164 Amendments of Jordi SOLÉ related to 2018/0229(COD)
Amendment 141 #
Proposal for a regulation
Recital 1
Recital 1
(1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium- sized enterprises ('SMEs') and the need to address key societal challenges such as sustainability or population ageing. Consequently, continued support is necessary to address market and coordination failures and sub-optimal investment situations to reduce the investment gap in targeted sectors to achieve the Union's policy objectives. In that regard, the primary aim of the InvestEU Programme should be to support otherwise difficult to fund projects that provide European citizens with long-term environmental and societal benefits, such as high quality long-term jobs and public infrastructure. It is therefore of high priority to identify and support projects that provide this genuine additionality and quality.
Amendment 153 #
Proposal for a regulation
Recital 3
Recital 3
(3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable growth and jobs, such as the Capital Markets Union, the Digital Single Market Strategy, the Clean Energy for all Europeans package, the Union Action Plan for the Circular Economy, the Low- Emission Mobility Strategy, the Defence and the Space Strategy for Europe. The InvestEU Fund should exploit and reinforce synergies between those mutually reinforcing strategies through providing support to investment and access to financing.
Amendment 162 #
Proposal for a regulation
Recital 5
Recital 5
(5) The InvestEU Fund should contribute to improving the competitiveness of the Unionand value added of the Union's productive structure, including in the field of innovation and digitisation, the sustainability and inclusiveness 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 whileProjects support undered by the InvestEU Fund should at the same time focus onfocus on providing strategic, long- term societal and environmental benefits in key areas of EU policy which would otherwise not be funded, thus contributing to meeting policy objectives of the Union.
Amendment 175 #
(6) The InvestEU Fund should support investments in tangible and intangible assets to foster growth, investment and employment, and thereby contributing to improved well-being and fairer income distribution in the Union. InvestEU funded projects must meet social and environmental standards, such as the respect for labour rights and climate- friendly energy usage and waste management. Intervention through the InvestEU Fund should complement Union support delivered through grants.
Amendment 180 #
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
(6a) The Commission, the Investment Committee and the implementing partners should ensure that projects funded under the InvestEU programme representing public-private partnerships do not entail incentives structures for private actors that could lead to large losses to the public sector.
Amendment 181 #
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 in the design of the InvestEU Fund, resilience to climate change, safety and climate- proofing should be the basis of the design of the InvestEU Fund. To this aim, fossil fuel infrastructure and nuclear installations in the power sector will not be entitled to funding.
Amendment 185 #
Proposal for a regulation
Recital 8 a (new)
Recital 8 a (new)
(8a) To achieve the Union's and international climate objectives, climate action targets should overall not be lower than 50%. In order to address the European Court of Auditors recommendations, compulsory climate action targets should be laid out in programme specific legislations and require ex-ante earmarking in all programming and planning processes rather than ex-post accounting.
Amendment 186 #
Proposal for a regulation
Recital 9
Recital 9
(9) Reflecting the importance of tackling climate change in line with the Union's climate related long-term objectives and remaining carbon budget, 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 250 % of the Union budget expenditures supporting climate objectives. Actions under the InvestEU Programme are expected to contribute 30 at least 60% 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. Climate mainstreaming and climate proofing mechanisms should be unified by reforming, expanding and centralising the Rio Market system, in order to differentiate between mitigation and adaptation, and between sectors; and by "Energy Efficiency First" assessments during infrastructure investment planning, as set out in the Regulation on the Governance of the Energy Union, as well as clear exclusion criteria.
Amendment 192 #
Proposal for a regulation
Recital 9 a (new)
Recital 9 a (new)
(9a) With regard to the 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 194 #
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 Fund will also contribute to implementing the Sustainable Development Goals (SDGs) into EU policies and initiatives, with sustainable development as an essential guiding principle. _________________ 14 COM(2018) 353 final. COM(2018) 353 final.
Amendment 195 #
Proposal for a regulation
Recital 11
Recital 11
(11) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include air, soil and water pollution, extreme weather events, biodiversity losses and failures of climate-change mitigation and adaptation. Environmental principles are strongly embedded in the Treaties and many of the Union's policies. Therefore, the mainstreaming of environmental objectives should be promoted in the InvestEU Fund related operations. Environmental protection and related risk prevention and management should be integrated in the preparation and implementation of investments. The EU should also track its biodiversity-related and air pollution control-related expenditure in order to fulfil the reporting obligations under the Convention on Biological Diversity and Directive (EU) 2016/2284 of the European Parliament and of the Council15 Investment allocated to environmentally sustainability objectivesAll investment should therefore be tracked using common methodologies coherent with that developed under other Union programmes applying to climate, biodiversity and air pollution management in order to allow assessing the individual and combined impact of investments on the key components of the natural capital, including air, water, land, soil and biodiversity.
Amendment 204 #
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 and inclusive growth, competitiveness and convergence. Sizeable investments in the European infrastructure, notably interconnection and energy efficiency, are fundamental to meet the Union's sustainability targets, including the Union's commitments towards the SDGs, the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into sustainable development-compatible projects in the field of transport, energy, including energy efficiency and renewable energy, environmental, climate action, maritime and digital infrastructure. InvestEU should prioritise the most significantly under-invested areas that require the most additional investment to meet the Union's sustainability targets, such as energy efficiency. To maximise the impact and the value added of Union financing support, it is appropriate to promote a streamlined, climate proof 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 211 #
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 aggregation of projects and the reduction of the perceived risk for investors and the private sector.
Amendment 212 #
Proposal for a regulation
Recital 14
Recital 14
(14) Whereas the level of overall investment in the Union is increasing, investment in higher-risk activities such as research and innovation is still inadequate. The resulting underinvestment in research and innovation is damaging to the industrial and economic competitiveness of the Union and the quality of life of its citizens. The InvestEU Fund should provide the appropriate financial products to cover different stages in the innovation cycle and a wide range of stakeholders, in particular to allow the upscaling of and deployment of solutions at a commercial scale in the Union, in coorder to make such solutions competitive on world marketsination with public procurement to address social and environmental needs. Particular importance should be given to promoting EU excellence in green technologies at a global level.
Amendment 215 #
Proposal for a regulation
Recital 15
Recital 15
(15) A significant effort is urgently needed to invest in digital transformation and to distribute the benefits of it to all Union citizens and businesses. The strong policy framework of the Digital Single Market Strategy should now be matched by investment of a similar ambition, including in ethical artificial intelligence. The latter should be subject to an ex-ante ethical impact assessment. This review should extend beyond the narrow confines of privacy and data protection and take into account the broader societal impacts of the underlying AI agenda. Projects that raise substantial ethical and/or societal impact concerns should be subject to enhanced scrutiny and control and to ethical review.
