Activities of Isabelle DURANT related to 2011/0301(COD)
Plenary speeches (1)
Financial aid in the field of the trans-European transport and energy networks (debate)
Amendments (18)
Amendment 4 #
Proposal for a regulation
Recital 3
Recital 3
(3) Over the next decade, unprecedented investment volumes in Europe's transport, energy, information and communication networks will be needed in order to underpin the Europe 2020 flagship actions and develop smart, upgraded and fully interconnected infrastructures to foster the completion of the internal market. Estimated investment needs of the TEN-T network amount to EUR 500 billion. Among energy infrastructure projects of European relevance, approximately EUR 100 billion of investments is at risk of not being delivered due to obstacles related to permit granting, regulation and financing, while another EUR 100 billion will be financed by the sector itself. Investment needs for achieving the Digital Agenda objective of providing fast internet access for all European citizens and businesses range from EUR 181 to EUR 273 billion, of which private sector investment is expected to amount to between EUR 30 billion and EUR 100 billion. One should ensure, however, that EU-funded transport infrastructure takes into account energy efficiency needs, noise reduction at the source, biodiversity and climate change challenges.
Amendment 8 #
Proposal for a regulation
Recital 9 a (new)
Recital 9 a (new)
(9a) A further step forward which should be carefully assessed and reported to the European Parliament and the Council is the public issuing of project bonds by the Union, targeted to financing sustainable infrastructure projects with European Added Value (i.e. TEN-T, TEN-E, etc.).
Amendment 10 #
Proposal for a regulation
Recital 14
Recital 14
(14) Therefore, a pilot phase for the Europe 2020 Project Bond Initiative should be launched during the current financial framework in order to develop debt capital market financing in the area of infrastructure more generally and to extend the range of financial instruments currently available for transport projects, bearing in mind that the costs of transport should be reflected in its price in an undistorted way, as indicated in the White Paper on Transport Policy of 2011.
Amendment 13 #
Proposal for a regulation
Recital 20
Recital 20
(20) Budgetary funds should be requested by the EIB on the basis of a range of projects, which the EIB would deem suitable and likely to be realised. Any such requests should be made prior to 31 December 2013. Due to the complexity of large infrastructure projects, the actual approval might take place at a later date, but no later than 31 December 2014. The selection of projects eligible for the EU funding should reflect the need for infrastructure that minimises the impact on the environment, that is resilient to the possible impact of climate change, health and that improve the safety and security of users.
Amendment 15 #
Proposal for a regulation
Recital 3
Recital 3
(3) Over the next decade, unprecedented investment volumes in Europe's transport, energy, information and communication networks will be needed in order to underpin the Europe 2020 flagship actions and develop smart, upgraded and fully interconnected infrastructures to foster the completion of the internal market. Estimated investment needs of the TEN-T network amount to EUR 500 billion. Among energy infrastructure projects of European relevance, approximately EUR 100 billion of investments is at risk of not being delivered due to obstacles related to permit granting, regulation and financing, while another EUR 100 billion will be financed by the sector itself. Investment needs for achieving the Digital Agenda objective of providing fast internet access for all European citizens and businesses range from EUR 181 to EUR 273 billion, of which private sector investment is expected to amount to between EUR 30 billion and EUR 100 billion. It should be ensured, however, that EU-funded transport infrastructure takes into account energy-efficiency needs, noise reduction at source, biodiversity and climate-change challenges.
Amendment 15 #
Proposal for a regulation
Recital 20 a (new)
Recital 20 a (new)
(20a) Other sources of funding to be considered include schemes for the internalisation of external costs and infrastructure use charges, which could create additional revenue streams making infrastructure investments more attractive to private capital.
Amendment 16 #
Proposal for a regulation
Recital 20 b (new)
Recital 20 b (new)
(20b) Price signals play a crucial role in many decisions that have long-lasting effects on the transport system. Transport charges and taxes must be restructured in the direction of wider application of the 'polluter-pays' and 'user-pays' principle. They should underpin transport's role in promoting European competitiveness and cohesion objectives, while the overall burden for the sector should reflect the total costs of transport including infrastructure and external costs. Wider socioeconomic benefits and positive externalities justify some level of public funding, but in the future, transport users are likely to pay for a higher proportion of the costs than today. It is important that correct and consistent monetary incentives are given to users, operators and investors.
Amendment 21 #
Proposal for a regulation
Recital 9 a (new)
Recital 9 a (new)
(9a) A further step forward which should be carefully assessed and reported to the European Parliament and the Council is the public issuing of project bonds by the Union, targeted at financing sustainable infrastructure projects with European added value (i.e. TEN-T, TEN-E, etc.).
