Activities of Evelyn REGNER related to 2020/2058(INI)
Legal basis opinions (0)
Amendments (56)
Amendment 20 #
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas all sectors of the EU economy will be impacted by the transition towards a sustainable economy,
Amendment 22 #
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas the path to climate neutrality by 2050, with a first milestone of 50 to 55% by 2030 emission reductions compared to 1990, will boost the competitiveness of the Union economy and result in a surplus of sustainable, high quality jobs,
Amendment 26 #
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas the EU climate law will set in stone the EU’s commitment to climate neutrality by 2050, including ambitious intermediary steps necessary to achieve this objective,
Amendment 27 #
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas the Commission has estimated the investment needs at EU level in order to achieve the current 2030 climate objectives at 240 bn EUR/year1a plus additional amounts of 130 bn EUR/year for environmental objectives , 192 bn EUR/year for social infrastructure and 100bnEUR/year for Europe’s wider transport infrastructure, whereas it is essential to mobilize all available funds to close the investment gap, __________________ 1a https://ec.europa.eu/info/sites/info/files/ec onomy- finance/assessment_of_economic_and_in vestment_needs.pdf
Amendment 29 #
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas the European Green Deal is a growth strategy and should lead to sustainable and inclusive economic growth, job creation and ensure the strategic autonomy of the EU,
Amendment 31 #
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas public and private finance should adhere to the EU Taxonomy and to the Do Not Significantly Harm principle so that EU financial instruments, including the EU budget, including facilities financed through Next Generation EU, the EU Semester, the EU Investment Plan, the EIB, ECB and EU funding sources such as cohesion funds and structural and investment funds, should not go to objects, projects and activities that do significantly harm to social or environmental objectives,
Amendment 32 #
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas the Covid-19 sanitary crisis underlines the importance of investments in a socially and environmentally sustainable economy, in particular investments promoting cutting edge R&D, competitive industry, deepening and strengthening of the single market, strong SMEs, healthcare, a strong welfare system and social wellbeing,
Amendment 33 #
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas the spending required to support European economies raise the question of how incurred debt will be repaid; whereas it is important to prevent the increase in inequalities suffered following the previous crisis, where the burden on citizens was increased to bail out banks,
Amendment 34 #
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas creating a sustainable economic system is central to developing long-term strategic autonomy of the European Union and to increase the EU’s resilience,
Amendment 35 #
Motion for a resolution
Recital -A (new)
Recital -A (new)
Amendment 36 #
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas tax exemptions for the aviation and maritime sectors may also distort competition between industrial sectors and may promote inefficient and polluting modes of transport,
Amendment 50 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the Sustainable Europe Investment Plan (SEIP) as central in ensuring the success of the Green Deal and the transition towards a more sustainable and resilient economy; stresses that the plan should be at the heart of a coordinated and inclusive Union response to building a more resilient economy and society after the Covid-19 crisis;
Amendment 65 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the Commission’s European Recovery Plan with the European Green Deal at its heart; endorses the underlying principle that public investments will respect the oath to ‘do no harm’; highlights that this oath applies to both social and environmental objectives; emphasises that national recovery and resilience plans should put the EU on the path to a 50 % to 55 % reduction in greenhouse gas emissions by 2030 compared to 1990 and climate neutrality by 2050 while providing sufficient guarantees to ensure social equity in the sustainable transition;
Amendment 112 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Questions whether the SEIP, as currently constituted, will enable the mobilisation of EUR 1 trillion by 2030, given the negative economic outlook following the COVID-19 crisis; requests the Commission to ensure full transparency on financing issues, such as the optimistic leverage effect or the lack of clarity over the extrapolations of certain amounts; furthermore questions how the new MFF as proposed by the Commission in its revised proposals of 27 and 28 May 2020 would enable the achievement of the SEIP targets; regrets that the SEIP alone will not be sufficient to finance the objectives of the Green Deal and that additional investments will have a decisive role in the success of the Green Deal; calls on the Commission and EU Member States to come forward with plans that explain how they will bridge the considerable investment gap with both private and public investments;
