23 Amendments of Bogdan RZOŃCA related to 2019/2126(INI)
Amendment 10 #
Draft opinion
Paragraph 1
Paragraph 1
1. Highlights the importance of the activities of the European Investment Bank (EIB) to increase the current levels of investment in the EU, which are below historical averages and insufficient to fulfil the EU’s sustainability, social and innovation ambitions; stresses that in order to achieve these ambitions, more risk- takingincreased activity by the EIB may be necessary in parallel to increasing equity and the development of expertise in innovative funding instruments; calls for adequate capitalisation of the EIB to allow for the use of innovative instruments in the financing of projects with substantial potential sustainability, social and innovation gains;
Amendment 16 #
Draft opinion
Paragraph 2
Paragraph 2
2. WelcomNotes the commitment by the Commission President-elect to turn sections of the EIB into a climate bank, and the commitments from the EIB President to increase the share of EIB financing for climate action and environmental sustainability to at least 50 % by 2025 and to align all EIB financing activities with the goals of the Paris Agreement by the end of 2020in a timeframe which does not undermine the EIB's other commitments; calls on the Commission to present an ambitious new European Sustainable Investment Plan, includingtaking into account the real needs of each Member State and region and the additional financial commitments, as soon as possible, and to fully support the EIB in broadening its sustainability ambitions; recalls, at the same time, that the EIB was set up to tackle economic and social inequalities in the EU; stresses, in this context, the EIB's crucial role in the smooth functioning of the future Just Transition Fund;
Amendment 30 #
Draft opinion
Paragraph 3
Paragraph 3
3. Stresses that in order for the EIB to become the EU’s climate bank, it should stop all financial support toNotes the decision taken by the Board of Directors of the EIB to end financing for most fossil fuel energy projects byfrom the end of 2020,1 and align to gradually its activities, including EIF operations, with the Paris Agreement’s goals; calls on the EIB to make decarbonisation commitments a condition for companies to receive EIB supportncrease the share of its financing dedicated to climate action and environmental sustainability, to reach 50 % of its operations as of 2025; calls on the EIB to apply the EU taxonomy framework, once it has been formally adopted, as a benchmark for its climate and environmental investments; calls on the EIB to develop a credible methodology to measure, disclose and achieve ‘Paris alignment’ of its financing operations;
Amendment 34 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Reiterates the need to reduce the inequalities inimprove the geographical distribution of EIB financing, given that 57% went to six Member States in 2018; calls for a fair and transparent geographical distribution of projects and investment, with a special focus on less- developed regions; calls for an enhanced geographical distribution of projects and investments; calls for the EIB to address systemic shortcomings that prevent certain regions or countries from taking full advantage of the EIB's financial activities considering the market and demand driven nature of EIB financing;
Amendment 43 #
Draft opinion
Paragraph 4
Paragraph 4
4. Stresses that the key quantitative target of the European Fund for Strategic Investments (EFSI) of mobilising EUR 500 billion of additional private and public investment should be replaced by measurable targets on sustainability and social impact in future investment strategies; calls on the EIB to increase the share of EFSI and InvestEU financing to projects that substantially contribute to the EU’s sustainability and social objectives; calls on the Commission to ensure that InvestEU’s sustainability-proofing methodologies are fully consistent with the EU’s sustainability objectives; The methodologie should reflect also differences between InvestEU windows in order to enable implementing partners effective usage of the EU guarantee;
Amendment 43 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Calls on the EIB to greatlyfor adequate support to strengthen the arrangements for providing technical assistance and financial expertise to local and regional authorities before project approval, in order to improve accessibility and involve all Member States; underlines that projects are selected based on economic, environmental, technical and most of all financial merits;
Amendment 46 #
Draft opinion
Paragraph 4
Paragraph 4
4. Stresses that the key quantitative target of the European Fund for Strategic Investments (EFSI) of mobilising EUR 500 billion of additional private and public investment should be replaced by measurable targets on sustainability and social impact in future investment strategies; calls on the EIB to increase the share of EFSI and InvestEU financing to projects that substantially contribute to the EU’s sustainability and social objectives; calls on the Commission to ensure that InvestEU’s sustainability-proofing methodologies are fully consistent withtake into account the EU’s sustainability objectives;
Amendment 47 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
Amendment 50 #
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Welcomes the EIB's decision to continue to support cohesion and convergence policy objectives, including in the form of structural projects aimed at mitigating the effects of inequality, for example in countries and regions still facing development difficulties, including those resulting from the EU's new climate policy; calls for the EIB's priorities to be broadened to include effective cohesion policy;
