62 Amendments of Theresa GRIFFIN related to 2018/0229(COD)
Amendment 31 #
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
(6 a) Appeal to create a Just Transition Fund with the aim to support workers and communities adversely affected by transitions in the work place; in this respect calls on the Commission to set up a financing platform at Union level for this initiative; further more stresses that under this fund sufficient resources should be ensured for creation of decent and sustainable jobs, together with re- skilling and up-skilling in clean processes and technologies, as well as enhancing social protection schemes, including active labour market policies;
Amendment 62 #
Proposal for a regulation
Recital 5
Recital 5
(5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, advancing technologies and innovations combatting climate change, the sustainability of the Union's economic growth, the social resilience and inclusiveness and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners. It should be demand-driven while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union.
Amendment 68 #
Proposal for a regulation
Recital 6
Recital 6
(6) The InvestEU Fund should support investments in tangible and intangible assets to foster sustainable growth, investment and employment, and thereby contributing to improved well-being and fairer income distribution in the Union. Intervention through the InvestEU Fund should complement Union support delivered through grants.
Amendment 72 #
Proposal for a regulation
Recital 7
Recital 7
(7) The Union endorsed the objectives set out in the United Nations Agenda 2030 and its Sustainable Development Goals and the Paris Agreement in 2015 as well as the Sendai Framework for Disaster Risk Reduction 2015-2030. To achieve the agreed objectives, including those embedded in the environmental policies of the Union, action pursuing sustainable development is to be stepped up significantly. Therefore, the principles of sustainable development should feature prominently inmust be the basis of the design of the InvestEU Fund.
Amendment 73 #
Proposal for a regulation
Article 3 – paragraph 1 – point d a (new)
Article 3 – paragraph 1 – point d a (new)
(d a) to scale up investments into the mitigation of climate change by reserving at least 35% of the financial envelope to the EUs climate objectives
Amendment 76 #
Proposal for a regulation
Recital 9
Recital 9
(9) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement and the United Nations Sustainable Development Goals, the InvestEU Programme will contribute to mainstream climate actions and to the achievement of an overall target of 2530 % of the Union budget expenditures supporting climate objectives. Actions under the InvestEU Programme are expected to contribute 3at least 40 % of the overall financial envelope of the InvestEU Programme to climate objectives. Relevant actions will be identified during the InvestEU Programme's preparation and implementation and reassessed in the context of the relevant evaluations and review processes.
Amendment 77 #
Proposal for a regulation
Recital 9 a (new)
Recital 9 a (new)
(9a) With regard to cost of capital of renewable energy projects, the InvestEU Fund should allow for the use of an innovative guarantee instrument to reduce regulatory risk and associated high cost of capital in some Member States. This possibility should be open on a voluntary basis. To achieve this objective, the InvestEU Fund should contribute where appropriate to the enabling framework for investment into renewable energy as set out in Art 3.5 of the [revised Renewables Directive], including the financing mechanism established by Article 27bis of the [Governance Regulation].
Amendment 79 #
Proposal for a regulation
Recital 10
Recital 10
(10) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through an EU climate tracking system developed by the Commission in cooperation with implementing partners and using in an appropriate way the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment14 ] for determining whether an economic activity is environmentally sustainable. _________________ 14The InvestEU Programme will also contribute to implementing other dimensions of the Sustainable Development Goals (SDGs) in line with the Communication on the next steps for a sustainable European future which aims to mainstream the SDGs into EU policies and initiatives, with sustainable development as an essential guiding principle for all its policies. _________________ 14 COM(2018)353. COM(2018)353.
Amendment 87 #
Proposal for a regulation
Recital 13
Recital 13
(13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure and energy efficiency are fundamental to meet the Union's sustainability targets, including the Union's commitments towards the SDGs, and the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into sustainable development-compatible projects on transport, energy, including energy efficiency and renewable energy, environmental, climate action, maritime and digital infrastructure. InvestEU must prioritise the areas that enable the Union to meet its 2030 and mid-century sustainability and climate targets. To maximise the impact and the value added of Union financing support, it is appropriate to promote a streamlined investment process enabling visibility of the project pipeline and consistency across relevant Union programmes. Bearing in mind security threats, investment projects receiving Union support should take into account principles for the protection of citizens in public spaces. This should be complementary to the efforts made by other Union funds such as the European Regional Development Fund providing support for security components of investments in public spaces, transport, energy and other critical infrastructure.