Amendment 123 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Calls for the issuing of long-term common bonds to contribute to financing the recovery and the just and sustainable transition;
Amendment 130 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Wishes to see it ensured that funding from the SEIP, at EU and national level, goes towards the policies and programmes with the highest potential to contribute to the fight against climate change, and looks forward to the Commission’s upcoming climate tracking methodology using appropriately the criteria established by the EU taxonomy; calls on the Commission to propose, after consultation of Parliament, and using similar criteria a framework laying down a methodology establishing eligibility criteria for climate-related expenditures, defining and tracking climate expenditure together with a proofing mechanism to identify harmful impacts in accordance with the “do not significantly harm” principle and the commitments under the Paris Agreement;
Amendment 145 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
Amendment 148 #
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Highlights that the success of the Sustainable Europe Investment Plan depends on the coherence of EU policies, therefore underlines the need for harmonised sustainability indicators and a methodology for measuring impact, including LCA and natural capital accounting;
Amendment 152 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Believes that public and private finance should adhere to the EU taxonomy and to the Do Not Significantly Harm (DNSH) principle, with particular emphasis on the Recovery and Resilience Facility, in order to ensure that EU policies and financing, including the EU budget, the programmes financed through Next Generation EU, the European Semester and EIB financing do not contribute to objectives, projects and activities that significantly harm social or environmental objectives; calls for an operationalisation of the ‘do not significantly harm’ principle by clear and targeted exclusions in relevant EU funding regulations, in particular for fossil fuels, and a delegated act on climate, environmental and social proofing before the end of the year, as planned for example in the InvestEU regulation;
Amendment 176 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Calls for the phasing-out of public and private investments in highly polluting and harmful industries, using the EU taxonomy criteria, for which economically feasible alternatives are available, while fully respecting the rights of Member States to choose their energy mix;
Amendment 201 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Underlines the fact that, in order to meet its obligations under the Paris Agreement, the EU’s contribution to the climate objectives should be underpinned by an ambitious share of climate-related expenditure in the EU budget, going much beyond the levels of targeted spending shares of at least 25 % over the MFF 2021- 2027 period and of 30% as soon as possible and at the latest by 2027; considers the EU budget should follow the spending target of the European Investment Bank of 50% to climate and environmental spending so as to be in line with the ambitious objectives set by the Climate Law; highlights that all MFF and Next Generation EU funds should be consistent with National Energy and Climate Plans (NECPs) and territorial Just Transition Plans where they are set up;
Amendment 246 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Calls for ensuring that third countries are eligible for cross- border projects that contribute to the objectives of the Paris Agreement;
Amendment 264 #
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Calls on the Commission to substantially increase funding for technical assistance in relevant EU funds to 1% of the total amount to be spent, and calls on the Commission to focus technical assistance on projects and sectors with the highest environmental, social, resilience added value, in particular nature-based solutions that can deliver climate mitigation, climate adaptation and biodiversity benefits altogether;
Amendment 284 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Supports the Commission’s innovative approach in stating that the EU budget will contribute to achieving climate objectives also through its revenue side; recalls Parliament’s longstanding position in favour of generating added-value and policy co-benefits by introducing green new own resources;
Amendment 312 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
Amendment 322 #
Motion for a resolution
Paragraph 14 b (new)
Paragraph 14 b (new)
14b. Calls on all Member States to join the enhanced cooperation framework to implement a Financial Transaction Tax;
Amendment 326 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes the efforts of the European Investment Bank (EIB) to revise its energyclimate strategy and transport lending policy and to devote 50 % of its operations to climate action and environmental sustainability; calls on the EIB to commit to the sustainable transition towards climate neutrality while taking into account the different energy mixes of Member States and devoting particular attention to the sectors and regions most affected by the transition; calls on the EIB to end support to unsustainable transport projects including airports and motorways, and to make support to carbon-intensive companies conditional upon the publication of science-based climate targets and sustainable transition plans in line with the social and environmental transition; calls on the EIB to ensure financial intermediaries are not exposed to activities not supported by the EIB;
