Activities of Eero HEINÄLUOMA related to 2021/2203(INI)
Shadow reports (1)
REPORT on the financial activities of the European Investment Bank – annual report 2021
Amendments (53)
Amendment 2 #
Motion for a resolution
Citation 24 a (new)
Citation 24 a (new)
— having regard to the EIB Group Operational Plan 2022- 2024, published on 27 January 2022,
Amendment 3 #
Motion for a resolution
Citation 25 a (new)
Citation 25 a (new)
— having regard to the EIB's Ukraine Solidarity Urgent Response, adopted on 4 March 2022,
Amendment 4 #
Motion for a resolution
Citation 30 a (new)
Citation 30 a (new)
— having regard to the Commission communication of 8 March 2022 entitled ‘REPowerEU: Joint European Action for more affordable, secure and sustainable energy’ (COM(2022)108),
Amendment 14 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas the coronavirus pandemic was a severe global economic shock; whereas the EU recovery was underway;
Amendment 16 #
Motion for a resolution
Recital A b (new)
Recital A b (new)
A b. whereas Russia attacked Ukraine on 24 February 2022, creating a humanitarian crisis in Ukraine and fundamentally impacting the economic and security situation in the EU and its neighbourhood; whereas the war has created further economic shocks;
Amendment 20 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Takes note of the Investment Report 2021/2022 and the EIB Group Operational Plan 2022-2024; welcomes the focus on the EU’s long-term challenges of climate change, social cohesion and digital transformation; underlines, however, that the illegal Russian war in Ukraine has created a humanitarian crisis in Ukraine and fundamentally impacted the economic and security situation in the EU and its neighbourhood, which needs to be reflected in the EIB's activities and investment plans;
Amendment 24 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Welcomes in this regard, the EIB's Ukraine Solidarity Urgent Response package totalling €668 million, and the rapid disbursement of funds; highlights the importance of coordinated efforts in the response to the Ukraine crisis; believes that the EIB will also play an important role in the reconstruction efforts, which can begin immediately after the war ends;
Amendment 25 #
1 b. Notes that the EIB ceased its operations in Russia following the illegal annexation of Crimea in 2014; expects the EIB furthermore to halt the involvement of any Russian direct or indirect partners involved in investment projects;
Amendment 28 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Calls on the Member States as shareholders for an increase in the EIB’s capitalisation to enable more long-term loans and innovative instruments to finance projects with great potential for sustainability, social and innovation gains while maintaining its actual high credit rating level;
Amendment 35 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Applauds the timeliness of the European Guarantee Fund to help mitigate the negative social and economic impacts of the COVID-19 pandemic; regrets however, the lack of transparency around the Fund; notes that without transparency regarding its final beneficiaries, it is difficult to draw conclusions about the Fund's impact on the European economy; calls, therefore, for a thorough assessment of the Fund, evaluating to what extent the EIB's involvement brought added-value and to what extent the Fund delivered on its objectives; calls for the assessment to be made public;
Amendment 42 #
Motion for a resolution
Subheading 1 a (new)
Subheading 1 a (new)
Energy security
Amendment 46 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
Amendment 48 #
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Notes that enhancing EU energy security is compatible with the EIB's role as a climate bank, as well as, the aim to reduce energy poverty, which is becoming especially acute due to rapidly rising energy and fuel prices; notes that the current high energy prices also impact SMEs and may have a negative impact on their competitiveness; invites the EIB to consider if current levels of support for SMEs is enough in the context of high energy prices and rising costs of other raw materials;
Amendment 55 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes the fact that 43 % of lending in 2021 was climate and environment related and applauds the intention to meet the climate lending target in 2022; underlines that the climate transition must be inclusive and fair; calls, in this regard, on the EIB to leverage its lending, financial instruments, technical assistance and advisory services to support people and regions facing socioeconomic challenges deriving from the transition towards a carbon-neutral economy; stresses that the Climate Bank Roadmap (CBR) alone is not enough to ensure alignment with the objective of the Paris Agreement of limiting global warming to 1.5°C; calls for an immediate halt to carbon markets and offsetting and and ensuring a just transition; calls for all action plans for the implementation of the CBR to be made public;