Amendment 22 #
Proposal for a regulation
Recital 10
Recital 10
(10) The Union support should mitigate the risk inherent in project bonds to the extent that capital market participants are willing to invest in a larger volume infrastructure project bonds than would be possible without Union support. As a counterpart for the socialisation of risk through the EU budget and EIB guarantees, appropriate public ownership and democratic accountability of financed projects has to be guaranteed.
Amendment 24 #
Proposal for a regulation
Recital 10 a (new)
Recital 10 a (new)
(10a) The socialisation of risks through risk-taking by the Union and the EIB should in principle be compensated through the premium charged for compensation; if this is not the case, it should be explicitly mentioned and appropriately justified.
Amendment 27 #
Proposal for a regulation
Recital 12
Recital 12
(12) The reassessment of infrastructure investment programmes by Member States in the context of their fiscal austerity and structural reforms will not facilitate the required acceleration of the pace of infrastructure investment needed to meet the policy objectives of the Europe 2020 strategy, in particular a shift towards a resource-efficient, low-carbon economy to achieve sustainable growth, as laid down in the Europe 2020 resource efficiency flagship initiative. In addition, long-term bank lending for infrastructure projects continues to be insufficient and expensive, calling for alternative and competitive sources of debt financing.
Amendment 28 #
Proposal for a regulation
Recital 14
Recital 14
(14) Therefore, a pilot phase for the Europe 2020 Project Bond Initiative should be launched during the current financial framework in order to develop debt capital market financing in the area of infrastructure more generally and to extend the range of financial instruments currently available for transport projects, bearing in mind that the costs of transport should be reflected in its price in an undistorted way, as indicated in the White Paper entitled Roadmap to a Single European Transport Area - Towards a competitive and resource efficient transport system of 28 March 2011.
Amendment 29 #
Proposal for a regulation
Recital 15
Recital 15
(15) In order to implement the pilot phase of the Europe 2020 Project Bond Initiative, Decision No 1639/2006/EC and Regulation (EC) No 680/2007 should be amended. This pilot phase aims to support infrastructure projects with commercial potential and socio-economic benefits in line with the Europe 2020 strategy, in particular the resource efficiency flagship initiative, in the transport, energy and ICT sectors, while after 2013 the initiative mayshould be extended to other sectors, in particular to renewable energy and building renovation.
Amendment 35 #
Proposal for a regulation
Recital 18 a (new)
Recital 18 a (new)
(18a) The selection of projects to be supported should respect relevant environmental, social and climate criteria as outlined in the "European Principles for the Environment" and "The EIB Statement of Environmental and Social Principles and Standards". The EIB should fully apply the procedures contained in its Environmental and Social Practices Handbook.
Amendment 36 #
Proposal for a regulation
Recital 20
Recital 20
(20) Budgetary funds should be requested by the EIB on the basis of a range of projects, which the EIB would deem suitable and likely to be realised. Any such requests should be made prior to 31 December 2013. Due to the complexity of large infrastructure projects, the actual approval might take place at a later date, but no later than 31 December 2014. The selection of projects eligible for EU funding should reflect the need for infrastructure that minimises the impact on the environment, that is resilient to the possible impact of climate change, and that improves the health, safety and security of users.
Amendment 39 #
Proposal for a regulation
Recital 20 a (new)
Recital 20 a (new)
(20a) Other sources of funding to be considered include schemes for the internalisation of external costs and infrastructure use charges, which could create additional revenue streams making infrastructure investments more attractive to private capital.
Amendment 42 #
Proposal for a regulation
Article 1 – point 2 – point a
Article 1 – point 2 – point a
Decision No 1639/2006/EC
Article 31 – paragraph 2 – subparagraph 1
Article 31 – paragraph 2 – subparagraph 1
2. The projects shall aim to promote innovation, technology transfer and the dissemination of new technologies that are ready for market uptake, with priority to the integration of renewable energy and environmentally sustainable transport.
Amendment 45 #
Proposal for a regulation
Article 1 – point 2 – point b
Article 1 – point 2 – point b
2c. The detailed terms and conditions for implementing the risk-sharing instrument for project bonds, including its monitoring and control, shall be laid down in a delegation agreement between the Commission and the EIB. This agreement shall aim at ensuring appropriate public ownership for the projects benefiting from the risk-sharing instrument for project bonds and refer to relevant Commission and EIB selection criteria in the social, environmental and climate field. It shall also include modalities for ensuring that in principle the premium charged for compensation of risk-taking by the Union and the EIB corresponds to full risk- taking compensation. Where full compensation is not applied, this transfer of risk shall be made explicit and the cost- benefit analysis shall identify positive externalities generated by the project justifying such an approach.