Progress: Procedure lapsed or withdrawn
Role | Committee | Rapporteur | Shadows |
---|---|---|---|
Joint Responsible Committee | ['BUDG', 'ECON'] | ||
Committee Opinion | CULT | Nikolaos CHOUNTIS ( GUE/NGL), Luigi MORGANO ( S&D), Helga TRÜPEL ( Verts/ALE) | |
Committee Opinion | PECH | ||
Committee Opinion | ENVI | Giorgos GRAMMATIKAKIS ( S&D) | |
Committee Opinion | ITRE | Nikolay BAREKOV ( ECR), Barbara KAPPEL ( ENF), Jeppe KOFOD ( S&D), Gesine MEISSNER ( ALDE), Sofia SAKORAFA ( GUE/NGL) | |
Committee Opinion | TRAN | Gabriele PREUSS ( S&D) | |
Committee Opinion | REGI | ||
Committee Opinion | EMPL |
Lead committee dossier:
Legal Basis:
RoP 58, RoP 59-p4, TFEU 173-p3, TFEU 175-p3
Legal Basis:
RoP 58, RoP 59-p4, TFEU 173-p3, TFEU 175-p3Events
The European Parliament adopted by 463 votes to 64, with 29 abstentions, a legislative resolution on the proposal for a regulation of the European Parliament and of the Council establishing the InvestEU Programme.
Parliament’s position adopted at first reading under the ordinary legislative procedure amended the Commission proposal as follows:
Objectives
The general objective of the InvestEU Programme is to support the policy objectives of the Union by means of financing and investment operations contributing to, inter alia :
- the competitiveness of the Union, including research, innovation and digitisation;
- an increase in the Union employment rate and the creation of high-quality jobs in the Union;
- the growth of the Union economy and its sustainability, enabling the Union to achieve the sustainable development goals and the objectives of the Paris climate agreement;
- the social innovativeness, resilience and inclusiveness of the Union;
- the promotion of scientific and technological advance, of culture, education and training;
- economic, territorial and social cohesion.
Components
The InvestEU Fund shall operate through four policy windows, each aimed at addressing market failures or sub-optimal investment situations within their specific scope:
(1) Sustainable Infrastructure policy window: this component would cover sustainable investment in the areas of (i) transport, including multimodal transport, road safety, renovation and maintenance of road and rail infrastructure, (ii) energy, in particular renewable energy, energy efficiency, building renovation projects focusing on energy savings and the integration of buildings into an energy system, (iii) digital connectivity, including in rural areas, (iv) waste management, (v) cultural heritage, tourism, (vi) the deployment of innovative technologies that contribute to the objectives of environmental resilience to climate change.
(2) Research, innovation and digitisation policy window: this strand would cover research, product development and innovation activities, transfer of technologies and research results to the market, support for market drivers and business cooperation, demonstration, support for the development of innovative enterprises and the digitisation of European industry.
(3) SME policy window: this component would address the availability and accessibility of finance, with priority given to SMEs, including innovative and creative and cultural enterprises, as well as small and medium-sized enterprises.
(4) Social investment and skills policy window: this component would cover microfinance, financing of social enterprises and the social economy and measures to promote gender equality, skills, education, training and related services.
Each action component would be composed of:
- an ‘EU compartment’ which should address market failures or sub-optimal investment situations at EU level or specific to one or more Member States, including those related to the objectives of EU policies;
- a 'Member State' sub-fund which should respond to market failures or sub-optimal investment situations affecting one or more Member States.
Budget
Parliament has proposed that the EU guarantee for the ‘EU compartment’ be EUR 40.8 billion and that it be provisioned at 40% for the period from 2021 to 2027. It should mobilise more than EUR 698 million of additional investment across the Union and should be allocated between the policy windows.
An additional amount of the EU guarantee may also be provided in the form of cash by Member States for the purposes of the Member State compartment. Financing and investment operations shall be screened to determine if they have an environmental, climate or social impact and if so, shall be subject to climate, environmental and social sustainability proofing. Operations that are incompatible with the achievement of climate objectives shall not be eligible for support under the Regulation.
Partnership
The Commission and the EIB Group shall form a partnership to support the implementation and coherence of the programme as well as its inclusiveness, additionality and effective deployment. The terms of the partnership shall be set out in agreements.
Within the framework of the partnership, the EIB Group shall take all necessary measures and precautions to avoid conflicts of interest with other implementing partners, in particular by setting up a dedicated and independent team subject to strict confidentiality rules.
Steering Board
The amended text introduced a steering board composed of four representatives of the Commission, three representatives of the EIB Group and two representatives of other implementing partners than the EIB Group and one expert appointed as a non-voting member by the European Parliament.
The Steering Board shall determine strategic and operational guidelines for the implementing partners, including on the design of financial products and oversee the implementation of the programme. It shall adopt a consensual approach with regard to the debates conducted within it and would decide by a qualified majority of its members with voting rights if there is no possible conciliation between the positions of the members of the steering committee.
The Commission and the Steering Board shall be advised by an Advisory Board.
By 30 September 2024 at the latest, the Commission shall present to the European Parliament and the Council an independent interim evaluation of the InvestEU programme.
The European Parliament adopted by 517 votes to 90, with 25 abstentions, amendments to the proposal for a regulation of the European Parliament and of the Council establishing the InvestEU Programme.