Amendment 70 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Expresses, in view of the upcoming review of the energy lending policy, its full support for the statement of President Hoyer: ‘We believe that we have a mission to concentrate on sustainability and achieving the Paris goals with the means of a long-term investor institution.[...] Therefore I don’t see a change in our energy lending policy’; calls for the EIB to retain the possibility to apply stricter criteria than the EU taxonomy and finance fossil-free energy only, and in particular to exclude financing for so- called low-carbon gas, especially for district heating, grey or blue hydrogen and forest biomassnotes, however, that the exclusion of gas does not allow the EIB to participate in PCIs or in additional gas diversification or storage investments in the EU, as called for by the Commission in the REPowerEU Communication; notes that there is an on-going debate regarding the EU taxonomy and financing fossil-based energy;
Amendment 79 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Regrets the delays in the transport lending policy review; expects a proposal fully aligned with the 1.5°C target of the Paris Agreement; expects no new loans to be granted that hinder transportsupport the decarbonisation orf transport and the transition towards zero emission mobility;
Amendment 86 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Welcomes the updated ESSF standard 4 and calls for its diligent implementation; welcomes the efforts made to strengthen biodiversity risk assessment and due diligence; is concerned, however, at the use of outdated dataexpects the data used to be up to date; expects the EIB to comply with Articles 11 and 191 TFUE and to stop disbursing funds, and, if necessary, withdraw them, if there is evidence or a serious risk of adverse impacts is formally established;
Amendment 88 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Acknowledges the challenges and progress achieved during the implementation of the Natural Capital Financing Facility; calls for an independent public evaluation embedded in a broader assessment of supporting ecosystem and biodiversity restoration;
Amendment 94 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls for the EIB to only supportNotes that Ukraine and Russia are major producers of food crops including wheat, corn and barley; notes that the war has severely impacted the Ukrainian agriculture sector; notes further that Russia and Belarus are major producers of fertilisers; regrets that the war may have major spill over effects on cross- border supply chains, food and fertiliser prices and food security in the EU and globally; Calls for the EIB to support food security and sustainable agriculture and natural resource management projects that respect planetary boundaries; calls for a ban on supporting all forms of industrial farming and farming practices that do not comply with established animal welfare standards in existing EU legislation;
Amendment 99 #
Motion for a resolution
Subheading 4
Subheading 4
Social responsibility, health and gender
Amendment 100 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes the inclusion of labour rights in ESSF standard 8; regrets, however, its non-binding nature as regards supply-chain workers; calls on the EIB to ensure that labour rights are better accounted for in its operations through the inclusion of contractual clauses requiring promoters to assess labour risks;
Amendment 107 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls on the EIB to collectsystematically collect and make publicly available gender- disaggregated data; urges the EIB to assess the gender impact of projects inside and outside the EU, and to report on the results of its assessments;
Amendment 109 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Stresses that the coronavirus pandemic has put economic and social cohesion under unprecedented strain, resulting in rising inequalities across the EU and globally; notes that the Ukraine war has created an additional economic shock; underlines that high inflation as well as rising energy costs, fuel costs and food prices disproportionately affect the most disadvantaged households in society; calls, in this regard, on the EIB to contribute towards supporting an inclusive recovery in the post-pandemic context through investments in the social sector, including energy efficient social housing, education, health, and skills;
Amendment 111 #
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16 b. Notes that the coronavirus pandemic has disproportionately affected women; highlights the need to step up lending to female-led SMEs to promote a gender equal recovery;
Amendment 112 #
Motion for a resolution
Paragraph 16 c (new)
Paragraph 16 c (new)
16 c. Underlines the role of the EIB in contributing to the fulfilment of European priorities; expects the Bank to support projects that deliver on the implementation of the European Pillar of Social Rights, the Sustainable Development Goals and the social recommendations identified in the country specific recommendations under the European Semester;
Amendment 113 #
Motion for a resolution
Paragraph 16 d (new)
Paragraph 16 d (new)
16 d. Welcomes that the EIB has played a key role in supporting the EU’s response to the health crisis resulting from the coronavirus pandemic; calls on the EIB to continue investments into curbing the long-term negative impacts of the pandemic and enhancing preparedness for future pandemics, notably though investments in public healthcare systems, as well as, research such as vaccine development;
Amendment 114 #
Motion for a resolution
Paragraph 16 e (new)
Paragraph 16 e (new)
16 e. Calls on the EIB to attach greater importance to projects supporting the acquisition of skills required in a modern knowledge-based economy, in particular, for employees in sectors requiring significant adjustment and requalification; acknowledges that a skilled workforce can promote further investment into the EU;
