373 Amendments of Dorien ROOKMAKER
Amendment 83 #
2023/0379(COD)
Proposal for a regulation
Recital 21
Recital 21
(21) To ensure a seamless transition to the rules introduced under this Regulation and to avoid that administrators have to go through a procedure for registration or authorisation more than once, competent authorities and ESMA should provide less burdensome application procedures for administrators that are already, administrators previously registered, authorised, recognised, endorsed or equivalent under Regulation (EU) 2016/1011 should continue to be registered, authorised, registercognised, endorsed or recognised and that apply for a new authorisation, registration, endorsement or recognition within two years from the date of application of this amendingequivalent without needing to re-apply, to the extent that they administer any in-scope benchmark or voluntarily opt in to the Regulation.
Amendment 84 #
2023/0379(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a
Article 1 – paragraph 1 – point 1 – point a
Regulation (EU) 2016/1011
Article 2 – paragraph 1a
Article 2 – paragraph 1a
1a. Titles II, III, with the exception of Articles 23a to 23d IV and VI . apply only in respect of critical benchmarks, significant benchmarks, EU Climate Transition Benchmarks and, EU Paris- aligned Benchmarks and ESG Benchmarks. Title III, with the exception of Articles 23a to 23d, and Titles IV and VI apply to commodity benchmarks subject to Annex II.;
Amendment 90 #
2023/0379(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 8 a (new)
Article 1 – paragraph 1 – point 8 a (new)
Regulation (EU) 2016/1011
Article 19 – paragraph 1 – subparagraph 2
Article 19 – paragraph 1 – subparagraph 2
Amendment 91 #
2023/0379(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Regulation (EU) 2016/1011
Article 19a – paragraph 4
Article 19a – paragraph 4
Amendment 116 #
2023/0379(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Article 1 – paragraph 1 – point 11
Regulation (EU) 2016/1011
Article 24 – paragraph 6 a (new)
Article 24 – paragraph 6 a (new)
6a. Administrators of benchmarks which do not meet the requirements to be considered as critical, significant, commodity benchmarks subject to Annex II, EU Climate Transition Benchmarks, EU Paris-aligned Benchmarks or ESG Benchmarks may voluntarily apply for access to the register provided for in Article 36 either by means of authorisation, registration recognition or endorsement. Administrators who voluntarily opt in to this Regulation shall do so, in writing with their current supervisory authority, per benchmark and each of those benchmarks shall be deemed to be significant benchmarks under Regulation (EU) 2016/1011. Administrators of benchmarks that were authorised, registered, endorsed or recognised on ...[ date of application of this amending Regulation] who use this voluntary opt in within six months after entry into application of this amending regulation, shall not be obliged to re-apply for authorisation registration, recognition, or endorsement.
Amendment 123 #
2023/0379(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 14 – point c
Article 1 – paragraph 1 – point 14 – point c
Regulation (EU) 2016/1011
Article 29 – paragraph 1a
Article 29 – paragraph 1a
1ab. A supervised entity that uses a benchmark in existing financial contracts or financial instruments that is subject to a public notice under Article 24a(5) shall replace that benchmark with an appropriate alternative within 612 months following the publication of that notice, or issue and publish a statement on its website informing clients of the absence of an appropriate alternativeprovide a reasoned explanation for not being able to do so.;
Amendment 126 #
2023/0379(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 14 – point c a (new)
Article 1 – paragraph 1 – point 14 – point c a (new)
Regulation (EU) 2016/1011
Article 29 – paragraph 1 b a(new)
Article 29 – paragraph 1 b a(new)
1ba. The prohibition in paragraph 1 of this Article shall not apply to the following: (a) market making in support of client activity related to transactions executed before the effective date of the prohibition; (b) transactions or other activities that reduce or hedge the supervised entity's or any client of the supervised entity's exposure to the prohibited benchmark; (c) novations of transactions; (d) transactions executed for the purposes of participation in a central counterparty auction procedure in the case of a member default, including transactions to hedge the resulting exposure; (e) interpolation or other use provided for in contractual fallback arrangements in connection with the prohibited benchmark.
Amendment 133 #
2023/0379(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 21
Article 1 – paragraph 1 – point 21
Regulation (EU) 2016/1011
Article 51 – paragraph 4c
Article 51 – paragraph 4c
4c. Competent authorities and ESMA shall ensure that a benchmark administrators that was were authorised, registered, endorsed or recognised by a competent authority under this Regulation before on [PO please insert the date = date of application of this amending Regulation] shall retain such status under this Regulation where one or several of that administrator’s benchmarks exceed the significant benchmark threshold referred to in Article 24 or such administrator voluntarily chooses to retain such authorisation, registration, endorsement or recognition under this Regulation. Benchmark administrators with an existing authorisation, registration, endorsement or recognition prior to [PO please insert the date = date of application of this amending Regulation] which administer one or several benchmarks which exceed the significant benchmark threshold referred to in Article 24 or which choose to retain such authorisation, registration, endorsement or recognition on a voluntary basis shall not be required to re- apply for authorisation, registration, endorsement or recognition, as appropriate, under this Regulation based on its revised scope, can benefit from a simplified procedure where they apply for authorisation registration, recognition, or endorsement pursuant to Article 24a(1), (2), or (3), as applicable, by … [PO please insert the date = date of application of this amending Regulation + two years];’
Amendment 177 #
2023/0271(COD)
Proposal for a regulation
Recital 2 a (new)
Recital 2 a (new)
(2a) This regulation is aiming to enlarge the capacity on the European rail network as the existing capacity is not sufficient to reach the 2030 and 2050 shift-to-rail objectives of the European Commission.
Amendment 180 #
2023/0271(COD)
Proposal for a regulation
Recital 2 c (new)
Recital 2 c (new)
(2c) Building extra rail infrastructure capacity is necessary to achieve the 2050 shift-to-rail objectives and mitigate the conflicts in the timetables in the EU rail network
Amendment 181 #
2023/0271(COD)
Proposal for a regulation
Recital 2 d (new)
Recital 2 d (new)
(2d) Shift-to-rail objectives on EU level require national targets based on concrete national plans developed by Member States following bottom-up approach.
Amendment 226 #
2023/0271(COD)
Proposal for a regulation
Article 1 – paragraph 3
Article 1 – paragraph 3
3. Chapters II to V of this Regulation shall not apply to rail infrastructure or railway services that are excluded from the application of Chapter IV of Directive 2012/34/EU in accordance with Article 2(3), (3a), (4), (8), (9), (8a) and (10) of that Directive during the period of validity of the relevant exclusions.
Amendment 266 #
2023/0271(COD)
Proposal for a regulation
Article 7 – paragraph 1
Article 7 – paragraph 1
1. Applicants shall make requests for infrastructure capacity. In order to use such infrastructure capacity, applicants who are not a railway undertaking shall appoint a railway undertaking to. A railway undertaking can conclude an agreement with the infrastructure manager in accordance with Article 28 of Directive 2012/34/EU. This is without prejudice to the right of applicants to conclude framework agreements with infrastructure managers under Article 31 of this Regulation. or other agreements
Amendment 273 #
2023/0271(COD)
Proposal for a regulation
Article 8 – paragraph 4
Article 8 – paragraph 4
Amendment 287 #
2023/0271(COD)
Proposal for a regulation
Article 9 – paragraph 1 – subparagraph 1
Article 9 – paragraph 1 – subparagraph 1
Infrastructure managers shall provide interested partieoperational stakeholders, in particular applicants, potential applicants and regulatory bodies, with accurate and up-to- date information on the availability of infrastructure capacity throughout the entire capacity management process, including in the strategic planning phase referred to in section 2, during the scheduling and allocation processes set out in section 3 and whenever there are changes to allocated capacity as referred to in section 4. In line with the infrastructure managers capacity-related publications (strategy, model, supply plan). Such information shall be provided through the IT applications and other tools normally used by the IMs, with specific ad hoc publications only in the case of a significant change.
Amendment 302 #
2023/0271(COD)
Proposal for a regulation
Article 11 – paragraph 3 – subparagraph 1 – point d a (new)
Article 11 – paragraph 3 – subparagraph 1 – point d a (new)
(da) long-term strategic infrastructure plans and their separate stages including specific timetabling concepts underlying the infrastructure plans, from those Member States.
Amendment 330 #
2023/0271(COD)
Proposal for a regulation
Article 14 – paragraph 2
Article 14 – paragraph 2
2. ENIM shall take into account any relevant complaistatement of disagreement by applicants or potential applicants on the planning documents referred to in Article 11(2) and shall request additional information from the entities involved in the coordination in accordance with Article 53 and from operational stakeholders consulted in accordance with Article 54, prior to adopting an opinion or recommendation to improve the consistency of those planning documents. ENIM shall share its opinion on the draft planning documents with the ENRRB or inform the latter of a failure to adopt an opinion. The ENRRB shall act in accordance with Article 65(3).
Amendment 335 #
2023/0271(COD)
Proposal for a regulation
Article 15 – paragraph 1
Article 15 – paragraph 1
1. Infrastructure managers and ENIM shall regularly monitor and analyse rail transport markets and relevant multimodal aspects in order to inform their overall business strategy, capacity and contingency management and investment decisions. Infrastructure managers shall communicate the results of this analysis to other stakeholders for similar purposes, including the European Coordinators.
Amendment 343 #
2023/0271(COD)
Proposal for a regulation
Article 15 – paragraph 5 a (new)
Article 15 – paragraph 5 a (new)
5a. Member States shall develop national plans, i.e. Rail National Strategic Plan (RNSPs), based on the study mentioned in paragraph 3, and taking into account the rail traffic increase objectives mentioned in Recital 2 of this regulation. The Commission shall receive and assess RNSPs against the EU shift-to-rail objectives as stated in Recital 2. ENIM shall monitor progress of the implementation of RNSPs and report back to the Commission and Member States on the status and challenges observed in the RNSPs
Amendment 348 #
2023/0271(COD)
Proposal for a regulation
Article 16 – paragraph 4
Article 16 – paragraph 4
4. The infrastructure manager shall prepare, and publish and regularly update the capacity strategy in accordance with the schedule and the contents set out in section 2 of Annex I.
Amendment 350 #
2023/0271(COD)
Proposal for a regulation
Article 16 – paragraph 5
Article 16 – paragraph 5
5. Infrastructure managers shall consult applicants on the capacity strategy in accordance with Article 13 and coordinate capacities strategies with other relevant infrastructure managers in accordance with Article 14.
Amendment 359 #
2023/0271(COD)
Proposal for a regulation
Article 17 – paragraph 4
Article 17 – paragraph 4
4. Infrastructure managers shall consult applicants on the capacity model in accordance with Article 13 and coordinate capacities strategies with other relevant infrastructure managers in accordance with Article 14.
Amendment 375 #
2023/0271(COD)
Proposal for a regulation
Article 20 – paragraph 2
Article 20 – paragraph 2
2. Capacity planning objects shall define the characteristics and properties of different types of pre-planned capacity, including capacity available for requests by applicants, capacity reserved for infrastructure works and capacity already allocated. Those characteristics and properties shall include all aspects relevant for specific types of pre-planned capacity, such as route, timing, guaranteed or required minimum speed, the technical compatibility between rolling stock with infrastructuresegmentation, parameters and number of slots included.
Amendment 397 #
2023/0271(COD)
Proposal for a regulation
Article 26 – paragraph 1 – subparagraph 1
Article 26 – paragraph 1 – subparagraph 1
Applicants may apply under public or private law to the infrastructure manager to request an agreement granting rights to usefor capacity on railway infrastructure against a charge as provided for in section 2 of Chapter IV of Directive 2012/34/EU.
Amendment 398 #
2023/0271(COD)
Proposal for a regulation
Article 26 – paragraph 1 – subparagraph 2 – introductory part
Article 26 – paragraph 1 – subparagraph 2 – introductory part
Infrastructure managers shall allocate the right to usefor infrastructure capacity to applicants in the form of one of the following:
Amendment 559 #
2023/0271(COD)
Proposal for a regulation
Article 57 – paragraph 2 a (new)
Article 57 – paragraph 2 a (new)
2a. ENIM shall ensure that the infrastructure managers publish the rail traffic volume data on quarterly basis to the public.
Amendment 102 #
2023/0177(COD)
Proposal for a regulation
Recital 3
Recital 3
(3) Achieving SDG objectives in the Union requires the channelling of capital flows towards sustainable investments. It is important to exploit fully the potential of the internal market for the achievement of those goals, while balancing these objectives with economic concerns. In that context, it is crucial to remove obstacles to the efficient movement of capital towards sustainable investments in the internal market and to prevent such obstacles from emerging.
Amendment 105 #
2023/0177(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) The EU’s approach to sustainable and inclusive growth is anchored in the 20 principles of the European Pillar of Social Rights to ensure a fair transition towards this goal and policies which leave no one behind, which enables EU coodination but also respects the principle of subsidiarity in social and employment policies. Furthermore, the EU social acquis including the Union of Equality Strategies21 provides standards in the areas of labour law, equality, accessibility, health and safety at work, and anti-discrimination. _________________ 21 Gender equality strategy; LGBTIQ equality strategy; Roma strategic framework; Strategy for the Rights of Persons with Disability.
Amendment 113 #
2023/0177(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) ESG ratings play an important role in global capital markets, as investors, borrowers and issuers increasingly use those ESG ratings as part of making informed, sustainable investment and financing decisions. Credit institutions, investment firms, insurance undertakings, assurance undertakings, and reinsurance undertakings, amongst others, often use those ESG ratings as a reference for the sustainability performance or for the sustainability risks and opportunities in their investment activity. Consequently, ESG ratings have a significant impact on the operation of the markets and on the trust and confidence of investors and consumers. To ensure that ESG ratings used in the Union are independent, objective and of adequate quality, it is important that ESG rating activities are conducted in accordance with the principles of integrity, transparency, responsibility, and good governance. Better comparability and increased reliability of ESG ratings would enhance the efficiency of that fast-growing market, thereby facilitating progress towards the objectives of the Green Deal.
Amendment 115 #
2023/0177(COD)
Proposal for a regulation
Recital 12
Recital 12
(12) It is necessary to acknowledge the various business models of the ESG rating market. A first business model is the user- paid model, where users are mainly investors that purchase ESG ratings for investment decisions. A second business model is the issuer-pay model, where undertakings purchase ESG ratings for assessing risks and opportunities with their operations. The different business models lead to different types of conflicts of interests which need to be managed accordingly.
Amendment 125 #
2023/0177(COD)
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16 a) ESG and ethical considerations are not a novel concept for businesses; they have held significant importance even before formal bureaucratic requirements. Every company aspiring to achieve long-term success has long recognised that it is no longer sufficient to solely focus on shareholder value but equally crucial to consider stakeholder value. Deception or unethical treatment of customers will inevitably jeopardize the sustainable success of a company over time. Inadequate treatment of employees within a company negatively affects their performance and may lead to employee turnover. Furthermore, any violation of legal regulations exposes the company to substantial legal and financial risks, including potential liability claims and the jeopardy of the company's existence. Misleading shareholders ultimately leads to regulatory sanctions in the stock market.
Amendment 130 #
2023/0177(COD)
Proposal for a regulation
Recital 20
Recital 20
(20) To ensure the quality and reliability of ESG ratings, ESG rating providers should use rating methodologies that are rigorous, systematic, objective, and continuous and subject to validation. ESG rating providers should review ESG ratings methodologies on an on-going basis and at least annually, and should regularly evaluate their methodologies against the outputs which they have been used to produce.
Amendment 137 #
2023/0177(COD)
Proposal for a regulation
Recital 21
Recital 21
(21) To ensure a higher-level transparency, ESG rating providers should disclose information to the public on the methodologies, models and key rating assumptions which those providers use in their ESG rating activities and in each of their ESG ratings product. In light of the uses of ESG ratings by investors, the rating products should explicitly disclose which dimension of the double materiality the rating addresses, whether it is both material financial risk to the rated entity and the material impact of the rated entity on the environment and society in general or whether it takes into account only one of them. They should also explicitly disclose whether the rating addresses other dimensions. For the same reason, ESG rating providers should provide more detailed information on the methodologies, models and key rating assumptions to subscribers of ESG ratings. That information should enable users of ESG ratings to perform their own due diligence when assessing whether to rely or not on those ESG ratings. Disclosure of information concerning models should however not reveal sensitive business information or impede innovation, proprietary knowledge or impede innovation. Striking this balance is essential for the functioning and progress of industries in the modern economy.
Amendment 147 #
2023/0177(COD)
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
This Regulation introduces a common regulatory approach to enhance the integrity, transparency, responsibility, good governance, and independence of ESG rating activities, contributing to the consistency, transparency and quacomparability of ESG ratings. It aims to contribute to the smooth functioning of the internal market, while achieving a high level of consumer and investor protection and preventing greenwashing or other types of misinformation, including social- washing, by introducing transparency requirements related to ESG ratings and rules on the organisation and conduct of ESG rating providers.
Amendment 165 #
2023/0177(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point d
Article 2 – paragraph 2 – point d
(d) credit ratings issued pursuant to Regulation (EC) No 1060/2009 of the European Parliament and of the Council30 and any assessments of ESG factors that are created in relation to the analysis of, or as an output of, credit ratings; _________________ 30 Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies (OJ L 302, 17.11.2009, p. 1).
Amendment 173 #
2023/0177(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point f
Article 2 – paragraph 2 – point f
(f) second-party opinions on sustainability bondall types of green, social, sustainability and sustainability-linked bonds and loans;
Amendment 188 #
2023/0177(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point i – point d a (new)
Article 2 – paragraph 2 – point i – point d a (new)
(d a) the transparency of methodology requirements pursuant to Article 13 of Regulation 2016/1011;
Amendment 191 #
2023/0177(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point i a (new)
Article 2 – paragraph 2 – point i a (new)
(i a) the mandatory disclosures pursuant to Articles 6, 8 and 9 of Regulation (EU) 2019/2088;
Amendment 192 #
2023/0177(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point i b (new)
Article 2 – paragraph 2 – point i b (new)
(i b) the disclosures pursuant to Articles 5, 6 and 8 of Regulation (EU) 2020/852;
Amendment 193 #
2023/0177(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point i c (new)
Article 2 – paragraph 2 – point i c (new)
(i c) the transparency of methodology requirements to Article 13 and Annex III of Regulation 2019/2089;
Amendment 194 #
2023/0177(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point i d (new)
Article 2 – paragraph 2 – point i d (new)
(i d) the transparency of methodology requirements to Article 13 of Regulation 2019/2175;
Amendment 195 #
2023/0177(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point i e (new)
Article 2 – paragraph 2 – point i e (new)
(ie) the transparency of methodology requirements to Article 13 of Regulation 2021/168.