The matter was referred back to the competent committee for interinstitutional negotiations.
The main amendments adopted in plenary concern the following issues:
Objectives
The general objective of the InvestEU Programme is to support the policy objectives of the Union by means of financing and investment operations contributing to, inter alia:
- the competitiveness of the Union, including research, innovation and digitisation;
- an increase in the Union employment rate and the creation of high-quality jobs in the Union;
- the growth of the Union economy and its sustainability, enabling the Union to achieve the sustainable development goals and the objectives of the Paris climate agreement;
- the social innovativeness, resilience and inclusiveness of the Union;
- the promotion of scientific and technological advance, of culture, education and training;
- economic, territorial and social cohesion.
Specific objectives
The InvestEU Programme has the following specific objectives:
- to support financing and investment operations in sustainable infrastructure;
- to support financing and investment operations in research, innovation and digitisation in all policy windows, including support for the upscaling of innovative companies and the bringing of technologies to market;
- to increase and simplify the access to and the availability of finance for, and to enhance the global competitiveness of innovative start-ups, SMEs including micro-enterprises and, in duly justified cases, for small mid-cap companies;
- to increase the access to and the availability of microfinance and finance for SMEs, social enterprises, cultural and creative and education sectors, support financing and investment operations related to social investment, competences and skills and develop and consolidate social investment markets.
The programme shall also aim to (i) support operations for the development of innovative companies and the bringing of technologies to market; (ii) simplify the availability and accessibility of financing for innovative start-ups, small and medium-sized enterprises, including microenterprises; (iii) improve the accessibility of microfinance and financing for SMEs, social enterprises and the cultural, creative and educational sectors.
Each action component would be composed of:
- an ‘EU compartment’ which should address market failures or sub-optimal investment situations at EU level or specific to one or more Member States, including those related to the objectives of EU policies;
- a 'Member State' sub-fund which should respond to market failures or sub-optimal investment situations affecting one or more Member States.
Budget
Members proposed that the EU guarantee for the purposes of the EU compartment shall be EUR 40.8 billion . It shall be provisioned at the rate of 40 % for the period 2021-2027. It is expected to mobilise more than EUR 698 million of additional investment across the Union and should be allocated between the policy windows.
Member States may contribute to the Member State compartment in the form of guarantees or cash.
Implementation of policy windows
Implementing partners shall target that:
- at least 65% of the investment under the sustainable infrastructure policy window significantly contribute to meeting the Union objectives on climate and environment, in line with the Paris Agreement;
- in the area of transport, at least 10 % of investment under the sustainable infrastructure policy window contribute to meeting the EU objective of eliminating fatal road accidents and serious injuries by 2050 and to renovating rail and road bridges and tunnels for the sake of their safety;
- at least 35% of the investment under the research, innovation and digitisation policy window contribute to Horizon Europe Objectives;
- a significant share of the guarantee offered to SMEs and small mid-caps under the SME policy window support innovative SMEs.
The Commission together with implementing partners shall seek to ensure that the part of the budgetary guarantee used for the sustainable investment window is distributed aiming at a balance between the actions in the different areas.
Governance
Parliament proposed a steering board comprising of six members, one of which being an expert appointed by the European Parliament, which would define the strategic direction of the Fund, the operational policies and procedures necessary for the functioning of the Fund and the rules applicable to transactions with investment platforms.
The Commission and the Steering Board shall be advised by an advisory board.
At the request of the European Parliament or of the Council, the Chairperson of the Steering Board shall report on the performance of the InvestEU Fund to the requesting institution, including by participating in a hearing before the European Parliament.
The Commission shall submit a report on the application of this Regulation.
By 30 September 2024, the Commission shall carry out an interim evaluation on the InvestEU Programme, in particular on the use of the EU guarantee.
The Committee on Budgets and the Committee on Economic and Monetary Affairs adopted a joint report by José Manuel FERNANDES (EPP, PT) and Roberto GUALTIERI (S&D, IT) on the proposal for a regulation of the European Parliament and of the Council establishing the InvestEU Programme.
The committee recommended that the European Parliament's position adopted at first reading under the ordinary legislative procedure should amend the Commission's proposal as follows.
Objectives
The general objective of the InvestEU Programme is to support the policy objectives of the Union by means of financing and investment operations contributing to, inter alia :
- the competitiveness of the Union, including research, innovation and digitisation;
- an increase in the Union employment rate and the creation of high-quality jobs in the Union;
- the growth of the Union economy and its sustainability, enabling the Union to achieve the sustainable development goals and the objectives of the Paris climate agreement;
- the social innovativeness, resilience and inclusiveness of the Union;
- the promotion of scientific and technological advance, of culture, education and training;
- economic, territorial and social cohesion.
Specific objectives
The InvestEU Programme has the following specific objectives:
- to support financing and investment operations in sustainable infrastructure;
- to support financing and investment operations in research, innovation and digitisation in all policy windows, including support for the upscaling of innovative companies and the bringing of technologies to market;
- to increase and simplify the access to and the availability of finance for, and to enhance the global competitiveness of innovative start-ups, SMEs including micro-enterprises and, in duly justified cases, for small mid-cap companies;
- to increase the access to and the availability of microfinance and finance for SMEs, social enterprises, cultural and creative and education sectors, support financing and investment operations related to social investment, competences and skills and develop and consolidate social investment markets.
