1 Amendments of Fredrick FEDERLEY related to 2016/0275(COD)
Amendment 17 #
Proposal for a decision
Recital 13
Recital 13
(13) Following the Paris Agreement adopted under the United Nations Framework Convention on Climate Change4 , the EIB should aim to sustain the current high level of climate relevant spending under the ELM, contributing to increasing its climate-related investment in developing countries from 25 % to 35 % by 2020. In addition, the EIB should work to phase out the financing of projects that do not contribute to the Union's climate objectives and the transition to a low- carbon economy. _________________ 4 Council Decision (EU) 2016/590 of 11 April 2016 on the conclusion, on behalf of the European Union, of the Paris Agreement adopted under the United Nations Framework Convention on Climate Change (OJ L 103, 19.4.2016, p. 1).