Amendment 94 #
Proposal for a regulation
Recital 13 a (new)
Recital 13 a (new)
(13a) The Energy Performance of Buildings directive (Directive (EU) 2018/844) requires Member States to establish a long-term renovation strategy to support the renovation of the national stock of residential and non-residential buildings, both public and private, into a highly energy efficient and decarbonised building stock by 2050, facilitating the cost-effective transformation of existing buildings into nearly zero-energy buildings. Member States are also required to facilitate access to appropriate mechanisms for the aggregation of projects and the reduction of the perceived risk for investors and the private sector.
Amendment 94 #
Proposal for a regulation
Article 7 – paragraph 1 – point a
Article 7 – paragraph 1 – point a
(a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy with a focus on renewable energy-sources and energy-efficiency, digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 99 #
Proposal for a regulation
Article 7 – paragraph 1 – point d
Article 7 – paragraph 1 – point d
(d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; a Just Transition for workers, skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities with a social goal; integration of vulnerable people, including third country nationals.
Amendment 106 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 2 – point c a (new)
Article 7 – paragraph 3 – subparagraph 2 – point c a (new)
c a) estimate the positive effects as to achieve the EUs climate and energy targets as set out in the EU climate and energy efficiency strategies
Amendment 114 #
Proposal for a regulation
Article 7 – paragraph 5
Article 7 – paragraph 5
5. Implementing partners shall target that at least 50 % of the investment under the sustainable infrastructure policy window contribute to meeting the Union objectives on climate and environment., as to meet the commitments under the United Nations Framework Convention on Climate Change COP 21
Amendment 117 #
Proposal for a regulation
Recital 18
Recital 18
(18) The InvestEU Fund should operate under fourive policy windows, mirroring the key Union policy priorities, namely sustainable infrastructure; building renovation; research, innovation and digitisation: SMEs; and social investment and skills.
Amendment 124 #
Proposal for a regulation
Recital 19 a (new)
Recital 19 a (new)
(19a) The InvestEU Fund should also support just transition actions and strategies supporting investments addressing the situation of workers in specific sectors like coal/lignite mining, automotive, that could be affected from the transition to a low-carbon economy. The Invest EU fund should be able to support the transformation of those economies towards sustainable activities and attract alternative innovative businesses, start-ups, and industries with the aim of building a sustainable regional economy. Further synergies with additional supporting schemes like the modernisation Fund to be set up for the period 2021-2030 as well as other national and Union ‘s programmes addressing fair transition should also be promoted.
Amendment 141 #
Proposal for a regulation
Article 20 – paragraph 1 – subparagraph 2 a (new)
Article 20 – paragraph 1 – subparagraph 2 a (new)
The Invest EU Advisory Hub shall provide advisory support at national, regional and local level to promote projects with a view of ensuring that social and environmental aspects are taken into regard throughout the project cycle. Such support shall include assistance to project development and capacity building.