Budget
Members proposed that the EU guarantee for the purposes of the EU compartment shall be EUR 40.8 billion. It shall be provisioned at the rate of 40 %. It is expected to mobilise more than EUR 698 million of additional investment across the Union and should be allocated between the policy windows.
Member States may contribute to the Member State compartment in the form of guarantees or cash.
Steering Board and accountability
Members proposed introducing a steering board to ensure the right balance between policy and banking experience in governing the programme. A European Parliament appointee will also sit on the board.
In order to ensure better accountability to European citizens, the Commission and the Steering Board should report annually to Parliament and Council on the progress, impact and operations of the InvestEU Programme.
The Commission and the Steering Board shall be advised by an advisory board.
At the request of the European Parliament or of the Council, the Chairperson of the Steering Board shall report on the performance of the InvestEU Fund to the requesting institution, including by participating in a hearing before the European Parliament.
The Commission shall submit a report on the application of this Regulation.
By 30 September 2024, the Commission shall carry out an interim evaluation on the InvestEU Programme, in particular on the use of the EU guarantee.
PURPOSE: to establish the InvestEU Fund as a single investment support instrument for Union policies for the period 2021-2027.
PROPOSED ACT: Regulation of the European Parliament and of the Council.
ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council.
BACKGROUND: with 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. While investment conditions in Europe have improved thanks to structural reforms by Member States, a more favourable economic situation and public interventions, notably under the European Strategic Investment Fund (EFSI), investment gaps remain considerable in Europe .
In order to meet the ambitious policy objectives of the Union, attracting private capital to finance investment remains essential while adjusting the approach towards more policy relevance.
Building on lessons learnt from evaluations of predecessor financial instruments and of the EFSI, the Commission proposes to create the InvestEU programme for the multiannual financial framework 2021-2027 in order to consolidate all EU budget financing in the form of loans and guarantees into a single framework .
All evaluations found that the EU Guarantee proved relevant and enabled the EIB to undertake riskier activities and introduce higher risk products to support a wider range of beneficiaries. The EFSI also proved a relevant tool to mobilise private capital .
The EFSI has mobilised EUR 207 billion of investment by end-2017. Mobilised investment from approved operations are expected to reach the EUR 315 billion target by mid-2018 or shortly thereafter.
The new InvestEU programme shall have the capacity to shape an EU strategy to address the persistent investment gaps in the Union in sectors such as in new mobility models, renewable energies, energy efficiency, research and innovation, digitisation, education and skills, social economy and infrastructure, circular economy, natural capital, climate action or small and medium-sized businesses creation and growth.
CONTENT: the proposed Regulation - presented for a Union of 27 Member States - seeks to establish the InvestEU Fund which shall support the policy objectives of the Union by mobilising public and private investment within the EU, hereby addressing market failures and investment gaps that hamper the achievement of EU goals regarding sustainability, competitiveness and inclusive growth.
With the InvestEU programme, a single EU investment support instrument for internal action shall be created for the 2021-2027 MFF.
InvestEU Fund : this fund consists of an EU budget guarantee that will back the financial products provided by the implementing partners. The Commission proposes to allocate EUR 15.2 billion to the InvestEU Fund . The EU budget could thus provide a guarantee of EUR 38 billion to support projects of strategic importance across the EU.
The financing and investment operations to be supported by the EU guarantee under the InvestEU Fund shall contribute to:
the competitiveness of the Union, including innovation and digitisation; the sustainability of the Union economy and its growth; social resilience and inclusion; the integration of Union capital markets and the strengthening of the Single Market, including solutions addressing the fragmentation of the Union capital markets, diversifying sources of financing for Union enterprises and promoting sustainable finance.
The InvestEU Fund has four policy windows : (i) sustainable infrastructure; (ii) research, innovation and digitisation; (iii) SMEs; (iv) social investment and skills.
It is also foreseen that third countries could be associated to financial products under the policy windows of the InvestEU Fund by providing their full participation in cash. Member States wishing to use part of their funds under shared management through the InvestEU Fund may also contribute . These amounts come in addition to the EU guarantee of EUR 38 billion (in current prices).
The European Investment Bank (EIB) Group should remain a privileged implementing partner under the InvestEU Fund's EU compartment. In addition, banks and other national and regional development institutions in Member States with specific experience and expertise may become financial partners, under certain conditions.
Governance : the InvestEU Fund shall have an advisory board , which shall meet in two configurations: (i) representatives of implementing partners; and (ii) representatives of Member States.
In particular, it shall advise the Commission on the design of financial products to be implemented under the InvestEU Fund, market failures and sub-optimal situations. It shall inform Member States about the implementation of the InvestEU Fund and allow regular exchanges of views on market developments and sharing of best practices.
The proposal also introduces:
the InvestEU advisory hub , which shall provide in particular technical assistance for project development; the InvestEU portal , which shall provide an easily accessible database to promote projects seeking funding.
