13 Amendments of Pedro MARQUES related to 2021/2063(INI)
Amendment 19 #
Motion for a resolution
Citation 15 a (new)
Citation 15 a (new)
— having regard to the ECB economy-wide climate stress-test of September 2021,
Amendment 52 #
Motion for a resolution
Recital E a (new)
Recital E a (new)
E a. whereas 150 banks (<10% of total banks) account for 30% of total exposures to climate transition risks and physical risks and account for 60% of total emissions in the Eurozone; whereas, without orderly and rapid action on climate change, these banks suffer significant transition risks and would be five times more vulnerable than other banks to defaults in their portfolio as a result of climate change;
Amendment 58 #
Motion for a resolution
Recital E b (new)
Recital E b (new)
E b. whereas the main physical risks identified in the ECB's economy-wide climate stress test are the risks of wildfires, which is unequally distributed in the Eurozone; whereas transition risks due to exposures in high-emitting industries are more equally spread in the Eurozone;
Amendment 62 #
Motion for a resolution
Recital E c (new)
Recital E c (new)
E c. whereas current price-increases due to gas shortages indicate the importance of the environmental transition to maintain price stability;
Amendment 124 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Welcomes the ECB’s substantially eased monetary policy stance in response to the COVID-19 crisis, which includes the introduction of the pandemic emergency purchase programme (PEPP), the relaxation of the eligibility and collateral criteria and the offer of new longer-term refinancing operations; acknowledges the positive impact of this response on the economic situation of the euro area; expects that the ECB will retain its support as long as it is needed; welcomes, moreover, the ECB’s decision to maintain instruments, such as forward guidance, asset purchases and longer-term refinancing operations, as an integral part of its toolkit;
Amendment 160 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Calls on the ECB to study the possibility of using unconventional policy measures that have the potential to better fulfil inflation targets;
Amendment 174 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes the ECB’s decision on a new symmetric inflation target of 2 % over the medium term and its commitment to maintain a persistently accommodative monetary policy stance in order to meet its inflation target; notes with concern that inflation rose to a decade-high 3 % in August 2021; calls on the ECB to evaluate and address this upwardreminds that inflation remained well below the 2% target for several years in the recent past; calls on the ECB to closely monitor these trends and its consequences more attentively;
Amendment 193 #
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13 a. Considers that the ECB needs to use all of the tools at its disposal in order to fight and mitigate climate related risks for our economy including a greening of its portfolio assets and of its refinancing operations;
Amendment 241 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17 a. Considers that in its current form, the principle of market neutrality doesn't factor in negative externalities; deems that this therefore goes against the Treaty principle to ensure an "efficient allocation of resources" and excessively favours high-emitting sectors; Calls on the ECB to review its principle of market neutrality as soon as possible and replace it with a market efficiency principle that ensures the efficient allocation of resources over a long-term horizon;
Amendment 251 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Regrets the fact that green bond issuance in the EU represents only 2.6 % of the EU’s total bond issuance, but welcomes the creation of an EU Green Bond Standard as a way to increase the EU's dominance in this market; calls on the ECB to support the EU Green Bond Standard by creating space for their purchase in its asset portfolio;
Amendment 268 #
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Considers additional capital requirements and concentration limits for exposures to high emitting sectors an effective way to address the significant transition risks found in the ECB's economy-wide climate stress test;
Amendment 292 #
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21 a. Calls on the ECB to explore ways of strengthening the international role of the euro; notes that making the euro more attractive as a reserve currency will further enhance its international use; stresses that the creation of a well- designed European safe asset could facilitate financial integration and help mitigate the negative feedback loops between sovereigns and the domestic banking sectors;
Amendment 295 #
Motion for a resolution
Paragraph 21 b (new)
Paragraph 21 b (new)
21 b. Underlines that strengthening the role of the euro requires the deepening and completion of the European economic and monetary union, including the creation of instruments of the nature of Next Generation EU, which enhance the EU budget;