11 Amendments of Antoni COMÍN I OLIVERES related to 2021/2176(INI)
Amendment 4 #
Draft opinion
Paragraph 1
Paragraph 1
1. Notes with concern the asymmetry of international investment agreements (IIA), which give rights to foreign investors without putting the host state under any obligations in terms of human rights, public health, labour and environmental law; regrets that IIAs usually include the investor-state dispute settlement mechanism (ISDS), which provides protection for investors but not for states or citizens, and deprive states of their right to enact regulatory frameworks that protect essential public interests, such as economic, social, cultural and environmental rights;
Amendment 9 #
Draft opinion
Paragraph 2
Paragraph 2
2. Deplores the asymmetry of this private justice system, which gives foreign investors the right to bring claims against governments; highlights the risks posed by the high costs of ISDS claims, regardless of their outcome, for the public finance of developing countries, which can avoid regulatory measures being taken in the public interest because of the high cost of arbitrary procedures and the unpredictability of their result; stresses that the costs of investment lawsuits have the potential to bring the public budgets of most African countries to breaking point;
Amendment 20 #
Draft opinion
Paragraph 3
Paragraph 3
3. Calls for the EU to align its investment policy with the European Green Deal and the European Climate Law1 ; stresses the importance of setting up industrial capacity in green energy industries like battery and solar photovoltaic manufacturing plants in partner countries, especially in Africa, and to share the technologies that are required for this green industrialisation process; _________________ 1 OJ L 243, 9.7.2021, p. 1.
Amendment 22 #
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Underlines the importance of aligning EU investments with the development priorities of partner countries and the regional organizations to which they belong in order to ensure that these investments are mutually beneficial for both parties, and to carry out inclusive ex ante impact assessments in this regard;
Amendment 26 #
Draft opinion
Paragraph 3 b (new)
Paragraph 3 b (new)
3 b. Regrets the breach of the commitment made by developed countries in the 2009 Copenhagen Agreement to provide predictable and adequate funding for climate action in developing countries, especially for adaptation needs, that should have reached 100 billion dollars in 2020; calls on the EU to step up climate funding beyond the framework of the NDICI-Global Europe instrument, including through an ambitious use of the revenue raised by ETS auctions and CBAM certificates;
Amendment 28 #
Draft opinion
Paragraph 3 c (new)
Paragraph 3 c (new)
3 c. Stresses the need to boost the manufacturing capacity of medical equipment in developing countries and the establishment of regional supply chains;
Amendment 30 #
Draft opinion
Paragraph 4
Paragraph 4
4. Urges the EU to review its investment treaties in order to ensure a fair balance between rights and obligations for investors with full respect for human rights and the environment; stresses the need to oblige the investor to support sustainable investment in the host state and to oblige the home state of the investor to allow victims to seek justice, including clear and precise binding human rights obligations, with full respect for the environment, corporate social responsibility, labour standards and the rule of law; stresses the need to build strong alliances with local actors and oblige the investor to support sustainable, green, gender-sensitive and inclusive investment in the host state and define a clear coherent definition of the investments in third countries that are to be qualified as sustainable, which should be established in accordance with the OECD Guidelines for Multinational Enterprises on corporate social responsibility; underlines the need to oblige the home state of the investor to allow victims to seek justice before its national courts, and to provide victims with the necessary resources that safeguard their right to effective judicial protection; stresses the need to conduct gender-responsive human rights due diligence, in meaningful consultation with all relevant stakeholders, including civil society organizations, women’s organizations, trade unions and representatives of minorities and autochthonous peoples, prior to making an investment and throughout its life cycle; underlines that the upcoming legislation on corporate due diligence needs to be provide a clear framework to achieve these goals;
Amendment 36 #
Draft opinion
Paragraph 5
Paragraph 5
5. Believes that governments should not sign new investment protection treaties that include the ISDS mechanism and should remove it from the existing ones; is of the view that investment treaties should instead provide mechanisms and technical assistance to strengthen domestic legal systems and the rule of law, which would ensure a favourable environment for foreign investment while addressing the systemic failures that have a negative impact on sustainable development in partner countries;
Amendment 46 #
Draft opinion
Paragraph 6
Paragraph 6
6. Stresses that the Investment Court System designed by the EU does not protect governments’ right to regulate, despite some procedural improvements like the selection of arbitrators or the establishment of an appellation body, does not protect governments’ right to regulate because it reinforces investor privileges and exposes the governments of developing countries to even more costly lawsuits; underlines that foreign investment should contribute to bridging gaps to address economic inequality rather than entrenching it further;
Amendment 56 #
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Calls for the EU to foster a consensus towards adjustment and reforms to improve debt sustainability in international investments; underlines that debt relief, including debt cancellation, should be considered for the countries most in need, including middle-income countries when necessary; recalls the urgent need for reforming the international debt architecture to avoid a serious debt crisis;
Amendment 60 #
Draft opinion
Paragraph 8
Paragraph 8
8. Recalls that governments have the right to regulate in a precautionary way that prioritises public health, labour and human rights, and the environment. ; stresses that the precautionary principle is an essential element of EU law, and that therefore the EU cannot prevent partner countries from enshrining this same principle in their legal orders; insists on the need to reform existing international investment agreements in line with the recommendations made by UNCTAD;