Activities of Indrek TARAND related to 2016/2098(INI)
Shadow reports (1)
REPORT on the annual report on the control of the financial activities of the EIB for 2015 PDF (413 KB) DOC (76 KB)
Amendments (31)
Amendment 18 #
Motion for a resolution
Recital E
Recital E
E. whereas safeguards against fraud, including tax fraud and money laundering, and against the financing of terrorism risks are contained in EIB contractual provisions included in the contracts signed between the EIB Group and its counterparties; whereas the EIB also expects its counterparties to comply with all applicable legislation; whereas additional contractual provisions addressing specific transparency and integrity issues canshould be imposed by the EIB on the basis of due diligence results;
Amendment 26 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the EIB’s annual reports for 2015 and its achievements presented therein, and the efforts achieved for a better presentation and reporting the EIB’s contribution (or additionality) and results;
Amendment 37 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Emphasises that all EIB-financed activities must be part of and steadily consistent with the EU’s general strategy and political priority areas as defined in the Europe 2020 strategy, the Growth and Employment Facility and the Compact for Growth and Jobs, while integrating the economic and, financial efficiency and environmental impact criteria;
Amendment 47 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Recalls that supporting economic recovery and sustainable growth is an overarching objective and that the EIB should better anticipate structural challenges, notably those related to Europe’'s re- industrialisation and the knowledge-based and digital economy, in order to generate new economic opportunities, innovation and better use of renewables in line with the goals of environmental, climate orand energy policies;
Amendment 51 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Is of the opinion that the EIB should systematically pay attention to mid- and long-term economic, social and environmental effects when defining investment actions and its funding decisions; considers it necessary for the EIB to invest in both large and small-scale sustainable projects of systemic importance in the long term;
Amendment 52 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Believes alsoEmphasizes that the soundness of funded projects should notby definition be assessed not only in terms of economic relevance but also with an equally strong focus on environmental and social sustainability; recalls that prioritisation within the EIB’s lending activities on projects with clear and sustainable deliverables and impact on growth and employment must remain the core guiding principle;
Amendment 62 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Believes there is a need to secure a resilient and sustainable EU funding strategy to speed up economic recovery and help certain economic sectors and geographical areas catch up; recalls the need to focus on sustainable investment making a difference; believes that projects should be chosen on the basis of their own merits and effective additionality, possibly wi but not on the a higher risk profileccount of the harmful environmental impacts;
Amendment 65 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Reiterates, in this respect, that more informationa detailed ex-ante assessment should be givenpresented on the precise nature of individual projects funded directly or indirectly through the EIB’s lending activities, and, in particular, on their added value and expected economic, social and environmental impacts;
Amendment 69 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Reiterates Parliament’s concern about defining a balanced strategy with a dynamic and transparent geographical distribution of projects and investments among EU Member States taking into account the special focus on the less developed countries and regions; observes that 73 % of the EIB’s total lending for 2015 (EUR 51 billion) is concentrated in six Member States;
Amendment 74 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Considers it fundamental that the EIB keep its triple-A rating in order to preserve its access to international capital markets under the best borrowing conditions and to pass on the benefits in its investment strategy and lending conditions; is of the opinion, however, that the EIB should prioritise higher-value-added projects with a higher risk; calls on the EIB to develop its risk culture in order to improve its effectiveness and the complementarity and synergies between its interventions and various EU policies;
Amendment 84 #
Motion for a resolution
Paragraph 19
Paragraph 19
Amendment 100 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Invites the EIB to increase its intervention risk profile, especially when supporting SMEs which are taking risks or evolving in economic regions that have to be stabilised; believes also that the SME sector and its access to financing is a recurrent and longstanding objective to be pursued and further enhanced;
Amendment 105 #
Motion for a resolution
Paragraph 27
Paragraph 27
27. Notes that the EIB already finances investments in R&D by EU security companies where civilian and dual-use technologies are concerned; notesis of the opinion that, as regards dual-use technologies, the EIB is able toshould primarily support those investments that are motivated by their commercialisation in civilian applications – examples of EIB projects of this type already included R&D investments in aircraft and space supplies, radar systems, cybersecurity and cloud security, microelectronics and vaccines;
Amendment 113 #
Motion for a resolution
Paragraph 29
Paragraph 29
29. Invites the EIB to define a new global infrastructure agenda based on efficient and sustainable projects of common interest such as transport (Connected Europe), while considering their compatibility with climate policycompliant with the ratified Paris Climate Agreement objectives and regional development;
Amendment 117 #
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30a. Calls on the EIB to include the COP21 targets from the Paris Climate Agreement into its entire portfolio of future activities and duly report on the implementation of the Climate strategy and the compliance of individual Action Plans with the COP21 targets;