Amendment 216 #
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15a) As the single market is negatively impacted by the digital divide, created by lack of network access, uneven speeds between regions and lack of knowledge, the digital transformation of the society should empower citizens, especially the young digital natives, to feel secure to use new technologies, learning about privacy, security and basic safeguards that will protect them from malicious activity and increase their potential for the economy. Therefore, a comprehensive approach to increase coverage, achieve similar levels of connectivity and equal knowledge for all is needed. Moreover, the data generated by InvestEU funded projects should be kept as a source of public value and used for public policy evaluation and enhancing purposes.
Amendment 218 #
Proposal for a regulation
Recital 16
Recital 16
(16) Small and medium-sized enterprises (SMEs) play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs' need to stay competitive by engaging in digitisation, internationalisation and innovation activities and skilling up their workforce. Moreover, compared to larger enterprises, they have access to a more limited set of financing sources: they typically do not issue bonds, have only limited access to stock exchanges or large institutional investors. The challenge in accessing finance is even greater for those SMEs whose activities focus on intangible assets. SMEs in the Union rely heavily on banks and debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges and providing more diversified sources of funding is necessary for increasing the ability of SMEs to finance their creation, growth and development, withstand economic downturns, and for making the economy and the financial system more resilient during economic downturn or shocks. This is also complementary to the initiatives already undertaken in the context of the Capital Markets Union. The InvestEU Fund should provide an opportunity to focus on specific, more targeted financial products. Gender disparities also need to be addressed, as female creativity and entrepreneurial potential are an under-exploited source of growth and jobs that should be further developed. Whereas women constitute 52% of the total European population, they represent only 34.4% of the EU self- employed and 30% of start-up entrepreneurs.
Amendment 223 #
Proposal for a regulation
Recital 17
Recital 17
(17) As set out in the reflection paper on the social dimension of Europe16 and, the European Pillar of Social Rights17 , and the EU framework on the EU Convention on the Rights of Persons with Disabilities, building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training and health. Investment in the social, skills and human capital- related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. TGiven the significant need for investment into social infrastructure and projects in the fields of social services, healthcare services, education, care and social housing, the InvestEU Fund should be used to support investment in education and training, help increase employment, in particular among the unskilled and long- term unemployed, and improve the situation with regard to gender equality, equal opportunities, intergenerational solidarity, the health sector, homelessness, digital inclusiveness, community development, the role and place of young people in society as well as vulnerable people, including third country nationals. The InvestEU Programme should also contribute to the support of European culture and creativity. To counter the profound transformations of societies in the Union and of the labour market in the coming decade, it is necessary to invest in human capital, microfinance, social enterprise finance and new social economy business models, including social impact investment and social outcomes contracting and forms of employment that support work-life balance and better distribution of care responsibilities. The InvestEU Programme should strengthen nascent social market eco-system, increasing the supply of and access to finance to micro- and social enterprises, to meet the demand of those who need it the most. The report of the High-Level Task- Force on Investing in Social Infrastructure in Europe18 has identified investment gaps in social infrastructure and services, including for education, training, health and housing, which call for support, including at the Union level. Therefore, the collective power of public, commercial and philanthropic capital, as well as support from foundations, should be harnessed to support the social market value chain development and a more resilient Union.
Amendment 224 #
Proposal for a regulation
Recital 17 a (new)
Recital 17 a (new)
(17a) Article 8 of the TFEU lays down the principle for gender mainstreaming in all EU activities. A proper implementation of gender mainstreaming requires the allocation of adequate resources and transparency in the budges lines dedicated to promote gender equality and to combat gender discrimination. The InvestEU Programme should integrate the gender perspective in all its workings and decision making processes, make sure that committees and projects teams are gender balanced and ensure that the implementation of this fund contributes to the promotion of gender equality in compliance with EU gender mainstreaming obligations.
Amendment 225 #
Proposal for a regulation
Recital 17 b (new)
Recital 17 b (new)
(17b) The projects funded under InvestEU should promote equality between women and men, in particular in research and innovation, by addressing the underlying causes of gender imbalance, by exploiting the full potential of both female and male researchers, and by integration of the gender dimension in the research and innovation content; as well as by paying particular attention to ensuring gender balance in evaluation panels and in other relevant advisory and expert bodies. Activities should also aim at implementation of principles relating to equality between women and men as laid down in Articles 2 and 3 of the Treaty of the European Union, in Article 8 TFEU and Directive 2006/54/EC on the implementation of the principle of equal opportunities and equal treatment of men and women in matters of employment and occupation.
Amendment 231 #
Proposal for a regulation
Recital 19
Recital 19
(19) Each policy window should be composed of two compartments, that is to say an EU compartment and a Member State compartment. The EU compartment should address Union-wide market and coordination failures or sub-optimal investment situations in a proportionate manner; supported actions should have a clear European added value. The Member State compartment should give Member States the possibility to contribute a share of their resources of Funds under shared management to the provisioning of the EU guarantee to use the EU guarantee for financing or investment operations to address specific market failures or sub-optimal investment situations in their own territory, including in vulnerable and remote areas such as the outermost regions of the Union, to deliver objectives of the Fund under shared management. Actions supported from the InvestEU Fund through either EU or Member State compartments should not duplicate or crowd out private financing or distort competition in the internal market. In no circumstances should the InvestEU Fund substitute for or contradict the objectives of the European Social Fund (ESF), the EU's cohesion policy, or the Europe 2020 strategy.
Amendment 238 #
Proposal for a regulation
Recital 20
Recital 20
(20) The Member State compartment should be specifically designed to allow the use of funds under shared managementnational funds to provision a guarantee issued by the Union. That combination aims at mobilising the high credit rating of the Union to promote national and regional investments while ensuring a consistent risk management of the contingent liabilities by implementing the guarantee given by the Commission under indirect management. The Union should guarantee the financing and investment operations foreseen by the guarantee agreements concluded between the Commission and implementing partners under the Member State compartment, the Funds under shared managementnational Funds should provide the provisioning of the guarantee, following a provisioning rate determined by the Commission based on the nature of the operations and the resulting expected losses, and the Member State would assume losses above the expected losses by issuing a back-to-back guarantee in favour of the Union. Such arrangements should be concluded in a single contribution agreement with each Member State that voluntarily chooses such option. The contribution agreement should encompass the one or more specific guarantee agreements to be implemented within the Member State concerned. The setting out of the provisioning rate on a case by case basis requires a derogation from [Article 211(1)] of Regulation (EU, Euratom) No XXXX19 (the 'Financial Regulation'). This design provides also a single set of rules for budgetary guarantees supported by funds managed centrally or by funds under shared management, which would facilitate their combination.
Amendment 241 #
Proposal for a regulation
Recital 21
Recital 21
(21) The InvestEU Fund should be open to contributions from third countries that are members of the European Free Trade Association, acceding countries, candidates and potential candidates, countries covered by the Neighbourhood policy and other countries, in accordance with the conditions laid down between the Union and those countries. This should allow continuing cooperating with the relevant countries, where appropriate, in particular in the fields of research and innovation as well as SMEs. Moreover, cooperation and support should be provided to decrease dependence on fossil fuels and increase access to affordable renewable energy, as well as to support access to science, technology and innovation in line with the SDGs.
