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35 Amendments of Jean-François JALKH related to 2015/0009(COD)

Amendment 17 #
Proposal for a regulation
Recital 1
(1) The economic and financial crisis has led to a lowering of the level of investments within the Union. Investment has fallen by approximately 15% since its peak in 2007. The Union suffers in particular from a lack of investment as a consequence of market uncertainty regarding the economic future and the fiscal constraints on Member States and the lack of involvement of banks in financing the real economy despite the plans for recapitalisation and the buying- up of private debts. This lack of investment slows economic recovery and negatively affects job creation, long-term growth prospects and competitiveness.
2015/03/31
Committee: ENVI
Amendment 21 #
Proposal for a regulation
Recital 2
(2) Comprehensive action is required to reverse the vicious circle created by a lack of investment. StructurThe freedom of Member States to conduct their national economic policies is essential reforms and fiscal responsibility are necessary preconditions for stimulating investment the economic recovery of the Union and may be the subject of co- operation between individual Member States. Along with a renewed impetus towards investment financing, these precondisuch cooperations can contribute to establishing a virtuous circle, where investment projects help support employment and demand and lead to a sustained increase in growth potential.
2015/03/31
Committee: ENVI
Amendment 23 #
Proposal for a regulation
Recital 3
(3) The G20, through the Global Infrastructure Initiative, has recognised the importance of investment in boosting demand and lifting productivity and growth and has committed to creating a climate that facilitates higher levels of investment.
2015/03/31
Committee: ENVI
Amendment 27 #
Proposal for a regulation
Recital 4
(4) Throughout the economic and financial crisis, the Union has made efforts to promote growth, in particular through initiatives set out in the Europe 2020 strategy that put in place an approach for smart, sustainable and inclusive growth. The European Investment Bank ('EIB') has also strengthened its role in instigating and promoting investment within the Union, partly by way of an increase in capital in January 2013. Further action is required to ensure that the investment needs of the Union are addressed and that the liquidity available on the market is used efficiently and channelled towards the funding of viable investment projectsThese measures have proved largely insufficient for economic recovery.
2015/03/31
Committee: ENVI
Amendment 28 #
Proposal for a regulation
Recital 4 a (new)
(4a) Member States remain the most effective level for the conduct of economic investment policies and directing investment plans forming part of a broad strategy for recovery and the reconstruction of the industrial apparatus.
2015/03/31
Committee: ENVI
Amendment 30 #
Proposal for a regulation
Recital 5 a (new)
(5a) The International Labour Organisation (ILO), has, however, estimated the number of jobs that could result from this investment plan at only 2.1 million by 2018, i.e. a possible decrease in unemployment in the Union by a mere 0.9 percentage points by the end of the project.
2015/03/31
Committee: ENVI
Amendment 33 #
Proposal for a regulation
Recital 9
(9) The investment environment within the Union should be improved by removing barriers to investment, reinforcing the Single Market and by enhancing regulatory predictability. The work of the EFSI, and investments across Europe generally, should benefit from this accompanying work.
2015/03/31
Committee: ENVI
Amendment 50 #
Proposal for a regulation
Recital 11
(11) The EFSI should support strategic investments with high economic value added contributing to achieving Union policy objectivthe national economic policy objectives of Member States.
2015/03/31
Committee: ENVI
Amendment 57 #
Proposal for a regulation
Recital 11 a (new)
(11a) The EFSI should not support strategic investments in the network industries or infrastructures managed in whole or in part by public authorities of the Member States on their national territory or public services and service delegations financed by national or local taxpayers directly or from commercial income paid by users.
2015/03/31
Committee: ENVI
Amendment 60 #
Proposal for a regulation
Recital 12
(12) Many small and medium enterprises, as well as mid-cap companies, across the Union require assistance to attract market financing, especially as regards investments that carry a greater degree of risk because they involve a long-term financial perspective and form part of innovation strategies. The EFSI should help these businesses to overcome capital shortages by allowing the EIB and the European Investment Fund ('EIF') to provide direct and indirect equity injections, as well as to provide guarantees for high-quality securitisation of loans, and other products that are granted in pursuit of the aims of the EFSI.
