bid;
Amendment 550 #
Proposal for a directive
Article 1 – point 6
Article 1 – point 6
Directive 2003/87/EC
Article 10c – paragraph 2 – subparagraph 1 – point c – point i
Article 10c – paragraph 2 – subparagraph 1 – point c – point i
(i) on the basis of a cost-benefit analysis, ensure a net positive gain in terms of emission reduction and realise a pre- determined significant level of CO2 reductions, while fully complying with Annexes I and II of the European Investment Bank Climate Strategy;
Amendment 612 #
Proposal for a directive
Article 1 – point 7
Article 1 – point 7
Directive 2003/87/EC
Article 10d – paragraph 3 a (new)
Article 10d – paragraph 3 a (new)
3a. Any beneficiary Member State which has decided to grant transitional free allocation pursuant to Article 10c may transfer those allowances to its share of the Modernisation Fund set out in Annex IIb and allocate them pursuant to the provisions of Article 10d.
Amendment 623 #
Proposal for a directive
Article 1 – point 7
Article 1 – point 7
Directive 2003/87/EC
Article 10d – paragraph 4 – subparagraph 1
Article 10d – paragraph 4 – subparagraph 1
The fund shall be governed by an investment board and a management committee, which shall be composed of representatives from the beneficiary Member States, the Commission, the EIB and three representatives elected by the other Member States for a period of 5 yearsand the EIB. The investment board shall be responsible to determine a Union-level investment policy, appropriate financing instruments and investment selection criteria, which shall take into account national circumstances. The management committee shall be responsible for the day-to-day management of the fund.
Amendment 642 #
Proposal for a directive
Article 1 – point 7
Article 1 – point 7
Directive 2003/87/EC
Article 10d – paragraph 4 – subparagraph 4
Article 10d – paragraph 4 – subparagraph 4
If the EIB recommends not financing an investment and provides reasons for this recommendation, a decision shall only be adopted if a majority of two-thirds of all members vote in favour. The Member State in which the investment will take place and the EIB shall not be entitled to cast a vote in this case. For small projects funded through loans provided by a national promotional bank or through grants contributing to the implementation of a national programme serving specific objectives in line with the objectives of the Modernisation Fund, provided that not more than 150% of the Member States' share set out in Annex IIb is used under the programme, the two preceding sentences shall not apply.
Amendment 674 #
Proposal for a directive
Article 1 – point 11
Article 1 – point 11
Directive 2003/87/EC
Article 13
Article 13
Allowances issued from 1 January 2013 onwards shall be valid indefinitely. Allowances issued from 1 January 2021 onwards shall include an indication showing in which ten-year period beginning from 1 January 2021 they were issued, and be valid for emissions from the first year of that period onwards. Any allowances stored in the MSR shall cease to be valid after the end of the trading period in which they entered the reserve.
Amendment 690 #
Proposal for a directive
Article 1 – point 22 a (new)
Article 1 – point 22 a (new)
Directive 2003/87/EC
Article -25 a (new)
Article -25 a (new)
(22a) The following Article is inserted: 'Article -25a Use of approved credits from third countries which have ratified the international agreement on climate change Following the increase in the level of ambition in the EU ETS in accordance with Article 28(2), the Commission shall, where appropriate, submit a proposal, to the European Parliament and Council, to consider the conduct of "cooperative approaches" that will enable mitigation outcomes be "internationally transferred" and "used" against nationally determined contributions, provided they do not threaten the demand-supply balance of ETS scheme.'
Amendment 696 #
Proposal for a directive
Article 1 – point 22
Article 1 – point 22
Directive 2003/87/EC
Article 25a – paragraph 1 – subparagraph 2
Article 25a – paragraph 1 – subparagraph 2
Where necessary, the Commission may adopt amendmentssubmit a legislative proposal to the European Parliament and Council to provide for flights arriving from the third country concerned to be excluded from the aviation activities listed in Annex I or to provide for any other amendments to the aviation activities listed in Annex I which are required by an agreement pursuant to the fourth subparagraph. The Commission shall be empowered to adopt such amendments in accordance with Article 23.
Amendment 709 #
Proposal for a directive
Article 1 – point 22 e (new)
Article 1 – point 22 e (new)
Directive 2003/87/EC
Article 29
Article 29
(22e) Article 29 is amended as follows: 'Report to ensure the better functioning of the carbon market If, on the basis of the regular reports on the carbon market referred to in Article 10(5), the Commission has evidence that the carbon market is not functioning properly, it shall submit a report to the European Parliament and to the Council. The report shall include a section dedicated to the interaction between the EU ETS and other Union and national policies, as regards the volumes of emission reductions and the cost-effectiveness of such policies. The report may be accompanied, if appropriate, by proposals aiming at increasing transparency of the carbon market, and addressing measures to improve its functioning and capacity to contribute to reaching the Union's 2030 and 2050 climate and energy goals.'
Amendment 716 #
Proposal for a directive
Article 1 – point 22 g (new)
Article 1 – point 22 g (new)
Directive 2003/87/EC
Chapter IV a (new)
Chapter IV a (new)