BUDGETARY IMPLICATION: the budgetary framework (commitments in current prices) foreseen for the InvestEU Programme is EUR 14.725 billion, including EUR 525 million for the InvestEU advisory platform, the InvestEU portal and accompanying measures . The overall provisioning will amount to EUR 15.2 billion, of which EUR 1 billion being covered by revenues, repayments and recoveries generated by existing financial instruments and the EFSI.
Documents
- Commission response to text adopted in plenary: SP(2019)440
- Decision by Parliament, 1st reading: T8-0433/2019
- Debate in Parliament: Debate in Parliament
- Results of vote in Parliament: Results of vote in Parliament
- Decision by Parliament, 1st reading: T8-0026/2019
- Debate in Parliament: Debate in Parliament
- Committee report tabled for plenary, 1st reading: A8-0482/2018
- Contribution: COM(2018)0439
- Committee of the Regions: opinion: CDR3766/2018
- Committee opinion: PE627.580
- Committee opinion: PE627.661
- Contribution: COM(2018)0439
- Committee opinion: PE625.320
- Committee opinion: PE627.571
- Committee opinion: PE625.308
- Amendments tabled in committee: PE630.390
- Amendments tabled in committee: PE630.410
- Amendments tabled in committee: PE630.411
- Contribution: COM(2018)0439
- Economic and Social Committee: opinion, report: CES3065/2018
- Committee draft report: PE628.640
- Contribution: COM(2018)0439
- Document attached to the procedure: EUR-Lex
- Document attached to the procedure: SWD(2018)0314
- Document attached to the procedure: EUR-Lex
- Document attached to the procedure: SWD(2018)0316
- Legislative proposal published: COM(2018)0439
- Legislative proposal published: EUR-Lex
- Document attached to the procedure: EUR-Lex SWD(2018)0314
- Document attached to the procedure: EUR-Lex SWD(2018)0316
- Committee draft report: PE628.640
- Economic and Social Committee: opinion, report: CES3065/2018
- Amendments tabled in committee: PE630.390
- Amendments tabled in committee: PE630.410
- Amendments tabled in committee: PE630.411
- Committee opinion: PE625.308
- Committee opinion: PE627.571
- Committee opinion: PE625.320
- Committee opinion: PE627.661
- Committee opinion: PE627.580
- Committee of the Regions: opinion: CDR3766/2018
- Commission response to text adopted in plenary: SP(2019)440
- Contribution: COM(2018)0439
- Contribution: COM(2018)0439
- Contribution: COM(2018)0439
- Contribution: COM(2018)0439
Activities
- Roberto GUALTIERI
Plenary Speeches (3)
- 2016/11/22 InvestEU (debate) IT
- 2016/11/22 Establishing the InvestEU Programme (debate) IT
- 2016/11/22 Establishing the InvestEU Programme (debate) IT
- Paul RÜBIG
Plenary Speeches (3)
- 2016/11/22 InvestEU (debate) DE
- 2016/11/22 InvestEU (debate) DE
- 2016/11/22 Establishing the InvestEU Programme (debate) DE
- Pervenche BERÈS
Plenary Speeches (2)
- 2016/11/22 InvestEU (debate) FR
- 2016/11/22 Establishing the InvestEU Programme (debate) FR
- Antanas GUOGA
Plenary Speeches (2)
- 2016/11/22 InvestEU (debate)
- 2016/11/22 Establishing the InvestEU Programme (debate)
- Ivana MALETIĆ
Plenary Speeches (2)
- 2016/11/22 InvestEU (debate) HR
- 2016/11/22 Establishing the InvestEU Programme (debate) HR
- Notis MARIAS
Plenary Speeches (2)
- 2016/11/22 InvestEU (debate) EL
- 2016/11/22 Establishing the InvestEU Programme (debate) EL
- Ralph PACKET
Plenary Speeches (2)
- 2016/11/22 InvestEU (debate) NL
- 2016/11/22 Establishing the InvestEU Programme (debate) NL
- Jonathan ARNOTT
Plenary Speeches (1)
- 2016/11/22 InvestEU (debate)
- Ivo BELET
Plenary Speeches (1)
- Wim van de CAMP
Plenary Speeches (1)
- David COBURN
Plenary Speeches (1)
- 2016/11/22 Establishing the InvestEU Programme (debate)
- José Inácio FARIA
Plenary Speeches (1)
- Elena GENTILE
Plenary Speeches (1)
- 2016/11/22 InvestEU (debate) IT
- Karine GLOANEC MAURIN
Plenary Speeches (1)
- 2016/11/22 InvestEU (debate) FR
- Barbara KAPPEL
Plenary Speeches (1)
- Jeppe KOFOD
Plenary Speeches (1)
- 2016/11/22 Establishing the InvestEU Programme (debate)
- Bernd KÖLMEL
Plenary Speeches (1)
- Monica MACOVEI
Plenary Speeches (1)
- Lambert van NISTELROOIJ