Amendment 347 #
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15a. Considers that for the EIB to play a successful role in financing the Green Deal, a bottom-up and participatory approach is crucial, and to better coordinate with various stakeholders, such as local and regional authorities and representatives from civil society;
Amendment 361 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Recognises the important role of the national promotional banks and institutions and of international financial institutions (IFIs), including the European Bank for Reconstruction and Development and the World Bank, in the financing of sustainable projects, thereby contributing to the achievement of the goals of the Paris Agreement;
Amendment 371 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Recalls the statement of the ECB President that the ECB is supporting the development of a taxonomy as a way of facilitating the incorporation of environmental considerations in central bank portfolios; calls on the ECB to evaluate the feasibility of including sustainability criteria in its collateral framework and its annual stress testing exercise, while assessing ways to guide lending towards energy transition investments and to rebuild a sustainable economy in the aftermath of the COVID- 19 crisis; encourages the ECB to move forward with its monetary policy review in order to evaluate the financing of economic activities causing significant harm to environmental and social objectives; calls on the ECB to disclose annually its degree of alignment with the Paris Agreement and its exposure to the EU taxonomy;
Amendment 385 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Supports the calls from the European Central Bank and the Central Banks and Regulators’ Network for Greening the Financial System (NGFS) to extend the EU taxonomy to unsustainable activities as soon as possible, enabling financial regulators to better assess sustainability-related financial risks;
Amendment 388 #
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
Amendment 391 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Supports a renewed sustainable finance strategy; underlines the need for an EU eco-label for financial products, for an EU Green Bond Standard (EU GBS), and for more reliable, comparable and accessible sustainability data obtained by harmonising sustainability indicators and creating a public sustainability data registerwith sector- specific Key Performance Indicators, an EU public sustainability data register and mainstreaming sustainability within all financial legislation through legislative reviews, enabling investors to better act upon their sustainability preferences;
Amendment 398 #
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
Amendment 403 #
Motion for a resolution
Paragraph 18 b (new)
Paragraph 18 b (new)
18b. Calls on the Commission to swiftly follow the advice of the Technical Expert Group on Sustainable Finance and fully exclude nuclear energy generation as a sustainable activity as defined by the taxonomy framework, including as a transitional activity;
Amendment 407 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Insists on the integration of social objectives in the sustainability framework, including through an evaluation of extending the scope of taxonomy and the development of an EU Social Bond Standard; Calls for the “Do Not Significantly Harm” principle to look at concrete social objectives including employee absenteeism, percentage of full- time employees and employees on long- term contracts, the percentage of salaries above living-wage, gender and ethnic pay gap, ratio in salary and variable remuneration between CEOs and average employees, tax compliance and corruption practices; calls for the activities pursued by companies who fail to achieve a sufficient score on any one of the above parameters to not qualify as sustainable economic activities as defined by the Disclosure Regulation and the Taxonomy Regulation;
Amendment 417 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. IEndorses the call by the High Level Expert Group on Sustainable Finance for new measures to foster long- termism to benefit people and planet; insists on the integration of governance objectives in the sustainability framework, including through additional voting rights for long-term shareholders, reform of remuneration structures and fiduciary duties for top-line management, and mandatory sustainability reporting and due diligence for financial institutions and large corporates together with liability and access to remedy in EU court; welcomes the preparation of a sustainable corporate governance initiative; which should include a legislative proposal on directors duties including mandatory sustainability strategies and measurable targets for large companies;
Amendment 422 #
