Activities of Luke Ming FLANAGAN related to 2022/2153(INI)
Shadow reports (1)
REPORT on the control of the financial activities of the European Investment Bank – Annual Report 2021
Amendments (7)
Amendment 21 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Underlines the significant support provided by the EIB via the EGF, which complements other actions taken at EU level to tackle the pandemic and post- pandemic crises; appreciates that this support acts as an incentive for financial intermediaries to lend more to companies and under better conditions, thereby helping businesses to access advantageous financing rapidly in order to overcome pandemic-related issues; expresses concerns about the lack of transparency around the EGF which may result in the almost impossibility to assess whether the fund has actually benefit the European economy;
Amendment 42 #
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25 a. Regrets the decision taken by the EIB in October 2022 to roll back its climate commitments, by loosening the climate criteria companies have to meet to qualify for support;
Amendment 51 #
Motion for a resolution
Paragraph 37
Paragraph 37
37. WelcomesTakes notes of the updated codes of conduct of the Management Committee and the EIB Board of Directors of August 2021; welcomes the introduction of a longer cooling-off period for members of the Management Committee (24 months instead of 12) and for members of the Board of Directors (12 months instead of 6); regrets, however, that there is no provision excluding vice-presidents from overseeing operations in their countries of origin and insists that this be addressed in the next revision;
Amendment 55 #
Motion for a resolution
Paragraph 26 a (new)
Paragraph 26 a (new)
26 a. Takes note of the approval on 2February 2022 of a new Environmental and Social Sustainability Framework (ESSF) which defines the bank’s environmental and social policy; while welcoming the better protection of biodiversity, regrets that the new safeguarding policies do not include significant improvements in term of human rights with no clear system of human rights due diligence and no explicit request for the EIB’s clients to conduct human right impact assessments; reiterates the need for more transparency when projects are implemented through financial intermediaries;
Amendment 56 #
Motion for a resolution
Paragraph 43
Paragraph 43
43. WelcomesExpresses concerns that the adoption of the EIB Group’s revised transparency policy on 17 November 2021 following an extensive public consultation does not respond to the European Parliament’s and Civil society organisations’s demands to step up its transparency policy in line with the best practices and standards employed by other financial institutions; notes that this policy does not lays down provisions for the proactive publication of information and documents and their disclosure upon requeston the projects it finances, before a final decision is taken; reminds the importance of transparency on intermediaries, on the internal decision making procedures and on the environmental and human rights impact of the project including through their full implementation;
Amendment 58 #
Motion for a resolution
Paragraph 43 a (new)
Paragraph 43 a (new)
43 a. Urges the EIB to quickly respond to the Ombudsman’s requests to take several transparency steps to enable the public to more easily see the potential environmental impact of the projects it finances, as part of her decision taken in April 2022 on 3 different cases of complaints about transparency;
Amendment 59 #
Motion for a resolution
Paragraph 44
Paragraph 44
44. Reiterates its call for more transparency and accountability to Parliament; reiterates in particular the importance of greater Parliament scrutiny over decision of the EIB board of directors with better transparency from the Commission on the positions it takes in the EIB board of directors; in this regards invites to considers the possibility for the Parliament to have an observer status in the board’s meetings;