Amendment 115 #
Motion for a resolution
Paragraph 16 f (new)
Paragraph 16 f (new)
16 f. Welcomes the EIB's commitment to invest in social and affordable housing as part of its urban lending; calls for the EIB to ensure projects contribute to improving energy efficiency, thereby tackling energy poverty and supporting the just transition towards a carbon- neutral economy;
Amendment 116 #
Motion for a resolution
Paragraph 16 g (new)
Paragraph 16 g (new)
16 g. Notes that the coronavirus pandemic has had negative impacts on children’s education and well-being across the globe; welcomes the EIB’s investment in education, as it helps to fight poverty and inequalities, boosts economic growth and improves gender equality; reiterates its call on the EIB to increase its investment in education to help mitigate the severe impacts of the coronavirus crisis on education systems globally;
Amendment 121 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Expresses its support for EIB Global; expects full alignment of investments in non-EU countries with intra-EU lending and EU external action policies; calls for public consultation on the strategies linked to EIB Global with a particular focus on the role of recipient countries and specific chapters on human rights due diligence;
Amendment 123 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17 a. Acknowledges that the EIB can play a key role in supporting the EU’s strategic interests on the global stage, notably as an implementing partner in the Global Gateway initiative; calls on the EIB to ensure its operations outside the Union contribute to achieving the EU’s policy priorities;
Amendment 128 #
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17 b. Regrets the lack of information available on EIB Global, notably as regards to its concrete financing plans and policy orientations;
Amendment 129 #
Motion for a resolution
Paragraph 17 c (new)
Paragraph 17 c (new)
Amendment 130 #
Motion for a resolution
Paragraph 17 d (new)
Paragraph 17 d (new)
17 d. Underlines the importance of private sector development in achieving tangible and lasting development impacts; calls, in this regard, on the EIB to place greater emphasis on additionality and crowding in of private investment and domestic resource mobilisation in less developed countries;
Amendment 131 #
Motion for a resolution
Paragraph 17 e (new)
Paragraph 17 e (new)
17 e. Underlines that local presence is a prerequisite for successful financing operations; notes the EIB’s intention to increase its presence on the ground by establishing hubs and representative offices outside of the Union; calls on the EIB to deepen relationships with EU delegations, increase the number of staff on the ground and strengthen their technical skills, including expertise on human rights and gender equality; expects a concrete human resources plan in the course of 2022 for the implementation of EIB global;
Amendment 132 #
Motion for a resolution
Paragraph 17 f (new)
Paragraph 17 f (new)
17 f. Underlines that development investments which involve women and take their needs into account are more effective and sustainable; calls on the EIB to ensure its advisory and technical assistance is equipped to advance gender equality and inclusive development, notably by employing gender specialists;
Amendment 135 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Regrets that the new ESSF includes no significant improvement in human rights protection or procedures to prevent human rights violations; calls for this to be addressed in the statement on human rights; is very concerned that in some cases, the EIB has continued to disburse loans despite clearexpresses its concern about allegations regarding human rights abuses in connection to projects financed by the EIB; expects the EIB to through its internal and external assessment procedures to determine whether it has been the case; reiterates its calls on the EIB to strengthen its human rights abusespolicy;
Amendment 148 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Is very concerned by the decline of transparency at the EIB:, namely the decline in publicly available project information; in 2010, 96.1 % of all projects were published three weeks before Board approval, falling to only 60 % in 2020; calls for more transparency and accountability, also towards EU institutions, in particular Parliament;
Amendment 152 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. ConsiderNotes the new transparency policy (TP) a major setbackdopted in November 2021 and welcomes the commitment to publish Additionality Impact Statements of EIB operations describing how the EIB delivers additionality and the commitment to publish calendars of the regular meetings of the Board of Directors, Management Committee and Audit Committee, but considers the review a missed opportunity on some other aspects; regrets that the EIB has totally ignored Parliament’s very clear demands to improve its TP in line with other financial institutions’ best practices and standards; calls for the TP to be aligned with that of the European Bank for Reconstruction and Development on mandatory disclosure for intermediaries of projects with high environmental risks;
Amendment 161 #
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22 a. Underlines that decisions related to the disbursement of public funds must be bound by the highest ethical standards, including independence, transparency and accountability; calls on the EIB to commit to reinforcing its transparency culture by further strengthening ethical interest representation, notably, by introducing a transparency register requiring the Bank’s vice-presidents to disclose their meetings with interest representatives;