Plenary Speeches (1)
- 2016/11/22 Establishing the InvestEU Programme (debate)
- Liadh NÍ RIADA
Plenary Speeches (1)
- Dariusz ROSATI
Plenary Speeches (1)
- Dubravka ŠUICA
Plenary Speeches (1)
- Miguel VIEGAS
Plenary Speeches (1)
- Kerstin WESTPHAL
Plenary Speeches (1)
- Lieve WIERINCK
Plenary Speeches (1)
- 2016/11/22 InvestEU (debate) NL
Votes
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 1PC4S #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 29 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 30 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 31 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 32 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 7PC1 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 1PC12 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 7PC2=1PC13=15PC2= #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 7PC3=1PC14=15PC3= #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 7PC4=1PC15=15PC4= #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 7PC5=1PC16=15PC5= #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 8 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 34 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 35 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 36 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 10 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 37 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 38 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 41 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 11 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 13 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 25 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 14 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 3 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Am 28 #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Proposition de la Commission #
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Proposition de la Commission 18/04/2019 12:27:50.000 #
DE | FR | PL | IT | GB | ES | RO | BE | BG | AT | PT | HU | NL | FI | CZ | HR | SE | LV | SK | LU | LT | EE | SI | MT | IE | DK | EL | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total |
78
|
66
|
40
|
42
|
49
|
42
|
23
|
21
|
13
|
15
|
18
|
12
|
25
|
11
|
14
|
9
|
14
|
7
|
9
|
6
|
6
|
5
|
5
|
5
|
6
|
11
|
2
|
|
PPE |
153
|
Germany PPEFor (24)Albert DESS, Andreas SCHWAB, Angelika NIEBLER, Axel VOSS, Daniel CASPARY, David McALLISTER, Dennis RADTKE, Dieter-Lebrecht KOCH, Elmar BROK, Ingeborg GRÄSSLE, Jens GIESEKE, Joachim ZELLER, Michael GAHLER, Monika HOHLMEIER, Norbert LINS, Peter JAHR, Peter LIESE, Rainer WIELAND, Renate SOMMER, Sabine VERHEYEN, Stefan GEHROLD, Sven SCHULZE, Thomas MANN, Werner KUHN
|
France PPEFor (18)Alain CADEC, Alain LAMASSOURE, Angélique DELAHAYE, Anne SANDER, Arnaud DANJEAN, Brice HORTEFEUX, Elisabeth MORIN-CHARTIER, Franck PROUST, Françoise GROSSETÊTE, Geoffroy DIDIER, Jérôme LAVRILLEUX, Marc JOULAUD, Michel DANTIN, Michèle ALLIOT-MARIE, Nadine MORANO, Philippe JUVIN, Rachida DATI, Tokia SAÏFI
|
Poland PPEFor (17)Adam SZEJNFELD, Agnieszka KOZŁOWSKA, Andrzej GRZYB, Barbara KUDRYCKA, Bogdan Andrzej ZDROJEWSKI, Bogusław SONIK, Czesław Adam SIEKIERSKI, Danuta Maria HÜBNER, Elżbieta Katarzyna ŁUKACIJEWSKA, Janusz LEWANDOWSKI, Jerzy BUZEK, Julia PITERA, Krzysztof HETMAN, Marek PLURA, Michał BONI, Róża THUN UND HOHENSTEIN, Tadeusz ZWIEFKA
|
1
|
2
|
Romania PPEFor (9) |
4
|
Bulgaria PPEFor (6) |
5
|
Portugal PPEFor (7) |
6
|
Netherlands PPEFor (5) |
3
|
Czechia PPE |
4
|
2
|
4
|
5
|
3
|
2
|
1
|
3
|
3
|
3
|
1
|
||
S&D |
137
|
Germany S&DFor (22)Arndt KOHN, Arne LIETZ, Babette WINTER, Birgit SIPPEL, Dietmar KÖSTER, Evelyne GEBHARDT, Iris HOFFMANN, Ismail ERTUG, Jens GEIER, Jo LEINEN, Joachim SCHUSTER, Knut FLECKENSTEIN, Martina WERNER, Michael DETJEN, Norbert NEUSER, Peter SIMON, Petra KAMMEREVERT, Susanne MELIOR, Sylvia-Yvonne KAUFMANN, Tiemo WÖLKEN, Udo BULLMANN, Ulrike RODUST
|
3
|
Italy S&DFor (17)Abstain (1) |
United Kingdom S&DFor (18) |
11
|
4
|
3
|
4
|
Portugal S&DFor (7) |
1
|
3
|
2
|