Amendment 203 #
2023/0177(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 2
Article 3 – paragraph 1 – point 2
(2) ‘opinion’ means an assessment that based on a rules-based methodology and defined ranking system of rating categories, involving directly a rating analyst in the rating process or systems process;
Amendment 205 #
2023/0177(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 3
Article 3 – paragraph 1 – point 3
(3) ‘score’ means a measure derived from data, using a rule-based methodology, and based only on a pre- established statistical or algorithmic system or model, without any additional substantial analytical input from an analyst;
Amendment 209 #
2023/0177(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 4
Article 3 – paragraph 1 – point 4
(4) ‘ESG rating providers’ means a legal person whose occupation includes the offering and distributionissuing of ESG ratings or scores on a professional basis;
Amendment 214 #
2023/0177(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 7
Article 3 – paragraph 1 – point 7
(7) ‘rated entity’ means a legal person, a financial instrument, a financial product or a public authority or a body governed by public law which is explicitly or implicitly rated in the ESG rating or score, irrespective of whether such rating has been requested for and irrespective of whether the legal person has provided information for that ESG rating or score;
Amendment 215 #
2023/0177(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 8
Article 3 – paragraph 1 – point 8
(8) ‘user’ means a natural or legal person, including a public authority or a body governed by public law, to which an ESG rating is provided, on the basis of a contract with an ESG rating provider;
Amendment 217 #
2023/0177(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 10
Article 3 – paragraph 1 – point 10
Amendment 258 #
2023/0177(COD)
Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 1 – introductory part
Article 10 – paragraph 1 – subparagraph 1 – introductory part
An ESG rating provider located in the Union and authorised in accordance with Article 7, or any other regulated financial undertaking in the Union with a clear and well-defined role within the control or accountability framework of a third country ESG rating provider, may endorse ESG ratings provided by a third country ESG rating provider belonging to the same group, provided that all of the following conditions have been met:
Amendment 259 #
2023/0177(COD)
Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 1 – point a
Article 10 – paragraph 1 – subparagraph 1 – point a
(a) the endorsing ESG rating provider located in the Union has appliedor other regulated financial undertaking in the Union has submitted a request to ESMA for authorisation of such endorsement;
Amendment 260 #
2023/0177(COD)
(b) the endorsing ESG rating provider locatedor other regulated financial undertaking in the Union has verified and is able to demonstrate on an on- going basis to ESMA that the provision of the ESG rating to be endorsed fulfils requirements which are at least as stringent as the requirements of this Regulation;
Amendment 261 #
2023/0177(COD)
Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 1 – point c
Article 10 – paragraph 1 – subparagraph 1 – point c
(c) the endorsing ESG rating provider locatedor other regulated financial undertaking in the Union has the necessary expertise to monitor the provision of ESG ratings by the third country ESG rating provider effectively, and to manage any associated risks;
Amendment 262 #
2023/0177(COD)
Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 1 – point e
Article 10 – paragraph 1 – subparagraph 1 – point e
(e) the endorsing ESG rating provider located in the Union provides ESMA at or other regulated financial undertaking in the Union that submits a request with all the information necessary to enable ESMA to supervise the compliance by the third country ESG rating provider with this Regulation on an ongoing basisfor endorsement shall provide all information necessary to satisfy ESMA that, at the time of application, all the conditions referred to in this paragraph 1 are fulfilled;
Amendment 272 #
2023/0177(COD)
Proposal for a regulation
Article 10 – paragraph 3
Article 10 – paragraph 3
3. Within 90 working days of receipt ofESMA shall examine the application for endorsement referred to in paragraph 1, ESMA shall examine the application and decide and decide within 90 days of receipt either to authorispprove the endorsement or to refuse it. ESMA shall publicly notify the decision to endorse provided by a third country ESG rating providersh its decision.
Amendment 273 #
2023/0177(COD)
Proposal for a regulation
Article 10 – paragraph 4
Article 10 – paragraph 4
4. An endorsed ESG rating shall be considered to be an ESG rating provided by the endorsing ESG rating provider. The endorsing provider or other regulated financial undertaking in the Union. The endorsing ESG rating provider or other regulated financial undertaking in the Union shall not use the endorsement to avoid or circumvent the requirements of this Regulation.
Amendment 274 #
2023/0177(COD)
Proposal for a regulation
Article 10 – paragraph 5
Article 10 – paragraph 5
5. An ESG rating provider or other regulated financial undertaking in the Union that has endorsed an ESG rating provided by a third country ESG rating provider shall remain fully responsible for such an ESG rating and for compliance with the obligations under this Regulation.
Amendment 276 #
2023/0177(COD)
Proposal for a regulation
Article 10 – paragraph 6
Article 10 – paragraph 6
6. Where ESMA has well-founded reasons to consider that the conditions laid down in paragraph 1 are no longer fulfilled, it shall have the power to require the endorsing ESG rating provider or other regulated financial undertaking in the Union to cease the endorsement.
Amendment 290 #
2023/0177(COD)
Proposal for a regulation
Article 14 – paragraph 4
Article 14 – paragraph 4
4. ESG rating providers shall adopt and implement written policies and procedures that ensure that their ESG ratings are based on a thorough analysis of all relevant information available to themunder the methodology and that can be reasonably expected to be available to them in accordance with their business model.
Amendment 291 #
2023/0177(COD)
Proposal for a regulation
Article 14 – paragraph 5
Article 14 – paragraph 5
5. ESG rating providers shall adopt and implement internal due diligence policies and procedures that ensure that their business interests do not impair the independence or accuracy of the assessment activities.
Amendment 292 #
2023/0177(COD)
Proposal for a regulation
Article 14 – paragraph 7
Article 14 – paragraph 7
7. ESG rating providers shall use rating methodologies for the ESG ratings they provide that are rigorous, systematic, and objective and capable of validation and shall apply those rating methodologies continuously. Rating methodologies should be subject to a regular evaluation against the outputs which they have been used to produce.
Amendment 298 #
2023/0177(COD)
Proposal for a regulation
Article 14 – paragraph 8
Article 14 – paragraph 8
8. ESG rating providers shall review the rating methodologies referred to in paragraph 67 on an on-going basis and at least annually.
Amendment 301 #
2023/0177(COD)
Proposal for a regulation
Article 14 – paragraph 11
Article 14 – paragraph 11
11. ESG rating providers shall adopt, implement, and enforce measures to ensure that their ESG ratings are based on a thorough analysis of all the information that is available to them and that is relevant to their analysis in accordance with their rating methodologies. They shall adopt all necessary measures to ensure that the information they use in assigning ESG ratings is of sufficient quality and from reliable sources. ESG rating providers shall explicitly mention that their ESG ratings are their own opinion .
Amendment 304 #
2023/0177(COD)
Proposal for a regulation
Article 14 – paragraph 12
Article 14 – paragraph 12
12. ESG rating providers shall not be required to disclose information about their intellectual capital, intellectual property, know-how or the results of innovation that would qualify as trade secrets as defined in Article 2, point (1), of Directive (EU) 2016/943 of the European Parliament and of the Council52 . _________________ 52 Directive (EU) 2016/943 of the European Parliament and of the Council of 8 June 2016 on the protection of undisclosed know-how and business information (trade secrets) against their unlawful acquisition, use and disclosure (OJ L 157, 15.6.2016, p. 1).
Amendment 305 #
2023/0177(COD)
Proposal for a regulation
Article 14 – paragraph 13
Article 14 – paragraph 13
13. ESG rating providers shall only make changes to their ESG ratings in accordance with their rating methodologies published pursuant to Article 21, unless unexpected and unforeseen events require a deviation from the established methodology in exceptional circumstances. In this case, the ESG rating provider shall make a public announcement and disclose the rationale for the deviation and the nature of the exceptional circumstance.
Amendment 311 #
2023/0177(COD)
Proposal for a regulation
Article 15 – paragraph 1 – introductory part
Article 15 – paragraph 1 – introductory part
1. ESG rating providers shall not provide any of the following activities:
Amendment 313 #
2023/0177(COD)
(a) consulting activities to investors or undertakings;
Amendment 316 #
2023/0177(COD)
Proposal for a regulation
Article 15 – paragraph 1 – point b
Article 15 – paragraph 1 – point b
Amendment 320 #
2023/0177(COD)
Proposal for a regulation
Article 15 – paragraph 1 – point c
Article 15 – paragraph 1 – point c
Amendment 322 #
2023/0177(COD)
Proposal for a regulation
Article 15 – paragraph 1 – point d
Article 15 – paragraph 1 – point d
Amendment 324 #
2023/0177(COD)
Proposal for a regulation
Article 15 – paragraph 1 – point e
Article 15 – paragraph 1 – point e
Amendment 327 #
2023/0177(COD)
Proposal for a regulation
Article 15 – paragraph 1 – point f
Article 15 – paragraph 1 – point f
Amendment 330 #
2023/0177(COD)
Proposal for a regulation
Article 15 – paragraph 2
Article 15 – paragraph 2
2. ESG rating providers shall ensure that the provision of other services than those referred to in paragraph 1 does not create risks of conflicts of interestother than ESG ratings does not create unmanageable risks within its ESG rating activities.
Amendment 333 #
2023/0177(COD)
Proposal for a regulation
Article 16 – title
Article 16 – title
Rating analysts, employees and other persons directly involved in the provision of ESG ratings
Amendment 334 #
2023/0177(COD)
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
1. ESG rating providers shall ensure that rating analysts, employees and any other natural person whose services are placed at its disposal or under its control and who are directly involved in the provision of ESG ratings, including analysts directly involved in the rating process and persons involved in the provision of scores, have the knowledge and experience that is necessary for the performance of the duties and tasks assigned.
Amendment 350 #
2023/0177(COD)
Proposal for a regulation
Article 18 – paragraph 1
Article 18 – paragraph 1
1. ESG rating providers shall have in place and publish on their website procedures for receiving, investigating and retaining records concerning complaints made by rated entities.
Amendment 357 #
2023/0177(COD)
Proposal for a regulation
Article 18 – paragraph 2 – point c
Article 18 – paragraph 2 – point c
Amendment 375 #
2023/0177(COD)
Proposal for a regulation
Article 21 – paragraph 1
Article 21 – paragraph 1
1. ESG rating providers shall disclose on their website the methodologies, models and key rating assumptions they use in their ESG rating activities, including the information referred to in point 1 of Annex III.
Amendment 393 #
2023/0177(COD)
Proposal for a regulation
Article 23 – paragraph 1
Article 23 – paragraph 1
1. ESG rating providers shall have in place robust governance arrangements, including a clear organisational structure with well-defined, transparent, and consistent roles and responsibilities for all persons directly involved in the provision of an ESG rating.
Amendment 395 #
2023/0177(COD)
Proposal for a regulation
Article 23 – paragraph 3 – subparagraph 1
Article 23 – paragraph 3 – subparagraph 1
Amendment 403 #
2023/0177(COD)
Proposal for a regulation
Article 24 – paragraph 2
Article 24 – paragraph 2
2. ESG rating providers shall establish specific internal control procedures to ensure the integrity and reliability of the employee or person determiningof the ESG rating, including internal sign-off by management before the dissemination of the ESG rating.
Amendment 406 #
2023/0177(COD)
Proposal for a regulation
Article 25 – title
Article 25 – title
Amendment 408 #
2023/0177(COD)
Proposal for a regulation
Article 25 – paragraph 1
Article 25 – paragraph 1
1. ESG rating providers shall take steps that are adequate to ensure that fees charged to clients are fair, reasonable, transparent, and non- discriminatory and are based on costs.
Amendment 412 #
2023/0177(COD)
Proposal for a regulation
Article 25 – paragraph 2
Article 25 – paragraph 2
2. For the purposes of paragraph 1, ESMA may require ESG rating providers to provide it with documented evidence, may take supervisory measures in accordance with Article 33, and may decide to impose fines in accordance with Article 34 where it finds that fees from ESG rating providers are not fair, reasonable, transparent, and non- discriminatory and not based on actual costs.
Amendment 415 #
2023/0177(COD)
Proposal for a regulation
Article 26 – title
Article 26 – title
Non-interference with the data sources or the content of ratings or methodologies
Amendment 417 #
2023/0177(COD)
Proposal for a regulation
Article 26 – paragraph 1
Article 26 – paragraph 1
In carrying out their duties under this Regulation, ESMA, the Commission or any public authorities of a Member State shall not interfere with the content of ESG ratings or methodologies. Rated entities and subscribers shall not interfere with the content of ESG ratings or methodologies.
Amendment 440 #
2023/0177(COD)
Proposal for a regulation
Article 34 – paragraph 2
Article 34 – paragraph 2
2. Where the ESG ratings provider is a parent undertaking or a subsidiary of a parent undertaking which is required to prepare consolidated financial accounts pursuant to Directive 2013/34/EU, the relevant total annual net turnover shall be either the total annual net turnover, or the corresponding type of income in accordance with the relevant Union law in the area of accounting, according to the most recent available consolidated accounts of the ESG rating provider approved by the relevant management body of the ultimate parent undertaking.
Amendment 442 #
2023/0177(COD)
Proposal for a regulation
Article 37 – paragraph 3
Article 37 – paragraph 3
3. The investigation officer shall have the power to request information in accordance with Article 30 and to conduct investigations and on-site inspections in accordance with Articles 31 and 32. When using those powers, the investigating officer shall comply with Article 29.
Amendment 443 #
2023/0177(COD)
Proposal for a regulation
Article 37 – paragraph 4 a (new)
Article 37 – paragraph 4 a (new)
4a. Upon completion of his investigation and before submitting the file with his findings to ESMA's Board of Supervisors, the investigating officer shall give the persons subject to investigation the opportunity to be heard on the matters being investigated. The investigating officer shall base his findings only on facts on which the persons subject to investigation have had the opportunity to comment.
Amendment 444 #
2023/0177(COD)
Proposal for a regulation
Article 37 – paragraph 6
Article 37 – paragraph 6
6. Upon submission of the file with his or her findings to ESMA’s Board of Supervisors, the investigation officer shall notify the persons who are subject to the investigation. The persons subject to investigation shall be entitled to have access to the file, subject to the legitimate interest of other persons in the protection of their business secrets. The right of access to the file shall not extend to confidential information affecting third parties.
Amendment 445 #
2023/0177(COD)
Proposal for a regulation
Article 37 – paragraph 7
Article 37 – paragraph 7
7. On the basis of the file containing the investigation officer’s findings and, where requested by the persons concerned after having heard those persons in accordance with Article 38, the Board of Supervisors of ESMA shall assessdecide whether one or more persons subject to the investigation have committed the infringements concerned and shall, where it comes to the conclusion that such infringements have been committed, take a supervisory measure as referred to in Article 33 and impose a fine in accordance with Article 34.
Amendment 457 #
2023/0177(COD)
Proposal for a regulation
Article 48 – paragraph 1
Article 48 – paragraph 1
1. ESG rating providers which provided their services at the date of entry into force of this Regulation shall notify ESMA within 3 months if they want to continue offering their services and apply for authorisation in accordance with Article 5. In that case, they shall apply for authorisation within 612 months after the publication date of application of this Regulatthe delegated acts referred to in Article 5 (3), Article 11 (8), Article 21 (3), Article 22 (3) Article 27 (2), 40 (2), in the Official Journal of the European Union.
Amendment 468 #
2023/0177(COD)
Proposal for a regulation
Article 50 – paragraph 2
Article 50 – paragraph 2
It shall apply from [618 months after the entry into force of this Regulation].
Amendment 476 #
2023/0177(COD)
Proposal for a regulation
Annex II – Part 1 – paragraph 1 – point b
Annex II – Part 1 – paragraph 1 – point b
(b) for each ESG rating in the form of a score, the identity of the persons responsible for the development of the rule-basestablished methodology, and the identity of the persons who have approved the rating methodology;
Amendment 481 #
2023/0177(COD)
Proposal for a regulation
Annex III – Part 1 – paragraph 1 – point b
Annex III – Part 1 – paragraph 1 – point b
Amendment 496 #
2023/0177(COD)
Proposal for a regulation
Annex III – Part 1 – paragraph 1 – point j
Annex III – Part 1 – paragraph 1 – point j
Amendment 10 #
2022/2140(INI)
Draft opinion
Recital A a (new)
Recital A a (new)
Aa. Whereas research into the causes of underrepresentation of women in the transport sector is necessary in order to ultimately formulate appropriate policies;
Amendment 64 #
2022/2140(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Considers that Member States and regional and local authorities should identify the causes of underrepresentation of women in the transport sector, should collect data and establish key indicators, such as gender-sensitive statistics and age- related data, in order to identify and overcome barriers for women in transport and to contribute to public transport design and policy initiatives related to transport workers; recalls that EU policy-making in the field of transport should be based on reliable, accessible and detailed data, together with impact assessments, so as to help design better EU policies;
Amendment 83 #
2022/2140(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Calls on the Commission to consider gender-related provisions in all relevant legislation, in order to ensure a safe working environment for women in all transport modes, as well as any necessary preventive and dissuasive measures (e.g. safe and secure parking areas); calls, furthermore, on the Commission to promote measures for emergency situations, such as camera surveillance systems and emergency call buttons in places where they are needed, such as unattended charging stations, enabling an immediate connection to local emergency services, as recently envisaged in the proposal for a new Alternative Fuels Infrastructure Regulation3; _________________ 3 Proposal for a Regulation of the European Parliament and of the Council on the deployment of alternative fuels infrastructure, and repealing Directive 2014/94/EU of the European Parliament and of the Council (COM(2021)0559)await the outcome of the study on the causes of underrepresentation before making policy proposals.
