BETA

35 Amendments of Carolina PUNSET related to 2018/0178(COD)

Amendment 149 #
Proposal for a regulation
Recital 9 a (new)
(9 a) In addition, where appropriate, labelling financial products or corporate bonds as environmentally harmful with uniform criteria would provide additional market information with regard to economic activities that significantly harm environmental objectives and would enable the financial market to gradually channel private investments towards environmentally neutral economic activities, which have no specific label, or environmentally sustainable economic activities. It will also enable the Union and Member States to end public financial support for investments that significantly harm environmental objectives.
2018/12/17
Committee: ECONENVI
Amendment 169 #
Proposal for a regulation
Recital 13
(13) A Union classification of environmentally sustainable economic activities should enable the development of future Union policies and strategies, including Union- wide standards for environmentally sustainable financial products and eventually the establishment of labels that formally recognise compliance with those standards across the Union. Uniform legal requirements for considering investments as environmentally sustainable investments, based on uniform criteria for environmentally sustainable economic activities, are necessary as a reference for future Union legislation aiming at enabling those investments.
2018/12/17
Committee: ECONENVI
Amendment 189 #
Proposal for a regulation
Recital 17
(17) To avoid circumvention of the disclosure obligation, that obligation should also apply where financial products are offered as having similar characteristics as environmentally sustainable investments, including those having as their target environmental protection in a broad sensepply to all financial products. Financial market participants should not be required to invest only in environmentally sustainable economic activities determined in accordance with the technical screening criteria set out in this Regulation. TheyFinancial market participants and other actors should be encouraged to inform the Commission if they consider that an economic activity that does not meetis incorrectly considered to fulfil or not fulfil the technical screening criteria, or for which such criteria have not been established yet, should be considered environmentally sustainable, to help the Commission to evaluate the appropriateness of complementing or updating the technical screening criteria.
2018/12/17
Committee: ECONENVI
Amendment 193 #
Proposal for a regulation
Recital 18
(18) For the purposes of determining whether an economic activity is environmentally sustainable or environmentally harmful, an exhaustive list of environmental objectives should be laid down.
2018/12/17
Committee: ECONENVI
Amendment 194 #
Proposal for a regulation
Recital 20
(20) For each environmental objective, uniform criteria for considering economic activities to be substantially contributing to that objective should be laid down. OneAnother element of the uniform criteria should be to avoididentifying economic activities that significantly harm to any of the environmental objectives set out in this Regulation. This is in order to avoid that investments are considered environmentally sustainable although the economic activities benefitting from those investments cause harm to the environment to an extent outweighing their contribution to an environmental objective. The conditions for substantial contribution and for not causing significant harm should enable investments into environmentally sustainable economic activities to make a real contribution to the environmental objectives and should enable to gradually shift investments away form environmentally harmful economic activities.
2018/12/17
Committee: ECONENVI
Amendment 214 #
Proposal for a regulation
Recital 26 a (new)
(26 a) In defining the technical screening criteria, the Commission should also take into account transitional measures towards activities that support the transition to a sustainable low-carbon economy.
2018/12/17
Committee: ECONENVI
Amendment 245 #
Proposal for a regulation
Recital 35
(35) The application of this Regulation should be reviewed regularly in order to assess the progress on the development of technical screening criteria for environmentally sustainable and environmentally harmful activities, and the use of the definition of environmentally sustainable investment, and whether compliance with the obligations requires the establishment of a verification mechanism. The review should include also an assessment of whether the scope of this Regulation should be extended to cover social sustainability objectives. By 31 March 2020, the Commission should, where appropriate, publish legislative proposals on the establishment of a verification mechanism of compliance.
2018/12/17
Committee: ECONENVI
Amendment 252 #
Proposal for a regulation
Article 1 – paragraph 1
1. This Regulation establishes the criteria for determining whether an economic activity is environmentally sustainable or environmentally harmful for the purposes of establishing the degree of environmental sustainability of an investment.
2018/12/17
Committee: ECONENVI
Amendment 262 #
Proposal for a regulation
Article 1 – paragraph 2 – point a
(a) measures adopted by Member States or by the Union setting out any requirements on market actors in respect of financial products or corporate bonds that are marketed as environmentally sustainable.
2018/12/17
Committee: ECONENVI
Amendment 266 #
Proposal for a regulation
Article 1 – paragraph 2 – point a a (new)
(a a) public financial assistance by Member States or by the Union to investments.