2015/03/31
Committee: ENVI
Amendment 72 #
Proposal for a regulation
Recital 14
(14) The EFSI should target projects delivering high societal and economic value. In particular, the EFSI should target projects that promote job creation, long- term growth and competitiveness. The EFSI should support a wide range of financial products, including equity, debt or guarantees, to best accommodate the needs of the individual project. This wide range of products should allow the EFSI to adapt to market needs whilst encouraging private investment in the projects. The EFSI should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money. The requirement for consistency with State aid principles should contribute to such effective and strategic use.
2015/03/31
Committee: ENVI
Amendment 73 #
Proposal for a regulation
Recital 14
(14) The EFSI should target projects delivering high societal and economic value. In particular, the EFSI should target projects that promote job creation, long- term growth and competitiveness. The EFSI should support a wide range of financial products, including equity, debt or guarantees, to best accommodate the needs of the individual project. This wide range of products should allow the EFSI to adapt to market needs whilst encouraging private investment in the projects. The EFSI should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money. The requirement for consistency with State aid principles should contribute to such effective and strategic use. These principles should be specified in favour of greater freedom of action of the Member States and recast by a regulation of the European Parliament and of the Council amending the conditions of aid granted by Member States, set out in Article 108 TFEU, by virtue of Article 109 TFEU.
2015/03/31
Committee: ENVI
Amendment 79 #
Proposal for a regulation
Recital 14 a (new)
(14a) Before committing the appropriations provided for as part of a disbursement of the general budget of the Union to supply the guarantee fund as specified by this Regulation, the Commission should produce an extensive multi-year assessment report covering the entire target period of the EFSI action, outlining the possible risks of the eviction of private sector investors and lenders and investments by public players at local and regional level in sectors of activity covered by all the programmes of investment and guarantees provided by the Union to the EIB.
2015/03/31
Committee: ENVI
Amendment 92 #
Proposal for a regulation
Recital 16 a (new)
(16a) The EFSI should not involve investments in projects for which Member States would have to assume an additional financial burden resulting from a lack of long-term investment or from meeting the expenses resulting from investments that are not financially sustainable and an operating budget running a deficit calculated through an ex-ante evaluation.
2015/03/31
Committee: ENVI
Amendment 93 #
Proposal for a regulation
Recital 17
(17) Decisions on the use of the EFSI support for infrastructure and large mid- cap projects should be made by an Investment Committee. The Investment Committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects. The Investment Committee should be accountable to a Steering Board of the EFSI, who should supervise the fulfilment of the EFSI's objectives. To effectively benefit from the experience of the EIF, the EFSI should support funding to the EIF to allow the EIF to undertake individual projects in the areas of small and medium enterprises and small mid-cap companies.
2015/03/31
Committee: ENVI
Amendment 94 #
Proposal for a regulation
Recital 17
(17) Decisions on the use of the EFSI support for infrastructure and large mid- cap projects should be made by an Investment Committee. The Investment Committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects. The appointment of the experts shall be approved by the Council by a majority vote after consulting the European Parliament. The Investment Committee should be accountable to a Steering Board of the EFSI, who should supervise the fulfilment of the EFSI's objectives. To effectively benefit from the experience of the EIF, the EFSI should support funding to the EIF to allow the EIF to undertake individual projects in the areas of small and medium enterprises and small mid-cap companies.
2015/03/31
Committee: ENVI
Amendment 104 #
Proposal for a regulation
Recital 21 a (new)
(21a) The amount of the guarantees granted by the EFSI for all projects undertaken in a Member State should be proportionate to the contribution to the EFSI resources paid by that Member State.