Amendment 103 #
2022/2140(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Takes the view that it is not right to adjust existing budgets for established objectives, not even if the adjustments are aimed at eliminating the underrepresentation of women in the transport sector. Points out that broadening objectives and adding them to programmes, projects and funds could jeopardise the achievement of the original objectives;
Amendment 116 #
2022/2061(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
Amendment 138 #
2022/2061(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes the ongoing work by the ECB on the digital euro; looks forward to the Commission’s legislative proposal and the ECB Governing Council’s decisionnotes that the ECB is in the process of developing and implementing the digital euro; calls on the ECB to consider in its decision-making process the possible risks onf the digital euro for the EU banking system;
Amendment 7 #
2022/2022(INI)
Motion for a resolution
Citation 11 a (new)
Citation 11 a (new)
— having regard to the study of the Commission issued in October 2021 entitled 'Long-distance cross-border passenger rail services'8a, _________________ 8a MOVE/2020/OP/0013
Amendment 10 #
2022/2022(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas High-Speed Rail is the holistic solution for the traditional transport challenges, i.e. fatalities, congestion and emissions, unlike other transport modes, e.g. airplane and car, who do not tackle multiple transport challenges;
Amendment 11 #
2022/2022(INI)
Motion for a resolution
Recital A b (new)
Recital A b (new)
Amendment 12 #
2022/2022(INI)
Motion for a resolution
Recital A c (new)
Recital A c (new)
Ac. whereas High-Speed Rail has a positive economic impact in terms of , e.g. accessibility and travel time saving, and studies referred to an average GDP increase of 8.5% in the case of Cologne- Frankfurt connection11a; _________________ 11a Gabriel M Ahlfeldt, Arne Feddersen, From periphery to core: measuring agglomeration effects using high-speed rail, Journal of Economic Geography, Volume 18, Issue 2, March 2018, Pages 355–390
Amendment 13 #
2022/2022(INI)
Motion for a resolution
Recital A d (new)
Recital A d (new)
Ad. whereas High-Speed Rail projects have a significant positive impact on employment opportunities, directly and indirectly;
Amendment 14 #
2022/2022(INI)
Motion for a resolution
Recital A e (new)
Recital A e (new)
Ae. whereas the High-Speed Rail passenger volumes nearly doubled between 2001 and 2018 proving that there is a demand for High-Speed Rail whenever it is provided12a; _________________ 12a Statistical pocketbook 2021 (europa.eu)
Amendment 15 #
2022/2022(INI)
Motion for a resolution
Recital A f (new)
Recital A f (new)
Af. Whereas the EU is about creating peace on the EU continent and a joint concrete and tangible project, such as a European HSR network, of which citizens directly experience the added value can contribute to this;
Amendment 25 #
2022/2022(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas the Connecting Europe Express event in 2021 showed the lack of infrastructure interoperability within the EU rail network by having to use three different types of rolling stock in order to adapt to the different gauge widths across the EU;
Amendment 86 #
2022/2022(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Stresses the utmost importance of building new infrastructure to meet the demand of High-Speed Rail; reminds that doubling high-speed rail traffic by 2030 will require at least a 75% increase in the current network length of 11,526 km13a; _________________ 13a CER Fact Sheet: The Voice of European Railways A TEN-T to make modal shift and the European Green Deal a reality
Amendment 89 #
2022/2022(INI)
Motion for a resolution
Paragraph 9 b (new)
Paragraph 9 b (new)
9b. Regrets the limited EU funding available through Connecting Europe Facility CEF II (2021-2027) which represent around 5%of the total investment needed to accomplish the TEN-T core network13a;
Amendment 90 #
2022/2022(INI)
Motion for a resolution
Paragraph 9 c (new)
Paragraph 9 c (new)
9 c. Calls for deploying other EU financial resources, such as the Recovery and Resilience Facility (RRF) and EU Emissions Trading System (EU ETS) revenues, to fund construction of the missing High-Speed Rail (HSR) links especially in the regions of less connectivity such as Eastern European and Western Balkan to overcome the HSR service imbalance across the EU;
Amendment 91 #
2022/2022(INI)
Motion for a resolution
Paragraph 9 d (new)
Paragraph 9 d (new)
9d. Welcomes the positive financing example of the European Investment Bank (EIB) by providing funds of EUR 890 million to develop the high-speed rail line between Madrid and Extremadura in Spain14a, calls for more similar actions on a larger scale across the EU; _________________ 14a https://www.eib.org/en/press/all/2020- 316-el-bei-financia-con-890-millones-de- euros-la-linea-ferroviaria-de-alta- velocidad-entre-madrid-y-extremadura
Amendment 92 #
2022/2022(INI)
Motion for a resolution
Paragraph 9 e (new)
Paragraph 9 e (new)
9e. Regrets the unambitious plan of setting 160km/hr as the minimum line speed in TEN-T network, which is not in line with the objective of making rail more competitive with other transport modes
Amendment 119 #
2022/2022(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Regrets that the preparation of the "go-everywhere” rolling stock specifications is moved to the next Technical Specifications for Interoperability (TSI)15a revision leading to a delay of 3 years, urges the Member States to prioritise the cooperation with the Agency for Railways (ERA) to give a boost to the elaboration of the “go- everywhere” rolling stock specifications; _________________ 15a The Technical Specifications for Interoperability (TSIs) define the technical and operational standards to ensure the interoperability of the railway system of the European Union. The TSI for telematics applications subsystem (TAP) concerns applications for passenger services, including systems providing passengers with information before and during the journey, reservation and payment systems, luggage management and management of connections between trains and with other modes of transport
Amendment 140 #
2022/2022(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Calls on the Member States to establish an open market and fair competition among the rail service providers that leads to improved performance of the public service provider and better prices and quality of the service for the passenger16a; _________________ 16a NTV-Italo : seven years and now success (https://mediarail.wordpress.com/ntv- italo-seven-years-and-now-success/)
Amendment 143 #
2022/2022(INI)
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16b. Calls on the Commission to establish a single European HSR network that connects all capital cities. Thus improving connectivity, economy, cohesion and freedom of movement for all;
Amendment 144 #
2022/2022(INI)
Motion for a resolution
Paragraph 16 c (new)
Paragraph 16 c (new)
16 c. Highlights that funding needs to be made more predictable for infrastructure development so that there are fewer temporary capacity restrictions and higher reliability in international rail; calls on Member States to provide multi- annual financing to their infrastructure managers, as this allows planned and internationally coordinated infrastructure maintenance and development over a period of several years;
Amendment 163 #
2022/2022(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19a. Emphasises the significant unpredictable fluctuation of infrastructure charges which makes business planning problematic, reminds that one of the calculation for track charges is based on scarcity which is caused by the lack of sufficient infrastructure capacity17a; _________________ 17a Long-distance cross-border passenger rail services - Commission Study (MOVE/2020/OP/0013)
Amendment 169 #
2022/2022(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Acknowledges that making long- distance rail passenger services more attractive requires more accessible smart ticketing and, in some form or another, appropriate protection for passengers in the event of delays or missed connections for single options and through tickets, ensuring, as a minimum, journey continuation;
Amendment 175 #
2022/2022(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Stresses the importance of data sharing by operators in an open-source and accessible way, so that markets can be encouraged to come up with a best value solution;
Amendment 193 #
2022/2022(INI)
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Stresses the need to prioritize in order to achieve the desired modal shift to rail; notes the over-emphasis on passenger rights regulation (14 years of discussion) which can distract stakeholders from the main objective; recalls that the emphasis on improving services and the pursuit of adequate, affordable, efficient, reliable and available services will reduce the number of people wishing to make use of their passenger rights;
Amendment 200 #
2022/2022(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25a. Calls on the Member States to reconsider and prioritize the use of public funds to improve public transport, e.g. rail service, which can carry large passenger volumes to meet the ever-growing demand for transportation;
Amendment 202 #
2022/2022(INI)
Motion for a resolution
Paragraph 25 b (new)
Paragraph 25 b (new)
25b. Highlights the importance of the systemic thinking and holistic approach for formulating transport strategies. So that a shift of the problem can be avoided;
Amendment 204 #
2022/2022(INI)
Motion for a resolution
Paragraph 25 c (new)
Paragraph 25 c (new)
25 c. Highlights the need of a systemic approach for dealing with transport challenges to avoid shifting of the problems, emphasises that subsidising electrical vehicles will lead to further financial burdens to provide a vast charging infrastructure;
Amendment 205 #
2022/2022(INI)
Motion for a resolution
Paragraph 25 d (new)
Paragraph 25 d (new)
25d. Highlights the vital role rail transport plays to keep the transport functions even in crisis such as wars, Ukraine case, by accommodating enormous influx of passengers in short period;
Amendment 218 #
2022/2022(INI)
Motion for a resolution
Paragraph 28 a (new)
Paragraph 28 a (new)
28a. Believes that a single European High Speed Rail network can be important for connecting people, especially young people. Improving access to education and jobs will lead to prosperity in Europe.
Amendment 222 #
2022/0403(COD)
Proposal for a regulation
Recital 14
Recital 14
(14) Regulation (EU) 2019/834 of the European Parliament and of the Council34 amended Regulation (EU) No 648/2012 to introduce, inter alia, an exemption from reporting requirements for OTC derivative transactions between counterparties within a group, where at least one of the counterparties is a non-financial counterparty. That exemption has been introduced because intragroup transactions involving non-financial counterparties represent a relatively small fraction of all OTC derivative transactions and are used primarily for internal hedging within groups. As such, those transactions do not significantly contribute to systemic risk and interconnectedness with the rest of the financial system. The exemption for those transactions from reporting requirements has, however, limited the ability of ESMA, the ESRB and other authorities to clearly identify and assess the risks taken by non- financial counterparties. To ensure more visibility on intragroup transactions, considering their potential interconnectedness with the rest of the financial system and taking into account recent market developments, in particular strains on energy markets as a result of Russia’s unprovoked and unjustified aggression against Ukraine, that exemption should be removed. __________________ 34 Regulation (EU) 2019/834 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No 648/2012 as regards the clearing obligation, the suspension of the clearing obligation, the reporting requirements, the risk-mitigation techniques for OTC derivative contracts not cleared by a central counterparty, the registration and supervision of trade repositories and the requirements for trade repositories (OJ L 141, 28.5.2019, p. 42).
Amendment 252 #
2022/0403(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Regulation (EU) No 648/2012
Articles 7 a and 7 b
Articles 7 a and 7 b
Amendment 293 #
2022/0403(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a
Article 1 – paragraph 1 – point 5 – point a
Regulation (EU) No 648/2012
Article 9 – paragraph 1 – subparagraphs 3 and 4
Article 9 – paragraph 1 – subparagraphs 3 and 4
Amendment 303 #
2022/0403(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Regulation (EU) No 648/2012
Article 10 − paragraph 2 a
Article 10 − paragraph 2 a
2a. The relevant competent authoritiepersons of the non-financial counterparty and of the other entities within the group shall establish cooperation procedures to ensure the effective calculation of the positions and evaluate and assess the level of exposure in OTC derivative contracts at the group level.
Amendment 335 #
2022/0403(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 11 – point b
Article 1 – paragraph 1 – point 11 – point b
Regulation (EU) No 648/2012
Article 17 – paragraph 2
Article 17 – paragraph 2
2. The applicant CCP shall provide all information necessary to demonstrate that it has established, at the time of the initial authorisation, all the necessary arrangements to meet the requirements laid down in this Regulation. Where an applicant CCP is requesting authorisation pursuant to Article 15, it shall provide all information necessary to demonstrate that at the time such extension of authorisation under Article 15 is granted, it will have established all additional arrangements to meet any requirements laid down in this Regulation in respect of such new authorisation.
Amendment 350 #
2022/0403(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 11 – point d
Article 1 – paragraph 1 – point 11 – point d
(b) is notified as a system pursuant to Directive 98/26/EC. In respect of point (a) of the first subparagraph of Article 17(4), where an applicant CCP is requesting authorisation pursuant to Article 15, the competent authority may rely on the assessment of any requirement previously made pursuant to this article to the extent that no change to its assessment of such requirement would arise as a result of such new request for authorisation.
Amendment 469 #
2022/0403(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 30 – point a
Article 1 – paragraph 1 – point 30 – point a
Regulation (EU) No 648/2012
Article 38 – paragraph 7
Article 38 – paragraph 7
Clearing members providing clearing services and clients providing clearing services shall informprovide to their clients in a clear and transparent manner offormation on the way the margin models of the CCP work, including in stress situations, and provide them with acces to CCP simulations of the margin requirements they mayat they might be subject to under different scenarios. This shall include both the margins required by the CCP and any additional margins required by the clearing members and theWhere relevant, they should also provide simulations of any additional margins required by the clearing members and the clients providing clearing services themselves. A CCP shall provide its clearing members providing clearing services and clients providing clearing services with any information they require to comply with the provisions under the first subparagraph, unless that information is already provided pursuant to the provisions as referred to in paragraphs 1 to 7 of this Article. Upon request by one of its clearing members providing clearing services and clients providing clearing services, themselves.; CCP shall transmit that information without delay.
Amendment 481 #
2022/0403(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 33 – point a
Article 1 – paragraph 1 – point 33 – point a
Regulation (EU) No 648/2012
Article 46 – paragraph 1
Article 46 – paragraph 1
1. A CCP shall accept highly liquid collateral with minimal credit and market risk to cover its initial and ongoing exposure to its clearing members. A CCP may accept public guarantees or public bank or commercial bank guarantees which may be uncollateralised, provided that they are unconditionally available upon request within the liquidation period referred to in Article 41. Where bank guarantees are provided to a CCP, that CCP shall take them into account when calculating its exposure to the bank that is also a clearing member. The CCP shall apply adequate haircuts to asset values and guarantees to reflect the potential for their value to decline over the interval between their last revaluation and the time by which they can reasonably be assumed to be liquidated. It shall take into account the liquidity risk following the default of a market participant and the concentration risk on certain assets that may result in establishing the acceptable collateral and the relevant haircuts. When revising the level of the haircuts it applies to the assets it accepts as collateral, the CCP shall take into account any potential procyclicality effects of such revisions.;
Amendment 493 #
2022/0403(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34 – point a
Article 1 – paragraph 1 – point 34 – point a
Regulation (EU) No 648/2012
Article 49 – paragraph 1 – subparagraph 2
Article 49 – paragraph 1 – subparagraph 2
The adopted models, including any significant change thereto, shall be subject to an opinion of the college in accordance with this Article. Where a CCP intends to adopt a change that does not qualify as non-significant pursuant to paragraph 1a of Article 49 and does not qualify significant under paragraph 1g of Article 49, such change shall be directly implemented by the CCP and shall not be subject to the procedures referred to in paragraph 49.
Amendment 521 #
2022/0403(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34 – point c
Article 1 – paragraph 1 – point 34 – point c
Regulation (EU) No 648/2012
Article 49 – paragraph 5
Article 49 – paragraph 5
ESMA shall, in close cooperation with the ESCB, develop draft regulatory technical standards specifying the list of required documents that shall accompany an application for validation pursuant to paragraph 1a and shall specify the information such documents shall contain to demonstrate that the CCP complies with all relevant requirements of this Regulat the time such authorisation under Article 49 is granted, will have established all additional arrangements to meet any requirements laid down in this Regulation in respect of such new authorisation.
Amendment 3 #
2022/0212(BUD)
Draft opinion
Paragraph 1
Paragraph 1
1. Calls for the 2023 EU budget to contribute to achieving the priorities set by the European Semester; is concerned, however, at the number thereof and the resources needed for this at the disposal of the Member States and the EU;
Amendment 38 #
2022/0212(BUD)
Draft opinion
Paragraph 6
Paragraph 6
6. Calls for the budget to support the completion of the Capital Markets Union, including by enablingestablishment of an economic environment which will improve access to finance for SMEs, start-ups as well as green and digital innovative businesses and support investment in innovation;
Amendment 52 #
2022/0212(BUD)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Underscores the importance of carrying out tangible projects that give EU citizens direct and concrete benefits;
Amendment 54 #
2022/0212(BUD)
Draft opinion
Paragraph 7 b (new)
Paragraph 7 b (new)
Amendment 59 #
2022/0212(BUD)
Draft opinion
Paragraph 7 c (new)
Paragraph 7 c (new)
7c. Points to the temporary and exceptional nature of the Recovery and Resilience Facility and its unique objective, i.e. to make it possible to respond to and recover from the pandemic; considers that adding other objectives is at odds with the original principles;
Amendment 60 #
2022/0212(BUD)
Draft opinion
Paragraph 7 d (new)
Paragraph 7 d (new)
7d. Stresses that there should be a thorough analysis of the role of the EU in the emergence and detection of crises and in responding to them; takes the view that fostering executive responsibility at all levels in the EU needs to be addressed, and therefore is not in favour of adding other objectives; stresses that many crises may yet occur, that it is unclear how long the current crises will persist, and that resources are not infinite;
Amendment 12 #
2022/0147(COD)
Proposal for a directive
–
–
The Committee on Economic and Monetary Affairs calls on the Committee on Internal Market and Consumer Protection, as the committee responsible, to propose rejection of the Commission proposal.
Amendment 15 #
2022/0147(COD)
Proposal for a directive
Recital 3
Recital 3
(3) Within the framework of the internal market, in order to safeguard freedom of choice, a high degree of consumer protection in the area of financial services contracts concluded at a distance is required in order to enhance consumer welfare and confidence in distance selling.
Amendment 19 #
2022/0147(COD)
Proposal for a directive
Recital 6
Recital 6
(6) Digitalisation has contributed to market developments that were not foreseen at the time of the adoption of Directive 2002/65/EC. In fact, the rapid technological developments since then have brought significant changes to the financial services market. Although many sector specific acts have been adopted on the Union level, financial services offered to consumers have evolved and diversified considerably. New products have appeared, in particular in the online environment, and their use continues to develop, often in a fast and unpredicted manner. In this regard, the horizontal application of Directive 2002/65/EC remains relevant. The application of Directive 2002/65/EC to consumer financial services not regulated by sector specific Union legislation has meant that, a set of harmonised rules apply to the benefit of consumers and traders. This ‘safety net’ feature, contributes to ensuring a highn adequate level of consumer protection while ensuring a level playing field among traders.
Amendment 20 #
2022/0147(COD)
Proposal for a directive
Recital 10
Recital 10
(10) While not all the provisions of Directive 2011/83/EU should apply to financial services contracts concluded at a distance due to the specific nature of those services, a number of provisions of Directive 2011/83/EU, such as relevant definitions, rules on additional payments, on enforcement and penalties, should also apply to financial services contracts concluded at a distance. The application of those provisions ensures complementarity between the different types of contracts concluded at a distance. The extension of the application of the rules on penalties of Directive 2011/83/EU will ensure that effective, proportionate and dissuasive fines are imposed on traders responsible for widespread infringements or widespread infringements with a Union dimension.
Amendment 21 #
2022/0147(COD)
Proposal for a directive
Recital 11
Recital 11
(11) A dedicated chapter in Directive 2011/83/EU should contain the still relevant and necessary rules of Directive 2002/65/EC, in particular concerning the right to pre-contractual information and the right to withdrawal, and rules ensuring online fairness when financial service contracts are concluded at a distance.
Amendment 22 #
2022/0147(COD)
Proposal for a directive
Recital 12
Recital 12
(12) Since distance financial services contracts are most commonly concluded by electronic means, rules on ensuring online fairness when financial services are contracted at a distance should contribute to the achievement of the goals laid down in Article 114 TFEU and Article 38 of the Charter of the Fundamental Rights of the EU. The rule on adequate explanations should ensure added transparency and provide the consumer with the possibility to request human intervention when he or she interacts with the trader through online interfaces, such as a chatbox or similar tools. The trader should be prohibited to deploy measures in his or her online, roboadvice, interface that could distort or impair the consumers’ ability to make a free, autonomous and informed decision or choicetive or similar tools.
