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14 Amendments of Markus FERBER related to 2018/2007(INI)

Amendment 5 #
Markus FERBER
Motion for a resolution
Citation 5
— having regard to the fact that prudential frameworks, in particular Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II), and accounting rules for investors discourage a long-term approach, and that prudential rules require a level of capital proportional to the level of risk over a one-year horizon and only take financial risk into consideration for the calculation of capital requirements,deleted
2018/03/02
Committee: ECON
Amendment 73 #
Markus FERBER
Motion for a resolution
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 reflecalways sufficiently integrated into prices and that this provides a market advantage to unsustainable and short-termist geared finance; stresses that a political and regulatory framework to govern; emphasises that the current European legal framework does not oppose the development of market-based solutions for sustainable finance is overdueproducts;
2018/03/02
Committee: ECON
Amendment 99 #
Markus FERBER
Motion for a resolution
Paragraph 3
3. Emphasises the massive systemic risks that stranded carbon assets might represent to financial stability; stresses the need for accurathe identification and mandatory reporting of these assets as essential to the orderly transition to climate-positive investments; calls for the introduction of ‘carbon stress tests’ for banktermination of all the risks in line with the existing regulatory provisions and other financial intermediaries to determine the risks related to such stranded asset existing risk management systems;
2018/03/02
Committee: ECON
Amendment 124 #
Markus FERBER
Motion for a resolution
Paragraph 5
5. Calls on the Commission to lead a multi-stakeholder process to establish by the end of 2019 a robust and credible green taxonomy, including a ‘GNotes that there is currently no workable definition of such concepts as 'green Ffinance Mark’, through a legislative initiativeing' or 'sustainability in finance';
2018/03/02
Committee: ECON
Amendment 153 #
Markus FERBER
Motion for a resolution
Paragraph 7
7. WelcomesNotes that the recent inclusion of sustainability issues in the PRIIPs and STS Regulations, as well as in Shareholders Rights Directive and the NFRD; applaudcknowledges the inclusion in the IORPs Directive of recognition of stranded assets; asks for the transversal integration of sustainable finance criteria in all legislation related to the financial sector;
2018/03/02
Committee: ECON
Amendment 164 #
Markus FERBER
Motion for a resolution
Paragraph 8
8. Asks the Commission to adopt a regulatory strategy aimed inter alia at measuring sustainability risks within the framework of capital adequacyStresses that only risk aspects should play a ruoles; stresses that when laying down capital adequacy rules must be based on and fully reflect demonstrated risks; aims to initiate an EU pilot project within the next annual budget to begin developing methodological benchmarks for that purposeand that no extraneous criteria should be brought into play;
2018/03/02
Committee: ECON
Amendment 181 #
Markus FERBER
Motion for a resolution
Paragraph 9
9. Emphasises that disclosure is a critical enabling condition for sustainable finance; applauds the work of the Taskforce on Climate-related Financial Disclosure (TCFD) and calls on the Commission and the Council to explicitly endorse its recommendations; urges the Commission to include mandatory disclosure in the framework of the revision of the Accounting Directive and the NFRD;deleted
2018/03/02
Committee: ECON
Amendment 198 #
Markus FERBER
Motion for a resolution
Paragraph 10
10. Insists that fiduciary duty should be extended to encompass a mandatory ‘two-way’ integration process whereby asset managers are obliged to consider ESG factors and clients are asked about their timeframe and sustainability preferences;deleted
2018/03/02
Committee: ECON
Amendment 231 #
Markus FERBER
Motion for a resolution
Paragraph 14
14. Notes the urgent need for a uniform standard for green bonds; insists that such green bonds should include periodic reporting on the environmental impacts of the underlying assets; underlines that green bonds should also respect negative criteria and must not include any form of fossil fuel asset, nuclear power or investment in aviation infrastructurecurrent lack of a unified standard for green bonds;
2018/03/02
Committee: ECON
Amendment 246 #
Markus FERBER
Motion for a resolution
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);deleted
2018/03/02
Committee: ECON
Amendment 253 #
Markus FERBER
Motion for a resolution
Paragraph 16
16. Calls on the Commission to establish a legally binding labelling system for personal bank accounts, investment funds, insurance, and financial products indicating their level of conformity with the Paris Agreement and ESG goals;deleted
2018/03/02
Committee: ECON
Amendment 268 #
Markus FERBER
Motion for a resolution
Paragraph 17
17. Intends to further clarifys concerned at the proposal to change the mandate of the ESAs sto 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 recommendationsaspects, thereby distracting from their core mandate of ensuring financial stability;
2018/03/02
Committee: ECON
Amendment 281 #
Markus FERBER
Motion for a resolution
Paragraph 18
18. Notes that the EIB has a mixed record on climate action; insists that the EIB should only agree to future lending that is compatible with a 1.5 °C climate limit;deleted
2018/03/02
Committee: ECON
Amendment 301 #
Markus FERBER
Motion for a resolution
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 as a pilot for establishing a future sustainability taxonomy;deleted
2018/03/02
Committee: ECON
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