1
|
1
|
4
|
1
|
2
|
1
|
2
|
1
|
1
|
2
|
3
|
||||
ALDE |
58
|
4
|
France ALDEFor (6) |
1
|
1
|
Belgium ALDEFor (6) |
3
|
1
|
1
|
Netherlands ALDEFor (7) |
4
|
4
|
2
|
2
|
1
|
1
|
1
|
2
|
1
|
1
|
2
|
|||||||
Verts/ALE |
46
|
Germany Verts/ALEFor (13) |
France Verts/ALEFor (6) |
1
|
4
|
Spain Verts/ALEAbstain (1) |
2
|
2
|
2
|
1
|
1
|
1
|
3
|
1
|
1
|
1
|
1
|
1
|
||||||||||
ECR |
60
|
Germany ECRAgainst (1) |
Poland ECRFor (15)Against (1) |
2
|
United Kingdom ECRFor (15) |
2
|
4
|
1
|
2
|
1
|
2
|
1
|
2
|
2
|
3
|
1
|
||||||||||||
NI |
10
|
2
|
2
|
2
|
3
|
1
|
||||||||||||||||||||||
EFDD |
28
|
1
|
France EFDDFor (1)Against (2)Abstain (3) |
Italy EFDDFor (10)Abstain (1) |
United Kingdom EFDDAgainst (9) |
1
|
||||||||||||||||||||||
ENF |
28
|
1
|
2
|
Italy ENFAbstain (5) |
1
|
3
|
4
|
|||||||||||||||||||||
GUE/NGL |
34
|
Germany GUE/NGLAgainst (4)Abstain (1) |
France GUE/NGLAgainst (5) |
3
|
1
|
3
|
3
|
1
|
1
|
2
|
1
|
A8-0482/2018 - José Manuel Fernandes et Roberto Gualtieri - Proposition de la Commission #
DE | FR | PL | IT | GB | RO | ES | BE | BG | AT | PT | HU | NL | FI | CZ | HR | SE | LV | SK | LU | LT | EE | SI | MT | IE | DK | ?? | EL | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total |
78
|
67
|
40
|
42
|
48
|
23
|
41
|
21
|
13
|
15
|
18
|
12
|
25
|
11
|
14
|
9
|
13
|
7
|
9
|
6
|
6
|
5
|
5
|
5
|
6
|
11
|
1
|
2
|
|
PPE |
153
|
Germany PPEFor (24)Albert DESS, Andreas SCHWAB, Angelika NIEBLER, Axel VOSS, Daniel CASPARY, David McALLISTER, Dennis RADTKE, Dieter-Lebrecht KOCH, Elmar BROK, Ingeborg GRÄSSLE, Jens GIESEKE, Joachim ZELLER, Michael GAHLER, Monika HOHLMEIER, Norbert LINS, Peter JAHR, Peter LIESE, Rainer WIELAND, Renate SOMMER, Sabine VERHEYEN, Stefan GEHROLD, Sven SCHULZE, Thomas MANN, Werner KUHN
|
France PPEFor (18)Alain CADEC, Alain LAMASSOURE, Angélique DELAHAYE, Anne SANDER, Arnaud DANJEAN, Brice HORTEFEUX, Elisabeth MORIN-CHARTIER, Franck PROUST, Françoise GROSSETÊTE, Geoffroy DIDIER, Jérôme LAVRILLEUX, Marc JOULAUD, Michel DANTIN, Michèle ALLIOT-MARIE, Nadine MORANO, Philippe JUVIN, Rachida DATI, Tokia SAÏFI
|
Poland PPEFor (17)Adam SZEJNFELD, Agnieszka KOZŁOWSKA, Andrzej GRZYB, Barbara KUDRYCKA, Bogdan Andrzej ZDROJEWSKI, Bogusław SONIK, Czesław Adam SIEKIERSKI, Danuta Maria HÜBNER, Elżbieta Katarzyna ŁUKACIJEWSKA, Janusz LEWANDOWSKI, Jerzy BUZEK, Julia PITERA, Krzysztof HETMAN, Marek PLURA, Michał BONI, Róża THUN UND HOHENSTEIN, Tadeusz ZWIEFKA
|
1
|
2
|
Romania PPEFor (9) |
4
|
Bulgaria PPEFor (6) |
5
|
Portugal PPEFor (7) |
6
|
Netherlands PPEFor (5) |
3
|
Czechia PPE |
4
|
2
|
4
|
5
|
3
|
2
|
1
|
3
|
3
|
3
|
1
|
|||
S&D |
138
|
Germany S&DFor (22)Arndt KOHN, Arne LIETZ, Babette WINTER, Birgit SIPPEL, Dietmar KÖSTER, Evelyne GEBHARDT, Iris HOFFMANN, Ismail ERTUG, Jens GEIER, Jo LEINEN, Joachim SCHUSTER, Knut FLECKENSTEIN, Martina WERNER, Michael DETJEN, Norbert NEUSER, Peter SIMON, Petra KAMMEREVERT, Susanne MELIOR, Sylvia-Yvonne KAUFMANN, Tiemo WÖLKEN, Udo BULLMANN, Ulrike RODUST
|
3
|
Italy S&DFor (17)Abstain (1) |
United Kingdom S&DFor (17) |
11
|
4
|
3
|
4
|
Portugal S&DFor (7) |
1
|
3
|
2
|
1
|
1
|
4
|
1
|
2
|
1
|
2
|
1
|
1
|
2
|
3
|
1
|
||||
ALDE |
57
|
4
|
France ALDEFor (6) |
1
|
1
|
Belgium ALDEFor (6) |
3
|
1
|
1
|
Netherlands ALDEFor (7) |
4
|
4
|
2
|
2
|
1
|
1
|
1
|
2
|
1
|
1
|
2
|
||||||||
Verts/ALE |
44
|
Germany Verts/ALEFor (13) |
France Verts/ALEFor (6) |
1
|
4
|
Spain Verts/ALEAbstain (1) |
2
|
2
|
2
|
1
|
1
|
1
|
2
|
1
|
1
|
1
|
1
|
1
|
|||||||||||
ECR |
60
|
Germany ECRAgainst (1) |
Poland ECRFor (15)Against (1) |
2
|
United Kingdom ECRFor (15) |
2
|
4
|
1
|
2
|
1
|
2
|
1
|
2
|
2
|
3
|
1
|
|||||||||||||
NI |
10
|
2
|
2
|
2
|
3
|
1
|
|||||||||||||||||||||||
EFDD |
28
|
1
|
France EFDDFor (1)Against (2)Abstain (3) |
Italy EFDDFor (10)Abstain (1) |
United Kingdom EFDDAgainst (9) |
1
|
|||||||||||||||||||||||
ENF |
29
|
1
|
2
|
Italy ENFAbstain (5) |
1
|
3
|
4
|
||||||||||||||||||||||
GUE/NGL |
34
|
Germany GUE/NGLAgainst (4)Abstain (1) |
France GUE/NGLAgainst (5) |
3
|
1
|
3
|
3
|
1
|
1
|
2
|
1
|
Amendments | Dossier |
1785 |
2018/0229(COD)
2018/09/14
ITRE
453 amendments...
