Activities of Eero HEINÄLUOMA related to 2023/2229(INI)
Plenary speeches (1)
Financial activities of the European Investment Bank - annual report 2023 (debate)
Amendments (23)
Amendment 12 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Reiterates its call for a capital increase to allow the Bank to reinforce its support for inclusive sustainable growth, competitiveness and key real economy investments; expects the EIB to ensure that its financing contributes to addressing market failures and avoids crowding-out effects, and brings measurable impacts without increasing its overall financing costs;
Amendment 16 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Notes that EIB financing plays an increasingly important role in the context of high interest rates and stretched public finances;
Amendment 17 #
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3 b. In the context of a challenging economic outlook and increased global competition, expects the EIB to address constraints to EU competitiveness such as volatile energy prices, skills shortages in key sectors and insufficient investments in innovation and new technologies;
Amendment 21 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Calls on the EIB to support projects that deliver on the implementation of the European Pillar of Social Rights and the UN Sustainable Development Goals; calls on the EIB to expand its role in addressing investment gaps in social infrastructure and welfare, such as affordable and energy efficient social housing, utilities, public transport, sustainable transport and education, while ensuring additionality and complementarity with other public funds and commercial lenders; invites the EIB to increase the weighting of social benefits in project appraisals in order to provide long-term affordable solutions, in the context of a cost of living crisis and unforeseen drop in living standards; asks the EIB to enhance risk taking for projects providing essential services with long-term clear and measureable benefits;
Amendment 27 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Stresses the role of the European Investment Fund in improving access to finance for smaller EU companies, mid- caps and start-ups; calls on the EIB to adopt a higher risk appetite in terms of provideing additional growth capital to enable small and medium-sized enterprises to scale up their operations; stresses the need for the EIB to have a strong focus on start-ups and projects focused on creating and retaining high-quality jobs;
Amendment 29 #
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Invites the EIB to step up its investment in European security and defence, especially in safeguarding the delivery of assistance to Ukraine, as geo- political turbulence in Europe's neighbourhood and beyond is likely to continue; invites the EIB to assess where it could contribute to closing the investment gap and play a role in safeguarding the security of the EU;
Amendment 32 #
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6 b. Welcomes that EIB lending in Artificial Intelligence (AI) totalled EUR 2.9 billion in the past five years; considers, however, the volume of lending to be modest in comparison to the significance of AI in shaping our future societies and economies: calls on the EIB to step up investment in digitalisation and key technologies such as AI, cyber and quantum technologies, biotech and space; considers increased investment into future technologies as well as into upskilling and reskilling workers essential for a strong industrial base;
Amendment 48 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Expects the review of the Climate Bank Roadmap in 2024 to bring the EIB fully into line with the 1.5 degree pathway and the target of climate neutrality by 2050 at the latest, whilst ensuring a just transition for all, especially in the context of a cost of living crisis and an unforeseen drop in living standards; believes that the benchmark should be the most ambitious public banking practices; reiterates its call to include a solid assessment of less carbon- intensive alternatives and ‘scope 3’ emissions for each project;
Amendment 53 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls for the full implementation of the Paris Alignment for Counterparties, which covers both low-carbon and climate resilience aspects of a corporate strategy; expects the exemptions granted under the Paris Alignment’s framework in support of REPowerEU to be exceptional, temporary and fully justified;
Amendment 62 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Takes note of the upscaled investment in hydrogen; insists that the role of hydrogen is to contribute to the transition to climate-neutrality by reduceing emissions from hard-to-abate industrial sectors; expects additionality to be ensured so as to avoid diverting resources from existing renewable electricity as per the relevant delegated act1a; is concerned about the significant impacts of hydrogen projects on the water supply in certain regions in a context of increasing drought, as well as its impact on biodiversity; is concerned about de- risking private investments for large-scale green hydrogen projects, in particular in view of their limited commercial viability; _________________ 1a Commission Delegated Regulation (EU) 2023/1184 of 10 February 2023 supplementing Directive (EU) 2018/2001 of the European Parliament and of the Council by establishing a Union methodology setting out detailed rules for the production of renewable liquid and gaseous transport fuels of non-biological origin
Amendment 67 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Expects the EIB to engage more actively in nature-positive and biodiversity-enhancing investments and in sectors with the greatest biodiversity co- benefits, such as water, sanitation, forestry and the ocean, with the highest level of integrity and assurances and integrating the lessons learned from the Natural Capital Financing Facility; expects the EIB to increase financing for solutions reducing plastic pollution;
Amendment 75 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Emphasises the need for a circular economy approach to critical raw materials, based on recycling and reuse, in order to reduce the EU’s dependence on third countrieHighlights that the security of supply of critical raw materials is crucial both for the green and digital transitions as well as for the defence sector and for the EU industrial base in general; emphasises a circular economy approach to critical raw materials, based on recycling and reuse, in order to reduce the EU’s dependence on third countries; calls, therefore, on the EIB to invest more in the critical raw materials sector to help diversify the supply of both primary and secondary raw materials and to develop circular economy solutions, in particular R&D for alternative materials, such as bio-based materials;