Amendment 259 #
Proposal for a regulation
Recital 24 a (new)
Recital 24 a (new)
(24a) The InvestEU Fund should be provided with an appropriate governance structure the function of which should be commensurate with its sole purpose of ensuring the appropriate use of the EU guarantee. That governance structure should be composed of an Advisory Board, a Steering Board and an Investment Committee. The Commission should assess the compatibility of investment and financing operations submitted by the implementing partners with Union law and policies via a dedicated procedure whereas the decisions on financing and investment operations should ultimately be taken by an implementing partner;
Amendment 276 #
Proposal for a regulation
Recital 27
Recital 27
(27) A Project Team consisting of experts put at the disposal of the Commission by the implementing partners in order to provide professional expertise in financial and technical assessment of proposed financing and investment operations should score those submitted by the implementing partners to be assessed by the Investment CommitteeBefore a project goes to the Investment Committee, the European Commission shall assess the compatibility of investment and financing operations submitted by the implementing partners with Union law and policies. A dedicated procedure shall enable the Commission to perform a quality control of the due diligence of the proposed financing and investment operations carried out by the implementing partners. The Commission may ask for clarification to implementing partners on above-mentioned matters and shall adjust the ratings in the Scoreboard on non-financial matters accordingly.
Amendment 278 #
Proposal for a regulation
Recital 28
Recital 28
(28) An Investment Committee composed of independent experts should conclude on the granting of the support from the EU guarantee to financing and investment operations fulfilling the eligibility criteria, thereby providing external expertise in investment assessments in relation to projects. The Investment Committee should have different configurations to best cover different policy areas and sectors, while it should as a general rule always include experts from climate, environmental and civil society organisations, and be gender- balanced.
Amendment 287 #
Proposal for a regulation
Recital 29
Recital 29
(29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart's capacity to fulfil the objectives of the InvestEU Fund and contribute its own resources, in order to ensure adequate geographical coverage and diversification, to crowd-in private investors and to provide sufficient risk diversification as well as new solutions to address market and coordination failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the European Investment Bank (‘EIB’) Group should remain a privileged implementing partner under the InvestEU Fund's EU compartment. In addition to the EIB Group, national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the Union and to ensure a fair geographical balance of projects, contributing to reducing regional disparities. Moreover, it should be possible to have other international financial institutions as implementing partners, in particular when they present a comparative advantage in terms of specific expertise and experience in certain Member States. It should also be possible for other entities fulfilling the criteria laid down in the Financial Regulation to act as implementing partners.
Amendment 299 #
Proposal for a regulation
Recital 30
Recital 30
(30) In order to ensure that interventions under the EU compartment of the InvestEU Fund focus on market and coordination failures and sub- optimal investment situations at Union level, but, at the same time, satisfy the objectives of best possible geographic outreach, the EU guarantee should be allocated to implementing partners, which alone or together with other implementing partners, can cover at least three Member States. However, it is expected that around 75 % of the EU guarantee under the EU compartment would be allocated to implementing partner or partners that can offer financial products under the InvestEU Fund in all Member States.
Amendment 306 #
Proposal for a regulation
Recital 33
Recital 33
(33) The InvestEU Fund should, where appropriate, allow for a smooth and efficient blending of grants or financial instruments, or both, funded by the Union budget or by the EU Emissions Trading System (ETS) Innovation Fund with that guarantee in situations where this is necessary to best underpin investments to address particular market and coordination failures or sub- optimal investment situations.
Amendment 307 #
Proposal for a regulation
Recital 35
Recital 35
(35) The InvestEU Advisory Hub should support the development of a robust pipeline of investment projects in each policy window, providing for effective implementation of geographic diversification with a view to contributing to the Union objective of economic, social, and territorial cohesion and reducing regional disparities. The Advisory Hub should pay particular attention to the necessity of aggregating small projects and bundle them into larger portfolios. In addition, a cross- sectoral component under the InvestEU Programme should be foreseen to ensure a single-entry point and cross-policy project development assistance for centrally managed Union programmes.
Amendment 316 #
Proposal for a regulation
Recital 37 a (new)
Recital 37 a (new)
(37a) Given the positive track record of national promotional banks in generating, bundling and financing projects, for example on small scale energy efficiency and renewable energy projects on a local and regional level, their expertise should be pooled into advisory hubs and their role as implementing partners should continue to be valued.
Amendment 319 #
Proposal for a regulation
Recital 44
Recital 44
(44) Third countries which are members of the European Economic Area (EEA) may participate in Union programmes in the framework of the cooperation established under the EEA agreement, which provides for the implementation of the programmes by a decision under that agreement. Third countries may also participate on the basis of other legal instruments. A specific provision should be introduced in this Regulation to grant the necessary rights for and access to the authorising officer responsible, the European Anti-Fraud Office (OLAF) as well as the European Court of Auditors to comprehensively exert their respective competences and guarantee the rights of the Union to ensure sound financial management and to protect its financial interests.
Amendment 324 #
Proposal for a regulation
Recital 47
Recital 47
(47) The InvestEU Programme should address EU-wide market and coordination failures and sub- optimal investment situations and provide for Union-wide market testing of innovative financial products, and systems to spread them, for new or complex market failures. Therefore, action at Union level is warranted,
Amendment 326 #
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
This Regulation also establishes an advisory support mechanism to support the development of investable and sustainable projects and access to financing and to provide related capacity building (‘InvestEU Advisory Hub’). It also establishes a database granting visibility to projects for which project promoters seek financing and which provides investors with information about investment opportunities (‘InvestEU Portal’).
Amendment 333 #
Proposal for a regulation
Article 2 – paragraph 1 – point 4 a (new)
Article 2 – paragraph 1 – point 4 a (new)
(4a) 'energy efficiency first' means taking utmost account, in energy planning, policy and investment decisions, of alternative cost-efficient energy efficiency measures to make energy demand and energy supply more efficient, in particular by means of cost-effective energy end-use savings, demand-side response initiatives and more efficient conversion, transmission and distribution of energy, whilst still achieving the objectives of the respective decisions.
Amendment 335 #
Proposal for a regulation
Article 2 – paragraph 1 – point 5
Article 2 – paragraph 1 – point 5
Amendment 348 #
Proposal for a regulation
Article 2 – paragraph 1 – point 12
Article 2 – paragraph 1 – point 12
Amendment 363 #
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 growth, including climate change mitigation and adaptation;
Amendment 372 #
(da) achieving the climate objectives and international commitments of the Union, as well as delivering long-term environmental and societal benefits.