Amendment 24 #
2022/0147(COD)
Proposal for a directive
Recital 13
Recital 13
(13) Certain consumer financial services are governed by specific Union acts, which continue to apply to those financial services. In order to ensure legal certainty and avoid duplication of the obligations, it should be clarified that where another Union act governing specific financial services contains rules on pre-contractual information or on the exercise of the right of withdrawal, only the respective provisions of those other Union acts should apply to those specific consumer financial services unless provided otherwise in those acts. For instance, when Article 14(6) of Directive 2014/17/EU of the European Parliament and of the Council applies, it should be up to the Member State to decide whether to apply either a reflection period or a right of withdrawal to consumer mortgage credit agreements and so the rules on the right of withdrawal laid down in this Directive do not apply. When Article 186 of Directive 2009/138/EC of the European Parliament and of the Council19 applies, the rules concerning the 'cancellation period' laid down in Directive 2009/138/EC apply and not the rules on the right of withdrawal laid down in this Directive and when Article 14(6) of Directive 2014/17/EU of the European Parliament and of the Council20 applies, the rules on the right of withdrawal under this Directive should not apply. Likewise, certain Union acts governing specific financial services21 contain extensive and developed rules designed to ensure that consumers are able to understand the essential characteristics of the proposed contract. Furthermore, certain Union acts governing specific financial services, such as Directive 2014/17/EU on credit agreements for consumers relating to residential immovable property22 , already lay down rules on adequate explanations to be provided by the traders to the consumers with respect to the proposed contract. In order to ensure legal certainty, the rules on adequate explanations set out in this Directive should not apply to financial services falling under Union acts governing specific financial services that contain rules on the information to be provided to the consumer prior to the conclusion of the contract. __________________ 19 Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (OJ L 335, 17.12.2009, p. 1). 20 Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010 (OJ L 60, 28.2.2014, p. 34). 21 Such as, Regulation (EU) 2019/1238 of the European Parliament and of the Council of 20 June 2019 on a pan- European Personal Pension Product (PEPP) (OJ L 198, 25.7.2019, p. 1), Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (OJ L 173, 12.6.2014, p. 349), Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution (OJ L 26, 2.2.2016, p. 19), Directive 2014/92/EU of the European Parliament and of the Council of 23 July 2014 on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features (OJ L 257, 28.8.2014, p. 214) 22 Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010 (OJ L 60, 28.2.2014, p. 34)
Amendment 27 #
2022/0147(COD)
Proposal for a directive
Recital 17
Recital 17
(17) The use of means of distance communications should not lead to an unwarranted restriction on the information provided to the consumer. In the interests of transparency, requirements should be laid down with regard to when the information should be provided to the consumer prior to the conclusion of the distance contract and how that information should reach the consumer. In order to be able to make their decisions in full knowledge of the facts, consumers should receive the information at least one day prior to the conclusion of the distance contract. Only in exceptional cases can the information be provided less than a day before the conclusion of the distance contract for financial service. In case the contract is concluded less than one day before, the trader, within the established timeframe, should be obliged to remind the consumer about the possibility to withdraw from the distance contract for financial service.
Amendment 30 #
2022/0147(COD)
Proposal for a directive
Recital 18
Recital 18
(18) The information requirements should be modernised and updated to include, for example, the email address of the trader or other safe electronic means of communication and the information on the risk and reward related to certain consumer financial services. Consumers should also be clearly informed when the price presented to them is personalised on the basis of automated processing.
Amendment 31 #
2022/0147(COD)
Proposal for a directive
Recital 20
Recital 20
Amendment 34 #
2022/0147(COD)
Proposal for a directive
Recital 25
Recital 25
(25) For distance contracts concluded by electronic means, the trader shcould provide the consumer with the possibility to use a withdrawal button. In order for ensure the effective use of the withdrawal button, the trader should ensure that it is visible and, when the consumer uses the button, the trader should adequately document its use. In order to avoid the unintended use of the withdrawal button by the consumer, the confirmation should be preceded by f.e. the control warning or be accompanied by other safeguard.
Amendment 39 #
2022/0147(COD)
Proposal for a directive
Recital 26
Recital 26
(26) Consumers may need assistance in order to decide which financial service is the most appropriate for his or her needs and financial situation. Therefore, Member States should ensure that before the conclusion of a financial service contract at a distance, traders should provide such assistance in relation to the financial services which they offer to the consumer, by providing adequate explanations about the relevant information, including the essential characteristics of the products proposed. The obligation of providing adequate explanations is particularly important when consumers intend to conclude a financial service contract at a distance and the trader provides explanations through online tools. In order to ensure that the consumer understands the effects that the contract may have on his or her economic situation, the consumer should always be able to obtain human intervention on behalf of the trader. The human intervention could be limited, for example, to the opening hours of the trader.
Amendment 41 #
2022/0147(COD)
Proposal for a directive
Recital 27
Recital 27
Amendment 48 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point a
Article 1 – paragraph 1 – point 1 – point a
Directive 2011/83/EU
Article 3 – paragraph 1b – subparagraph 1
Article 3 – paragraph 1b – subparagraph 1
‘(1b) ‘Articles 1 and 2, Article 3(2), (5) and (6), Article 4, Articles 16a to 16e, Article 19, Articles 21 to 23, Article 24(1), (2), (3) and (42) and Articles 25, 26 and 2630a shall apply to distance contracts concluded between a trader and a consumer for the supply of financial services.
Amendment 51 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point a
Article 1 – paragraph 1 – point 1 – point a
Directive 2011/83/EU
Article 3 – paragraph 1b – subparagraph 2 a (new)
Article 3 – paragraph 1b – subparagraph 2 a (new)
In case there is no initial service agreement but the successive operations or the separate operations of the same nature performed over time are performed between the same contractual parties, Article 16a applies only when the first operation is performed. Where, however, no operation of the same nature is performed for more than one year, the next operation will be deemed to be the first in a new series of operations and, accordingly, Articles 16a shall apply.
Amendment 58 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16a – paragraph 1 – point b
Article 16a – paragraph 1 – point b
(b) the geographical address at which the trader is established as well as the trader’s telephone number, ands well as email address or other mean of safe electronic communication; in addition, where the trader provides other means of online communication which guarantee that the consumer can keep any written correspondence, including the date and time of such correspondence, with the trader on a durable medium, the information shall also include details of those other means; all those means of communication provided by the trader shall enable the consumer to contact the trader quickly and communicate with him efficientmmunicate with the trader effectively; where applicable, the trader shall also provide the geographical address and identity of the trader on whose behalf he is acting;
Amendment 64 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16a – paragraph 1 – point g
Article 16a – paragraph 1 – point g
(g) the total price to be paid by the consumer to the trader for the financial service, including all known related fees, charges and expenses, and all taxes paid via the trader or, when an exact price cannot be indicated, the basis for the calculation of the price enabling the consumer to verify it; the total price to be paid does not include the sanctions and enforcement, judicial and other fees in case of breach of the contract by the consumer;
Amendment 67 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16a – paragraph 1 – point h
Article 16a – paragraph 1 – point h
(h) where applicable the information, that the price was personalised on the basis of automated decision-making;
Amendment 72 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16a – paragraph 1 – point o
Article 16a – paragraph 1 – point o
Amendment 74 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
(p) the existence or absence of a right of withdrawal and, where the right of withdrawal exists, its duration and the conditions for exercising it including information on the amountdescription of fees and sanctions which the consumer may be required to pay, as well as the consequences of non-exercise of that right;
Amendment 75 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16a – paragraph 1 – point s
Article 16a – paragraph 1 – point s
(s) practical instructions for exercising the right of withdrawal indicating, inter alia, the address or email address to which the notification of a withdrawal should be sent and for financial contracts concluded by electronic means,or information about the existence and placement of the withdrawal button, referred to in Article 16d;
Amendment 80 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16a – paragraph 1a (new)
Article 16a – paragraph 1a (new)
1a. Information referred to in paragraph 1, points (a), (f), (g), and (p) shall be displayed on the first page in a prominent way.
Amendment 91 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16a – paragraph 3 – subparagraph 1
Article 16a – paragraph 3 – subparagraph 1
The trader shall provide the information referred to in paragraph 1 at least one day before the consumer is bound by any distance contract.
Amendment 92 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16a – paragraph 3 – subparagraph 2
Article 16a – paragraph 3 – subparagraph 2
Amendment 105 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16b – paragraph 1 a (new)
Article 16b – paragraph 1 a (new)
1a. The right of withdrawal shall in any event lapse one year and 14 calendar days after the conclusion of the distance contract for financial services.
Amendment 108 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16b – paragraph 2 – point b
Article 16b – paragraph 2 – point b
(b) travel and baggage insurance policies or similaother short-term insurance policies of less than onetwo month's' s duration;
Amendment 109 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16b – paragraph 2 – point c a (new)
Article 16b – paragraph 2 – point c a (new)
(ca) short-term contract of duration less than 1 month.
Amendment 110 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16b – paragraph 5
Article 16b – paragraph 5
Amendment 111 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16b – paragraph 5 – subparagraph 1
Article 16b – paragraph 5 – subparagraph 1
Member States shall ensuremay encourage the traders that, for distance contracts concluded by electronic means, beside other means to withdraw from the distance contract, the trader provides also a possibility to use a withdrawal button in order to facilitate the consumer’s exercise of the right of withdrawal. Such button shall be clearly labelled with the words ‘Withdraw from Contract’ or a corresponding unambiguous formulation. The validation of the withdrawal by using the withdrawal button shall be safeguarded, for example by the prior warning that another validation leads to final withdrawal of the contract.
Amendment 119 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16b – paragraph 5 – subparagraph 2
Article 16b – paragraph 5 – subparagraph 2
Amendment 126 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16c – paragraph 1 – introductory part
Article 16c – paragraph 1 – introductory part
1. Where the consumer exercises the right of withdrawal under Article 16b, the consumer may only be required to pay, without any undue delayin accordance with paragraph 4, for the service actually provided by the trader in accordance with the distance contract. The amount payable shall not:
Amendment 132 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16d – paragraph 2
Article 16d – paragraph 2
Amendment 136 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16d – paragraph 3
Article 16d – paragraph 3
3. Member States shall ensurecourage traders that, in case the trader uses online tools, the consumer shallmay have a right to request and obtain human intervention.
Amendment 137 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/83/EU
Article 16e
Article 16e
Additional protection regarding online Without prejudice to Directive 2005/29/EC of the European Parliament and of the Council24 and Council Directive 93/13/EEC25 , Member States shall adopt measures requiring that traders, when concluding financial services contracts at a distance, do not use the structure, design, function or manner of operation of their online interface in a way that could distort or impair consumers’ ability to make a free, autonomous and informed decision or choice. __________________ 24 Directive 2005/29/EC of the European Parliament and of the Council of 11 May 2005 concerning unfair business-to- consumer commercial practices in the internal market and amending Council Directive 84/450/EEC, Directives 97/7/EC, 98/27/EC and 2002/65/EC of the European Parliament and of the Council and Regulation (EC) No 2006/2004 of the European Parliament and of the Council (‘Unfair Commercial Practices Directive’) (OJ L 149, 11.6.2005, p. 22). 25 Council Directive 93/13/EEC of 5 April 1993 on unfair terms in consumer contracts (OJ L 95, 21.4.1993, p. 29).rticle 16e deleted interfaces
Amendment 148 #
2022/0147(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 a (new)
Article 1 – paragraph 1 – point 2 a (new)
Directive 2011/83/EU
Article 30
Article 30
Amendment 151 #
2022/0147(COD)
Proposal for a directive
Article 2 – paragraph 1 – subparagraph 2
Article 2 – paragraph 1 – subparagraph 2
They shall apply those provisions from [the date after 2436 months from adoption].
Amendment 100 #
2022/0051(COD)
Proposal for a directive
–
–
The Committee on Economic and Monetary Affairs calls on the Committee on Legal Affairs, as the committee responsible, to propose rejection of the Commission proposal for a Directive on Corporate Sustainability Due Diligence.
Amendment 102 #
2022/0051(COD)
Proposal for a directive
Recital 4
Recital 4
(4) The behaviour of companies across all sectors of the economy is key to success in the Union’s sustainability objectives as Union companies, especially large ones, rely on global value chains. It is also in the interest of companies to protect human rights and the environment, in particular given the rising concern of consumers and investors regarding these topics. Several initiatives fostering enterprises which support value- oriented transformation already exist on Union77 , as well as national78 level. __________________ 77 ‘Enterprise Models and the EU agenda’, CEPS Policy Insights, No PI2021-02/ January 2021. 78 E.g. https://www.economie.gouv.fr/entreprises/ societe-mission
Amendment 108 #
2022/0051(COD)
Proposal for a directive
Recital 5
Recital 5
(5) Existing international standards on responsible business conduct specify that companies should protect human rights and set out how they should address the protection of the environment across their operations and value chains. The United Nations Guiding Principles on Business and Human Rights79 recognise the responsibility of companies to exercise human rights due diligence by identifying, preventing and mitigating the adverse impacts of their operations on human rights and by accounting for how they address those impacts. Those Guiding Principles state that businesses should avoid infringing human rights and should address adverse human rights impacts that they have caused, contributed to or are linked with in their own operations, subsidiaries and through their direct and indirect business relationships. __________________ 79 United Nations’ “Guiding Principles on Business and Human Rights: Implementing the United Nations ‘Protect, Respect and Remedy’ Framework”, 2011, available at https://www.ohchr.org/documents/publicati ons/guidingprinciplesbusinesshr_en.pdf.
Amendment 123 #
2022/0051(COD)
Proposal for a directive
Recital 14
Recital 14
(14) This Directive aims to ensure that companies active in the internal market contribute to sustainable development and the sustainability transition of economies and societies through the identification, prevention and mitigation, bringing to an end and minimisation of potential or actual adverse human rights and environmental impacts connected with companies’ own operations, subsidiaries and valuesupply chains.
Amendment 127 #
2022/0051(COD)
Proposal for a directive
Recital 15
Recital 15
(15) Companies should take appropriate steps to set up and carry out due diligence measures, with respect to their own operations, their subsidiaries, as well as their established direct and indirect business relationships throughout their valuesupply chains in accordance with the provisions of this Directive. This Directive should not require companies to guarantee, in all circumstances, that adverse impacts will never occur or that they will be stopped. For example with respect to business relationships where the adverse impact results from State intervention, the company might not be in a position to arrive at such results. Therefore, the main obligations in this Directive should be ‘obligations of means’. The company should take the appropriate measures which can reasonably be expected to result in prevention or minimisation of the adverse impact under the circumstances of the specific case. Account should be taken of the specificities of the company’s valuesupply chain, sector or geographical area in which its valuesupply chain partners operate, the company’s power to influence its direct and indirect business relationships, and whether the company could increase its power of influence.
Amendment 131 #
2022/0051(COD)
Proposal for a directive
Recital 17
Recital 17
(17) Adverse human rights and environmental impact occur in companies’ own operations, subsidiaries, products, and in their value chains, in particular at the level of raw material sourcing, manufacturing, or at the level of product or waste disposal. In order for the due diligence to have a meaningful impact, it should cover human rights and environmental adverse impacts generated throughout the life-cycle of production and use and disposal of product or provision of services, at the level of own operations, subsidiaries and in valuesupply chains.
Amendment 136 #
2022/0051(COD)
Proposal for a directive
Recital 18
Recital 18
(18) The valuesupply chain should cover activities related to the production of a good or provision of services by a company, including the development of the product or the service and the use and disposal of the product as well as the related activities of established business relationships of the company. It should encompass upstream established direct and indirect business relationships that design, extract, manufacture, transport, store and supply raw material, products, parts of products, or provide services to the company that are necessary to carry out the company’s activities, and also downstream relationships, including established direct and indirect business relationships, that use or receive products, parts of products or services from the company up to the end of life of the product, including inter alia the distribution of the product to retailers, the transport and storage of the product, dismantling of the product, its recycling, composting or landfilling.
Amendment 143 #
2022/0051(COD)
Proposal for a directive
Recital 19
Recital 19
(19) As regards regulated financial undertakings providing loan, credit, or other financial services, “valuesupply chain” with respect to the provision of such services should be limited to the activities of the clients receiving such services, and the subsidiaries thereof whose activities are linked to the contract in question. Clients that are households and natural persons not acting in a professional or business capacity, as well as small and medium sized undertakings, should not be considered to be part of the valuesupply chain. The activities of the companies or other legal entities that are included in the valuesupply chain of that client should not be covered.
Amendment 150 #
2022/0051(COD)
Proposal for a directive
Recital 20
Recital 20
(20) In order to allow companies to properly identify the adverse impacts in their valuesupply chain and to make it possible for them to exercise appropriate leverage, the due diligence obligations should be limited in this Directive to established business relationships. For the purpose of this Directive, established business relationships should mean such direct and indirect business relationships which are, or which are expected to be lasting, in view of their intensity and duration and which do not represent a negligible or ancillary part of the valuesupply chain. The nature of business relationships as “established” should be reassessed periodically, and at least every 12 months. If the direct business relationship of a company is established, then all linked indirect business relationships should also be considered as established regarding that company.
Amendment 157 #
2022/0051(COD)
Proposal for a directive
Recital 21
Recital 21
(21) Under this Directive, EU companies with more than 500 employees on average and a worldwide net turnover exceeding EUR 150 million in the financial year preceding the last financial year should be required to comply with due diligence. As regards companies which do not fulfil those criteria, but which had more than 250 employees on average and more than EUR 40 million worldwide net turnover in the financial year preceding the last financial year and which operate in one or more high-impact sectors, due diligencea simplified due diligence reporting obligation should apply 2 years after the end of the transposition period of this directive, in order to provide for a longer adaptation period. In order to ensure a proportionate burden, companies operating in such high- impact sectors should be required to comply with more targeted due diligence focusing on severe adverse impacts. Temporary agency workers, including those posted under Article 1(3), point (c), of Directive 96/71/EC, as amended by Directive 2018/957/EU of the European Parliament and of the Council103 , should be included in the calculation of the number of employees in the user company. Posted workers under Article 1(3), points (a) and (b), of Directive 96/71/EC, as amended by Directive 2018/957/EU, should only be included in the calculation of the number of employees of the sending company. __________________ 103 Directive (EU) 2018/957 of the European Parliament and of the Council of 28 June 2018 amending Directive 96/71/EC concerning the posting of workers in the framework of the provision of services (OJ L 173, 9.7.2018, p. 16).
Amendment 164 #
2022/0051(COD)
Proposal for a directive
Recital 23
Recital 23
(23) In order to achieve fully the objectives of this Directive addressing human rights and adverse environmental impacts with respect to companies’ operations, subsidiaries and valuesupply chains, third-country companies with significant operations in the EU should also be covered. More specifically, the Directive should apply to third-country companies which generated a net turnover of at least EUR 150 million in the Union in the financial year preceding the last financial year or a net turnover of more than EUR 40 million but less than EUR 150 million in the financial year preceding the last financial year in one or more of the high- impact sectors, as of 2 years after the end of the transposition period of this Directive.
Amendment 171 #
2022/0051(COD)
Proposal for a directive
Recital 27
Recital 27
(27) In order to conduct appropriate human rights, and environmental due diligence with respect to their operations, their subsidiaries, and their valuesupply chains, companies covered by this Directive should integrate due diligence into corporate policies, identify, prevent and mitigate as well as bring to an end and minimise the extent of potential and actual adverse human rights and environmental impacts, establish and maintain a complaints procedure, monitor the effectiveness of the taken measures in accordance with the requirements that are set up in this Directive and communicate publicly on their due diligence. In order to ensure clarity for companies, in particular the steps of preventing and mitigating potential adverse impacts and of bringing to an end, or when this is not possible, minimising actual adverse impacts should be clearly distinguished in this Directive.
Amendment 180 #
2022/0051(COD)
Proposal for a directive
Recital 30
Recital 30
(30) Under the due diligence obligations set out by this Directive, a company should identify actual or potential adverse human rights and environmental impacts. In order to allow for a comprehensive identification of adverse impacts, such identification should be based on quantitative and qualitative information. For instance, as regards adverse environmental impacts, the company should obtain information about baseline conditions at higher risk sites or facilities in valuesupply chains. Identification of adverse impacts should include assessing the human rights, and environmental context in a dynamic way and in regular intervals: prior to a new activity or relationship, prior to major decisions or changes in the operation; in response to or anticipation of changes in the operating environment; and periodically, at least every 12 months, throughout the life of an activity or relationship. Regulated financial undertakings providing loan, credit, or other financial services should identify the adverse impacts only at the inception of the contract. When identifying adverse impacts, companies should also identify and assess the impact of a business relationship’s business model and strategies, including trading, procurement and pricing practices. Where the company cannot prevent, bring to an end or minimize all its adverse impacts at the same time, it should be able to prioritize its action, provided it takes the measures reasonably available to the company, taking into account the specific circumstances.