Amendment 154 #
Proposal for a regulation
Annex II – paragraph 1 – point 1 – point a
Annex II – paragraph 1 – point 1 – point a
(a) expansion of the generation and promoting rapid deployment, supply or use of clean and sustainable renewable energy;
Amendment 165 #
Proposal for a regulation
Annex II – paragraph 1 – point 2 – point b
Annex II – paragraph 1 – point 2 – point b
(b) smart and sustainable urban mobility projects, including inland waterway and air transport (targeting low- emission urban transport modes, non- discriminatory accessibility, air pollution and noise, energy consumption and accidents);
Amendment 172 #
Proposal for a regulation
Annex II – paragraph 1 – point 6 – point a a (new)
Annex II – paragraph 1 – point 6 – point a a (new)
(a a) Protection of Privacy and Personal Data
Amendment 177 #
Proposal for a regulation
Article 2 – paragraph 1 – point 12
Article 2 – paragraph 1 – point 12
Amendment 183 #
Proposal for a regulation
Annex III – point 4 – point 4.4 a (new)
Annex III – point 4 – point 4.4 a (new)
4.4 a Transport: Investments mobilised to contribute to a balanced mix between transport modes, including innovative solutions for inland waterway and air transport
Amendment 184 #
Proposal for a regulation
Article 3 – paragraph 1 – point b
Article 3 – paragraph 1 – point b
(b) the sustainability of the Union economy and its growthgrowth of a sustainable economy, enabling the Union to achieve the SDGs and the objectives of the Paris Climate agreement;
Amendment 186 #
Proposal for a regulation
Annex III – point 7 – point 7.2 a (new)
Annex III – point 7 – point 7.2 a (new)
7.2 a Support to highly qualified workforce: number of employees supported to maintain highly skilled workforce in the manufacturing and services and adapt it to digitalisation
Amendment 188 #
Proposal for a regulation
Article 3 – paragraph 2 – point a
Article 3 – paragraph 2 – point a
(a) to support financing and investment operations in sustainable infrastructure and building renovation in the areas referred to in points (a) and (aa) of Article 7(1);
Amendment 199 #
Proposal for a regulation
Article 3 – paragraph 2 – point d a (new)
Article 3 – paragraph 2 – point d a (new)
(da) to contribute to an overall target of at least 30% of the EU budget expenditures that must support climate objectives and to allocate to that end at least 40% of the overall financial envelope of the EUInvest Programme to support investments that will directly help to deliver on the EU’s commitments in the Paris Agreement, the EU's 2030 climate and energy targets monitored by Regulation EU (XX) [Governance of the Energy Union] and a net-zero greenhouse gas emissions economy by 2050.
Amendment 202 #
Proposal for a regulation
Article 3 – paragraph 2 – point d b (new)
Article 3 – paragraph 2 – point d b (new)
(db) to increase investment in climate mitigation and adaptation by contributing at least 40% of its overall financial envelope to climate objectives.
Amendment 204 #
Proposal for a regulation
Article 4 – paragraph 1 – subparagraph 1
Article 4 – paragraph 1 – subparagraph 1
The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR 38 000 000 000 (current prices). It shall be provisioned at the rate of 40 %. The Commission may decide to select a financial institution that has a broad coverage across the Union and knowledge of EU policies.
Amendment 208 #
Proposal for a regulation
Article 4 – paragraph 1 – subparagraph 2 a (new)
Article 4 – paragraph 1 – subparagraph 2 a (new)
The projects to be financed with the additional amount shall be dedicated exclusively for actions that are eligible under the eligibility criteria set up in the rules of the Union programme under which the amount has been transferred .
Amendment 210 #
Proposal for a regulation
Article 4 – paragraph 2
Article 4 – paragraph 2
2. The indicative distribution of the amount referred to in the first subparagraph of paragraph 1 is set out in Annex I to this Regulation. The Commission may modify the amounts referred to in that Annex I, where appropriate, by up to 15 % for each objective. It shall inform the European Parliament and the Council of any modification.
Amendment 213 #
Proposal for a regulation
Article 4 – paragraph 4
Article 4 – paragraph 4
4. The amount referred to in paragraph 3 may also be used for technical and administrative assistance for the implementation of the InvestEU Programme, such as preparatory, monitoring, control, audit and evaluation activities including corporate information technology systems, but may not exceed 5% of the value of the financial envelope defined in paragraph 1.
Amendment 216 #
Proposal for a regulation
Article 6 – paragraph 2 – point a
Article 6 – paragraph 2 – point a
(a) be consistent with the policy objectives and comply with the eligibility criteria set out in the rule on the Union programme under which the support is decided; not a single financing or investment operation covered by the EU guarantee may undermine or go against the implementation of the SDGs, the EU’s commitments in the Paris Agreement, the EU's 2030 climate and energy objectives and the achievement of a net-zero greenhouse gas emissions economy by 2050;
Amendment 220 #
Proposal for a regulation
Article 7 – paragraph 1 – point a
Article 7 – paragraph 1 – point a
(a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy,renewable energy, energy efficiency investments, in line with the 2030 and 2050 energy frameworks; digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 222 #
Proposal for a regulation
Article 7 – paragraph 1 – point a a (new)
Article 7 – paragraph 1 – point a a (new)
(aa) building renovation window: comprises finance of individual or aggregated refurbishment of buildings projects, investment platforms, pre- financing schemes with on-bill or on-tax repayment contributing to the renovation of buildings focused on energy savings, the deployment of decentralised renewable energy and the integration of buildings into a connected energy, storage, digital and transport system.