Amendment 83 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Welcomes the EU for Ukraine initiative; welcomes the fact that all EIB actions in Ukraine are guided by the priorities for reconstruceconomic and social recovery, reconstruction and modernisation and will be fully aligned with the upcoming Ukraine plan; welcomes the technical assistance component to ensure optimal project preparation and implementation, as well as capacity building measures; welcomes the EIB’s efforts to prevent, deter and investigate fraud and corruption in relation to its projects in Ukraine; underlines, however, that EIB and EU support alone is not enough to address Ukraine's financing needs;
Amendment 86 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Expects EIB Global’s activities to remain aligned with EU strategic interests and external policy objectives; expects EIB Global to ensure that investments are additional, create long term positive impacts and clearly benefit recipient communities, by safeguarding natural heritage, enhancing climate resilience, creating local jobs and alleviating poverty; reminds the EIB to ensure a coordinated approach with other actors contributing to the European financial architecture for development, in order to deliver a stronger development impact; recalls furthermore that the successful implementation of EIB Global requires an adequate level of staff based on the ground, including local workers;
Amendment 87 #
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Underlines that Russia's war of aggression has also impacted regions in the EU and caused significant economic impact, especially in the Eastern border countries of the EU; calls on the EIB to take this into account in its financing decisions;
Amendment 96 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Takes note of the EIB Global strategic roadmap and the expectation that it will facilitate at least one third of the EUR 300 billion in investments set out to be generated by the end of 2027; welcomes the target for 2025 of more than 50% of annual lending going towards investment in climate action and environmental sustainability; expects the financing to contribute to an inclusive and just transition globally; furthermore, expects EIB Global to contribute in a meaningful way to the EU target of 85% of all new external actions supporting gender equality by 2025; expresses concern over the lack of inclusive and meaningful consultations with stakeholders who are impacted by its operations and believes that recipient country actors should be included in the decision-making and implementation of projects; calls for more support for projects with limited bankability and high public returns; reiterates its call for EIB Global to limit blending operations to areas where they can add value to the local economy, avoid crowding out private capital and to ensure that blended finance is not used for essential public services;
Amendment 97 #
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22 a. Is concerned about rapidly rising debt levels and higher borrowing costs in emerging and developing economies with an estimated 60% of low-income countries already in public debt distress or at high risk of debt distress1a; highlights the important role of the EIB and other multilateral institutions in providing funding on concessional terms to alleviate unsustainable debt burdens; _________________ 1a https://www.worldbank.org/en/publication /global-economic-prospects
Amendment 103 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Reiterates its call for clear and binding rules to complement the information note summarising EIB Global’s approach to human rights, in particular on assessment and disengagement; expresses particular concern that, since 2015, the EIB has not required project promoters to carry out any standalone human rights impact assessments; reiterates its call for the EIB to ensure that all of its operations benefit women and girls and the advancement of female economic empowerment and employment, as gender-smart development investments are more effective and sustainable; believes that the EIB could further increase microfinance loans to women-led businesses, which still face discrimination in access to finance;
Amendment 108 #
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23 a. Asks the EIB to collaborate with other bilateral and multilateral institutions to develop and apply common methodologies for development impact analysis, with a view to ensuring value added, long-term positive impacts;
Amendment 118 #
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24 a. Asks the EIB to pro-actively publish more detailed information regarding projects, including the rationale and context for projects, explaining how they align with and advance EU policy aims;
Amendment 119 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Reiterates its concern that EIB Vice-Presidents are often involved in project proposals from their home countries resulting in a potential risk of conflict of interest; invites the EIB to fully implement all recommendations received from the European Ombudsman in Case 1016/2021/KR; invites the EIB management committee members to publish their scheduled meetings with external stakeholders and reiterates the request to systematically publish the content of the meetings of the EIB’s governing bodies to further improve transparency;
Amendment 122 #
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25 a. Notes that the EIB has made progress in achieving a more gender balanced workforce, although women remain underrepresented in senior positions and in core areas of activity; regrets that the EIB did not reach its gender targets set for women at various levels in its 2018-2021 EIB Diversity and Inclusion (D&I) Strategy; calls, therefore, for the bank to step up its efforts to increase gender diversity to achieve gender parity and a better balance of genders across all functions, whilst also maintaining geographical balance;
Amendment 127 #
Motion for a resolution
Paragraph 25 b (new)
Paragraph 25 b (new)
25 b. Reiterates its call on the EIB to strengthen its policy against tax fraud, tax evasion and tax avoidance, including by refraining from funding beneficiaries or financial intermediaries which have a proven negative track record; calls on the EIB to enforce prevention measures and regular tax assessments against non- cooperative tax jurisdictions, tax and fiscal fraud, tax evasion and illegal and aggressive tax avoidance;