Activities of Maria ARENA related to 2020/2058(INI)
Plenary speeches (1)
Sustainable Europe Investment Plan - How to finance the Green Deal (debate)
Shadow opinions (1)
OPINION on the Sustainable Europe Investment Plan – How to finance the Green Deal
Amendments (20)
Amendment 16 #
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Call on the Commission to ensure that all Territorial Transition Plans exclude any investments that does not qualify as sustainable according to the EU sustainable taxonomy and the do-no- significant-harm principle, and to set concrete milestones and timelines for achieving climate neutrality by 2050 at the latest;
Amendment 23 #
Draft opinion
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Calls on the Commission to strengthen tracking, proofing and benchmarking of sustainability spending on social and environmental objectives in all financing tools of the Sustainable European Investment Plan (e.g. EU budget, EIB, EIF, InvestEU) in order to ensure the effectiveness of the allocated funds;
Amendment 27 #
Draft opinion
Paragraph 2
Paragraph 2
2. Expects a new, unprecedented MFF, endowed with fresh money, and enhanced and new EU own resources, to be at the heart of the green transitionwith a 50% climate and environment spending target to put it at the heart of the green transition; calls on the Commission to set ambitious targets for other sustainability objectives, including biodiversity and the fight against inequality in the new MFF; calls on the Commission to increase the new MFF levels of finance for external action to aid partner countries’ recovery from COVID-19;
Amendment 37 #
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Stresses that priority sustainable sectors and budget lines should be identified along the headers of the MFF to receive priority funding, considering the intention to direct funds towards “shovel ready” projects, with a high capacity to create economic activity and jobs; highlights that these should include energy efficiency and resource efficiency (in particular in buildings), renewable energy and green hydrogen generation, greening of transport, climate and sustainable practices in agriculture, large scale nature restoration and green infrastructure, and carbon-neutral development of basic materials like steel, cement and basic chemicals;
Amendment 44 #
Draft opinion
Paragraph 2 b (new)
Paragraph 2 b (new)
2b. Calls on the Commission to come up with an ambitious proposal to review the different amounts allocated to the Sustainable Europe Investment Plan and its sustainable investment strategy to take into account the investment needs for climate adaptation or for other environmental challenges, such as biodiversity, and to consider the public investment needed to address the social costs of the transition and the costs of inaction;
Amendment 56 #
Draft opinion
Paragraph 3
Paragraph 3
3. Commits to a just and sustainable recovery from the coronavirus crisis that ensures that taxpayers’ money is invested in the future, not the past; that conditions fiscal expansion to drive the shift to a green economy and make societies and people more resilient; that ensures that the European Green Deal’s ‘do-not- significantly-harm’ principle applies to all recovery plans and state aid; that employs public funds to climate proof sectors and projects, thereby generating green jobs and sustainable growth; that incorporates climate risks and opportunities into the financial system, as well as all aspects of public policymaking and infrastructure; and that guarantees an end to fossil fuel subsidies and applies the polluter pays principle;
Amendment 69 #
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Stresses that to the aims laid down in paragraph 3, at least 50% of all recovery plans should be directed to environmentally and socially sustainable activities;
Amendment 71 #
Draft opinion
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Calls on the Commission to apply to the support provided to third countries as part of the recovery from the Covid-19 pandemic the same principles as recovery plans in the EU;
Amendment 75 #
Draft opinion
Paragraph 4
Paragraph 4
4. Insists that all EU-supported investments be subject toshould be legally bound by the EU taxonomy for sustainable activities, the ‘do no significant harm’ principle, and the Paris- aligned and Climate Transition Benchmarks; calls on the Commission to propose a ‘brown’ taxonomy and enhanced social sustainability criteriabased on article 12 of the Proposal for a regulation of the European Parliament and of the Council on the establishment of a framework to facilitate sustainable investment (COM(2018)0353 – C8- 0207/2018 – 2018/0178(COD)) and enhanced social sustainability criteria, notably taking into account the European Pillar of Social Rights and all EU human rights commitments; notes that these social sustainability criteria are also an integral part of the ‘do-not-significantly- harm’ principle;