2018/12/17
Committee: ECONENVI
Amendment 267 #
Proposal for a regulation
Article 1 – paragraph 2 – point b
(b) financial market participants offering financial products as environmentally sustainable investments or as investments having similar characteristics, where the use of the taxonomy set out in this Regulation and disclosure requirements set out in Article 4 paragraph 2 to define whether a financial product is environmentally sustainable or environmentally harmful is optional for a financial market participant acquiring a financial product and does not establish additional requirements beyond those set out in Directive 2007/36/EC.
2018/12/17
Committee: ECONENVI
Amendment 283 #
Proposal for a regulation
Article 1 – paragraph 2 a (new)
2 a. The criteria referred to in Article 1 (1) may be used for the purpose mentioned in that paragraph by financial services providers that are not addressed by Article 1(2) on a voluntary basis, and with respect to other financial products than those established in the first paragraph of Article 2.
2018/12/17
Committee: ECONENVI
Amendment 287 #
Proposal for a regulation
Article 2 – paragraph 1 – point a a (new)
(a a) 'environmentally harmful' means an investment that funds one or several economic activities that qualify under this Regulation as environmentally harmful.
2018/12/17
Committee: ECONENVI
Amendment 338 #
Proposal for a regulation
Article 3 a (new)
Article 3 a Criteria for environmentally harmful economic activities For the purposes of establishing the degree of environmental sustainability of an investment, an economic activity shall be environmentally harmful where that activity complies with the following criteria: (a) the economic activity significantly harms any of the environmental objectives set out in Article 5 in accordance with Article 12; (b) the economic activity fulfils the technical screening criteria for harmful activities, where the Commission has specified those in accordance with Articles 6(2), 7(2), 8(2), 9(2), 10(2) and 11(2). (c) the economic activity does not significantly support the sustainable transition by contributing to the environmental objecives set out in Article 5 in accordance with Article 12.
2018/12/17
Committee: ECONENVI
Amendment 340 #
Proposal for a regulation
Article 4 – title
Use of the criteria for environmentally sustainable and environmentally harmful economic activities
2018/12/17
Committee: ECONENVI
Amendment 343 #
Proposal for a regulation
Article 4 – paragraph 1
1. Member States shall apply the criteria for determining environmentally sustainable economic activities set out in Article 3 and the criteria for environmentally harmful economic activities set out in Article 3a for the purposes of any measures setting out requirements on market actors in respect of financial products or corporate bonds that are marketed as ‘environmentally sustainable’.
2018/12/17
Committee: ECONENVI
Amendment 348 #
Proposal for a regulation
Article 4 – paragraph 1 a (new)
1 a. The Union and the Member States shall also apply the criteria for determining environmentally sustainable economic activities set out in Article 3 and the criteria for environmentally harmful economic activities set out in Article 3a for the purposes of requirements for Union and Member State public financial assistance to investments inter alia in the form of guaranties, equity, lending, subsidies, grants, export credits or public contracts. The Union and the Member States shall not support with public financial assistance environmentally harmful economic activities.
2018/12/17
Committee: ECONENVI
Amendment 353 #
Proposal for a regulation
Article 4 – paragraph 2
2. Financial market participants offering financial products as environmentally sustainable investments, or as investments having similar characteristics, shall disclose information on how and to what extent the criteria for environmentally sustainable economic activities set out in Article 3 are used to determine the environmental sustainability of the investmennd the criteria for environmentally harmful economic activities set out in Article 3a apply to a financial product. Where financial market participants consider that an economic activity which does not comply with the technical screening criteria set out in accordance with this Regulation or for which those technical screening criteria have not been established yet, should be considered environmentally sustainable, they may inform the Commission.
2018/12/17
Committee: ECONENVI
Amendment 355 #
Proposal for a regulation
Article 4 – paragraph 2
2. Financial market participants offering financial products as environmentally sustainable investments, or as investments having similar characteristics, shall disclose information on how and to what extent the criteria for environmentally sustainable economic activities set out in Article 3 are used to determine the environmental sustainability of the investment. Where financial market participants or other actors consider that an economic activity which does not comply withis incorrectly considered fulfilling or not fulfilling the technical screening criteria set out in accordance with this Regulation or for which those technical screening criteria have not been established yet, should be considered environmentally sustainable, they may inform the Commission.