2015/03/31
Committee: ENVI
Amendment 106 #
Proposal for a regulation
Recital 22
(22) In accordance with the Treaty on the Functioning of the European Union, Infrastructure and project investments supported under EFSI should be consistent with State aid rules. To that end, the Commission has announced that it will formulate a set of core principles, for the purpose of State aid assessments, which a project will have to meet to be eligible for support under the EFSI. If a project meets these criteria and receives support from the EFSI, the Commission has announced that any national complementary support, will be assessed under a simplified and accelerated State aid assessment whereby the only additional issue to be verified by the Commission will be the proportionality of public support (absence of overcompensation). The Commission has also announced that it will provide further guidance on the set of core principles with a view to ensuring an efficient use of public funds.
2015/03/31
Committee: ENVI
Amendment 107 #
Proposal for a regulation
Recital 22 a (new)
(22a) The European Parliament and the Council should propose, pursuant to Article 109 TFEU, a regulation amending the conditions for granting State aid, as set out in Article 108 TFEU.
2015/03/31
Committee: ENVI
Amendment 108 #
Proposal for a regulation
Recital 23
(23) Given the need for urgent action within the Union, the EIB and the EIF may have financed additional projects, outside of their usual profile, in the course of 2015 before the entry into force of this Regulation. In order to maximise the benefit of the measures provided for in this Regulation, it should be possible for such additional projects to be included within the EU guarantee coverage in the event that they fulfil the substantive criteria set out in this Regulation.delete
2015/03/31
Committee: ENVI
Amendment 112 #
Proposal for a regulation
Recital 25
(25) The EIB should regularly evaluate activities and projects supported by the EFSI with a view to assessing their relevance, performance and impact and to identifying aspects that could improve future activities. Such evaluations should contribute to accountability and analysis of sustainabilitythe long-term sustainability of the projects selected.
2015/03/31
Committee: ENVI
Amendment 125 #
Proposal for a regulation
Recital 29
(29) To partially finance the contribution from the Union budget, the available envelopes of the Horizon 2020 – the Framework Programme for Research and Innovation 2014-2020, provided by Regulation (EU) No 1291/2013 of the European Parliament and of the Council2, and the Connecting Europe Facility, provided by Regulation (EU) No 1316/2013 of the European Parliament and of the Council3, should be reduced. Those programmes serve purposes that are not replicated by the EFSI. However, the reduction of both programmes to finance the guarantee fund is expected to ensure a greater investment in certain areas of their respective mandates than is possible through the existing programmes. The EFSI should be able to leverage the EU guarantee to multiply the financial effect within those areas of research, development and innovation and transport, telecommunications and energy infrastructure compared to if the resources had been spent via grants within the planned Horizon 2020 and Connecting Europe Facility programmes. It is, therefore, appropriate to redirect part of the funding presently envisaged for those programmes to the benefit of EFSI. __________________ 2 Regulation (EU) No 1291/2013 of the European Parliament and of the Council of 11 December 2013 establishing Horizon 2020 - the Framework Programme for Research and Innovation (2014-2020) and repealing Decision No 1982/2006/EC (OJ L 347, 20.12.2013, p. 104). 3 Regulation (EU) No 1316/2013 of the European Parliament and of the Council of 11 December 2013 establishing the Connecting Europe Facility, amending Regulation (EU) No 913/2010 and repealing Regulations (EC) No 680/2007 and (EC) No 67/2010 (OJ L 348, 20.12.2013, p. 129).
2015/03/31
Committee: ENVI
Amendment 130 #
Proposal for a regulation
Recital 32 a (new)
(32a) The projects developed by the Commission and the EIB should not be detrimental to, or supplant, the national projects of the Member States.
2015/03/31
Committee: ENVI
Amendment 132 #
Proposal for a regulation
Recital 33
(33) Although the projects identified under the project pipeline may be used by the EIB in the identification and selection of EFSI supported projects, the project pipeline should have a broader scope of identifying projects across the UnionMember States. This scope may include projects that are capable of being fully financed by the private sector or with the assistance of other instruments provided at European or national level. The EFSI should be able to support financing and investment to projects identified by the project pipeline, but there should be no automaticity between inclusion on the list and access to EFSI support and the EFSI be conferred with discretion to select and support projects that are not included on the list.