Amendment 373 #
Proposal for a regulation
Article 3 – paragraph 2 – point b
Article 3 – paragraph 2 – point b
(b) to support financing and investment operations in researchinclusive and ethical research, product development, innovation and digitisation;
Amendment 381 #
Proposal for a regulation
Article 3 – paragraph 2 – point d a (new)
Article 3 – paragraph 2 – point d a (new)
(da) to support building renovation, including but not limited to refurbishment of building projects, investment platforms, pre-financing schemes 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 391 #
Proposal for a regulation
Article 4 – paragraph 1 – subparagraph 2
Article 4 – paragraph 1 – subparagraph 2
An additional amount of the EU guarantee may be provided for the purposes of the Member State compartment referred to in point (b) of Article 8(1), subject to the allocation by Member States, pursuant to [Article 10(1)] of Regulation [[CPR] number]28 and Article [75(1)] of Regulation [[CAP plan] number]29 , of the corresponding amounts.
Amendment 399 #
Proposal for a regulation
Article 4 – paragraph 3
Article 4 – paragraph 3
3. The financial envelope for the implementation of the measures provided in Chapters V and VI shall be EUR 5725 000 000 (current prices).
Amendment 402 #
Proposal for a regulation
Article 7 – paragraph 1 – introductory part
Article 7 – paragraph 1 – introductory part
1. The InvestEU Fund shall operate through the following fourive policy windows that shall address market and coordination failures or sub- optimal investment situations within their specific scope:
Amendment 405 #
(a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, digital connectivity, supply and processing of raw materials, space, oceans and water, wasteincluding the maintenance or upgrade of existing infrastructure, energy - in particular, the increased deployment of renewable energy, electricity interconnection and energy efficiency investments-, digital connectivity, climate adaptation and mitigation, recycling and processing of raw materials, space, water, waste, avoidance, recycling and reduction and the circular economy, 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, orand meet the environmental or social sustainability standards of the Union;
Amendment 410 #
Proposal for a regulation
Article 7 – paragraph 1 – point a a (new)
Article 7 – paragraph 1 – point a a (new)
(aa) building renovation policy 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 413 #
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, product development and innovation activities, transfer of research and technologies results to the market and public institutions, supporting market enablers and cooperation between enterprises, including regulatory systems, demonstration and deployment of innovative solutions and support to scaling up of innovative companies other than SMEs with regard to the net-zero carbon economy, resilience and adaptation to climate change, on the circular economy, as well as digitisation of Union industry;
Amendment 416 #
Proposal for a regulation
Article 7 – paragraph 1 – point c
Article 7 – paragraph 1 – point c
(c) SMEs policy window: access to and availability of finance for SMEs and, in duly justified cases, for small mid-cap companies, in particular to environment- friendly production processes, resource and energy efficiency and other climate relevant projects, and female entrepreneurship;
Amendment 421 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 1
Article 7 – paragraph 3 – subparagraph 1
Financing and investment operations under the sustainable infrastructureall policy windows referred to in point (a) of paragraph (1) shall be subject to climate, environmental and social sustainability proofing and tracking, through minimum sustainability thresholds in the project scoreboards, 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 proofingThe Commission shall be empowered to adopt this guidance in the form of a delegated act in accordance with article 26, taking fully into account the criteria established by the [Regulation on the establishment of a framework to facilitate sustainable investment] for determining whether an economic activity is environmentally sustainable, and in line with EU climate objectives.
Amendment 426 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 2 – introductory part
Article 7 – paragraph 3 – subparagraph 2 – introductory part
The Commission guidance shall go beyond current carbon pricing and CO2 footprint methodologies and allow to:
Amendment 428 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 2 – point a
Article 7 – paragraph 3 – subparagraph 2 – point a
(a) as regards adaptation, ensure the resilience to the potential adverse impacts of climate change through a climate vulnerability and risk assessment, including relevant adaptation measures, and, as regards mitigation, integrate the cost of greenhouse gas emissions and the positive effects of climate mitigation measures in the cost-benefit analysis, and ensure compliance with the EU environmental objectives and standards;
Amendment 430 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 2 – point b
Article 7 – paragraph 3 – subparagraph 2 – point b
(b) account for consolidated project impact in terms of the principal components of the natural capital relating to air, water, land, soil and biodiversity;
Amendment 431 #
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) rule out support for any fossil fuel infrastructure, including related to production, processing, transmission, distribution, storage or combustion of fossil fuels;
Amendment 433 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 2 – point b b (new)
Article 7 – paragraph 3 – subparagraph 2 – point b b (new)
(bb) rule out support for projects leading to significant greenhouse gas emissions accounted in line with improved greenhouse gasses emission accounting system for the entire project lifecycle assessment compatible with the 1.5ºC objective of the Paris Agreement;
Amendment 434 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 2 – point b c (new)
Article 7 – paragraph 3 – subparagraph 2 – point b c (new)
(bc) undertake an assessment whether cost-efficient, technically, economically and environmentally sound alternative energy efficiency measures, by means of cost-effective energy end-use savings, demand-side response initiatives and more efficient conversion, transmission and distribution of energy, could replace in whole or in part the proposed operation whilst still achieving the objectives of the respective undertaking, in line with the Regulation of the European Parliament and of the Council on the Governance of the Energy Union;
Amendment 436 #
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 environment, based on the guidance to be provided by the Commission in accordance with paragraph (3), fully complying with the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment] for determining whether an economic activity is environmentally sustainable and being complementary to the role of the Platform on sustainable finance which shall monitor and report regularly to the Commission on capital flows towards sustainable investments..
Amendment 438 #
Proposal for a regulation
Article 7 – paragraph 5
Article 7 – paragraph 5
5. Implementing partners shall targetensure that at least 560 % of the overall investment under the sustainable infrastructure policy window contributes to meeting the Union objectives on climate and environment in line with the EU commitments made under the Paris Agreement.
Amendment 440 #
Proposal for a regulation
Article 7 – paragraph 5 a (new)
Article 7 – paragraph 5 a (new)
5a. As to ensure the climate mainstreaming objectives stipulated in this Regulation are fulfilled, the Commission shall put in place a centrally managed system for climate tracking for allocated resources and the actual spending based on the Rio Marker system, differentiating between mitigation and adaptation and the different sectors and its GHG emissions reduction.
Amendment 441 #
Proposal for a regulation
Article 7 – paragraph 5 b (new)
Article 7 – paragraph 5 b (new)
5b. As to ensure required level of financing, at least 10% of the investment under InvestEU policy windows and in both EU and Member State compartments must be allocated for the "Environment and resources" eligible area.
Amendment 455 #
Proposal for a regulation
Article 8 – paragraph 1 – introductory part
Article 8 – paragraph 1 – introductory part
1. Each policy window referred to in Article 7(1) shall consist of two compartments addressing specific market and coordination failures or sub-optimal investment situations as follows:
Amendment 461 #
Proposal for a regulation
Article 8 – paragraph 1 – point a – point i
Article 8 – paragraph 1 – point a – point i
(i) market and coordination failures or sub-optimal investment situations related to Union policy priorities and addressed at the Union level;
Amendment 463 #
Proposal for a regulation
Article 8 – paragraph 1 – point a – point ii
Article 8 – paragraph 1 – point a – point ii
(ii) Union wide market and coordination failures or sub- optimal investment situations; or
Amendment 464 #
Proposal for a regulation
Article 8 – paragraph 1 – point a – point iii
Article 8 – paragraph 1 – point a – point iii
(iii) new or complex market and coordination failures or sub-optimal investment situations with a view to developing new financial solutions and market structures;
Amendment 467 #
Proposal for a regulation
Article 8 – paragraph 1 – point b
Article 8 – paragraph 1 – point b
(b) the Member State compartment shall address specific market and coordination failures or sub-optimal investment situations in one or several Member States to deliver objectives of the contributing Funds under shared management.