Amendment 189 #
2022/0051(COD)
Proposal for a directive
Recital 34
Recital 34
(34) So as to comply with the prevention and mitigation obligation under this Directive, companies should be required to take the following actions, where relevant. Where necessary due to the complexity of prevention measures, companies should develop and implement a prevention action plan. Companies should seek to obtain contractual assurances from a direct partner with whom they have an established business relationship that it will ensure compliance with the code of conduct or the prevention action plan, including by seeking corresponding contractual assurances from its partners to the extent that their activities are part of the companies’ valuesupply chain. The contractual assurances should be accompanied by appropriate measures to verify compliance. To ensure comprehensive prevention of actual and potential adverse impacts, companies should also make investments which aim to prevent adverse impacts, provide targeted and proportionate support for an SME with which they have an established business relationship such as financing, for example, through direct financing, low-interest loans, guarantees of continued sourcing, and assistance in securing financing, to help implement the code of conduct or prevention action plan, or technical guidance such as in the form of training, management systems upgrading, and collaborate with other companies.
Amendment 198 #
2022/0051(COD)
Proposal for a directive
Recital 36
Recital 36
(36) In order to ensure that prevention and mitigation of potential adverse impacts is effective, companies should prioritize engagement with business relationships in the valuesupply chain, instead of terminating the business relationship, as a last resort action after attempting at preventing and mitigating adverse potential impacts without success. However, the Directive should also, for cases where potential adverse impacts could not be addressed by the described prevention or mitigation measures, refer to the obligation for companies to refrain from entering into new or extending existing relations with the partner in question and, where the law governing their relations so entitles them to, to either temporarily suspend commercial relationships with the partner in question, while pursuing prevention and minimisation efforts, if there is reasonable expectation that these efforts are to succeed in the short-term; or to terminate the business relationship with respect to the activities concerned if the potential adverse impact is severe. In order to allow companies to fulfil that obligation, Member States should provide for the availability of an option to terminate the business relationship in contracts governed by their laws. It is possible that prevention of adverse impacts at the level of indirect business relationships requires collaboration with another company, for example a company which has a direct contractual relationship with the supplier. In some instances, such collaboration could be the only realistic way of preventing adverse impacts, in particular, where the indirect business relationship is not ready to enter into a contract with the company. In these instances, the company should collaborate with the entity which can most effectively prevent or mitigate adverse impacts at the level of the indirect business relationship while respecting competition law.
Amendment 201 #
2022/0051(COD)
Proposal for a directive
Recital 37
Recital 37
(37) As regards direct and indirect business relationships, industry cooperation, industry schemes and multi- stakeholder initiatives can help create additional leverage to identify, mitigate, and prevent adverse impacts. Therefore it should be possible for companies to rely on such initiatives to support the implementation of their due diligence obligations laid down in this Directive to the extent that such schemes and initiatives are appropriate to support the fulfilment of those obligations. Companies could assess, at their own initiative, the alignment of these schemes and initiatives with the obligations under this Directive. In order to ensure full information on such initiatives, the Directive should also refer to the possibility for the Commission and the Member States to facilitate the dissemination of information on such schemes or initiatives and their outcomes. The Commission, in collaboration with Member States, may issue guidance for assessing the fitness of industry schemes and multi-stakeholder initiatives.
Amendment 209 #
2022/0051(COD)
Proposal for a directive
Recital 39
Recital 39
(39) So as to comply with the obligation of bringing to an end and minimising the extent of actual adverse impacts under this Directive, companies should be required to take the following actions, where relevant. They should neutralise the adverse impact or minimise its extent, with an action proportionate to the significance and scale of the adverse impact and to the contribution of the company’s conduct to the adverse impact. Where necessary due to the fact that the adverse impact cannot be immediately brought to an end, companies should develop and implement a corrective action plan with reasonable and clearly defined timelines for action and qualitative and quantitative indicators for measuring improvement. Companies should also seek to obtain contractual assurances from a direct business partner with whom they have an established business relationship that they will ensure compliance with the company’s code of conduct and, as necessary, a prevention action plan, including by seeking corresponding contractual assurances from its partners, to the extent that their activities are part of the company’s valuesupply chain. The contractual assurances should be accompanied by the appropriate measures to verify compliance. Finally, companies should also make investments aiming at ceasing or minimising the extent of adverse impact, provide targeted and proportionate support for an SMEs with which they have an established business relationship and collaborate with other entities, including, where relevant, to increase the company’s ability to bring the adverse impact to an end.
Amendment 215 #
2022/0051(COD)
Proposal for a directive
Recital 41
Recital 41
(41) In order to ensure that bringing actual adverse impacts to an end or minimising them is effective, companies should prioritize engagement with business relationships in the valuesupply chain, instead of terminating the business relationship, as a last resort action after attempting at bringing actual adverse impacts to an end or minimising them without success. However, this Directive should also, for cases where actual adverse impacts could not be brought to an end or adequately mitigated by the described measures, refer to the obligation for companies to refrain from entering into new or extending existing relations with the partner in question and, where the law governing their relations so entitles them to, to either temporarily suspend commercial relationships with the partner in question, while pursuing efforts to bring to an end or minimise the extent of the adverse impact, or terminate the business relationship with respect to the activities concerned, if the adverse impact is considered severe. In order to allow companies to fulfil that obligation, Member States should provide for the availability of an option to terminate the business relationship in contracts governed by their laws.
Amendment 218 #
2022/0051(COD)
Proposal for a directive
Recital 42
Recital 42
(42) Companies should provide the possibility for persons and organisations to submit complaints directly to them in case of legitimate concerns regarding actual or potential human rights and environmental adverse impacts. Organisations who could submit such complaints should include trade unions and other workers’ representatives representing individuals working in the valuesupply chain concerned and civil society organisations active in the areas related to the valuesupply chain concerned where they have knowledge about a potential or actual adverse impact. Companies should establish a procedure for dealing with those complaints and inform workers, trade unions and other workers’ representatives, where relevant, about such processes. Recourse to the complaints and remediation mechanism should not prevent the complainant from having recourse to judicial remedies. In accordance with international standards, complaints should be entitled to request from the company appropriate follow-up on the complaint and to meet with the company’s representatives at an appropriate level to discuss potential or actual severe adverse impacts that are the subject matter of the complaint. This access should not lead to unreasonable solicitations of companies.
Amendment 223 #
2022/0051(COD)
Proposal for a directive
Recital 43
Recital 43
(43) Companies should monitor the implementation and effectiveness of their due diligence measures. They should carry out periodic assessments of their own operations, those of their subsidiaries and, where related to the valuesupply chains of the company, those of their established business relationships, to monitor the effectiveness of the identification, prevention, minimisation, bringing to an end and mitigation of human rights and environmental adverse impacts. Such assessments should verify that adverse impacts are properly identified, due diligence measures are implemented and adverse impacts have actually been prevented or brought to an end. In order to ensure that such assessments are up-to- date, they should be carried out at least every 12 months and be revised in-between if there are reasonable grounds to believe that significant new risks of adverse impact could have arisen.
Amendment 225 #
2022/0051(COD)
Proposal for a directive
Recital 45
Recital 45
(45) In order to facilitate companies’ compliance with their due diligence requirements through their valuesupply chain and limiting shifting compliance burden on SME business partners, the Commission should provide guidance on model contractual clauses.
Amendment 232 #
2022/0051(COD)
Proposal for a directive
Recital 48
Recital 48
(48) In order to complement Member State support to SMEs, the Commission may build on existing EU tools, projects and other actions helping with the due diligence implementation in the EU and in third countries. It may set up new support measures that provide help to companies, including SMEs on due diligence requirements, including an observatory for valuesupply chain transparency and the facilitation of joint stakeholder initiatives.
Amendment 250 #
2022/0051(COD)
Proposal for a directive
Recital 57
Recital 57
(57) As regards damages occurring at the level of established indirect business relationships, the liability of the company should be subject to specific conditions. The company should not be liable if it carried out specific due diligence measures. However, it should not be exonerated from liability through implementing such measures in case it was unreasonable to expect that the action actually taken, including as regards verifying compliance, would be adequate to prevent, mitigate, bring to an end or minimise the adverse impact. In addition, in the assessment of the existence and extent of liability, due account is to be taken of the company’s efforts, insofar as they relate directly to the damage in question, to comply with any remedial action required of them by a supervisory authority, any investments made and any targeted support provided as well as any collaboration with other entities to address adverse impacts in its valuesupply chains.
Amendment 258 #
2022/0051(COD)
Proposal for a directive
Recital 59
Recital 59
(59) As regards civil liability rules, the civil liability of a company for damages arising due to its failure to carry out adequate due diligence should be without prejudice to civil liability of its subsidiaries or the respective civil liability of direct and indirect business partners in the valuesupply chain. Also, the civil liability rules under this Directive should be without prejudice to Union or national rules on civil liability related to adverse human rights impacts or to adverse environmental impacts that provide for liability in situations not covered by or providing for stricter liability than this Directive.
Amendment 282 #
2022/0051(COD)
Proposal for a directive
Article 1 – paragraph 1 – subparagraph 1 – point a
Article 1 – paragraph 1 – subparagraph 1 – point a
(a) on obligations for companies regarding actual and potential human rights adverse impacts and environmental adverse impacts, with respect to their own operations, the operations of their subsidiaries, and the valuesupply chain operations carried out by entities with whom the company has an established business relationship and
Amendment 291 #
2022/0051(COD)
Proposal for a directive
Article 1 – paragraph 1 – subparagraph 2
Article 1 – paragraph 1 – subparagraph 2
The nature of business relationships as ‘established’ shall be reassessed periodically, and at least every 12 monthevery three years.
Amendment 312 #
2022/0051(COD)
Proposal for a directive
Article 2 – paragraph 1 – point b – introductory part
Article 2 – paragraph 1 – point b – introductory part
(b) a simplified due diligence reporting obligation applies to the company that did not reach the thresholds under point (a), but had more than 250 employees on average and had a net worldwide turnover of more than EUR 40 million in the last financial year for which annual financial statements have been prepared, provided that at least 50% of this net turnover was generated, in one or more of the following sectors:
Amendment 336 #
2022/0051(COD)
Proposal for a directive
Article 3 – paragraph 1 – point a – point iv – indent 2
Article 3 – paragraph 1 – point a – point iv – indent 2
Amendment 339 #
2022/0051(COD)
Proposal for a directive
Article 3 – paragraph 1 – point a – point iv – indent 3
Article 3 – paragraph 1 – point a – point iv – indent 3
Amendment 341 #
2022/0051(COD)
Proposal for a directive
Article 3 – paragraph 1 – point a – point iv – indent 4
Article 3 – paragraph 1 – point a – point iv – indent 4
Amendment 370 #
2022/0051(COD)
Proposal for a directive
Article 3 – paragraph 1 – point e – point i
Article 3 – paragraph 1 – point e – point i
(i) with whom the company has a commercial agreement or to whom the company provides financing, insurance or reinsurance, or with whom the company has a commercial agreement or an agreement to provide financing, insurance or reinsurance. The relationship between an investee company and an asset manager and/or an institutional investor shall not be considered a business relationship for the purpose of this Directive. The provision of services within the meaning of section A (1) to (5) and section B of Annex I of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU shall not be considered a business relationship for the purpose of this Directive.
Amendment 383 #
2022/0051(COD)
Proposal for a directive
Article 3 – paragraph 1 – point f
Article 3 – paragraph 1 – point f
(f) ‘established business relationship’ means a direct business relationship, whether direct or indirect, which is, or which is expected to be lasting, in view of its intensity or duration and which does not represent a negligible or merely ancillary part of the value chain; supply chain. The relationship between an investee company and an asset manager and/or an institutional investor shall not be considered an established business relationship. The provision of services within the meaning of section A (1) to (5) and section B of Annex I of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU shall not be considered an established business relationship for the purpose of this Directive.
Amendment 399 #
2022/0051(COD)
Proposal for a directive
Article 3 – paragraph 1 – point g
Article 3 – paragraph 1 – point g
(g) ‘valuesupply chain’ means activities related to the production of goods or the provision of services by a company, including the development of the product or the service and the use and disposal of the product as well as the related activities of upstream and downstream established business relationships of the company. As regards companies within the meaning of point (a)(iv), ‘valuesupply chain’ with respect to the provision of these specific services shall only include the activities of the clients receiving such loan, credit, and other financial and credit services and of other companies belonging to the same group whose activities are linked to the contract in question. The valuesupply chain of such regulated financial undertakings does not cover SMEs receiving loan, credit, financing, insurance or reinsurance of such entities. The supply chain of such regulated financial undertaking does not cover the relationship between an investee company and an asset manager and/or an institutional investor;
Amendment 409 #
2022/0051(COD)
Proposal for a directive
Article 3 – paragraph 1 – point h
Article 3 – paragraph 1 – point h
(h) ‘independent third-party verification’ means verification of the compliance by a company, or parts of its valuesupply chain, with human rights and environmental requirements resulting from the provisions of this Directive by an auditor which is independent from the company, free from any conflicts of interests, has experience and competence in environmental and human rights matters and is accountable for the quality and reliability of the audit;
Amendment 483 #
2022/0051(COD)
Proposal for a directive
Article 5 – paragraph 2 a (new)
Article 5 – paragraph 2 a (new)
2 a. Paragraph 1 and 2 shall not apply to a regulated financial undertaking complying with Article 4(1) of Regulation(EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability- related disclosures in the financial services sector pursuant to Article 4(3), Article 4(4) or on a voluntary basis.
Amendment 496 #
2022/0051(COD)
Proposal for a directive
Article 6 – paragraph 1
Article 6 – paragraph 1
1. Member States shall ensure that companies take appropriate measures to identify actual and potential adverse human rights impacts and adverse environmental impacts arising from their own operations or those of their subsidiaries and, where related to their valuesupply chains, from their established business relationships, in accordance with paragraph 2, 3 and 4.
Amendment 516 #
2022/0051(COD)
Proposal for a directive
Article 6 – paragraph 3
Article 6 – paragraph 3
Amendment 558 #
2022/0051(COD)
Proposal for a directive
Article 7 – paragraph 2 – point b
Article 7 – paragraph 2 – point b
(b) seek contractual assurances from a business partner with whom it has a direct business relationship that it will ensure compliance with the company’s code of conduct and, as necessary, a prevention action plan, including by seeking corresponding contractual assurances from its partners, to the extent that their activities are part of the company’s valuesupply chain (contractual cascading). When such contractual assurances are obtained, paragraph 4 shall apply;
Amendment 587 #
2022/0051(COD)
Proposal for a directive
Article 7 – paragraph 5 – subparagraph 1 – introductory part
Article 7 – paragraph 5 – subparagraph 1 – introductory part
As regards potential adverse impacts within the meaning of paragraph 1 that could not be prevented or adequately mitigated by the measures in paragraphs 2, 3 and 4, the company shall be required to refrain from entering into new or extending existing relations with the partner in connection with or in the valuesupply chain of which the impact has arisen and shall, where the law governing their relations so entitles them to, take the following actions:
Amendment 633 #
2022/0051(COD)
Proposal for a directive
Article 8 – paragraph 3 – point c
Article 8 – paragraph 3 – point c
(c) seek contractual assurances from a direct partner with whom it has an established business relationship that it will ensure compliance with the code of conduct and, as necessary, a corrective action plan, including by seeking corresponding contractual assurances from its partners, to the extent that they are part of the valuesupply chain (contractual cascading). When such contractual assurances are obtained, paragraph 5 shall apply.
Amendment 662 #
2022/0051(COD)
Proposal for a directive
Article 8 – paragraph 6 – subparagraph 1 – introductory part
Article 8 – paragraph 6 – subparagraph 1 – introductory part
As regards actual adverse impacts within the meaning of paragraph 1 that could not be brought to an end or the extent of which could not be minimised by the measures provided for in paragraphs 3, 4 and 5, the company shall refrain from entering into new or extending existing relations with the partner in connection to or in the valuesupply chain of which the impact has arisen and shall, where the law governing their relations so entitles them to, take one of the following actions:
Amendment 694 #
2022/0051(COD)
Proposal for a directive
Article 9 – paragraph 1
Article 9 – paragraph 1
1. Member States shall ensure that companies provide the possibility for persons and organisations listed in paragraph 2 to submit complaints to them where they have legitimate concerns regarding actual or potential adverse human rights impacts and adverse environmental impacts with respect to their own operations, the operations of their subsidiaries and their valuesupply chains.
Amendment 705 #
2022/0051(COD)
Proposal for a directive
Article 9 – paragraph 2 – point b
Article 9 – paragraph 2 – point b
(b) trade unions and other workers’ representatives representing individuals working in the valuesupply chain concerned,
Amendment 710 #
2022/0051(COD)
Proposal for a directive
Article 9 – paragraph 2 – point c
Article 9 – paragraph 2 – point c
(c) civil society organisations active in the areas related to the valuesupply chain concerned.
Amendment 724 #
2022/0051(COD)
Proposal for a directive
Article 10 – paragraph 1
Article 10 – paragraph 1
Member States shall ensure that companies carry out periodic assessments of their own operations and measures, those of their subsidiaries and, where related to the valuesupply chains of the company, those of their established business relationships, to monitor the effectiveness of the identification, prevention, mitigation, bringing to an end and minimisation of the extent of human rights and environmental adverse impacts. Such assessments shall be based, where appropriate, on qualitative and quantitative indicators and be carried out at least every 12 months and whenever there are reasonable grounds to believe that significant new risks of the occurrence of those adverse impacts may arise. The due diligence policy shall be updated in accordance with the outcome of those assessments.
Amendment 739 #
2022/0051(COD)
Proposal for a directive
Article 11 – paragraph 2 a (new)
Article 11 – paragraph 2 a (new)
This Article shall not apply to a regulated financial undertaking complying with Article 4(1) of Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector pursuant to Article 4(3), Article 4(4) or on a voluntary basis.
Amendment 758 #
2022/0051(COD)
Proposal for a directive
Article 14 – paragraph 1
Article 14 – paragraph 1
1. Member States shall, in order to provide information and support to companies and the partners with whom they have established business relationships in their valuesupply chains in their efforts to fulfil the obligations resulting from this Directive, set up and operate individually or jointly dedicated websites, platforms or portals. Specific consideration shall be given, in that respect, to the SMEs that are present in the valuesupply chains of companies.
Amendment 781 #
2022/0051(COD)
Proposal for a directive
Article 15 – paragraph 1
Article 15 – paragraph 1
1. Member States shall ensure that companies referred to in Article 2(1), point (a), and Article 2(2), point (a), shall adopt a plan to ensure that the business model and strategy of the company are compatible with the transition to a sustainable economy and with the limiting of global warming to 1.5 °C in line with the Paris Agreement. This plan shall, in particular, identify, on the basis of information reasonably available to the company, the extent to which climate change is a risk for, or an impact of, the company’s operations.
