BETA

4 Amendments of Elisabetta GUALMINI related to 2021/0191(COD)

Amendment 278 #
Proposal for a regulation
Recital 11
(11) Article 4 of Regulation (EU) 2020/852 requires Member States and the Union to apply the criteria set out in Article 3 of that Regulation to determine whether an economic activity qualifies as environmentally sustainable for the purposes of any measure setting out requirements for financial market participants or issuers in respect of financial products or corporate bonds that are made available as environmentally sustainable. It is therefore logical that the technical screening criteria referred to in Article 3, point (d), of Regulation (EU) 2020/852 should determine which fixed assets, expenditures and financial assets can be financed by the proceeds of European green bonds. In view of the expected technological progress in the field of environmental sustainability, the delegated acts adopted pursuant to Articles 10(3), 11(3), 12(2), 13(2), 14(2) or 15(2) of Regulation (EU) 2020/852 are likely to be reviewed and amended over time. Regardless of such changes, in order to provide legal certainty to issuers and investors and prevent amendments to the technical screening criteria from having a negative impact on the price of European green bonds that have already been issued, issuers should be able to apply the technical screening criteria applicable at the moment the European green bond was issued when allocating the proceeds of such bonds to eligible fixed assets or expenditures, until maturity of the bond. To ensure legal certainty for European green bonds whose proceeds are allocated to financial assets, it is necessary to clarify that the underlying economic activities funded by those financial assets should comply with the technical screening criteria applicable at the moment the financial assets were created. Where the relevant delegated acts are amended, the issuer should allocate proceeds by applying the amended delegated acts within five years.
2022/01/20
Committee: ECON
Amendment 331 #
Proposal for a regulation
Recital 37 a (new)
(37a) The issuance of European green bonds could entail additional costs, particularly during the initial implementation of the Regulation, and this could have an impact, in particular for small and medium-sized enterprises. In order to offset some of these costs and to fully support the adoption and full deployment of European green bonds, the Commission should create specific financial or other incentives, such as the use of public-private guarantee schemes provided at a European level, including ones accompanied with tax incentives. These incentives, created together with the other national and European institutions, should be in keeping with the Strategy for financing the transition to a sustainable economy and should become a key component in establishing a more inclusive sustainable financial framework, while promoting the development and standardisation of practices in connection with the European green bond.
2022/01/20
Committee: ECON
Amendment 381 #
Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 2
Where the delegated acts adopted pursuant to Articles 10(3), 11(3), 12(2), 13(2), 14(2) or 15(2) of Regulation (EU) 2020/852 are amended following the issuance of the bond, the issuer shall allocate bond proceeds to the uses referred to in the first subparagraph by applying the amended delegated acts within five years after their entry into application.
2022/01/20
Committee: ECON
Amendment 389 #
Proposal for a regulation
Article 7 – paragraph 2 – subparagraph 3
Where the delegated acts adopted pursuant to Articles 10(3), 11(3), 12(2), 13(2), 14(2) or 15(2) of Regulation (EU) 2020/852 are amended following the creation of the debt referred to in the first subparagraph, the issuer shall allocate bond proceeds to the debt referred to in the first subparagraph by applying the amended delegated acts within five years after their entry into application.deleted
2022/01/20
Committee: ECON