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Favours the extension of the sustainability framework to the corporate sector; calls for mandatory sustainability reporting and due diligence for both financial institutions and large corporates, for stricter corporate liability regarding sustainability risks and for better quality data reporting, including by introducing verification mechanism and independent auditing;
Amendment 423 #
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
Amendment 425 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Recalls that investments in unsustainable economic activities may lead to stranded assets with lock-in effects; considers this risk to be insufficiently integrated in credit ratings and prudential frameworks including the Basel framework; calls for a review of the Credit Ratings Regulation to promote transparency in sustainability rating and an assessment of the possibility of inclusion of sustainability factors in prudential legislation; calls for the development of a brown taxonomy indicating investments facing increased exposure to climate risks and for the use of this brown taxonomy in the prudential framework;
Amendment 449 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. CHighlights the risk of reduced public spending on the sustainable transition in the context of the covid-19 crisis; calls for the introduction of an enabling framework for public sustainable investments to achieve the goals set out in the European Green Deal, but stresses that whatever financing model is chosen must not undermine the sustainability of public finance in the EU; supports the commitment by EVP Dombrovskis to explore how taxonomy can be used in the public sector; calls for public support for airlines to be used in a sustainable and efficient manneradvocates for the creation of a Sustainable Green Golden Rule to exclude sustainable investments from the EU’s economic governance framework; calls for a sustainable development pact to survey the implementation of the sustainability objectives and the green investment gap in each Member State; welcomes that EU Taxonomy will guide investment in Europe’s recovery to ensure it is in line with the EU-long term ambitions ; calls for a greater transparency of the degree of sustainability of public investment at EU and Member State level; supports the commitment by EVP Dombrovskis to explore how taxonomy can be used in the public sector; calls for public support for airlines to be used in a sustainable and efficient manner; supports the pledge by the Commission to explore how the EU Green Bond Standard, as well as other enabling frameworks, can increase public and private finance for sustainable investments;
Amendment 466 #
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Calls for the general escape clause of the Stability and Growth Pact (SGP) to last throughout the current economic and sanitary crisis; highlights that high debt levels following the reactivation of the budgetary rules may result in excessive deficit procedures for many EU Member States; calls for the reform of the SGP with an expenditure rule that facilitates net public investments, allows for counter-cyclical action and takes into consideration the EU fiscal stance as a whole, so as to reduce the risk of severe austerity imposed following the reactivation of the SGP, and enable the investment needed for the recovery and the sustainable and just transition;
Amendment 477 #
Motion for a resolution
Paragraph 22 b (new)
Paragraph 22 b (new)
Amendment 485 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Recalls that the European Semester is a framework for EU Member States to coordinate their budgetary and economic policies; believes that it couldmust facilitate the implementation of the European Green Deal, the European Pillar of Social Rights and the UN Sustainable Development Goals (SDGs); believes that the SDGs should be at the heart of EU’s policy making process; therefore calls for a new Sustainable Development Cycle as one comprehensive surveillance procedure for economic, social and sustainability objectives and to apply the above mentioned sustainable development pact;
Amendment 497 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Notes that recovery and resilience plans will be based on shared EU priorities; highlights in this context the European Green Deal and the European Pillar of Social Rights; seeks the inclusion of priorities in areas such as employment, skills, education, research and innovation and health, but also in areas related to the business environment, including public administration and the financial sector; considers that the sustainability provisions in the current Recovery and Resilience Facility Regulation are insufficient; deems essential the incorporation of the EU Taxonomy in recovery and resilience plans through an ambitious minimum spending target on environmentally sustainable economic activities and the application of the Do Not Significantly Harm principle to all spending through these plans; deems the Commission responsible for monitoring adherence to these plans and for re- appropriating funds not spent in accordance with the plans;
Amendment 510 #