Amendment 788 #
2022/0051(COD)
Proposal for a directive
Article 15 – paragraph 2
Article 15 – paragraph 2
Amendment 792 #
2022/0051(COD)
Proposal for a directive
Article 15 – paragraph 3
Article 15 – paragraph 3
Amendment 802 #
2022/0051(COD)
Proposal for a directive
Article 17 – paragraph 1
Article 17 – paragraph 1
1. Each Member State shall designate one or more supervisory authorities to supervise compliance with the obligations laid down in national provisions adopted pursuant to Articles 6 to 11 and Article 15(1) and (2) (‘supervisory authority’). Furthermore, supervisory authorities should ensure coordination to avoid a multiplication of request and information from a same company, thereby avoiding the need of a single supra-national supervisory authority.
Amendment 829 #
2022/0051(COD)
Proposal for a directive
Article 20 – paragraph 2
Article 20 – paragraph 2
2. In deciding whether to impose sanctions and, if so, in determining their nature and appropriate level, due account shall be taken of the company’s efforts to comply with any remedial action required of them by a supervisory authority, any investments made and any targeted support provided pursuant to Articles 7 and 8, cumulative effects of the different measures and sanctions already imposed on the company as well as collaboration with other entities to address adverse impacts in its valuesupply chains, as the case may be.
Amendment 838 #
2022/0051(COD)
Proposal for a directive
Article 20 – paragraph 3
Article 20 – paragraph 3
3. When pecuniary sanctions are imposed, they shall be based on the company’s turnoverseverity of infringement.
Amendment 846 #
2022/0051(COD)
Proposal for a directive
Article 22
Article 22
Amendment 913 #
2022/0051(COD)
Proposal for a directive
Article 25
Article 25
Amendment 922 #
2022/0051(COD)
Proposal for a directive
Article 26 – paragraph 1
Article 26 – paragraph 1
1. Member States shall ensure that directors of companies referred to in Article 2(1) are responsible for putting in place and overseeing the due diligence actions referred to in Article 4 and in particular the due diligence policy referred to in Article 5, with due consideration for relevant input from stakeholders and civil society organisations. The directors shall report to the board of directors in that respect.
Amendment 923 #
2022/0051(COD)
Proposal for a directive
Article 26 – paragraph 2
Article 26 – paragraph 2
Amendment 947 #
2022/0051(COD)
Proposal for a directive
Annex I – Part I – point 21
Annex I – Part I – point 21
Amendment 26 #
2021/2048(REG)
Parliament's Rules of Procedure
Rule 214 – interpretation – paragraph 2
Rule 214 – interpretation – paragraph 2
In all cases, in order to guarantee that non-attached Members must be guaranteedhave access to information, in accordance with the principle of non- discrimination, through the supply of information and the presence of a member ofey may appoint one non-attached member as an observer. The Chair can give the non- attached Members’ secretariat at coordinator meetings acting as an observer the opportunity to express his or her view.
Amendment 215 #
2021/0420(COD)
Proposal for a regulation
Citation 6 a (new)
Citation 6 a (new)
– having regard to the Commission staff working document of 19 June 2019 entitled ‘EU Road Safety Policy Framework 2021-2030 – Next steps towards “Vision Zero”’ (SWD(2019)0283),
Amendment 216 #
2021/0420(COD)
Proposal for a regulation
Citation 6 b (new)
Citation 6 b (new)
– having regard to the Directive on Energy Efficiency (2018/2002),
Amendment 217 #
2021/0420(COD)
Proposal for a regulation
Citation 6 c (new)
Citation 6 c (new)
– having regard to the Commission communication of 9 December 2020 entitled ‘Sustainable and Smart Mobility Strategy – putting European transport on track for the future’ (COM(2020)0789),
Amendment 218 #
2021/0420(COD)
Proposal for a regulation
Citation 6 d (new)
Citation 6 d (new)
– having regard to the Green Rail investment Platform launched by the European Investment Bank (EIB) in December 2021 to support public and private investments in rail projects,
Amendment 219 #
2021/0420(COD)
Proposal for a regulation
Citation 6 e (new)
Citation 6 e (new)
– having regard to the High-Speed Rail Atlas issued by International Union of Railways (UIC) in 2021,
Amendment 220 #
2021/0420(COD)
Proposal for a regulation
Citation 6 f (new)
Citation 6 f (new)
(3a) Rail passenger services should become a more attractive option for longer-distance journeys and rail high- speed services have proven in many European countries their attractiveness. The European distances are particularly suitable to this mode of transport and most EU Capitals, major cities and metropolitan areas could be interconnected thanks to high speed. However, the current European network is fragmented and mainly made up of “national high-speed islands” and there is an urgent need to develop an EU High- Speed Network with a larger number of connections between all EU Capitals, major cities and metropolitan areas. This is vital to reach the objective of the Sustainable and Smart Mobility Strategy. The advantages of high-speed rail versus other transport modes are as follows: 1. transport capacity: high-capacity transport capable of covering long distances, 2. energy consumption: extremely low energy consumption per passenger, 3. emissions: extremely low emission footprint in case of electric traction, 4. infrastructure spatial requirements: significantly lower space demand (per transported volume), 5. travel comfort: being able to provide a very high standard, 6. Safety: high-speed rail is one of the safest modes to travel.
Amendment 478 #
2021/0420(COD)
Proposal for a regulation
Recital 64
Recital 64
(64) While maintenance is and will remain the main responsibility of the Member States, it is important that the trans-European transport network – once built – is properly maintained to ensure a high quality of services. A life cycle approach should be followed when planning and procuring infrastructure projects. Maintenance works should be conducted in compliance with Commission Delegated Decision (EU)2017/2075.
Amendment 520 #
2021/0420(COD)
Proposal for a regulation
Recital 81 a (new)
Recital 81 a (new)
Amendment 521 #
2021/0420(COD)
Proposal for a regulation
Recital 81 a (new)
Recital 81 a (new)
(81a) Rail is energy-efficient which carries 4 times more passengers per unit of energy than the cars and even 8 times more than the planes32b, High-Speed Rail will help in facing the future energy challenges. __________________ 32b The International Association of Railways (UIC)
Amendment 523 #
2021/0420(COD)
Proposal for a regulation
Recital 81 b (new)
Recital 81 b (new)
(81b) Rail is safe which causes 28 times less passenger fatalities than the cars in the EU32c, High-Speed Rail can contribute to the vision of the EU to reach zero road fatalities by 2050. __________________ 32c The European Union Agency for Railways (ERA, 2019)
Amendment 525 #
2021/0420(COD)
Proposal for a regulation
Recital 81 c (new)
Recital 81 c (new)
(81c) The Sustainable and Smart Mobility Strategy sets the milestone of doubling high-speed rail traffic by 2030, and of tripling high-speed rail traffic by 2050.
Amendment 526 #
2021/0420(COD)
Proposal for a regulation
Recital 81 d (new)
Recital 81 d (new)
(81d) The High-Speed Rail passenger volumes nearly doubled between 2001 and 201832e proving that there is a demand for High-Speed Rail whenever it is provided. __________________ 32e Statistical pocketbook 2021 (europa.eu)
Amendment 527 #
2021/0420(COD)
Proposal for a regulation
Recital 81 e (new)
Recital 81 e (new)
Amendment 528 #
2021/0420(COD)
Proposal for a regulation
Recital 81 g (new)
Recital 81 g (new)
(81g) High-Speed Rail is a public transport mode providing access to opportunities especially for women and minorities profile as a social equaliser.
Amendment 529 #
2021/0420(COD)
Proposal for a regulation
Recital 81 i (new)
Recital 81 i (new)
(81i) High-Speed Rail has a positive economic impact in terms of, inter alia, accessibility, travel timesaving, employment opportunities and tourism boosting32i. __________________ 32i Pagliara, Francesca & Hayashi, Yoshitsugu & Ram, Kallidaikurichi. (2022). High-Speed Rail, Equity and Inclusion. Sustainability. 14. 6710. 10.3390/su14116710.
Amendment 530 #
2021/0420(COD)
Proposal for a regulation
Recital 81 h (new)
Recital 81 h (new)
(81h) The EU is about creating peace in Europe, and a joint tangible project that aims to connect the people of Europe contributes to this goal.
Amendment 531 #
2021/0420(COD)
Proposal for a regulation
Recital 81 j (new)
Recital 81 j (new)
(81j) In order to achieve the high-speed rail traffic targets of the Sustainable and Smart Mobility Strategy, it is necessary to prioritize the development of a seamless EU High Speed Rail Network for rail passengers (HSR) within the TEN-T policy. In particular, missing links in the current high-speed rail network need to be completed as links with a maximum speed ≥ 250 km/h, concentrating in a first phase on linking all EU capitals by high- speed rail soonest possible by 2040.
Amendment 532 #
2021/0420(COD)
Proposal for a regulation
Recital 81 k (new)
Recital 81 k (new)
(81k) The construction of such high- speed rail missing links between Member States should be a priority for Member States’ investments. With a view to ensuring their coherent development, the HSR should be fully integrated into the TEN-T core network and extended core network as well as into the alignment of the European Transport Corridors.
Amendment 753 #
2021/0420(COD)
Proposal for a regulation
Article 9 – paragraph 1 – point h – point i (new)
Article 9 – paragraph 1 – point h – point i (new)
(i) facilitate railway transport with third countries, e.g. Western Balkans, Eastern Partnership (EaP) and EU accession countries;
Amendment 759 #
2021/0420(COD)
Proposal for a regulation
Article 10 – paragraph 1 – point a
Article 10 – paragraph 1 – point a
(a) be as specified in the maps in Annex I, including the map of the EU High-Speed Rail Network, and in the lists in Annex II;
Amendment 1018 #
2021/0420(COD)
Proposal for a regulation
Article 19 – paragraph 1 – point a a (new)
Article 19 – paragraph 1 – point a a (new)
(aa) developing the EU High-Speed Rail Network for rail passengers referred to in Annex 1, in particular its high-speed rail missing links, in line with the provisions for the completion of the core network and of the extended core network set out in Article 6(1),
Amendment 1050 #
2021/0420(COD)
Proposal for a regulation
Article 19 – paragraph 1 a (new)
Article 19 – paragraph 1 a (new)
By [6 months after the entry into force of this Regulation], the Commission shall establish a list of the high-speed rail missing links in the EU High-Speed Rail Network referred to in Annex 1. That list shall identify the parts of these missing links covered by the core network and by the extended core network. It shall also indicate an investment priority rank for each missing link, taking into account inter alia the population served and construction cost. The rail lines corresponding to these missing links shall be part of the alignment of the European Transport Corridors. Where necessary, the Commission shall amend Annex III, pursuant to Article 11(3).
Amendment 1434 #
2021/0420(COD)
Proposal for a regulation
Article 48 – paragraph 1 – point a
Article 48 – paragraph 1 – point a
(a) the infrastructure of the trans- European transport network is maintained in a way that it provides the same level of service and safety during its lifetime and that maintenance works are conducted in compliance with Commission Delegated Decision (EU)2017/2075;
Amendment 1635 #
2021/0420(COD)
Proposal for a regulation
Annex 1 - Part 3/23 - map 1a (new)
Annex 1 - Part 3/23 - map 1a (new)
EU High-Speed Rail Network (HSR) - Existing and Missing Links
Amendment 1788 #
2021/0420(COD)
EU High-Speed Rail Network (HSR) Missing Links - With and Without Expected Year of Completion
Amendment 671 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 575/2013
Article 111– paragraph 4
Article 111– paragraph 4
4. For contractual arrangements offered by an institution, but not yet accepted by the client, that would become commitments if accepted by the client, andthe percentage applicable shall be the one provided for in accordance with paragraph 2. For contractual arrangements that would qualify as commitments but meet the conditions specified in Article 5, point (9), second subparagraph, for not being treated as commitments, the percentage applicable to that type of contractual arrangement shall be that provided for in accordance with paragraph 2. 0 %.”
Amendment 758 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point e – introductory part
Article 122a – paragraph 3 – point e – introductory part
(e) for the purposes of point (c), the operational phase shall mean the phase in which the entity that was specifically created to finance the project or which is economically comparable meets both of the following conditions:
Amendment 1024 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 118 – point b
Article 1 – paragraph 1 – point 118 – point b
Regulation (EU) No 575/2013
Article 229– paragraph 1– point a
Article 229– paragraph 1– point a
(a) the value shall be appraised by a valuer independently from an institution’s mortgage acquisition, loan processing and loan decision process by an independent valuerthe credit decision process, who possesses the necessary qualifications, ability and experience to execute a valuation;
Amendment 1025 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 118 – point b
Article 1 – paragraph 1 – point 118 – point b
(i) the value excludes expectations on prof the collateral shall be the market value or mortgage lending value reduced as appropriate to reflect the results of the monitoring required under Article increases208(3) and to take account of any prior claims on the immovable property;
Amendment 1298 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 1 – point a
Article 465 – paragraph 5 – subparagraph 1 – point a
(a) until 31 December 2032, a risk weight of 10 % to the part of the exposures secured by mortgages on residential property up to 55 % of the property value remaining after any senior or pari passu ranking liens not held by the institution have been deducted,
Amendment 1310 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 1 – point b
Article 465 – paragraph 5 – subparagraph 1 – point b
(b) until 31 December 2029, a risk weight of 45% to any remaining part of the exposures secured by mortgages on residential property up to 80 % of the property value remaining after any senior or pari passu ranking liens not held by the institution have been deducted, provided that the adjustment to own funds requirements for credit risk referred to in Article 501 is not applied.
Amendment 1327 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
(c) for the qualifying exposures the institution has both the following claims , in the event of the default or non-payment of the obligor, a right on the residential immovable property securing the event of the default or non-payment of the obligor:xposure (or the right to request or take a mortgage on the residential property in accordance with Article 108 (4) g) and another right over the other assets and income of the obligor either contractually or by national applicable law
Amendment 1345 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 3 – point a
Article 465 – paragraph 5 – subparagraph 3 – point a
Amendment 1348 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 3 – point b
Article 465 – paragraph 5 – subparagraph 3 – point b
Amendment 1352 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 3 – point c
Article 465 – paragraph 5 – subparagraph 3 – point c
Amendment 1372 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 5
Article 465 – paragraph 5 – subparagraph 5
EBA shall monitor the use of the transitional treatment in the first subparagraph and report to the Commission by 31 December 20328 on the appropriateness of the associated risk weights.
Amendment 1384 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 6
Article 465 – paragraph 5 – subparagraph 6
On the basis of that report and taking due account of the related internationally agreed standards developed by the BCBS, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by 31 December 20314.;
Amendment 1415 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495b – paragraph 1 – point a
Article 495b – paragraph 1 – point a
(a) 530 % during the period from 1 January 2025 to 31 December 20278;
Amendment 1416 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495b – paragraph 1 – point b
Article 495b – paragraph 1 – point b
(b) 870 % during the period from 1 January 20289 to 31 December 2028;
Amendment 1419 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495b – paragraph 1 – point c
Article 495b – paragraph 1 – point c
(c) 1080 % during the period from 1 January 2029 to 31 December 202931.
Amendment 1422 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495b – paragraph 2 – subparagraph 1
Article 495b – paragraph 2 – subparagraph 1
2. EBA shall prepare a report on the appropriate calibration of riskfinal LGD input floors, including the haircut parameters, applicable to specialised lending exposures under the IRB Approach, and in particular on own estimates of LGD and LGD input floorin order not to penalize high quality transactions. EBA shall in particular include in its report data on average numbers of defaults and realised losses observed in the Union for different samples of institutions with different business and risk profiles., and also an assessment of the impact of the applicable regulation and guidelines, on the financing of underlaying economic activities financed by SLEs
Amendment 231 #
2021/0250(COD)
Proposal for a directive
Recital 7
Recital 7
Amendment 325 #
2021/0250(COD)
Proposal for a directive
Recital 70
Recital 70
(70) The importance of combating money laundering and terrorist financing should result in Member States laying down effective, proportionate and dissuasive administrative sanctions and measures in national law for failure to respect the requirements of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation]. National supervisors should be empowered by Member States to impose such measures to obliged entities to remedy the situation in the case of breaches and, where the breach so justifies, issue pecuniary sanctions. The range of sanctions and measures should be sufficiently broad to allow Member States and competent authorities to take account of the differences between obliged entities, such as established and developing entities from the digital asset industry, in particular between credit institutions and financial institutions and other obliged entities, as regards their size, characteristics and the nature of the business.
Amendment 356 #
2021/0250(COD)
Proposal for a directive
Article 3 – paragraph 4 – point b
Article 3 – paragraph 4 – point b
(b) may create obstacles to the free movement of services or capital or to the growth and freedom of establishment of service operators within the internal market which are not proportionate to the money laundering and terrorist financing risks the measure aims to mitigate.
Amendment 714 #
2021/0250(COD)
Proposal for a directive
Article 18 – paragraph 2
Article 18 – paragraph 2
2. Where the information referred to in paragraph 1, points (a), (b) and (c), is not stored in databases or registers, Member States shall take the necessary measures to ensure that FIUs can obtain that information by other means in a timely manner.
Amendment 87 #
2021/0241(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) In order to facilitate their criminal activities, money launderers and financers of terrorism are likely to take advantage of the freedom of capital movements within the Union's integrated financial area unless certain coordinating measures are adopted at Union level. International cooperation within the framework of FATF and the global implementation of its recommendations aim to prevent money laundering and terrorist financing while transferring funds or crypto-assets . Crypto- assets can be traced through immutable and constant record. This will make law enforcement without excessive administrative burdens for customers and service providers possible.
Amendment 93 #
2021/0241(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) In addition, the Commission Action Plan of 7 May 2020 for a comprehensive Union policy on preventing money laundering and terrorism financing41 identified six priority areas for urgent action to improve the Union’s anti-money laundering and countering financing of terrorism regime, including the establishment of a coherent regulatory framework for that regime in the Union to obtain more detailed and harmonised rules, notably to address the implications of technological innovation and developments in international standards and avoid diverging implementation of existing rules. Work at international level suggests a need to expand the scope of sectors or entities covered by the anti-money laundering and countering financing of terrorism rules and to assess how they should apply to virtual assets service providers not covered so far. Crypto-assets are increasingly diverse. Like in traditional finance, some products may be riskier, but others have put AML risk-management at their core. The AML regulation should reflect this principle of non-discrimination in its provisions. __________________ 41 Communication from the Commission on an Action Plan for a comprehensive Union policy on preventing money laundering and terrorist financing (C(2020) 2800 final).
Amendment 99 #
2021/0241(COD)
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15a) Most crypto-asset transactions are pseudonymous and transparent, and therefore, present a lower risk of money laundering and terrorist financing due to the inherently transparent and immutable nature of blockchain technology which makes it easier to trace crypto-asset transactions;
Amendment 112 #
2021/0241(COD)
Proposal for a regulation
Recital 22
Recital 22
(22) In order not to impair the efficiency of payment systems and crypto-asset transfer services , and in order to balance the risk of driving transactions underground as a result of overly strict identification requirements against the potential terrorist threat posed by small transfers of funds or crypto-assets , the obligation to check whether information on the payer or the payee , or, for transfers of crypto-assets, the originator and the beneficiary, is accurate should, in the case of transfers of funds where verification has not yet taken place, be imposed only in respect of individual transfers of funds or crypto-assets that exceed EUR 15000, unless the transfer appears to be linked to other transfers of funds or transfers of crypto-assets which together would exceed EUR 15000, the funds or crypto-assets have been received or paid out in cash or in anonymous electronic money, or where there are reasonable grounds for suspecting money laundering or terrorist financing.