Amendment 100 #
Proposal for a regulation Recital 15 (15) A significant effort is urgently needed to
Amendment 101 #
Proposal for a regulation Recital 15 (15) A significant effort is urgently needed to invest in digital transformation and to distribute the benefits of it to all Union citizens and businesses, in urban and rural areas. The strong policy framework of the Digital Single Market Strategy should now be matched by investment of a similar ambition, including in artificial intelligence.
Amendment 102 #
Proposal for a regulation Recital 15 a (new) (15a) As the single market is negatively impacted by the digital divide, created by lack of network access, uneven speeds between regions and lack of knowledge, the digital transformation of the society should empower citizens, especially the young digital natives, to feel secure to use new technologies, learning about privacy, security and basic safeguards that will protect them from malicious activity and increase their potential for the economy. Therefore a comprehensive approach to increase coverage, achieve similar levels of connectivity and equal knowledge for all is needed.
Amendment 103 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises
Amendment 104 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises
Amendment 105 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) play a crucial role in the Union as the main factor of producing jobs and growth, in a level close to 98% of the overall growth rates of the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs' need to stay competitive by engaging in digitisation, internationalisation and innovation activities and skilling up their workforce. Moreover, compared to larger enterprises, they have access to a more limited set of financing sources: they typically do not issue bonds, have only limited access to stock exchanges or large institutional investors. The lack of access to capital is also weakened by the small private equity industry in Europe. The challenge in accessing finance is even greater for those SMEs whose activities focus on intangible assets. SMEs in the Union rely heavily on banks and debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges and providing more diversified sources of funding is necessary for increasing the ability of SMEs to finance their creation, growth and development, withstand economic downturns, and for making the economy and the financial system more resilient during economic downturn or shocks. This is also complementary to the initiatives already undertaken in the context of the Capital Markets Union. The InvestEU Fund should provide an opportunity to focus on specific, more targeted financial products.
Amendment 106 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs' need to stay competitive by engaging in digitisation, internationalisation and innovation activities and skilling up their workforce. Moreover, compared to larger enterprises, they have access to a more limited set of financing sources: they typically do not issue bonds, have only limited access to stock exchanges or large institutional investors. The challenge in accessing finance is even greater for those SMEs whose activities focus on intangible assets. SMEs in the Union rely heavily on banks and debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges by simplifying their access to finance and providing more diversified sources of funding is necessary for increasing the ability of SMEs to finance their creation, growth and development, withstand economic downturns, and for making the economy and the financial system more resilient during economic downturn or shocks. This is also complementary to the initiatives already undertaken in the context of the Capital Markets Union. Programmes such as COSME and H2020 have been important for SMEs in that they facilitated access to finance in all phases of their lifecycle, and that this was added to by EFSI for which there was a quick SME uptake. The InvestEU Fund should
Amendment 107 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs' need to stay competitive by engaging in digitisation, internationalisation and innovation activities and skilling up their workforce. Moreover, compared to larger enterprises, they have access to a more limited set of financing sources: they typically do not issue bonds, have only limited access to stock exchanges or large institutional investors. The challenge in accessing finance is even greater for those SMEs whose activities focus on intangible assets. SMEs in the Union rely heavily on banks and debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges and providing more diversified sources of funding is necessary for increasing the ability of SMEs to finance their creation, growth and sustainable development, withstand economic downturns, and for
Amendment 108 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs' need to stay competitive by engaging in digitisation, internationalisation and innovation activities and skilling up their workforce. Moreover, compared to larger enterprises, they have access to a more limited set of financing sources: they typically do not issue bonds, have only limited access to stock exchanges or large institutional investors. The challenge in accessing finance is even greater for those SMEs whose activities focus on intangible assets. SMEs in the Union rely heavily on banks and debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges and providing more diversified sources of funding is necessary for increasing the ability of SMEs to finance their creation, growth and development,
Amendment 109 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) and social economy enterprises play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs' need to stay competitive by engaging in digitisation, internationalisation and innovation activities and skilling up their workforce. Moreover, compared to larger enterprises, they have access to a more limited set of financing sources: they typically do not issue bonds, have only limited access to stock exchanges or large institutional investors. The challenge in accessing finance is even greater for those SMEs whose activities focus on intangible assets. SMEs in the Union rely heavily on banks and debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges and providing more diversified sources of funding is necessary for increasing the ability of SMEs to finance
Amendment 110 #
Proposal for a regulation Recital 16 a (new) (16a) Undertakings providing services of general interest play an essential and strategic role in key sectors with large network industries (energy, water, waste, environment, postal services, transport and telecommunications), health, education and social services. The European Union, by supporting these undertakings, safeguards the wellbeing of its citizens and democratic choices, inter alia concerning the quality of services;
Amendment 111 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17 , building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training and health. Investment in the social, skills and human capital- related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level.