Amendment 74 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls for a detailed roadmap to be drawn up in 2020 to reach the overall target of 50% climate lending by 2025, as well as guarantees regarding the climate neutrality of the remaining loans, following an open and transparent public consultation procesthe EIB to extensively inform stakeholders and the wider audience on the manner in which the EIB intends to reach the overall target of 50% climate lending by 2025, as well as how the EIB will fully take on board the climate considerations of the remaining loans;
Amendment 78 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls for a strengtheningthe thorough application of the eligibility criteria for climate action in order to avert the risk of investments not resulting in significant reductions in greenhouse gases (GHG), in particular with regard to bioenergy, low-carbon gases, carbon capture and storage and compensation programmes; considers that a general anti-abuse provision should support all EIB operations and be included in its declaration on environmental and social standards, which needs to be reviewed in 2020 and aligned with the 1.5°C global warming objective;
Amendment 81 #
Motion for a resolution
Paragraph 10
Paragraph 10
Amendment 89 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Is of the opinion that the EIB should requirsupport and stimulate its intermediary clients to disclose their exposure to fossil fuels, and should apply restrictions to heavily exposed intermediaries; expects that, by the end of 2020, all intermediaries will have a decarbonisation plan, which is indispensable for their financing to continueevelop products that e.g. incentivise energy efficiency, renewable energy investments or circular, low carbon investments; believes the EIB should continue “greening” its SME portfolio e.g. earmarking higher shares to climate related projects;
Amendment 97 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Is of the opinion that, in line with best practices in the commercial banking sector3 ,Welcomes the fact that EIB financing ishould be subject to ambitious scientific objectives and commitments, with a view to phasing out its support to clients whose activities lead to significant GHG emissions; _________________ 3 Crédit Agricole has undertaken to end support for undertakings which develop or plan to develop their activities in the coal sector. Crédit Agricole’s zero tolerance policy applies to all enterprises which develop or plan to develop their activities in the coal sector, ranging from extraction and energy production, to trade and transport.
Amendment 103 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Welcomes the new EIB energy lending policy and the example it sets for other banks; regretwelcomes that exceptions are applicable to the approval of gas projects until the end of 2021 and that support for gas projects planned for the transport of low-carbon gases is set to continue; calls for this policy to be reviewed in the medium term (by the start of 2022) to close the gaps in gas infrastructure to bring it in line with the European Sustainable Finance Taxonomy and the European Green Pact, and to be consistent with the development of appropriate new external actions in the EU;
Amendment 107 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Insists that the EIB urgently and fully implement the principle of energy efficiency in all its energy lending, taking into account the impact of energy efficiency on future demand and its contribution to energy security;
Amendment 111 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls on the EIB to make theLooks forward to the EIB's review of its transport policy a key priorityto be announced later this year; calls for a new transport financing policy to decarbonise the EU transport sector by 2050;
Amendment 118 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Reminds the EIB that biodiversity protection is a key element of adaptation to climate change and that the restoration of ecosystems is the only proven technology when it comes to negative emissions; calls on the EIB to commit to ending the financing of projects which contribute to the loss and degradation of biodiversity and ecosystems, and to increase substantially its fundingsystematically integrate biodiversity externalities into its economic appraisal and to substantially increase its commitment to achieve the EU’s objectives in this area, in particular the objective of zero net deforestation and the objectives of marine and coastal protection;
Amendment 159 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Urges the EIB, the largest multilateral lender in the world, to maintain its leading role in future EU financing mechanisms for third countries; opposnotes the recent initiatives to encourage the EIB to be more active in defence and security, migration management and border control;
Amendment 171 #
Motion for a resolution
Paragraph 26
Paragraph 26
Amendment 176 #
Motion for a resolution
Paragraph 26 a (new)
Paragraph 26 a (new)
26 a. Welcomes the EIB's strong dedication to restrict its financing to projects that respect human rights; strongly supports the EIB's commitments in its Environmental and Social Framework not to tolerate any reprisals, threats, intimidation, harassment, or violence against any human rights defenders, environmental activists or indigenous people advocates voicing their opinion regarding a project financed by the EIB;
Amendment 187 #
Motion for a resolution
Paragraph 29
Paragraph 29
29. Welcomes the fact that, as recommended in the latest Parliament reports, public summaries are now to be made of Management Board meetings; stresses the need to publish the content of meetings of all the and of the EFSI operation scoreboard for projects supported by the EFSI guarantee, understands however that certain limits apply with regard to document transparency to ensure protection of confidential information provided by EIB’'s governing bodies systematicallyclients and project partners;
Amendment 220 #
Motion for a resolution
Paragraph 39
Paragraph 39