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Calls for companies benefitting from public support to commit to public country-by-country reporting, to respect their non-financial reporting obligations and to guarantee jobs, and disclose any beneficial treatment received; urges that such companies should fairly contribute to the recovery efforts by paying their fair share of taxes; seeks in this context a new social contract for corporates, harmonizing aims for profit with considerations for people and planet;
Amendment 511 #
Motion for a resolution
Paragraph 24 b (new)
Paragraph 24 b (new)
Amendment 512 #
Motion for a resolution
Paragraph 24 c (new)
Paragraph 24 c (new)
24c. Calls on the Commission to revise State aid rules to set common minimum sustainability standards and to require large companies asking for support in high -carbon sectors to set and publish climate science-based targets and time- bound net-zero transition plans to align their operations with the Paris Agreement;
Amendment 517 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Supports the Solvency Support Instrument to level the playing field in the single market, and the introduction of ‘transition plans’ for certain companies to increase the sustainability of their activities; considers that society can ask for a quid pro quosomething in return when providing support to companies; sees transition plans including science-based and time- bound sustainability targets as a way of ensuring that public funding is spent in line with public interests; believes that transition plans should be obligatory for companies seeking state aid or EU-level support unless it is clear that they do not engage in environmentally or socially harmful activities; urges the Commission to only approve transition plans that set businesses on the path to the climate- neutral and circular economy without significantly harming any other environmental or social objectives;
Amendment 524 #
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25a. Underlines the role of National Promotional Banks in creating a sustainable economy; calls for state aid reforms to enable NPBs to provide preferential loans below market rates to promote sustainability; underlines the importance of ensuring local technical support for project promoters and innovation and the role of project nurseries helping projects to mature to receive financing;
Amendment 534 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. Invites the Commission to revise the Energy Tax Directive to increase relevant minimum excise duties that lost their effect due to inflation, end current tax exemptions to kerosene and maritime fuels, and coordinate a kerosene tax that could also feed into the EU budget;
Amendment 545 #
Motion for a resolution
Paragraph 26 a (new)
Paragraph 26 a (new)
26a. Recalls that tax evasion and tax avoidance cause potential lost resources for national and EU budgets quantified as ranging from €50-70 billion to€160-190 billion;1a therefore seeks an intensified fight against tax fraud, tax evasion and tax avoidance and aggressive tax planning ; calls on the Commission to establish criteria on which it assesses EU Member State that would result in a black-list of EU Member States facilitating tax avoidance and to draft binding tax compliance plans for these Member States; __________________ 1aEuropean Parliament, EPRS, Bringing transparency, coordination and convergence to corporate tax policies in the European Union: I - Assessment of the magnitude of aggressive corporate tax planning, Study, 2015
Amendment 546 #
Motion for a resolution
Paragraph 26 b (new)
Paragraph 26 b (new)
26b. Calls on Member States that are accused of facilitating tax avoidance to implement a minimum effective tax rate of 18% on all profits generated at Member State level, including profits shifted to tax havens through passive income such as interests and royalties payments or other base erosion and profit shifting tools so as to fight tax avoidance and mobilise resources to finance the sustainable and just transition.
Amendment 547 #
Motion for a resolution
Paragraph 26 c (new)
Paragraph 26 c (new)
26c. Recalls that Value Added Tax (VAT) can be used to incentivise moving from harmful to sustainable activities; therefore urges Member States to adopt the definitive package on VAT which would enable them to make use of targeted VAT rates for goods and services supporting the realisation of the European Green Deal;
Amendment 555 #
Motion for a resolution
Paragraph 27
Paragraph 27
27. Wishes it to be ensured that all contribute equitably to the post-corona recovery and the transition to a sustainable economy; considers that corporate profits and private wealth flow the lowest-taxed jurisdictions within the single market; seeks an intensified fight against tax fraud, tax evasion and tax avoidance and aggressive tax planning; calls on the Commission to create a blacklist of EU Member States facilitating tax avoidance; calls for EU-level coordination to avoid aggressive tax planning by individuals and corporates; seeks in this context an ambitious strategy for business taxation for the 21st century and calls for an EU- coordinated wealth tax;
Amendment 566 #
Motion for a resolution
Paragraph 27 a (new)
Paragraph 27 a (new)
27a. Reiterates its call for phasing out of fossil fuel subsidies including in the form of a tax advantage, while fully respecting of the rights of Member State to choose their energy mix; supports, however, tax measures that would incentivise investment in cleaner energy and mode of transportation;