Activities of Ramon TREMOSA i BALCELLS related to 2018/0229(COD)
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council establishing the InvestEU Programme PDF (1 MB) DOC (351 KB)
Amendments (17)
Amendment 158 #
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4a) The rules of the InvestEU Fund should endorse synergies with Member States’ resources under shared management, allowing in accordance with Article [10] of the Regulation [Common Provisions Regulation] and with Article [75] of the Regulation [Common Agriculture Policy] for voluntary contributions of part of Member States’ allocations into the InvestEU. This possibility should increase the added value of the EU backed budgetary guarantee by providing it to a wider range of final recipients and projects and diversifying the means of achieving the objectives of the funds under shared management.
Amendment 189 #
Proposal for a regulation
Recital 9
Recital 9
(9) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement and the United Nations Sustainable Development Goals, the InvestEU Programme will contribute to mainstream climate actions and to the swift achievement of an overall target of 2530 % of the Union budget expenditures supporting climate objectives. Actions under the InvestEU Programme are expected to contribute 340 % of the overall financial envelope of the InvestEU Programme to climate objectives. Relevant actions will be identified during the InvestEU Programme's preparation and implementation and reassessed in the context of the relevant evaluations and review processes.
Amendment 201 #
Proposal for a regulation
Recital 12
Recital 12
(12) Investment projects receiving substantial Union support, notably in the area of infrastructure, should be subject to sustainability proofing in accordance with guidance that should be developed by the Commission in cooperation with implementing partners under the InvestEU Programme and, using in an appropriate way the criteria established by [Regulation on establishment of a framework to facilitate sustainable investment] for determining whether an economic activity is environmentally sustainable and coherently with the guidance developed for other programmes of the Union. Such guidance should include adequate provisions to avoid undue administrative burden.
Amendment 230 #
Proposal for a regulation
Recital 19
Recital 19
(19) Each policy window should be composed of two compartments, that is to say an EU compartment and a Member State compartment. The EU compartment should address Union-wide market failures or sub-optimal investment situations in a proportionate manner; supported actions should have a clear European added value. The Member State compartment should give Member States the possibility to contribute a share of their resources of Funds under shared management to the provisioning of the EU guarantee to use the EU guarantee for financing or investment operations to address specific market failures or sub-optimal investment situations in their own territory, including in vulnerable and remote areas such as the outermost regions of the Union, to deliver objectives of the Fund under shared management. Actions supported from the InvestEU Fund through either EU or Member State compartments should not duplicate or crowd out private financing or distort competition in the internal market.
Amendment 235 #
Proposal for a regulation
Recital 19 a (new)
Recital 19 a (new)
(19a) Actions supported from the InvestEU Fund through either EU or Member State compartments should target sectors and issues where there are clear market or institutional failures inhibiting private sectors financing. InvestEU actions should focus on projects involving greater risks than private lenders are prepared to undertake on a commercial basis alone. They not duplicate or crowd out private financing or distort competition in the internal market.
Amendment 254 #
Proposal for a regulation
Recital 24
Recital 24
(24) The EU guarantee underpinning the InvestEU Fund should be implemented indirectly by the Commission relying on implementing partners with outreach to final recipients. There should be a level- playing field among all implementing partners and the selection of implementing partners should be transparent, justified by the nature of the intervention and free of any conflict of interests. A guarantee agreement allocating guarantee capacity from the InvestEU Fund should be concluded by the Commission with each implementing partner, to support its financing and investment operations meeting the InvestEU Fund objectives and eligibility criteria. The InvestEU Fund should be provided with a specific governance structure to ensure the appropriate use of the EU guarantee.
Amendment 279 #
Proposal for a regulation
Recital 28 a (new)
Recital 28 a (new)
(28a) The gender balance shall be ensured in the overall composition of the governance structure.
Amendment 423 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 1
Article 7 – paragraph 3 – subparagraph 1
Financing and investment operations under the sustainable infrastructure policy windows referred to in point (a) of paragraph (1) shall be subject to climate, environmental and social sustainability proofing with a view to minimise detrimental impacts and maximise benefits on climate, environment and social dimension. For that purpose, promoters requesting financing shall provide adequate information based on guidance to be developed by the Commission. Projects below a certain size defined in the guidance shall be excluded from the proofing.