2015/03/31
Committee: ENVI
Amendment 138 #
Proposal for a regulation
Recital 35
(35) In order to ensure an appropriate coverage of the EU guarantee obligations and to ensure the continued availability of the EU guarantee, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the CommissionCommission should submit acts to the European Parliament and the Council with respect to the adjustment of the amounts to be paid in from the general budget of the Union and to amend Annex I accordingly. 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 relevant documents to the European Parliament and to the Council and that of the parties to the EFSI Agreement.
2015/03/31
Committee: ENVI
Amendment 140 #
Proposal for a regulation
Recital 36
(36) Since the objectives of this Regulation, namely to support investments in the Union and to ensure increased access to financing for companies having up to 3000 employees, cannot be sufficiently achieved by the Member States by reason of the disparities in their fiscal capacity to act but can rather, by reason of its scale and effects, be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union. In accordance with the principle of proportionality, as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve those objectives,deleted
2015/03/31
Committee: ENVI
Amendment 145 #
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 1 a (new)
The Commission shall produce a multiannual evaluation report covering the entire period targeted for EFSI action, presenting the possible risk of a crowding out effect in relation to investors and lenders from the private sector and investments by local and regional public stakeholders in the business areas affected by all the investment programmes and guarantees provided by the Union to the EIB. This evaluation shall be particularly detailed for each budget line set out in the financial impact statement. The multiannual evaluation of the crowding out risk shall be made public and presented to the Council and the European Parliament before the commitment of appropriations to be disbursed from the general budget of the Union in support of the guarantee fund provided for in this Regulation.
2015/03/31
Committee: ENVI
Amendment 176 #
Proposal for a regulation
Article 3 – paragraph 1
1. The EFSI Agreement shall provide that the EFSI shall be governed by a Steering Board, which shall determine the strategic orientation, the strategic asset allocation and operating policies and procedures, including the investment policy of projects that EFSI can support and the risk profile of the EFSI, in conformity with the objectives under Article 5(2), together with an evaluation of the possible crowding out of private investors and lenders and the local authorities, markets and sectors at which the projects are targeted. The Steering Board shall elect one of its members to be Chairperson.
2015/03/31
Committee: ENVI
Amendment 180 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 2
The Steering Board shall take decisions by consensus. The decisions shall be immediately notified to the Council and the European Parliament.
2015/03/31
Committee: ENVI
Amendment 199 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 3
Decisions of the Investment Committee shall be taken by simple majority. The decisions shall be immediately notified to the Council and the European Parliament.
2015/03/31
Committee: ENVI
Amendment 208 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point a
(a) development of infrastructure, including in the areas of transport, particularly in industrial centres; energy, in particular energy interconnections; and digital infrastructure;deleted
2015/03/31
Committee: ENVI
Amendment 222 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point b
(b) investment in education and training, health, research and development, information and communications technology and innovation;
2015/03/31
Committee: ENVI
Amendment 230 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point c
(c) expansion of renewable energy and energy and resource efficiency with regard to the resources used by private companies in the context of their business;
2015/03/31
Committee: ENVI
Amendment 248 #
Proposal for a regulation
Article 5 – paragraph 2 a (new)
2a. The operations concerned shall not relate to the following sectors and activities: - gas, electricity, water, transport and telecommunications networks and infrastructure that are managed, maintained or owned at over 50% of their capital by a Member State, by local authorities or by public bodies and institutions; - activities provided by a public or semi- public company, whose revenues are either commercial or consisting of public funds paid by the Member State; - activities, infrastructure and services that are the concern of a public service delegation and a public-private partnership; - activities regarded as public, or comparable, services under the national public law in force in the Member State;
2015/03/31
Committee: ENVI
Amendment 278 #
Proposal for a regulation
Article 10 – paragraph 2 – introductory part
2. The EIB, in cooperation with the EIF as appropriate, shall report biannually to the European Parliament and to the Council on EIB financing and investment operations. The report shall be made public and include:
2015/03/31
Committee: ENVI