3 Amendments of César LUENA related to 2021/0191(COD)
Amendment 79 #
Proposal for a regulation
Recital 11 a (new)
Recital 11 a (new)
(11a) As Regulation (EU) 2020/852 is based on criteria at activity level, while bond financing is usually at project level, issuers will also need to align projects under the European green bond standard with activity-based screening criteria. For that purpose, and in addition to drafting the taxonomy delegated acts, the Commission should update the usability guide for the European green bond standard from the Commission´s Technical Expert Group on Sustainable Finance (TEG), where needed. Those will be useful in the situation where technical screening criteria have not yet been developed for a specific sector or a specific environmental objective, or where the developed technical screening criteria are considered not directly applicable due to the innovative nature, complexity, or location of the green projects.
Amendment 100 #
Proposal for a regulation
Recital 25
Recital 25
(25) It is necessary to avoid divergent applications of this Regulation by national competent authorities. At the same time, it is necessary to lower transaction and operational costs of external reviewers, to strengthen investor confidence and to increase legal certainty, and to avoid the creation of monopolistic market structures as high issuance costs could act as barriers to issuing green bonds. It is therefore appropriate to give ESMA general competence for the registration and ongoing supervision of registered external reviewers in the Union. Entrusting ESMA with the exclusive responsibility for those matters should ensure a level playing field in terms of registration requirements and on-going supervision and eliminate the risk of regulatory arbitrage across Member States. At the same time, such exclusive responsibility should optimise the allocation of supervisory resources at Union level, thus making ESMA the centre of expertise and enhancing the efficiency of supervision.
Amendment 106 #
Proposal for a regulation
Recital 37 a (new)
Recital 37 a (new)
(37a) This Regulation does not cover EU social bonds, but issuers should nevertheless be required to respect minimum social safeguards laid down in Regulation (EU) 2020/852. In light of the significant increase in the issuance of sustainability bonds over recent years, as well as the issuance of green bonds characterised by a social element, it would be desirable to have an extension of the scope of this Regulation in the future, which could facilitate a potential increase in issuance.