2018/12/17
Committee: ECONENVI
Amendment 362 #
Proposal for a regulation
Article 4 – paragraph 2 – subparagraph 1 (new)
No disclosure requirements under the [PO please insert reference to Regulation on disclosures relating to sustainable investments and sustainability risks and amending Directive (EU) 2016/2341] shall be required in this Regulation;
2018/12/17
Committee: ECONENVI
Amendment 370 #
Proposal for a regulation
Article 4 – paragraph 3 – introductory part
3. The Commission shall adopt delegated acts in accordance with Article 16 to supplement paragraph 2 to specify the information required to comply with that paragraph, taking into account the availability of relevant information and technical screening criteria set out in accordance with this Regulation. That information shall enable investors to identify:
2018/12/17
Committee: ECONENVI
Amendment 375 #
Proposal for a regulation
Article 4 – paragraph 3 – point a a (new)
(a a) the percentage of holdings pertaining to companies carrying out environmentally harmful economic activities;
2018/12/17
Committee: ECONENVI
Amendment 382 #
Proposal for a regulation
Article 4 – paragraph 3 – point b a (new)
(b a) the share of the investment funding environmentally harmful economic activities as a percentage of all economic activities.
2018/12/17
Committee: ECONENVI
Amendment 419 #
Proposal for a regulation
Article 6 – paragraph 1 – point b
(b) improving energy efficiency;, except where it concerns more energy efficient energy generation using solid fossil fuels.
2018/12/17
Committee: ECONENVI
Amendment 424 #
Proposal for a regulation
Article 6 – paragraph 1 – point c
(c) increasing clean or climate-neutralzero-emissions mobility;
2018/12/17
Committee: ECONENVI
Amendment 426 #
Proposal for a regulation
Article 6 – paragraph 1 – point e
(e) increasing carbon capture and storage use;in industrial sectors the use of environmentally safe carbon capture and storage (CCS) and environmentally safe carbon capture and utilisation (CCU) delivering a net reduction in emissions and avoidance or permanent storage of CO2.
2018/12/17
Committee: ECONENVI
Amendment 460 #
Proposal for a regulation
Article 9 – paragraph 1 – point d
(d) reducing the content of hazardous substances in materials and products, in accordance with the provisions laid down by EU legislation ensuring safe management of substances, materials and products;
2018/12/17
Committee: ECONENVI
Amendment 504 #
Proposal for a regulation
Article 12 – paragraph 1 – introductory part
For the purposes of Article 3(b), an economic activity, taking into account the life-cycle, shall be considered as significantly harming:
2018/12/17
Committee: ECONENVI
Amendment 505 #
Proposal for a regulation
Article 12 – paragraph 1 – introductory part
For the purposes of Article 3(b), and Article 3a an economic activity shall be considered as significantly harming:
2018/12/17
Committee: ECONENVI
Amendment 516 #
Proposal for a regulation
Article 12 – paragraph 1 a (new)
1a.The Commission shall adopt delegated acts in accordance with Article 16, for the purpose of Article 3a, to establish technical screening criteria for each relevant environmental objective, for determining whether an economic activity is considered to cause significant harm to one or more of those objectives, taking into account, where relevant, the requirements laid down in Article 14. The Commission shall adopt the delegated acts by 1 July 2022, with a view to ensure its entry into application on 31 December 2022.
2018/12/17
Committee: ECONENVI
Amendment 542 #
Proposal for a regulation
Article 14 – paragraph 1 – point f
(f) take into account the environmental impacts of the economic activity itself, as well as of the products and services provided by that economic activity, throughout the life-cycle, notably by considering their production, use and end- of-life;
2018/12/17
Committee: ECONENVI
Amendment 549 #
Proposal for a regulation
Article 14 – paragraph 1 – point h a (new)
(h a) take into account if an activity is in transition to a sustainable configuration and/or operation, through research and innovation projects, specific timelines and pathways of this transition;
2018/12/17
Committee: ECONENVI
Amendment 604 #
Proposal for a regulation
Article 15 – paragraph 3
3. The Platform on Sustainable Finance shall be chaired by the Commission and the Commission horizontal rules for expert groups shall apply to the Platform.
2018/12/17
Committee: ECONENVI
Amendment 613 #
Proposal for a regulation
Article 15 a (new)
Article 15 a Verification mechanism of compliance By 31 March 2020, the European Commission shall, where appropriate, make proposals on a verification mechanism of compliance with this Regulation, including a mandate for the competent authorities on Member State and Union level to assess and monitor the compliance with this Regulation of Member States and financial market participants.
2018/12/17
Committee: ECONENVI
Amendment 662 #
Proposal for a regulation
Article 18 – paragraph 2 a (new)
2 a. This Regulation shall respect the principle of non-retroactivity and shall not apply to contracts concluded before date of entry into force of this Regulation, as established under paragraph 1 of this Article.
2018/12/17
Committee: ECONENVI