Amendment 226 #
Proposal for a regulation
Article 7 – paragraph 1 – point b
Article 7 – paragraph 1 – point b
(b) research, innovation and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative companies other than SMEs as well as digitisation of Union industry;
Amendment 241 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 1
Article 7 – paragraph 3 – subparagraph 1
Financing and investment operations under the sustainable infrastructure policy window referred to in point (a) of paragraph (1) shall be subject to climate, environmental and social sustainability proofing with a view to minimise detrimental impacts and maximise benefits on climate, environment and social dimension. For that purpose, promoters requesting financing shall provide adequate information based on guidance to be developed by the Commission. Projects below a certain size defined in the guidance shall be excluded from the proofing., using criteria established by the [Regulation on the establishment of a framework to facilitate sustainable investment] for determining whether an economic activity is environmentally sustainable. Projects below a certain size defined in the guidance shall be excluded from the proofing, but must demonstrate the positive contribution to the environmental and social sustainability objectives of the Union
Amendment 245 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 2 – point b a (new)
Article 7 – paragraph 3 – subparagraph 2 – point b a (new)
(ba) demonstrate the consistency of the project with the EU and Member States’ climate and energy objectives and trajectories as monitored by Regulation EU (XX) [Governance of the Energy Union] and with the aim to achieve a net- zero greenhouse gas emissions economy by 2050.
Amendment 249 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 2 a (new)
Article 7 – paragraph 3 – subparagraph 2 a (new)
estimate the impact on employment and job creation;
Amendment 250 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 2 b (new)
Article 7 – paragraph 3 – subparagraph 2 b (new)
contribution to the Sustainable Development Goals.
Amendment 252 #
Proposal for a regulation
Article 7 – paragraph 4
Article 7 – paragraph 4
4. Implementing partners shall provide the information necessary to allow the tracking of investment that contributes to meeting the Union objectives on climate and environmentsocial, climate and environment objectives of the Union, based on guidance to be provided by the Commission.
Amendment 255 #
Proposal for a regulation
Article 7 – paragraph 5
Article 7 – paragraph 5
5. Implementing partners shall targetensure that at least 750 % of the investment under the sustainable infrastructure policy window significantly contribute to meeting the Union objectives on climate and environment. , in line with the EU commitments made at the 21st Conference of the Parties to the UN Framework Convention on Climate Change.
Amendment 296 #
Proposal for a regulation
Article 11 – paragraph 1 a (new)
Article 11 – paragraph 1 a (new)
1a. The InvestEU Fund shall not support activities related to production, processing, distribution, storage or combustion of fossil fuels, with the exception of investment related to clean vehicles as defined in Article 4 of Directive 2009/33/EC of the European Parliament and of the Council.
Amendment 320 #
Proposal for a regulation
Article 17 – paragraph 1
Article 17 – paragraph 1
1. The Commission shall be advised by an advisory board which shall have two configurations, namely representatives of implementing partners and representatives of Member States. Both configuration shall strive to ensure gender balance among their Members.
Amendment 336 #
Proposal for a regulation
Article 19 – paragraph 1 – point b
Article 19 – paragraph 1 – point b
(b) verify their compliance with this Regulation and the relevant investment guidelines, giving particular attention to the sustainability proofing referred to in Article 7(3), the additionality requirement referred to in [Article 209(2)(b)] of the [Financial Regulation] and to the requirement to crowd in private investment referred to in [Article 209(2)(d)] of the [Financial Regulation]; and
Amendment 353 #
Proposal for a regulation
Article 20 – paragraph 1 – subparagraph 2
Article 20 – paragraph 1 – subparagraph 2
The InvestEU Advisory Hub shall be available as a component under each policy window referred to in Article 7(1) covering all the sectors under that window, in particular for those contributing to EU climate objectives. In addition, cross- sectoral advisory services shall be available.