Amendment 469 #
Proposal for a regulation
Article 8 – paragraph 2 a (new)
Article 8 – paragraph 2 a (new)
2a. The Commission is empowered to adopt delegated acts in accordance with Article 26 to define market and coordination failures and sub-optimal investment situations referred to in paragraph 1 after receiving advice from the Advisory board.
Amendment 473 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
Amendment 482 #
Proposal for a regulation
Article 9 – paragraph 2 – subparagraph 2
Article 9 – paragraph 2 – subparagraph 2
Amendment 483 #
Proposal for a regulation
Article 9 – paragraph 3 – point a
Article 9 – paragraph 3 – point a
(a) the overall amount of the part of the EU guarantee under the Member State compartment pertaining to the Member State, its provisioning rate, the amount of the contribution from Funds under shared managementnational Funds, the constitution phase of the provisioning in accordance with an annual financial plan and the amount of the resulting contingent liability to be covered by a back-to-back guarantee provided by the Member State concerned;
Amendment 486 #
Proposal for a regulation
Article 9 – paragraph 3 – point a a (new)
Article 9 – paragraph 3 – point a a (new)
(aa) identified market and coordination failures and sub-optimal investment situations which should be addressed by the financed operations;
Amendment 488 #
Proposal for a regulation
Article 9 – paragraph 3 – point d
Article 9 – paragraph 3 – point d
(d) the possible contribution from Funds under shared managementnational Funds to the InvestEU Advisory Hub;
Amendment 491 #
Proposal for a regulation
Article 9 – paragraph 4 – subparagraph 2
Article 9 – paragraph 4 – subparagraph 2
Where, within nine months from the signature of the contribution agreement, no guarantee agreement has been concluded or the amount of a contribution agreement is not fully committed through one or more guarantee agreements, the contribution agreement shall be terminated in the first case or amended accordingly in the second case and the unused amount of provisioning re-used pursuant to [Article 10(5)] of Regulation [[CPR] number] and Article [75(5)] of Regulation [[CAP plan] number].
Amendment 492 #
Proposal for a regulation
Article 9 – paragraph 4 – subparagraph 3
Article 9 – paragraph 4 – subparagraph 3
Amendment 493 #
Proposal for a regulation
Article 9 – paragraph 5 – point a
Article 9 – paragraph 5 – point a
(a) after the constitution phase referred to in point (a) of paragraph 3 of this Article, any annual surplus of provisions, calculated by comparing the amount of provisions required by the provisioning rate and the actual provisions, shall be re- used pursuant to [Article 10(6)] of the [CPR] and to Article [75(6)] of the [[CAP plan] number];
Amendment 518 #
Proposal for a regulation
Article 10 a (new)
Article 10 a (new)
Article 10a Additionality For the purposes of this Regulation, and without prejudice to Article 209(2) of the Financial Regulation, 'additionality' means the support by the Invest EU Fund of operations which address market and coordination failures or sub-optimal investment situations, such as long-term return on investment or higher risk financing needs for projects delivering longer-term environmental and societal benefits, and which could not have been carried out during the period in which the EU guarantee can be used, or not to the same extent, by implementing partners without InvestEU fund support. Projects supported by the InvestEU Fund shall support the objectives laid down in Article 3, shall strive to create long-term employment, public infrastructure, sustainable growth and contribute to achieving the climate objectives of the EU.
Amendment 521 #
Proposal for a regulation
Article 11 – paragraph 1 – introductory part
Article 11 – paragraph 1 – introductory part
1. The InvestEU Fund shall only support financing and investment operations, both public and private, that
Amendment 522 #
Proposal for a regulation
Article 11 – paragraph 1 – point a
Article 11 – paragraph 1 – point a
(a) comply with the conditions set out in article 10a and [points (a) to (e) of Article 209(2)] of [the Financial Regulation], in particular with the additionality requirement set out in [point (b) of Article 209(2)] of [the Financial Regulation] and, where appropriate, maximising private investment in accordance with [point (d) of Article 209(2)] of the [Financial Regulation];
Amendment 524 #
Proposal for a regulation
Article 11 – paragraph 1 – point a a (new)
Article 11 – paragraph 1 – point a a (new)
(aa) contribute to social, climate and environmental policy objectives of the Union;
Amendment 525 #
Proposal for a regulation
Article 11 – paragraph 1 – point b
Article 11 – paragraph 1 – point b
(b) contribute to, complement and are consistent with the Union policy objectives and fall under the scope of the areas eligible for financing and investment operations under the appropriate window in accordance with Annex II to this Regulation; and
Amendment 526 #
Proposal for a regulation
Article 11 – paragraph 1 – point c a (new)
Article 11 – paragraph 1 – point c a (new)
(ca) are economically and financially viable, while taking into account the specific operating environment;
Amendment 527 #
Proposal for a regulation
Article 11 – paragraph 1 – point c b (new)
Article 11 – paragraph 1 – point c b (new)
(cb) are technically viable and are sustainable from an environmental and social point of view, in accordance with Annex III to this Regulation;
Amendment 528 #
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 the production, processing, distribution, storage or combustion of fossil fuels or CO2 transport infrastructure;
Amendment 529 #
Proposal for a regulation
Article 11 – paragraph 1 b (new)
Article 11 – paragraph 1 b (new)
1b. The InvestEU Fund shall not support activities related to the development of the defence industry;
Amendment 548 #
(f) promotes innovating financial and risk solutions to address market and coordination failures and sub-optimal investment situations.
Amendment 551 #
(fa) achieves additionality as set out in Article 10a.
Amendment 552 #
Proposal for a regulation
Article 12 – paragraph 3 – point b
Article 12 – paragraph 3 – point b
(b) the capacity of the implementing partner to implement thoroughly the requirements of [Articles 155(2) and 155(3)] of the [Financial Regulation] related to tax avoidance, tax fraud, tax evasion, money laundering, terrorism financing and non- cooperative jurisdictions.
Amendment 557 #
Proposal for a regulation
Article 12 – paragraph 4
Article 12 – paragraph 4
4. National promotional banks or institutions, including local and regional promotional banks or institutions, may be selected as implementing partners, subject to fulfilling the requirements laid down in this Article and in the second subparagraph of Article 14(1).