Amendment 100 #
Draft opinion
Paragraph 5
Paragraph 5
5. Emphasises the European Parliament’s demandCalls on the Commission to ensure that at least 40 50% of investments under the InvestEU programme should contribute to climate, environmental and social objectives; believes that the green finance gap is surmountable;
Amendment 117 #
Draft opinion
Paragraph 7
Paragraph 7
7. Urges the Commission to cuse the EU Sustainable taxonomey forward with an EU taxonomy tracking climate and environment spending in all EU public funding including the new MFF, InvestEU, and Next Generation EU for the public sector and a green and sustainable public procurement regulation; , in order to strengthen the climate and environmental tracking system for better monitoring progress; stresses that criteria for public procurement not only has to address environmental sustainability but also human and social rights;
Amendment 124 #
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Calls on the Commission to come up by 2025 with a legislative proposal prohibiting banks, insurance companies and private investors (e.g. investment management corporation and assets managers) operating in the EU to invest in or finance activities or sectors that do significant harm to people or planet as defined by article 2 (17) of the Regulation(EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability- related disclosures in the financial services sector;
Amendment 128 #
Draft opinion
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Calls on the Commission to expand the mandatory transparency requirements under Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector; to all financial market participants and a wider range of financial products;
Amendment 129 #
Draft opinion
Paragraph 8
Paragraph 8
Amendment 142 #
Draft opinion
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Calls for support to companies to be made conditional on the publication of climate science-based target and time- bound net-zero emission sectoral transition roadmaps (in particular for high-carbon sectors); calls on the Commission to provide guidelines clarifying how the EU Sustainable Taxonomy can support these targets;
Amendment 156 #
Draft opinion
Paragraph 9
Paragraph 9
9. Calls for any investments that are necessary for climate mitigation, adaptation and the just transition to be exempted from the Stability and Growth Pact.;
Amendment 163 #
Draft opinion
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Call for a strengthened role for the European Investment Bank and the European Investment Fund in financing the transition; stresses that particular attention should be given to the criteria for climate, environmental and social proofing governing sustainable investment by the EIB and the EIF based on the do-not-significant-harm principle;
Amendment 167 #
Draft opinion
Paragraph 9 b (new)
Paragraph 9 b (new)
9b. Considers that the ECB has in its mandate the promote of sustainability; therefore calls on the ECB to press ahead with its monetary policy strategy review in order to halt as soon as possible the financing of economic activities causing significant harm to environmental or social objectives; calls on the ECB to proceed with annual climate stress tests on financial institutions it supervises; calls on the ECB to evaluate how to include sustainability criteria in its collateral framework, its asset purchases and its targeted refinancing operations, while assessing ways to guide lending towards energy transition investments, to rebuild a sustainable economy in the aftermath of COVID-19; calls on the ECB to employ the EU Taxonomy for these actions where relevant;
Amendment 175 #
Draft opinion
Paragraph 9 c (new)
Paragraph 9 c (new)
9c. Calls on the Commission to assess possible new financial resources for the transition, which are both environmentally and socially sustainable, in particular in the field of taxation (e.g. EU-wide tax on benefits for companies, EU wealth tax, carbon border adjustment mechanism, plastics tax) and to launch a reform of EU fiscal rules to facilitate public investment in decarbonising the economy;
Amendment 177 #
Draft opinion
Paragraph 9 d (new)
Paragraph 9 d (new)
9d. Considers that the upcoming renewed EU sustainable finance strategy, to be published by Q4 2020, is a major opportunity to accelerate the shift towards more resilient and sustainable finance; therefore calls on the Commission to build on it and come up with legislative proposals on standardised corporate sustainability reporting and on corporate environmental and human rights due diligence; calls on the Commission to review the relevant financial regulations to better integrate sustainability-related financial risks, factors and preferences;