Amendment 140 #
2021/0241(COD)
Proposal for a regulation
Recital 45 a (new)
Recital 45 a (new)
(45a) Crypto-asset service providers should be exempted from the requirement to ensure that transfers of crypto-assets are accompanied by detailed information on both the originator and beneficiary of the transfers if they can demonstrate that they have implemented technical measures which pursue the same objectives of the Regulation and provide an equivalent level of prevention against money laundering and terrorist financing. For a technical measure to be considered as achieving an equivalent level of prevention against money laundering and terrorist financing, competent authorities should consider the extent to which they are capable of identifying and tracing illicit activities and identifying suspicious accounts.
Amendment 141 #
2021/0241(COD)
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
This Regulation lays down rules on the information on payers and payees, accompanying transfers of funds, in any currency, and the information on originators and beneficiaries, accompanying transfers of crypto-assets, for the purposes of preventing, detecting and investigating money laundering and, terrorist financing and avoidance of EU sanction, where at least one of the payment or crypto-asset service providers involved in the transfer of funds or crypto- assets is established in the Union.
Amendment 191 #
2021/0241(COD)
Proposal for a regulation
Article 5 – paragraph 2 – point a
Article 5 – paragraph 2 – point a
(a) for transfers of funds exceeding EUR 15000, whether those transfers are carried out in a single transaction or in several transactions which appear to be linked, the information on the payer or the payee in accordance with Article 4;
Amendment 195 #
2021/0241(COD)
Proposal for a regulation
Article 5 – paragraph 2 – point b – introductory part
Article 5 – paragraph 2 – point b – introductory part
(b) for transfers of funds not exceeding EUR 15000 that do not appear to be linked to other transfers of funds which, together with the transfer in question, exceed EUR 15000, at least:
Amendment 200 #
2021/0241(COD)
Proposal for a regulation
Article 6 – paragraph 2 – subparagraph 1 – introductory part
Article 6 – paragraph 2 – subparagraph 1 – introductory part
By way of derogation from Article 4(1), and, where applicable, without prejudice to the information required in accordance with Regulation (EU) No 260/2012, where the payment service provider of the payee is established outside the Union, transfers of funds not exceeding EUR 15000 that do not appear to be linked to other transfers of funds which, together with the transfer in question, exceed EUR 15000, shall be accompanied by at least:
Amendment 234 #
2021/0241(COD)
Proposal for a regulation
Article 14 – paragraph 3 a (new)
Article 14 – paragraph 3 a (new)
3a. By way of derogation from paragraph 1 and paragraph 2, the crypto- asset service provider shall be exempted from the requirement to provide the information listed in this Article for transfers of crypto-assets if it can demonstrate that it has implemented technical measures having an equivalent object or effect as requirement in this Article, allowing the provider to achieve the objectives of this Regulation and effectively prevent money laundering and terrorist financing.
Amendment 260 #
2021/0241(COD)
Proposal for a regulation
Article 15 – paragraph 2 – subparagraph 1 – introductory part
Article 15 – paragraph 2 – subparagraph 1 – introductory part
By way of derogation from Article 14(1), transfers of crypto-assets not exceeding EUR 15 000 that do not appear to be linked to other transfers of crypto-assets which, together with the transfer in question, exceed EUR 15 000, shall be accompanied by at least the following information:
Amendment 270 #
2021/0241(COD)
Proposal for a regulation
Article 16 – paragraph 2
Article 16 – paragraph 2
2. In the case of transfers of crypto- assets exceeding EUR 15 000, whether those transfers are carried out in a single transaction or in several transactions which appear to be linked, before making the crypto-assets available to the beneficiary, the crypto-asset service provider of the beneficiary shall verify the accuracy of the information on the beneficiary referred to in paragraph 1 on the basis of documents, data or information obtained from a reliable and independent source, without prejudice to the requirements laid down in Articles 83 and 84 of Directive (EU) 2015/2366.
Amendment 277 #
2021/0241(COD)
Proposal for a regulation
Article 16 – paragraph 3 – introductory part
Article 16 – paragraph 3 – introductory part
3. In the case of transfers of crypto- assets not exceeding EUR 15 000 that do not appear to be linked to other transfers of crypto-asset which, together with the transfer in question, exceed EUR 15 000, the crypto-asset service provider of the beneficiary shall only verify the accuracy of the information on the beneficiary in the following cases:
Amendment 125 #
2021/0239(COD)
Proposal for a regulation
Recital 1 a (new)
Recital 1 a (new)
Amendment 224 #
2021/0239(COD)
Proposal for a regulation
Recital 66
Recital 66
Amendment 252 #
2021/0239(COD)
Proposal for a regulation
Recital 103 a (new)
Recital 103 a (new)
(103a) Much of what is dirty money has been clean at some point in time. Dirty money is best observed and detected when it is circulating in the financial system in banks with a highly developed monitoring function. Furthermore, it is helpful - for combating dirty money from criminal activities and the financing of terrorism - if monitoring is possible. Combating dirty money is very much hampered, as is the gathering of evidence against criminals, when dirty money finds its way into illegal banking activities outside the financial system. Monitoring of dirty money by financial institutions and reporting on it to supervisory authorities provides the best guarantee that criminals and terrorists will be prosecuted. Excluding all dirty money streams from the regular financial system, which makes monitoring impossible, makes it harder to prosecute criminals and terrorists.
Amendment 273 #
2021/0239(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 16
Article 2 – paragraph 1 – point 16
(16) ‘business relationship’ means a business, professional or commercial relationship with a customer which is connected with the professional activities of an obliged entity and which is expected, at the time when the contact is established, to have an element of duration, including a relationship where an obliged entity is asked to form a company or set up a trust for its customer, whether or not the formation of the company or setting up of the trust is the only transaction carried out for that customer;
Amendment 278 #
2021/0239(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 19 – point a
Article 2 – paragraph 1 – point 19 – point a
(a) the provision of banking services by one credit institution as the correspondent to another credit institution as the respondent, including providing a current or other liability account and related services used for the execution of third-party payments, such as cash management, international funds transfers, cheque clearing, payable-through accounts and foreign exchange services;
Amendment 304 #
2021/0239(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 25 a (new)
Article 2 – paragraph 1 – point 25 a (new)
(25a) No public function referred to in points (a) to (d) shall be understood as covering middle-ranking or more junior officials;
Amendment 310 #
2021/0239(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 28
Article 2 – paragraph 1 – point 28
(28) ‘senior management’ means, in addition to executive members of the board of directors or, if there is no board, of its equivalent governing body, an officer or employee at management level with sufficient knowledge of the institution's money laundering and terrorist financing risk exposure and sufficient seniority to take decisions affecting its risk exposure;
Amendment 315 #
2021/0239(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 35
Article 2 – paragraph 1 – point 35
(35) ‘targeted financial sanctions’ means both asset freezing and prohibitions to make funds or other assets available, directly or indirectly, for the benefit of designated persons and entities pursuant to Council Decisions related to terrorism and terrorism financing adopted on the basis of Article 29 of the Treaty on European Union and Council Regulations adopted on the basis of Article 215 of the Treaty on the Functioning of the European Union;
Amendment 322 #
2021/0239(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 36 a (new)
Article 2 – paragraph 1 – point 36 a (new)
(36a) "state owned enterprise" is an enterprise whose capital is majority owned by the federal or central state.
Amendment 323 #
2021/0239(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 36 b (new)
Article 2 – paragraph 1 – point 36 b (new)
(36b) "person purporting to act on behalf of" is the person(s) representing the customer in the course of the business relationship in accordance with the law or a delegation of authority by mandate, e.g. person initiating or extending the business relationship, deciding terms and conditions of agreements.
Amendment 400 #
2021/0239(COD)
Proposal for a regulation
Article 7 – paragraph 2 – point c
Article 7 – paragraph 2 – point c
(c) an independent audit function to testevaluate whether the internal policies, controls and procedures referred to in point (a) operate effectively;
Amendment 402 #
2021/0239(COD)
Proposal for a regulation
Article 7 – paragraph 2 – point e
Article 7 – paragraph 2 – point e
(e) the internal communication of the relevant obliged entity’s internal policies, controls and procedures, including to its agents and distributors;
Amendment 426 #
2021/0239(COD)
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
1. Obliged entities shall appoint one executive member of their board of directors or, if there is no board, of its equivalent governing from a management body who shall be responsible for the implementation of measures to ensure compliance with this Regulation (‘corporate compliance manager’). Where the entity has no governing body, the function should be performed by a member of its senior management.
Amendment 427 #
2021/0239(COD)
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
2. The corporate compliance manager shall be responsible for the oversight of the implementingation of the obliged entity’s policies, controls and procedures and for receiving information on significant or material weaknesses in such policies, controls and procedures. The compliance manager shall regularly report on those matters to the board of director or equivalent governing body. For parent undertakings, that person shall also be responsible for overseeing group-wide policies, controls and procedures.
Amendment 430 #
2021/0239(COD)
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
2. The corporate compliance manager shall be responsible for implementing the obliged entity’s policies, controls and procedures and for receiving information on significant or material weaknesses in such policies, controls and procedures. The compliance manager shall regularly report on those matters to the board of director or equivalent governing body. For parent undertakings, that person shall also be responsible for overseeing group-wide policies, controls and procedures.
Amendment 434 #
2021/0239(COD)
Proposal for a regulation
Article 9 – paragraph 3 – introductory part
Article 9 – paragraph 3 – introductory part
3. Obliged entities shall have a operational compliance officer, to be appointed by the board of directors or governing body, who shall be in charge ofa senior manager, who shall be in charge of the monitoring and providing assistance to the day-to-day operation of the obliged entity’s anti- money laundering and countering the financing of terrorism (AML/CFT) policies. That person shall also be responsible for reporting suspicious transactions to the Financial Intelligence Unit (FIU) in accordance with Article 50(6).
Amendment 460 #
2021/0239(COD)
Proposal for a regulation
Article 15 – paragraph 1 – point b
Article 15 – paragraph 1 – point b
(b) when involved in or carrying out an occasional transaction that amounts to EUR 120 000 or more, or the equivalent in national currency or in value, whether that transaction is carried out in a single operation or through linked transactions, or a lower threshold laid down pursuant to paragraph 5;
Amendment 469 #
2021/0239(COD)
Proposal for a regulation
Article 15 – paragraph 3 a (new)
Article 15 – paragraph 3 a (new)
3a. By way of derogation to paragraph 1, Member States may allow obliged entities not to apply certain customer due diligence measures where a payment instrument is intrinsically considered as low risk and can only be used for the purchase of goods and services that pursue cultural or educational objectives.
Amendment 489 #
2021/0239(COD)
Proposal for a regulation
Article 16 – paragraph 2 – subparagraph 1
Article 16 – paragraph 2 – subparagraph 1
Where obliged entities identify an increasedhigh risk of money laundering or terrorist financing they shall take enhanced due diligence measures pursuant to Section 4 of this Chapter. Where situations of lower risk are identified, obliged entities may apply simplified due diligence measures pursuant to Section 3 of this Chapter.
Amendment 501 #
2021/0239(COD)
Proposal for a regulation
Article 17 – paragraph 2
Article 17 – paragraph 2
2. Where obliged entities either accept or refuse to enter in a business relationship, they shall keep record of the actions taken in order to comply with the requirement to apply customer due diligence measures, including records of the decisions taken and the relevant supporting documents. Documents, data or information held by the obliged entity shall be updated whenever the customer due diligence is reviewed pursuant to Article 21.
Amendment 511 #
2021/0239(COD)
Proposal for a regulation
Article 18 – paragraph 2 – introductory part
Article 18 – paragraph 2 – introductory part
2. For the purposes of identifying the beneficial owner of a legal entity, obliged entities shall collect the information referred to in Article 44(1), point (a), and the information referred to in paragraph 1, point (b), of this Articlefirst name and surname(s), and date of birth.
Amendment 513 #
2021/0239(COD)
Proposal for a regulation
Article 18 – paragraph 2 – subparagraph 1
Article 18 – paragraph 2 – subparagraph 1
Where, after having exhausted all possible means of identification pursuant to the first subparagraph, no natural person is identified as beneficial owner, or where there is any doubt that the person(s) identified is/are the beneficial owner(s), obliged entities shall identify the natural person(s) holding the position(s) of senior managing official(s) in the corporate or other legal entity and shall verify their identity. Obliged entities shall keep records of the actions taken as well as of the difficulties encountered during the identification process, which led to resorting to the identification of a senior managing official.
Amendment 519 #
2021/0239(COD)
Proposal for a regulation
Article 18 – paragraph 4 – introductory part
Article 18 – paragraph 4 – introductory part
4. Obliged entities shall obtain the information, documents and data necessary for the verification of the customer and beneficial owner's identity through either of the following:
Amendment 524 #
2021/0239(COD)
Proposal for a regulation
Article 18 – paragraph 4 – point a
Article 18 – paragraph 4 – point a
(a) the submission of the identity document, passport or equivalent and the acquisition of information from reliable and independent sources, whether accessed directly or provided by the customer;
Amendment 534 #
2021/0239(COD)
Proposal for a regulation
Article 18 – paragraph 4 – subparagraph 1
Article 18 – paragraph 4 – subparagraph 1
For the purposes of verifying the information on the beneficial owner(s), obliged entities shall also consult the central registers referred to in Article 10 of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final] as well as additional information on a risk based approach. Obliged entities shall determine the extent of the additional information to be consulted, having regard to the risks posed by the transaction or the business relationship and the beneficial owner.
Amendment 61 #
2021/0218(COD)
Proposal for a directive
Recital 1
Recital 1
(1) The European Green Deal5 establishes the objective of the Union becoming climate neutral in 2050 in a manner that contributes to the European economy, growth and job creation. That objective, and the objective of a 55% reduction in greenhouse gas emissions by 2030 as set out in the 2030 Climate Target Plan6 that was endorsed both by the European Parliament7 and by the European Council8 , requires an energy transition and significantly higher shares of renewable energy sources in an integrated energy system. This transition impacts Member States, regions, economic sectors and citizens differently and depending on their particular situation. It is therefore essential to ensure that the Green Deal is implemented in a way that promotes economic, social and territorial cohesion in the EU and that the transition is just and inclusive. In particular, it must be ensured that disruptions are avoided in critical sectors that meet basic needs of the economy and society, such as mobility. __________________ 5 Communication from the Commission COM(2019) 640 final of 11.12.2019, The European Green Deal. 6 Communication from the Commission COM(2020) 562 final of 17.9.2020, Stepping up Europe’s 2030 climate ambition Investing in a climate-neutral future for the benefit of our people 7 European Parliament resolution of 15 January 2020 on the European Green Deal (2019/2956(RSP)) 8 European Council conclusions of 11 December 2020, https://www.consilium.europa.eu/media/47 296/1011-12-20-euco-conclusions-en.pdf
Amendment 67 #
2021/0218(COD)
Proposal for a directive
Recital 2
Recital 2
(2) Renewable energy plays a fundamental role in delivering the European Green Deal and for achieving climate neutrality by 2050, given that the energy sector contributes over 75% of total greenhouse gas emissions in the Union. By reducing those greenhouse gas emissions, renewable energy also contributes to tackling environmental-related challenges such as biodiversity loss.
Amendment 70 #
2021/0218(COD)
Proposal for a directive
Recital 3
Recital 3
(3) Directive (EU) 2018/2001 of the European Parliament and of the Council9 sets a binding Union target to reach a share of at least 32 % of energy from renewable sources in the Union's gross final consumption of energy by 2030. Under the Climate Target Plan, the share of renewable energy in gross final energy consumption would need to increase to 40% by 2030 in order to achieve the Union’s greenhouse gas emissions reduction target10 . Therefore, the target set out in Article 3 of that Directive needs to be increased. __________________ 9 Directive (EU) 2018/2001 of the European Parliament and of the Council of 11 December 2018 on the promotion of the use of energy from renewable sources, OJ L 328, 21.12.2018, p. 82–209 10 Point 3 of the Communication from the Commission COM(2020) 562 final of 17.9.2020, Stepping up Europe’s 2030 climate ambition Investing in a climate- neutral future for the benefit of our people
Amendment 74 #
2021/0218(COD)
Proposal for a directive
Recital 5 a (new)
Recital 5 a (new)
(5a) The European Commission proposed under the EU's taxonomy framework (Regulation (EU)2020/852) draft rules for classifying natural gas and nuclear power as green in the context of climate change-related objectives. Such classification would vastly help the transport sector, among others, to reduce its carbon foot print and reach the goals of the Green deal and the Fit for 55 package.
Amendment 77 #
2021/0218(COD)
Proposal for a directive
Recital 7
Recital 7
(7) Member States’ cooperation to promote renewable energy can take the form of statistical transfers, support schemes or joint projects. It allows for a cost-efficient deployment of renewable energy across Europe and contributes to market integration. Despite its potential, cooperation has been very limited, thus leading to suboptimal results in terms of efficiency in increasing renewable energy. Member States should therefore be obliencouraged to test cooperation through implementing a pilot project. Projects financed by national contributions under the Union renewable energy financing mechanism established by Commission Implementing Regulation (EU) 2020/129414 would meet this obligationneed for the Member States involved. __________________ 14 Commission Implementing Regulation (EU) 2020/1294 of 15 September 2020 on the Union renewable energy financing mechanism (OJ L 303, 17.9.2020, p. 1).
Amendment 82 #
2021/0218(COD)
Proposal for a directive
Recital 12
Recital 12
Amendment 87 #
2021/0218(COD)
Proposal for a directive
Recital 18
Recital 18
Amendment 91 #
2021/0218(COD)
Proposal for a directive
Recital 22
Recital 22
(22) Renewable fuels of non-biological origin can be used for energy purposes, but also for non-energy purposes as feedstock or raw material in industries such as steel or chemicals. The use of renewable fuels of non-biological origin for both purposes exploits their full potential to replace fossil fuels used as feedstock and to reduce greenhouse gas emissions in industry and should therefore be included in a target for the use of renewable fuels of non- biological origin. National measures to support the uptake of renewable fuels of non-biological origin in industry should not result in net pollution increases due to an increased demand for electricity generation that is satisfied by the most polluting fossil fuels, such as coal, diesel, lignite, oil peat and oil shale.