Amendment 163 #
Motion for a resolution
Paragraph 22 b (new)
Paragraph 22 b (new)
22 b. Underlines that high levels of transparency and accountability must also apply to the new EIB Global branch; calls, in this regard, for the timely publication of the agendas and minutes of meetings of its new Advisory Board;
Amendment 164 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Expresses serious concerns at the lack of social dialogue at the EIB, in particular to address concerns about harassment allegations and the working environment; urges the EIB management to engage in genuine dialogue with staff in order to address their concerns and to foster trust and a culture of accountability; encourages the Bank to launch surveys and consultations across its staff;
Amendment 167 #
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23 a. Welcomes the fact that the EIB will review and revise its Strategy on Gender Equality and Women’s Economic Empowerment; calls on the EIB to take this opportunity to promote an inclusive workplace and set ambitious targets to increase the total percentage of women in senior positions; expects the EIB to take a participatory approach with a view of bringing about change in the Bank's culture;
Amendment 169 #
Motion for a resolution
Paragraph 23 b (new)
Paragraph 23 b (new)
23 b. Notes that women make up 52 percent of the EIB workforce; welcomes the progress made in terms of gender balance at the EIB, with an increase of women in management, senior executive and executive level positions to 30, 35 and 45 percent respectively in 2021; regrets, however, that the EIB failed to meet its original targets for 2021 and that women remain underrepresented in senior positions at the EIB; calls, therefore, on the EIB to step up its efforts to improve gender balance across all levels of the organisation;
Amendment 175 #
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
Amendment 185 #
Motion for a resolution
Paragraph 27
Paragraph 27
27. Is very concerned that, at least once, the EIB disbursed funding despite a very clear EIB Complaints Mechanism report concluding thatExpresses its concern about allegations of the EIB continuing the disbursement of funding despite its environmental and social standards hadving been breached; calls for any such project to be halted immediatelyon the EIB to ensure that standards are upheld throughout the entire project cycle and to take corrective action in cases of incompliance;
Amendment 187 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Welcomes the working arrangement with the European Public Prosecutor’s Office and calls for its full and diligent implementation, in particular as regards reporting; calls on the EIB to enhance its cooperation the European Anti-Fraud Office (OLAF);
Amendment 189 #
Motion for a resolution
Paragraph 28 a (new)
Paragraph 28 a (new)
28 a. Welcomes the signing of a Working Arrangement between the EIB and Europol on 29 October 2021, which seeks to facilitate the sharing of information and expertise in the fight against fraud and corruption; expects it to be fully implemented;
Amendment 191 #
Motion for a resolution
Paragraph 28 b (new)
Paragraph 28 b (new)
28 b. Notes that resources mobilised to support businesses, employees and economic growth during the coronavirus pandemic have been an attractive target for fraud and corruption, as underlined in the EIB Fraud Investigations Activity Report 2020; calls on the EIB to ensure that resources released by it reach their intended beneficiaries and are not diverted by prohibited conduct;
Amendment 192 #
Motion for a resolution
Paragraph 28 c (new)
Paragraph 28 c (new)
28 c. Underlines that international cooperation is key in combating fraud, corruption and other prohibited conduct effectively; calls on the EIB to refer suspected prohibited conduct to authorities within and outside the EU for further investigation and criminal prosecution, and provide assistance as requested;
Amendment 193 #
Motion for a resolution
Paragraph 28 d (new)
Paragraph 28 d (new)
28 d. Takes note of the revised July 2021 Anti-Money laundering and combatting the Financing of Terrorism (AML-CFT) Policy of the EIB; expects the EIB to align it with the evolving EU AML-CFT regulatory framework and practices to allow the Bank to effectively prevent involvement in prohibited conduct and to take corrective action, notably by exclusion of entities, recovery of funds and other contractual and legal remedies;
Amendment 194 #
Motion for a resolution
Paragraph 28 e (new)
Paragraph 28 e (new)
28 e. Calls on the EIB to subject the granting of direct and indirect loans to publication of tax and accounting data country by country by the beneficiaries and to the sharing of beneficial ownership data on the beneficiaries and financial intermediaries involved in financing operations by integrating a specific clause in contracts with its clients;
Amendment 195 #
Motion for a resolution
Paragraph 28 f (new)
Paragraph 28 f (new)
28 f. Calls on the EIB Group to align its policy towards weakly regulated, non- transparent and non-cooperative jurisdictions and tax good governance with evolving European and international regulatory developments in the area of tax integrity as well as tax good governance standards and policies;