Amendment 569 #
Proposal for a regulation
Article 16 – paragraph 2 – point b
Article 16 – paragraph 2 – point b
(b) for equity or quasi-equity investments referred to in Article 13(1)(a), the amounts invested and their associated funding cost and losses arising from fluctuations of currencies other than the euro where possibilities for long-term hedging are limited;
Amendment 573 #
Proposal for a regulation
Article -17 (new)
Article -17 (new)
Article -17 All bodies participating in the decision- making and selection of projects, including the advisory board, the project team and the investment committee shall act according to the principles of transparency, integrity, accountability and guaranteed stakeholder participation, including from civil society organisations. They shall be gender-balanced and composed of independent experts from various technical backgrounds, including climate experts. Information on projects, selection procedure and decision-making, including the minutes of meetings, shall be published on a dedicated website, with the exception of commercially sensitive information, which upon request must be made available to the Members of the European Parliament and staff of political groups in a securitised reading room.
Amendment 588 #
(ii) provide advice to the Commission about market and coordination failures and sub-optimal investment situations and market conditions;
Amendment 607 #
Proposal for a regulation
Article 18 – title
Article 18 – title
Amendment 608 #
Proposal for a regulation
Article 18 – paragraph 1
Article 18 – paragraph 1
Amendment 611 #
Proposal for a regulation
Article 18 – paragraph 2
Article 18 – paragraph 2
Amendment 614 #
Proposal for a regulation
Article 18 – paragraph 2 a (new)
Article 18 – paragraph 2 a (new)
Amendment 616 #
Proposal for a regulation
Article 18 – paragraph 3
Article 18 – paragraph 3
Amendment 617 #
Amendment 619 #
Proposal for a regulation
Article 18 – paragraph 4 – subparagraph 2
Article 18 – paragraph 4 – subparagraph 2
Amendment 620 #
Proposal for a regulation
Article 18 – paragraph 4 – subparagraph 3 – point c
Article 18 – paragraph 4 – subparagraph 3 – point c
(c) the respect of the eligibility criteria, including the compliance with the EU environmental standards, with the Charter of Fundamental Rights, and with the Energy Union's "Energy Efficiency first" principle.
Amendment 623 #
Proposal for a regulation
Article 18 – paragraph 4 – subparagraph 3 – point c a (new)
Article 18 – paragraph 4 – subparagraph 3 – point c a (new)
(ca) the quality and contribution of the investment operation to sustainable growth and employment;
Amendment 624 #
Proposal for a regulation
Article 18 – paragraph 4 – subparagraph 3 – point c b (new)
Article 18 – paragraph 4 – subparagraph 3 – point c b (new)
(cb) the contribution of the investment operation to the realisation of InvestEU Programme objectives;
Amendment 627 #
Proposal for a regulation
Article 18 – paragraph 4 – subparagraph 3 – point c c (new)
Article 18 – paragraph 4 – subparagraph 3 – point c c (new)
(cc) the technical and financial contribution to the project;
Amendment 628 #
Proposal for a regulation
Article 18 – paragraph 4 – subparagraph 3 – point c d (new)
Article 18 – paragraph 4 – subparagraph 3 – point c d (new)
(cd) whether the proposed operation addresses the identified market and coordination failures or sub-optimal investment situations.
Amendment 629 #
Proposal for a regulation
Article 18 – paragraph 4 – subparagraph 4
Article 18 – paragraph 4 – subparagraph 4
Each implementing partner shall provide adequate and harmonised information to the project teamCommission in order for it to be able to carry out its risk analysis and prepare the scoreboard.
Amendment 631 #
Proposal for a regulation
Article 18 – paragraph 5
Article 18 – paragraph 5
5. A project team expert shall not assess the due diligence or appraisal relating to a potential financing or investment operation submitted by the implementing partner that has put the expert at the disposal of the Commission. That expert shall also not prepare the scoreboard in relation to those proposals.Where necessary, the Commission may provide assistance to implementing partners in the application of the risk assessment methodology and in the compilation of the scoreboard. It shall ensure that scoring methodology is properly applied and that the scoreboards presented to the Investment Committee are of high quality. The Commission shall, following its compliance and due diligence check, adjust the ratings of the scoreboard on non-financial matters before the scoreboard goes to the Investment Committee
Amendment 632 #
Proposal for a regulation
Article 18 – paragraph 6
Article 18 – paragraph 6
Amendment 633 #
Proposal for a regulation
Article 18 – paragraph 7
Article 18 – paragraph 7
Amendment 634 #
Proposal for a regulation
Article 18 – paragraph 8
Article 18 – paragraph 8
Amendment 641 #
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 additionality requirement referred to in [Article 209(2)(b)] of the [Financial Regulation] and to the requirement, where appropriate, to crowd in private investment referred to in [Article 209(2)(d)] of the [Financial Regulation]; and
Amendment 642 #
Proposal for a regulation
Article 19 – paragraph 1 – point b a (new)
Article 19 – paragraph 1 – point b a (new)
(ba) verify their compliance with the specific additionality requirement set out in Article 10a
Amendment 644 #
Proposal for a regulation
Article 19 – paragraph 2 – subparagraph 1
Article 19 – paragraph 2 – subparagraph 1
The Investment Committee shall meet in fourive different configurations, corresponding to the policy windows referred to in Article 7 (1).
Amendment 651 #
Proposal for a regulation
Article 19 – paragraph 2 – subparagraph 5
Article 19 – paragraph 2 – subparagraph 5
Four members shall be permanent members of all fourive configurations of the Investment Committee. In addition, the fourive configurations shall each have two experts with experience in investment in sectors covered by that policy window. At least one of the permanent members shall have expertise in sustainable investment. The Commission shall assign the Investment Committee members to its appropriate configuration or configurations. The Investment Committee shall elect a chairperson from among its permanent members.
Amendment 671 #
Proposal for a regulation
Article 19 – paragraph 5 – subparagraph 2
Article 19 – paragraph 5 – subparagraph 2
Conclusions of the Investment Committee approving the support of the EU guarantee to a financing or investment operation shall be publicly accessible and shall include the rationale for the approval. The publication shall not contain commercially sensitive information, which nevertheless must be made available upon request to Members of the European Parliament and staff of political groups in a securitised reading room.
Amendment 675 #
Proposal for a regulation
Article 19 – paragraph 5 – subparagraph 3
Article 19 – paragraph 5 – subparagraph 3
The scoreboard shall be publicly available after the signature of a financing or investment operation or sub-project, if applicable. The publication shall not contain commercially sensitive informationbefore the approval of the investment operation. The publication shall not contain commercially sensitive information, which nevertheless must be made available upon request to Members of the European Parliament and staff of political groups in a securitised reading room; or personal data not to be disclosed under the Union data protection rules.
Amendment 689 #
Proposal for a regulation
Article 20 – paragraph 1 – subparagraph 2 a (new)
Article 20 – paragraph 1 – subparagraph 2 a (new)
The InvestEU Advisory Hub shall provide advisory support at a regional and local level to promote projects with a climate, environmental and social impact and in line with the 'Energy Efficiency first' principle. Such support should also include a communication and a project development assistance component to continue building more capacity to develop sustainable projects and to aggregate smaller projects into larger ones.
