10 Amendments of Sander LOONES related to 2018/2007(INI)
Amendment 46 #
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 crisisimportance;
Amendment 50 #
Motion for a resolution
Recital B a (new)
Recital B a (new)
B a. Whereas the objective of capital requirements is to maintain financial stability by encouraging proper risk management; whereas capital requirements should reflect the risks inherent in investments; whereas capital requirements should therefore not be used to encourage green investments;
Amendment 70 #
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 are not reflected in prices and that this provides a market advantage to unsustainable and short-termist geared finance; stresses that a political anwell-designed regulatory framework to govern sustainable finance is overdcould contribute to addressing this issue;
Amendment 86 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Stresses that the financial sector as a whole and its core function of allocating capital toas efficiently as possible to the benefit of society should be governed by the values of competitiveness, equity and sustainability; emphasises in that respect the instrumental role of economic, and fiscal and monetary policy in fostering sustainable finance by facilitating capital allocation to decarbonised and resource- efficient economic activities which are able to reduce the current need for future resources and thereby capable of meeting EU sustainability goals; insists that a substantial price for greenhouse gas emissions is a key component of a functioning and efficient environmental and social market economy;
Amendment 157 #
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, where appropriate, for the integration of sustainable finance criteria in all legislation related to the financial sector;
Amendment 249 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Notes that existing credit-rating agencies do not integrate the influence of disruptive ESG trends in issuers’ future credit-worthiness; calls for clear EU standards and supervision regarding the integration of ESG factors in ratings for all credit-rating agencies operating in the EU; calls for the establishment of an accreditation process for a ‘Green Finance Mark’ by certifying agents supervised by the European Securities and Markets Authority (ESMA);
Amendment 254 #
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 270 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Intends to further clarify the mandate of the ESAs so that it includes ESG risks; calls on ESMA to update its ‘suitability’ guidelines to include ESG issues and on the three ESAs to introduce a monitoring system to assess material ESG risks beginning in 2018 and with a forward-looking climate scenario analysis; favours the extension of the ESAs’ mandate to include checking portfolio alignment with the Paris Agreement and to ensure consistency with the TCFD recommendations and alignment with international standards on climate action, including the Paris Agreement;
Amendment 307 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Calls on the ECB to redesign its purchase programmes in order to rebalance and align its portfolio with an investment policy that is consistent with the Paris Agreement and ESG goals; underlines that such redesign may act Believes that the ECB's purchase programmes, which are to be phased out, should not favour specific sectors and should in any case a pilot for establishing a future sustainability taxonomyvoid market distortions;
Amendment 313 #
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Recalls that the primary objective of the ECB's monetary policy is to maintain price stability;