Amendment 445 #
Proposal for a regulation
Article 7 a (new)
Article 7 a (new)
Amendment 498 #
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. The EU guarantee shall be granted to the implementing partners in accordance with [Article 219(1)] of the [Financial Regulation] and managed in accordance with [Title X] of the [Financial Regulation]. The EU guarantee shall be irrevocable, unconditional and provided on first demand to eligible counterparts for the financing and investment operations covered by this Regulation and its pricing shall be exclusively linked to the characteristics and risk profile of the underlying operations, taking into due account the nature of the underlying operations and the achievement of the policy objectives targeted, including the possible application of specific derogative terms and incentives as needed, in particular: (a) in situations where stressed financial market conditions would prevent the realisation of a viable project; (b) where necessary to facilitate the establishment of investment platforms or the funding of projects in sectors or areas experiencing a significant market failure and/or suboptimal investment situation; (c) where necessary to address the social infrastructure gap;
Amendment 501 #
Proposal for a regulation
Article 10 – paragraph 1 a (new)
Article 10 – paragraph 1 a (new)
Amendment 536 #
Proposal for a regulation
Article 12 – paragraph 1 – subparagraph 2
Article 12 – paragraph 1 – subparagraph 2
For the EU compartment, the eligible counterparts shall have expressed their interest and shall be able to cover financing and investment operations in at least thretwo or more Member States. The implementing partners may also cover together financing and investment operations in at least thretwo or more Member States by forming a group. The implementing partners, whose contractual responsibility is limited by their respective national mandates, may also address market failures or suboptimal investment situations with respective, locally adapted, comparable instruments.
Amendment 589 #
Proposal for a regulation
Article 17 – paragraph 5 – point a – point ii a (new)
Article 17 – paragraph 5 – point a – point ii a (new)
(iia) promote coordination and exchange of best practices in order to facilitate the role of the Commission to guarantee a uniform implementation of InvestEU by the different implementing partners;
Amendment 594 #
Proposal for a regulation
Article 17 a (new)
Article 17 a (new)
Article 17a Risk Assessment Methodology 1. The Commission in cooperation with the EIB Group and after consulting the advisory board, composed of the implementing actors, shall supplement this Regulation by establishing a risk assessment methodology. Such risk assessment methodology shall include: (a) a risk rating classification, to ensure consistent and standard treatment of all operations independent from the intermediary institution; (b) a methodology to assess the value at risk and the probability of default based on clear statistical methods, including environmental, social and governance (ESG) criteria; (c) a method to assess exposure at default and loss given default, taking into account the value of financing, the project risk, the repayment terms, the collateral, and other relevant indicators.
Amendment 598 #
Proposal for a regulation
Article 17 b (new)
Article 17 b (new)
Amendment 663 #
Proposal for a regulation
Article 19 – paragraph 4 – subparagraph 1
Article 19 – paragraph 4 – subparagraph 1
When acting in accordance with this Article, the Investment Committee shall be supported by the documentation provided by the implementing partners and any other document the Investment Committee considers relevant. Any project assessmentscoreboard provided conducted by an implementing partner shall not be binding on the Investment Committee for the purposes of a financing or investment operation benefiting from the coverage by the EU guarantee. The chairperson of the Investment Committee shall invite a representative of the relevant implementing partner to present its scoreboard and those representatives shall be available to respond to enquiries raised by members of the Investment Committee.
Amendment 709 #
Proposal for a regulation
Article 20 – paragraph 6 a (new)
Article 20 – paragraph 6 a (new)
6a. The InvestEU Advisory Hub shall assist in the transfer of knowledge to the regional and local level, taking into account the existing local landscape, with a view to building up, where necessary, regional and local capacity and expertise as referred in paragraph 1. The InvestEU Advisory Hub may cooperate with national and regional promotional banks or institutions in order to reach its objective.