Amendment 98 #
2021/0218(COD)
Proposal for a directive
Recital 29
Recital 29
(29) The use of renewable fuels and renewable electricity in transport can contribute to the decarbonisation of the Union transport sector in a cost-effective manner, and improve, amongst other, energy diversification in that sector while promoting innovation, growth and jobs in the Union economy and reducing reliance on energy imports. Any and all environmental ambitions and CO2 reductions must guarantee that transport policy is future-proof and promotes resilience, efficiency and competitiveness in the sector. With a view to achieving the increased target for greenhouse gas emission savings defined by the Union, the level of renewable energy supplied to all transport modes in the Union should be increased. Expressing the transport target as a greenhouse gas intensity reduction target would stimulate an increasing use of the most cost- effective and performing fuels, in terms of greenhouse gas savings, in transport. In addition, a greenhouse gas intensity r subject to available technology. Given the critical role of the transport sector (road, rail and air transport) for the functioning of our societies, the sector is expected to play a significant role in achieving the climate targets established by the European Climate Law. Reduction targets would stimulate innovation and set out a clear benchmark to compare across fuel types and renewable electricity depending on their greenhouse gas intensity. Complementary to this, increasing the level of the energy-based target on advanced biofuels and biogas and introducing a target for renewable fuels of non-biological origin would ensure an increased use of the renewable fuels with smallest environmental impact in transport modes that are difficult to electrify. The achievement of those targets should be ensured by obligations on fuel suppliers as well as by other measures included in [Regulation (EU) 2021/XXX on the use of renewable and low-carbon fuels in maritime transport - FuelEU Maritime and Regulation (EU) 2021/XXX on ensuring a level playing field for sustainable air transport]. Dedicated obligations on aviation fuel suppliers should be set only pursuant to [Regulation (EU) 2021/XXX on ensuring a level playing field for sustainable air transport].
Amendment 101 #
2021/0218(COD)
Proposal for a directive
Recital 30
Recital 30
(30) Electromobility will play an essential role in decarbonising the transport sector. To foster the further development of electromobility, Member States should establish a credit mechanism enabling operators of charging points accessible to the public to contribute, by supplying renewable electricity, towards the fulfilment of the obligation set up by Member States on fuel suppliers. While supporting electricity in transport through such a mechanism, it is important that Member States continue setting a high level of ambition for the decarbonisation of their liquid fuel mix in transport. Nuclear power has unlocked potential to help the Union reach net zero emissions by 2050, in particular in the context of supplying sustainable electricity to operators of charging points for electrical vehicles. Considering possible bans on the production of vehicles with internal combustion engines post 2030, as zero- emission vehicles heavily rely on electrical power for charging and only safe and reliable nuclear power would be able to meet the needs of zero-emission vehicles.
Amendment 106 #
2021/0218(COD)
Proposal for a directive
Recital 30 a (new)
Recital 30 a (new)
(30a) Hydrogen can be used as feedstock or a source of energy in industrial and chemical processes and in air and maritime transport, decarbonising sectors in which direct electrification is not technologically possible or competitive, as well as for energy storage to balance, where necessary, the energy system, thereby playing a significant role in energy system integration;
Amendment 107 #
2021/0218(COD)
Proposal for a directive
Recital 30 b (new)
Recital 30 b (new)
(30b) Both low-carbon and renewable hydrogen should develop in the European energy market, taking into account that these have different infrastructure and investment needs and prioritizing the need for investment to scale up renewable production fast enough to reach the EU’s climate targets and environmental goals for 2030 and 2050, by exploiting low- carbon hydrogen as a bridging technology in the short term. The Commission should therefore assess how much low-carbon hydrogen will be needed for decarbonisation purposes until renewable hydrogen can play this role alone, in which cases, and for how long. In addition, the Commission and the Member States should reduce regulatory and economic hurdles in order to foster a quick market uptake of renewable hydrogen.
Amendment 108 #
2021/0218(COD)
Proposal for a directive
Recital 30 c (new)
Recital 30 c (new)
(30c) The Union regulatory framework and initiatives aimed at achieving the greenhouse gas emission reduction targets should support the industry to shift towards a more sustainable European energy system, especially when establishing new targets and production thresholds.
Amendment 121 #
2021/0218(COD)
Proposal for a directive
Recital 35
Recital 35
(35) To ensure higher environmental effectiveness of the Union sustainability and greenhouse emissions saving criteria for solid biomass fuels in installations producing heating, electricity and cooling, the minimum threshold for the applicability of such criteria should be lowered from the current 20 MW to 510 MW.
Amendment 128 #
2021/0218(COD)
Proposal for a directive
Recital 37
Recital 37
(37) In order to reduce the administrative burden for producers of renewable fuels and recycled carbon fuels and for Member States, where voluntary or national schemes have been recognised by the Commission through an implementing act as giving evidence or providing accurate data regarding the compliance with sustainability and greenhouse gas emissions saving criteria as well as other requirements set in this Directive, Member States should accept the results of the certification issued by such schemes within the scope of the Commission’s recognition. In order to reduce the burden on small installations, Member States should establish a simplified verification mechanism for installations of between 5 and 120MW.
Amendment 132 #
2021/0218(COD)
Proposal for a directive
Recital 39
Recital 39
(39) The Governance Regulation (EU) 2018/1999 makes several references in a number of places to the Union-level binding target of at least 32 % for the share of renewable energy consumed in the Union in 2030. As that target needs to be increased in order to contribute effectively to the ambition to decrease greenhouse gas emissions by 55 % by 2030, those references should be amended. Any additional planning and reporting requirements set will not create a new planning and reporting system, but should be subject to the existing planning and reporting framework under Regulation (EU) 2018/1999.
Amendment 136 #
2021/0218(COD)
Proposal for a directive
Recital 47 a (new)
Recital 47 a (new)
(47a) The transport demand growth is a consequence of both population and economic growth. It makes more sense tackling the cause of the problem than focusing on consequences. A strategy to fight climate change should aim at decreasing the demand for polluting transportmodes by investing in renewable energy and vehicle energy efficiency. The strategy should also aim at stimulating public- and non- motorized transport for urban passengers and freight rail
Amendment 137 #
2021/0218(COD)
Proposal for a directive
Recital 47 b (new)
Recital 47 b (new)
(47b) Biomass is scarce; stimulating the use of biofuel will contribute to bio- diversity loss. This will cause a problem shift from the energy sector to the ecosystem. Experts expect there will be an average gap of 50% between biomass demand and biomass supply in 2050. The EU should avoid using imported biomass that contributes to biodiversity loss and possible food shortages in third countries.
Amendment 138 #
2021/0218(COD)
Proposal for a directive
Recital 47 c (new)
Recital 47 c (new)
(47c) EU objectives, rules and regulations should be realistic and consistent. EU policies should be aligned with the EU objective to have less and better regulations and should be simple and practical to be effective. A solid approach can only derive from an integrated approach avoiding a patchy nature of climate-related regulations e.g. Renewable Energy Directive (RED), European Union Emissions Trading System (EU ETS), Energy Taxation Directive (ETD), Energy Efficiency Directive (EED), Alternative Fuels Infrastructure Regulation (AFIR), ReFuelEU Aviation and FuelEU Maritime. The EU should avoid revising regulations in a short time frame. Implementation of revised regulations by the transport sector takes time and effort.
Amendment 165 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a
Article 1 – paragraph 1 – point 2 – point a
1. Member States shall collectively ensure that the share of energy from renewable sources in the Union’s gross final consumption of energy in 2030 is at least 4032%.;
Amendment 169 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point b
Article 1 – paragraph 1 – point 2 – point b
Directive (EU) 2018/2001/EC
Article 3 – paragraph 3 – subparagraph 1
Article 3 – paragraph 3 – subparagraph 1
3. Member States shall take measures to ensure that energy from biomass is produced in a way that minimises undue distortive effects on the biomass raw material market and harmful impacts on biodiversity. To that end , they shall take into account the waste hierarchy as set out in Article 4 of Directive 2008/98/EC and the cascading principle referred to in the third subparagraph.
Amendment 174 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point b
Article 1 – paragraph 1 – point 2 – point b
Directive (EU) 2018/2001/EC
Article 3 – paragraph 3 – subparagraph 2
Article 3 – paragraph 3 – subparagraph 2
Amendment 175 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point b
Article 1 – paragraph 1 – point 2 – point b
Directive (EU) 2018/2001/EC
Article 3 – paragraph 3 – subparagraph 2 – point a
Article 3 – paragraph 3 – subparagraph 2 – point a
Amendment 188 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point b
Article 1 – paragraph 1 – point 2 – point b
Directive (EU) 2018/2001/EC
Article 3 – paragraph 3 – subparagraph 2 – point b
Article 3 – paragraph 3 – subparagraph 2 – point b
Amendment 195 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point b
Article 1 – paragraph 1 – point 2 – point b
Amendment 200 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point b
Article 1 – paragraph 1 – point 2 – point b
Directive (EU) 2018/2001
Article 3 – paragraph 3 – subparagraph 4
Article 3 – paragraph 3 – subparagraph 4
Amendment 210 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3 – point c
Article 1 – paragraph 1 – point 3 – point c
Directive (EU) 2018/2001
Article 7 – paragraph 4 – point a
Article 7 – paragraph 4 – point a
Amendment 211 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 4 – point a
Article 1 – paragraph 1 – point 4 – point a
Directive (EU) 2018/2001
Article 9 – paragraph 1a
Article 9 – paragraph 1a
Amendment 212 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 4 – point a
Article 1 – paragraph 1 – point 4 – point a
Directive (EU) 2018/2001
Article 9 – paragraph 1a
Article 9 – paragraph 1a
Amendment 216 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Directive (EU) 2018/2001
Article 15a
Article 15a
Amendment 227 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive (EU) 2018/2001
Article 20 – paragraph 3
Article 20 – paragraph 3
3. Subject to their assessment included in the integrated national energy and climate plans in accordance with Annex I to Regulation (EU) 2018/1999 on the necessity to build new infrastructure for district heating and cooling from renewable sources in order to achieve the Union target set in Article 3(1) of this Directive, Member States shall, where relevant, take the necessary steps funded partially or completely by the European Union funds, with a view to developing efficient district heating and cooling infrastructure to promote heating and cooling from renewable energy sources, including solar energy, ambient energy, geothermal energy, biomass, biogas, bioliquids and waste heat and cold, in combination with thermal energy storage.;
Amendment 237 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 11
Article 1 – paragraph 1 – point 11
Directive (EU) 2018/2001
Article 22a – paragraph 1 – subparagraph 1
Article 22a – paragraph 1 – subparagraph 1
1. Member States shall endeavour to increase the share of renewable sources in the amount of energy sources used for final energy and non-energy purposes in the industry sector by an indicative average minimum annual increase of 1.1 percentage points by 2030.
Amendment 241 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 11
Article 1 – paragraph 1 – point 11
Amendment 260 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 14
Article 1 – paragraph 1 – point 14
Directive (EU) 2018/2001
Article 25 – paragraph 1– subparagraph 1 – point b
Article 25 – paragraph 1– subparagraph 1 – point b
(b) the share of advanced biofuels and biogas produced from the feedstock listed in Part A of Annex IX in the energy supplied to the transport sector is at least 0,2 % in 2022, 0,5 % in 2025 and 2,2 % in 2030, and tThe share of renewable fuels of non-biological origin is at least 2,6 % in 2030.
Amendment 264 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 14
Article 1 – paragraph 1 – point 14
Directive (EU) 2018/2001
Article 25 – paragraph 1 – subparagraph 2
Article 25 – paragraph 1 – subparagraph 2
For the calculation of the reduction referred to in point (a) and the share referred to in point (b), Member States shall take into account renewable fuels of non-biological origin also when they are used as intermediate products for the production of conventional fuels. For the calculation of the reduction referred to in point (a), Member States may not take into account recycled carbon fuels.
Amendment 278 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 15 – point a – point i
Article 1 – paragraph 1 – point 15 – point a – point i
Directive (EU) 2018/2001
Article 26 – paragraph 1 – subparagraph 1
Article 26 – paragraph 1 – subparagraph 1
For the calculation of a Member State's gross final consumption of energy from renewable sources referred to in Article 7 and of the greenhouse gas intensity reduction target referred to in Article 25(1), first subparagraph, point (a), the share of biofuels and bioliquids, as well as of biomass fuels consumed in transport, where produced from food and feed crops, shall be no more than one percentage point higher than the share of such fuels in the final consumption of energy in the transport sector in 2020 in that Member State, with a maximum of 7 % of final consumption of energy in the transport sector in that Member Stateprohibited.;
Amendment 301 #
2021/0218(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 16 – point c
Article 1 – paragraph 1 – point 16 – point c
Directive (EU) 2018/2001
Article 27 – paragraph 1a – point c
Article 27 – paragraph 1a – point c
(c) the shares of advanced biofuels and biogas produced from the feedstock listed in Part A of Annex IX and of renewable fuels of non-biological origin supplied in the aviation and maritime modes shall be considered to be 1,2 times their energy content.;
Amendment 76 #
2021/0213(CNS)
Proposal for a directive
Recital 23
Recital 23
(23) Fuel used for waterbornesea going navigation, including fishing, should also be taxed, and the Member States party to international agreements providing for the exemption of that fuel, have to, by the date of the application of this Directive, ensure they eliminate the incompatibilities. It is necessary to allow for a different level of taxation to be applied to the use of energy products and electricity for intra-EU waterbornesea going regular service navigation, fishing and freight transport and their respective at berth activities. Considering the specificity of those uses, the minimum levels of taxation should be lower than the ones applicable to general motor fuel use. In order to provide an incentive to the use of sustainable alternative fuels and electricity, such fuels and electricity should be exempted from taxation for ten years. Energy products and electricity used for the remaining intra-EU waterbornesea going navigation should be subject to the standard levels of taxation applicable to motor fuels and electricity in the Member States.
Amendment 103 #
2021/0213(CNS)
Proposal for a directive
Article 3 – paragraph 1 a (new)
Article 3 – paragraph 1 a (new)
2003/96/EC
Article 3–paragraph 1
Article 3–paragraph 1
1 a. The following sector shall be added as 1c: Inland Waterway Transport
Amendment 140 #
2021/0213(CNS)
Proposal for a directive
Article 15 – paragraph 1 – introductory part
Article 15 – paragraph 1 – introductory part
Directive 2003/96/EC
Article 15–paragraph 1– introductory part
Article 15–paragraph 1– introductory part
1. Without prejudice to Article 5, Member states shall apply, as a single use, under fiscal control not less than minimum levels of taxation as set out in Tables B and D of Annex I to energy products supplied for use as fuel to vessels, and to electricity used directly for charging electric vessels, for the purposes of intra-EU waterbornesea going regular service navigation, fishing and freight transport.
Amendment 147 #
2021/0213(CNS)
Proposal for a directive
Article 15 – paragraph 1 – subparagraph 3
Article 15 – paragraph 1 – subparagraph 3
2003/96/EC
Article 15–paragraph 1– subparagraph 3
Article 15–paragraph 1– subparagraph 3
For the purposes of this Article, ‘intra-EU waterbornesea going navigation’ shall mean navigation between two ports located in the Union, including domestic navigation.
Amendment 152 #
2021/0213(CNS)
Proposal for a directive
Article 15 – paragraph 2
Article 15 – paragraph 2
Directive 2003/96/EC
Article 15– paragraph 2
Article 15– paragraph 2
2. Member states may exempt or apply the same levels of taxation applied for intra-EU waterbornesea going navigation to extra- EU waterbornesea going navigation according to the type of activity.
Amendment 156 #
2021/0213(CNS)
Proposal for a directive
Article 15 – paragraph 5
Article 15 – paragraph 5
Directive 2003/96/EC
Article 15 paragraph 5
Article 15 paragraph 5
5. Member States mayshall apply under fiscal control total or partial exemptions to electricity directly supplied to vessels berthed in ports.
Amendment 12 #
2020/2058(INI)
Draft opinion
Recital A a (new)
Recital A a (new)
A a. Whereas in the Sustainable Europe Investment Plan in the coming decennium EUR 1 trillion will be investment by 2030 in a wide range of diverse projects managed by different entities like the EC, member states, programmes;
Amendment 92 #
2020/2058(INI)
(1) Notes the risk of lack of control of the Sustainable Europe Investment Plan due to the large sums involved and the many entities managing different types of projects and programs. Stresses the need for adequate control and therefore the importance of timely (t+1) reporting on all investments involved to increase the ability to monitor progress adequately by adding a structural control loop (PDCA).
Amendment 93 #
2020/2058(INI)
Draft opinion
Paragraph 6 – point 2 (new)
Paragraph 6 – point 2 (new)
(2) Stresses the importance of a complete and working passenger rail network for the EU and the Green Deal and asks the Commission to allocate sufficient funding to connect all major cities in Europe. Notes the importance of central coordination of a programme to establish a complete, working, affordable passenger rail network in the EU for all citizens of all member states. Understands that financing one well managed programme for creating a European rail network is preferable to a lot of small rail projects that do not contributed to interconnectivity and Green Deal objectives.
Amendment 111 #
2020/0108(COD)
Proposal for a regulation
Article 27 – paragraph 3
Article 27 – paragraph 3
3. The Commission shall report on the implementation of the InvestEU Programme in accordance with Articles 241 and 250 of the Financial Regulation. In accordance with Article 41(5) of the Financial Regulation, the annual report shall provide information on the level of implementation of the Programme with respect to its objectives and performance indicators. For that purpose, each implementing partners shall provide on an annual basis the information necessary to allow the Commission to comply with its reporting obligations, including information on the operation of the EU guarantee. The performance reporting system provides real-time insights into the management and implementation of the InvestEU-program and is accessible for every EU citizen. This guarantees transparency of the resources spent and enhances accountability.
Amendment 236 #
2020/0104(COD)
Proposal for a regulation
Article 23 – paragraph 2
Article 23 – paragraph 2
2. The performance reporting system provides real-time insights into the management and implementation of the Facility and is accessible for every EU- citizen. This guaranties transparency of the resources spent. The performance reporting system shall ensure that data for monitoring the implementation of the activities and results are collected efficiently, effectively, and in a timely manner. To that end, proportionate reporting requirements shall be imposed on recipients of Union funding.
Amendment 58 #
2020/0035(COD)
Proposal for a decision
Recital 6
Recital 6
(6) By connecting the Union’s main transport routes and cities with its peripheral regions and territories, where possible with high-speed links, the rail sector contributes to social, economic and territorial cohesion.
Amendment 72 #
2020/0035(COD)
Proposal for a decision
Recital 7
Recital 7
(7) While tThe share of passenger rail in the Union land transport has only slightly increased since 2007, the share of freight has decreased. Many obstacles remain to achieve a true Single European Rail Area, including in respect of the need to minimise noise. These obstacles need to be identified and overcome. Overcoming these obstacles together with cost reduction and accelerated innovation will allow rail to realise its full potential. RailIt is therefore needscessary to plan high-speed connections between all major cities in the EU, of which passengers can take full advantage in the future, thereby giving rail a further boost to become more attractive to travellers and businesses alike.
Amendment 132 #
2020/0035(COD)
Proposal for a decision
Article 2 – paragraph 1 – point d a (new)
Article 2 – paragraph 1 – point d a (new)
(da) to produce a consolidated plan for high-speed rail connections for passengers between all major EU cities, of which the main ones can be developed 2040.
Amendment 160 #
2020/0035(COD)
Proposal for a decision
Article 3 – paragraph 1 – point e a (new)
Article 3 – paragraph 1 – point e a (new)
(ea) the organisation of a European Commission and Council summit to decide on a consolidated plan and the projected development and construction of high-speed train connections between all major EU cities.