9 Amendments of Alfred SANT related to 2018/2007(INI)
Amendment 43 #
Motion for a resolution
Recital A
Recital A
A. whereas the power of finance can and should be used to facilitate the transition to a sustainable economy in the EU which extends beyond the climate transition into other areas of ecological crisialso includes the financing of rural and (former) industrial areas with the contribution of local banks;
Amendment 64 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Stresses the potential of a faster green transition as an opportunity for orienting capital markets towards long- term, innovative and efficient investments; notes that environmental, social and governance (ESG) benefits and risks aremay not be reflected in prices and that this provides a market advantagincentive to unsustainable and short-termist geared finance for certain market participants that focus on fast returns; stresses that a political and regulatory framework to govern sustainable finance is overdue;
Amendment 135 #
Motion for a resolution
Paragraph 6 – introductory part
Paragraph 6 – introductory part
6. Recommends that this taxonomy includetakes into account the principles of flexibility and proportionality and sets minimum parameters including three levels:
Amendment 155 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Welcomes the recent inclusion of sustainability issues in the PRIIPs and STS Regulations, as well as in Shareholders Rights Directive and the NFRD; applauds the inclusion in the IORPs Directive of recognition of stranded assets; asks for the transversal integration of sustainable finance criteria in allthe relevant legislation related to the financial sector;
Amendment 171 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Asks the Commission to adopt a regulatory strategy aimed inter alia at measurassessing sustainability risks within the framework of capital adequacy rules; stresses that capital adequacy rules must be based on and fully reflect demonstrated risks; aims to initiate an EU pilot project within the next annual budget to begin developing methodological benchmarks for that purpose;
Amendment 184 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Emphasises that disclosure is a critical enabling condition for sustainable finance; applauds the work of the Taskforce on Climate-related Financial Disclosure (TCFD) and calls on the Commission and the Council to explicitly endorse its recommendations; urges the Commission to include mandatory disclosure in the framework of the revision of the Accounting Directive and the NFRD by creating a framework for a voluntary, consistent disclosure framework able to improve both producing and using climate related financial disclosure; stresses in this respect that the reporting framework should be proportionate to the actual risks incurred by the institution, its complexity and degree of sophistication;
Amendment 191 #
9 a. Stresses that regulatory complexity might raise barriers to entry, undermine progress in sustainable lending and banking services and unduly impair credit support to the real economy; in this context stresses that proportionality should be duly accounted when designing new policies;
Amendment 226 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Notes the lack of a robust, reliable and uniform definition for reportingroom for improvement in the framework of the NFRD and the need to define the most strategic ESG metrics for each sector or sub-sector; calls on the Commission to create EU-wide multi- stakeholder groups to establish a list of metrics covering the most significant sustainability risks for each industry as part of a pilot project on this matter;
Amendment 261 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls on the Commission to establish a legally bindingvoluntary labelling system for personal bank accounts, investment funds, insurance, and financial products indicating their level of conformity with the Paris Agreement and ESG goals;