Amendment 702 #
Proposal for a regulation
Article 20 – paragraph 4
Article 20 – paragraph 4
4. FCommensurate fees may be charged for the services referred to in paragraph 2 to cover part of the costs for providing those services.
Amendment 716 #
Proposal for a regulation
Article 22 – paragraph 4
Article 22 – paragraph 4
4. The Commission shall report on the implementation of InvestEU Programme in accordance with [Articles 241 and 250] of the [Financial Regulation]. For that purpose, the implementing partners shall provide annually the information necessary to allow the Commission to comply with its reporting obligations. As part of the annual reporting, the Commission shall carry out annually, a robust, multi-annual consolidation exercise to identify whether climate expenditure is on track to achieve the 60% target. The Commission shall provide information on the scale and results of support to climate change objectives differentiating between mitigation and adaptation as well as information on the climate contribution of relevant financial instruments, and make this publicly available.
Amendment 718 #
Proposal for a regulation
Article 22 – paragraph 5
Article 22 – paragraph 5
5. In addition, each implementing partner shall submit every six months a report to the Commission on the financing and investment operations covered by this Regulation, broken down by the EU compartment and the Member State compartment by Member State, as appropriate. The report shall include an assessment of compliance with the requirements on the use of the EU guarantee and with the key performance indicators laid down in Annex III to this Regulation. The report shall also include operational, statistical, financial and accounting data on each financing and investment operation and at the compartment, policy window and the InvestEU Fund level. One of those reports shall contain the information the implementing partners shall provide in accordance with [Article 155(1)(a)] of the [Financial Regulation]. The Commission shall compile and assess implementing partners' reports and submit a summary in the form of public annual reports, providing information on the level of implementation of the programme against its objectives and performance indicators, indicating risks and opportunities for the financing and investment operations supported by the InvestEU Programme.
Amendment 722 #
5a. The Commission shall publish on its web portal information on financing and investment operations, including information on expected impacts and benefits of the projects, taking into account the protection of confidential and commercially sensitive information. The web portal shall also provide public access to a registry of eligible counterparts. In accordance with relevant transparency policies and Union rules on data protection and on access to documents and information, the implementing partners and other recipients of Union funds shall pro-actively and systematically make publicly available on their websites information relating to all financing and investment operations covered by this programme, relating in particular to the manner in which those projects contribute to the achievement of the objectives and requirements of this Regulation. Such information shall always take into account the protection of confidential and commercially sensitive information. Implementing partners shall make public Union support in all information, which they publish on financing and investment operations covered by this programme in accordance with this Regulation.
Amendment 732 #
Proposal for a regulation
Article 23 – paragraph 2
Article 23 – paragraph 2
2. By 30 September 20254, the Commission shall carry out an interim evaluation on the InvestEU Programme, in particular on the use of the EU guarantee.
Amendment 738 #
Proposal for a regulation
Article 23 – paragraph 3
Article 23 – paragraph 3
3. At the end of the implementation of the InvestEU Programme, but no later than fourone years after the end of the period specified in Article 1, the Commission shall carry out a final evaluation of the InvestEU Programme, in particular on the use of the EU guarantee.
Amendment 740 #
Proposal for a regulation
Article 24 – paragraph 1
Article 24 – paragraph 1
Audits on the use of the Union funding carried out by persons or entities, including by others than those mandated by the Union institutions or bodies, shall form the basis of the overall assurance pursuant to [Article 127] of the [Financial Regulation]. The guarantee, payments and recoveries under it, and operations under the InvestEU Programme shall be audited by the Court of Auditors. A special report by the Court of Auditors should be issued 18 months after the entry into force of this regulation.
Amendment 746 #
Proposal for a regulation
Annex I – paragraph 1 – point a
Annex I – paragraph 1 – point a
(a) up to EUR 11 500 000 00025% of the overall financial envelope indicated in article 4.1 for objectives referred to in point (a) of Article 3(2);
Amendment 750 #
Proposal for a regulation
Annex I – paragraph 1 – point b
Annex I – paragraph 1 – point b
(b) up to EUR 11 250 000 00020% of the overall financial envelope indicated in article 4.1 for objectives referred to in point (b) of Article 3(2);
Amendment 754 #
Proposal for a regulation
Annex I – paragraph 1 – point c
Annex I – paragraph 1 – point c
(c) up to EUR 11 250 000 00020% of the overall financial envelope indicated in article 4.1 for objectives referred to in point (c) of Article 3(2);
Amendment 760 #
Proposal for a regulation
Annex I – paragraph 1 – point d
Annex I – paragraph 1 – point d
(d) up to EUR 4 000 000 00015% of the overall financial envelope indicated in article 4.1 for objectives referred to in point (d) of Article 3(2).
Amendment 766 #
Proposal for a regulation
Annex I – paragraph 1 – point d a (new)
Annex I – paragraph 1 – point d a (new)
(da) up to EUR 20% of the overall financial envelope indicated in article 4.1. for objectives referred to in point (d new) of Article 3(2).
Amendment 767 #
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 ofshall be limited to the following areas:
Amendment 769 #
Proposal for a regulation
Annex II – paragraph 1 – point 1 – introductory part
Annex II – paragraph 1 – point 1 – introductory part
1. Development of the energy sector, excluding activities related to production, processing, transmission, distribution, storage or combustion of fossil fuels, in accordance with the Energy Union priorities, including security of energy supply, and the commitments taken under the Agenda 2030 and the Paris Agreement, in particular through:
Amendment 770 #
Proposal for a regulation
Annex II – paragraph 1 – point 1 – point a
Annex II – paragraph 1 – point 1 – point a
(a) expansion and acceleration of the generation, deployment, supply or use of clean and sustainable renewable energy;
Amendment 772 #
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, including electricity interconnection (transmission and distribution level, storage technologies);
Amendment 773 #
Proposal for a regulation
Annex II – paragraph 1 – point 1 – point d
Annex II – paragraph 1 – point 1 – point d
(d) production and supply of synthetic fuels from renewable/carbon-neutral sources; alternative fuels sources under the condition of a positive lifecycle impact and efficiency assessment;
Amendment 774 #
Proposal for a regulation
Annex II – paragraph 1 – point 1 – point e
Annex II – paragraph 1 – point 1 – point e
Amendment 776 #
Proposal for a regulation
Annex II – paragraph 1 – point 2 – introductory part
Annex II – paragraph 1 – point 2 – introductory part
2. Development of sustainable transport infrastructures, excluding motorways, expressways and airports, and equipment and innovative technologies in accordance with Union transport priorities and the commitments taken under the Paris Agreement, in particular through:
Amendment 777 #
Proposal for a regulation
Annex II – paragraph 1 – point 2 – point a
Annex II – paragraph 1 – point 2 – point a
(a) sustainable projects supporting development of the TEN-T infrastructure and small-scale projects, including its urban nodes, when targeted to multimodality and zero-emission technologies, sustainable maritime and inland ports, multimodal terminals and their connection to the main networks, as well as cross sectorial projects at those ports and terminals such as waste and water recycling and integrated electricity charging stations for ships when at berth;
Amendment 778 #
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 lowzero-emission urban transport modes, accessibility, air pollution and noise, energy consumption and accidents);
Amendment 779 #
Proposal for a regulation
Annex II – paragraph 1 – point 2 – point c
Annex II – paragraph 1 – point 2 – point c
(c) supporting the renewal and retrofitting of transport mobile assets with the view of deploying lowzero-emission mobility solutions;
Amendment 780 #
Proposal for a regulation
Annex II – paragraph 1 – point 2 – point d
Annex II – paragraph 1 – point 2 – point d
(d) railway infrastructure, other rail projects, andincluding regional cross-border missing links that were dismantled or abandoned in the past and sustainable maritime ports;
Amendment 781 #
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.