Amendment 118 #
Motion for a resolution
Paragraph 30 b (new)
Paragraph 30 b (new)
30b. Following up on the Paris Climate Agreement calls on the EIB to stop further investments in fossil fuels and the related part in the automotive industry and to invest in projects which truly contribute to climate change mitigation and adaptation;
Amendment 119 #
Motion for a resolution
Paragraph 30 c (new)
Paragraph 30 c (new)
30c. Points to the increase of the EIB's financing of fossil fuel projects which reached the level of 2.5 billion euro in 2015 compared to 2.4 billion euro in 2014 and 2.0 billion euro in 2013; in the context of the post Paris Climate Agreement framework calls on the EIB to deliver on the European Parliament's calls to phase out lending to fossil fuels from its portfolio from 2017 on;
Amendment 121 #
Motion for a resolution
Paragraph 30 e (new)
Paragraph 30 e (new)
30e. Asks the EIB to strengthen its Emissions' Performance Standard in 2017 by lowering it to 350 g of CO2/kWh;
Amendment 142 #
Motion for a resolution
Paragraph 43 a (new)
Paragraph 43 a (new)
43a. Calls on the EIB to use the opportunity given by the EFSI to increase financing for smaller-scale, off-grid decentralised renewable energy projects involving citizens and communities which face difficulties in obtaining finance from other sources;
Amendment 146 #
Motion for a resolution
Subheading 9
Subheading 9
Deepening the EIB’s transparency, accountability, integrity and internal control as a prerequisite for better corporate governance
Amendment 158 #
Motion for a resolution
Paragraph 52 a (new)
Paragraph 52 a (new)
52a. calls on the EIB to disclose the results of its own investigation into the seventeen loans exceeding in total EUR 4 billion to the Volkswagen Group between 2005 and 2015, out of which twelve loans aimed at fuel efficiency and emissions' reduction and five were classified as EIB's Climate Action;
Amendment 163 #
Motion for a resolution
Paragraph 55
Paragraph 55
55. Calls for a high level of transparency to be ensured in the EIB’s disclosure policy as regards its governance bodies, in particular through the disclosure of ththis regard welcomes the commitment to disclose minutes of the meetings of the EIB’s and EIF’s Board of Directors orand the EFSI Investment Committee and as regards projects of public interest benefiting from the EU budget guarantee and impacting EU territories and citizens; considers the disclosure of the scoreboard of indicators to be good practice for any operation and for the environmental and social impact assessments at the level of projects or subprojects;
Amendment 165 #
Motion for a resolution
Paragraph 55 a (new)
Paragraph 55 a (new)
55a. Calls on the EIB for a high level of transparency and publicity regarding the system of contracts and subcontracts between the EIB and its clients;
Amendment 169 #
Motion for a resolution
Paragraph 56
Paragraph 56
56. Invites the EIB, in accordance with its wide scope of intervention, to better prevent conflicts of interest in its governing bodies and potential revolving doors issues; refers to the letter sent by the European Ombudsman to the EIB President in July 2016 asking the bank to review its governance arrangements to help prevent potential conflicts of interest in the bank's governing bodies;
Amendment 172 #
Motion for a resolution
Paragraph 57
Paragraph 57
57. Welcomes the review of the rules of the Complaints Mechanism Office with a view to ensuring more independence within the EIB’s structure and improving its effectiveness, as well as of the Memorandum of Understanding between the European Ombudsman and the EIB, as well as the renewal of the Memorandum of Understanding between the European Ombudsman and the EIB; requests clarification from the EIB on the delay about the launch of a public consultation on the revision of the policies and procedures of its Complaints Mechanism; notes that such a revision process offers opportunity to further improve the independence and efficiency of the EIB Complaints mechanism;
Amendment 175 #
Motion for a resolution
Paragraph 58
Paragraph 58
58. Asks the EIB to pursuedo its outmost in its fight against tax evasion, tax fraud and avoidance, irregular activities and money laundering through its non-transparent and uncooperative jurisdictions (NCJ) policy and the Anti-Money Laundering and Combating the Financing of Terrorism Framework (AML-CFT);
Amendment 176 #
Motion for a resolution
Paragraph 58 a (new)
Paragraph 58 a (new)
58a. Calls on the EIB to establish a new responsible taxation policy in 2017, starting from the review of its policy on non-cooperative jurisdictions (NCJ policy) in cooperation with the European Commission; regrets that the EIB ignored previous calls from the European Parliament on this subject;
Amendment 177 #
Motion for a resolution
Paragraph 58 b (new)
Paragraph 58 b (new)
58b. Reiterates its call on the EIB to make both direct funding and funding via intermediaries contingent upon disclosure of country-by-country tax-relevant data;
Amendment 179 #
Motion for a resolution
Paragraph 59
Paragraph 59
59. Invites the EIB also to maintain regular cooperation with other international financial institutions through the exchange of information on the results of its corporate or tax due diligence or ‘Know Your Customer’ review and report annually to the European Parliament and the public on how it implements its NCJ policy;
Amendment 181 #
Motion for a resolution
Paragraph 60 a (new)
Paragraph 60 a (new)
60a. Encourages the European Court of Auditors (ECA) to actively carry out assessments on the performance of EIB lending activities; calls on the ECA to issue statements on the EIB's specific sectoral policies, according to the new Tripartite Agreement signed in 2016 between the ECA, the European Commission and the EIB;
Amendment 184 #
Motion for a resolution
Paragraph 61 a (new)
Paragraph 61 a (new)
61a. Calls on the EIB to revise the Policy on preventing and deterring prohibited conduct in the EIB's activities, which should set in stone the necessity for the EIB to stop financing and/or approving further loan disbursements to projects under on-going national or OLAF investigation for corruption and fraud;