Amendment 382 #
Proposal for a regulation
Annex II – paragraph 1 – introductory part
Annex II – paragraph 1 – introductory part
The financing and investment operations may fall under one or more of the following areas, but shall not support activities related to production, processing, distribution, storage or combustion of fossil fuels, with the exception of investment related to clean vehicles as defined in Article 4 of Directive 2009/33/EC of the European Parliament and of the Council:
Amendment 385 #
Proposal for a regulation
Annex II – paragraph 1 – introductory part
Annex II – paragraph 1 – introductory part
The financing and investment operations mayshall fall under one or more of the following areas:
Amendment 390 #
Proposal for a regulation
Annex II – paragraph 1 – point 1 – point a
Annex II – paragraph 1 – point 1 – point a
(a) expansion of the generation, supply or use of clean and sustainable renewable energy;
Amendment 393 #
Proposal for a regulation
Annex II – paragraph 1 – point 1 – point c
Annex II – paragraph 1 – point 1 – point c
(c) development, smartening and modernisation of sustainable energy infrastructure (transmission and distribution level, storage technologies, smart grids);
Amendment 399 #
Proposal for a regulation
Annex II – paragraph 1 – point 1 – point e
Annex II – paragraph 1 – point 1 – point e
(e) infrastructure for the carbon- capture and -storage infrastructure. of industrial process emissions and emissions of bio-energy plants.
Amendment 402 #
Proposal for a regulation
Annex II – paragraph 1 – point 1 a (new)
Annex II – paragraph 1 – point 1 a (new)
1a. deployment of electric charging infrastructure.
Amendment 406 #
Proposal for a regulation
Annex II – paragraph 1 – point 2 – point b
Annex II – paragraph 1 – point 2 – point b
(b) smart and sustainable urban mobility projects (targeting zero and low- emission urban transport modes, accessibility, air pollution and noise, energy consumption and accidents);
Amendment 412 #
Proposal for a regulation
Annex II – paragraph 1 – point 2 – point e
Annex II – paragraph 1 – point 2 – point e
(e) alternative fuels infrastructure, including electric charging infrastructure, both stationary as well as electric road systems making use of overhead catenary or in-road charging.
Amendment 434 #
Proposal for a regulation
Annex II – paragraph 1 – point 5 – point f
Annex II – paragraph 1 – point 5 – point f
(f) new effective and accessible healthcare products, including pharmaceuticals, medical devices and advanced therapy medicinal products, having difficulties to find appropriate private funding.
Amendment 438 #
Proposal for a regulation
Annex II – paragraph 1 – point 6 – introductory part
Annex II – paragraph 1 – point 6 – introductory part
6. Development and, deployment and scaling up of digital technologies and services, in particular through:
Amendment 445 #
Proposal for a regulation
Annex II – paragraph 1 – point 6 a (new)
Annex II – paragraph 1 – point 6 a (new)
6a. robotics and automatisation.
Amendment 447 #
Proposal for a regulation
Annex II – paragraph 1 – point 7 – introductory part
Annex II – paragraph 1 – point 7 – introductory part
7. Financial support to entities employing up to 3 000 employees, with a particular focus on SMEs and small mid- cap companies, in particular through:
Amendment 470 #
Proposal for a regulation
Annex II – paragraph 1 – point 12 – point d
Annex II – paragraph 1 – point 12 – point d
Amendment 472 #
Proposal for a regulation
Annex II – paragraph 1 – point 13 – point b
Annex II – paragraph 1 – point 13 – point b
(b) to foster the competitiveness of space systems and technologies, addressing in particular vulnerabilityindependence of supply chains;, including dual use aspects,
Amendment 474 #
Proposal for a regulation
Annex II – paragraph 1 – point 13 – point d
Annex II – paragraph 1 – point 13 – point d
(d) to foster Union's autonomy for safe and secure access to space, including dual use aspects.
Amendment 488 #
Proposal for a regulation
Annex III – point 4 a (new)
Annex III – point 4 a (new)
4a. Number of alternative fuel infrastructure points deployed
Amendment 489 #
Proposal for a regulation
Annex III – point 4 b (new)
Annex III – point 4 b (new)
4b. Climate change: Amount of CO2 emissions reduced by Invest EU operations.