Amendment 783 #
(ea) maintenance or upgrades of existing infrastructure assets, in transport and energy sectors, with particular focus on EU long-term transport, energy and climate objectives;
Amendment 786 #
Proposal for a regulation
Annex II – paragraph 1 – point 3 – point c
Annex II – paragraph 1 – point 3 – point c
(c) projects and enterprises in the fields of environmental resource management and cleansustainable technologies;
Amendment 787 #
Proposal for a regulation
Annex II – paragraph 1 – point 3 – point f
Annex II – paragraph 1 – point 3 – point f
(f) climate change actions, including natural hazard disaster risk reduction, climate adaptation and mitigation;
Amendment 788 #
Proposal for a regulation
Annex II – paragraph 1 – point 3 – point g
Annex II – paragraph 1 – point 3 – point g
(g) projects and enterprises that implement circular economy by integrating resource and energy efficiency aspects in the production and product life-cycle, including the sustainable supplyrecycling of primary and secondary raw materials;
Amendment 789 #
Proposal for a regulation
Annex II – paragraph 1 – point 3 – point h
Annex II – paragraph 1 – point 3 – point h
(h) decarbonisation of and substantial reduction of emissions of energy-intensive industries, including large-scale demonstration of CCU innovative low-zero- emission technologies and their deployment.
Amendment 792 #
Proposal for a regulation
Annex II – paragraph 1 – point 5 – point a
Annex II – paragraph 1 – point 5 – point a
(a) research, including research infrastructure and support to academia, product development and innovation projects contributing to the objectives of [Horizon Europe];
Amendment 793 #
Proposal for a regulation
Annex II – paragraph 1 – point 5 – point d
Annex II – paragraph 1 – point 5 – point d
(d) collaboration projects between academia and industry, industry, public enterprises and civil society, including patient and end- user organisations;
Amendment 794 #
Proposal for a regulation
Annex II – paragraph 1 – point 5 – point f
Annex II – paragraph 1 – point 5 – point f
(f) new effectivand improved effective, accessible and affordable healthcare products, including pharmaceuticals, vaccines, medical devices, diagnostics and advanced therapy medicinal products and new antimicrobials and innovative development processes that avoid using animal testing.
Amendment 795 #
Proposal for a regulation
Annex II – paragraph 1 – point 6 – point a
Annex II – paragraph 1 – point 6 – point a
(a) ethical artificial intelligence subject to prior assessment;
Amendment 796 #
Proposal for a regulation
Annex II – paragraph 1 – point 6 – point d
Annex II – paragraph 1 – point 6 – point d
(d) blockchain and other distributed ledger technologies;
Amendment 797 #
Proposal for a regulation
Annex II – paragraph 1 – point 6 – point e
Annex II – paragraph 1 – point 6 – point e
(e) advanceding digital skills;
Amendment 798 #
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 800 #
Proposal for a regulation
Annex II – paragraph 1 – point 7 – point b a (new)
Annex II – paragraph 1 – point 7 – point b a (new)
(ba) female entrepreneurship
Amendment 804 #
Proposal for a regulation
Annex II – paragraph 1 – point 9
Annex II – paragraph 1 – point 9
9. Sustainable Tourism.
Amendment 805 #
Proposal for a regulation
Annex II – paragraph 1 – point 11 – point c a (new)
Annex II – paragraph 1 – point 11 – point c a (new)
(ca) promotion of gender equality;
Amendment 806 #
Proposal for a regulation
Annex II – paragraph 1 – point 11 – point h
Annex II – paragraph 1 – point 11 – point h
(h) innovative health solutions, including e-health, health services and new care models;
Amendment 807 #
Proposal for a regulation
Annex II – paragraph 1 – point 12
Annex II – paragraph 1 – point 12
Amendment 814 #
Proposal for a regulation
Annex III – point 3 – point 3.2
Annex III – point 3 – point 3.2
3.2 Investment supporting climate objectives, detailed per policy window and category, as well as share of climate relevance;
Amendment 817 #
Proposal for a regulation
Annex III – point 3 – point 3.3 a (new)
Annex III – point 3 – point 3.3 a (new)
3.3a Absolute and relative greenhouse gasses emission
Amendment 818 #
Proposal for a regulation
Annex III – point 4 – point 4.2
Annex III – point 4 – point 4.2
4.2 Energy: Number of households with improved energy consumption classification, number of households renovated to NZEB and passive house standard;
Amendment 819 #
Proposal for a regulation
Annex III – point 4 – point 4.2 a (new)
Annex III – point 4 – point 4.2 a (new)
4.2a Energy: energy saved
Amendment 820 #
Proposal for a regulation
Annex III – point 4 – point 4.2 b (new)
Annex III – point 4 – point 4.2 b (new)
4.2b Energy: absolute and relative greenhouse gasses emission
Amendment 821 #
Proposal for a regulation
Annex III – point 4 – point 4.4
Annex III – point 4 – point 4.4
4.4 Transport: Investment mobilised in TEN-T of which: TEN-T core, small-scale projects, other;
Amendment 822 #
Proposal for a regulation
Annex III – point 4 – point 4.4 a (new)
Annex III – point 4 – point 4.4 a (new)
4.4a Transport: absolute and relative greenhouse gasses emission
Amendment 823 #
Proposal for a regulation
Annex III – point 5 – point 5.2 a (new)
Annex III – point 5 – point 5.2 a (new)
5.2a Contribution to tackling Global Societal Challenges within Horizon Europe: 'Health and well-being', 'Inclusive society', 'Resilient society', 'Sustainable food', 'Natural resources and the Environment';
Amendment 824 #
Proposal for a regulation
Annex III – point 6 – introductory part
Annex III – point 6 – introductory part
6. Gender disaggregated data on SMEs
Amendment 825 #
Proposal for a regulation
Annex III – point 7 – introductory part
Annex III – point 7 – introductory part
7. Gender disaggregated data on Social Investment and Skills