Amendment 112 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17, building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training and health. Investment in the social, skills and human capital-related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. The InvestEU Fund should be used to support investment in education and training, help increase employment, in particular among the unskilled and long-term unemployed, and
Amendment 113 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17 , building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training and health. Investment in the social, skills and human
Amendment 114 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16
Amendment 115 #
Proposal for a regulation Recital 17 a (new) (17a) The projects funded under InvestEU should promote equality between women and men, in particular in research and innovation, by addressing the underlying causes of gender imbalance, by exploiting the full potential of both female and male researchers, and by integrating the gender dimension into the research and innovation content; as well as by paying particular attention to ensuring gender balance in evaluation panels and in other relevant advisory and expert bodies. Activities should also aim at implementation of principles relating to equality between women and men as laid down in Articles 2 and 3 of the Treaty on European Union and in Article 8 TFEU and Directive 2006/54/EC on the implementation of the principle of equal opportunities and equal treatment of men and women in matters of employment and occupation.
Amendment 116 #
Proposal for a regulation Recital 18 (18) The InvestEU Fund should operate under four policy windows, mirroring the key Union policy priorities, namely sustainable infrastructure; research,
Amendment 117 #
Proposal for a regulation Recital 18 (18) The InvestEU Fund should operate under f
Amendment 118 #
Proposal for a regulation Recital 18 (18) The InvestEU Fund should operate under four policy windows, mirroring the
Amendment 119 #
Proposal for a regulation Recital 18 (18) The InvestEU Fund should operate under four policy windows, mirroring the key Union policy priorities, namely sustainable infrastructure; research, innovation and digitisation
Amendment 120 #
Proposal for a regulation Recital 18 (18) The InvestEU Fund should operate under
Amendment 121 #
Proposal for a regulation Recital 19 Amendment 122 #
Proposal for a regulation 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. The resources of this fund do not replace the public and private local guarantee activities already operating, and it is necessary to promote the integration of the various support systems so as to achieve the additionality objectives of the interventions.
Amendment 123 #
Proposal for a regulation 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
Amendment 124 #
Proposal for a regulation Recital 19 a (new) (19a) The InvestEU Fund should also support just transition actions and strategies supporting investments addressing the situation of workers in specific sectors like coal/lignite mining, automotive, that could be affected from the transition to a low-carbon economy. The Invest EU fund should be able to support the transformation of those economies towards sustainable activities and attract alternative innovative businesses, start-ups, and industries with the aim of building a sustainable regional economy. Further synergies with additional supporting schemes like the modernisation Fund to be set up for the period 2021-2030 as well as other national and Union ‘s programmes addressing fair transition should also be promoted.
Amendment 125 #
Proposal for a regulation Recital 19 a (new) (19a) That fund should ensure equality in the funding of projects and projects throughout the EU, with a close focus on the poorest and least developed regions.
Amendment 126 #
Proposal for a regulation Recital 20 Amendment 127 #
Proposal for a regulation Recital 20 (20) The Member State compartment should be specifically designed to allow the use of
Amendment 128 #
Proposal for a regulation Recital 21 (21) The InvestEU Fund should be open to contributions from third countries that are members of the European Free Trade Association, acceding countries, candidates and potential candidates, countries covered by the Neighbourhood policy and other countries, in accordance with the conditions laid down between the Union and those countries. Cooperation and support should be provided to decrease dependence on fossil fuels and increase access to affordable renewable energy, as well as to support access to science, technology and innovation in line with the SDGs. This should allow continuing cooperating with the relevant countries, where appropriate, in particular in the fields of research and innovation as well as SMEs.
Amendment 129 #
Proposal for a regulation Recital 21 (21) The InvestEU Fund should be open to contributions from third countries that are members of the European Free Trade Association
Amendment 130 #
Proposal for a regulation Recital 21 (21) The InvestEU Fund should be open to contributions from third countries that are members of the European Free Trade Association, acceding countries, candidates and potential candidates, countries covered by the Neighbourhood policy and other countries, in accordance with the conditions laid down between the Union and those countries, provided that the principles and rights that are enshrined in the European treaties and in the Charter of Fundamental Rights of the European Union are respected. This should allow continuing cooperating with the relevant countries, where appropriate, in particular in the fields of research and innovation as well as SMEs.
Amendment 131 #
Proposal for a regulation Recital 21 (21) The InvestEU Fund should be open to contributions from third countries that are members of the European Free Trade Association, acceding countries, candidates and potential candidates, countries covered by the Neighbourhood policy and other countries, in accordance with the conditions laid down between the Union and those countries.
Amendment 132 #
Proposal for a regulation Recital 23 (23) The EU guarantee of EUR 38 000 000 000 (current prices) at Union level is expected along with EUR 9 500 000 from financial partners to mobilise
Amendment 133 #
Proposal for a regulation Recital 23 (23) The EU guarantee of EUR 38 000 000 000 (current prices) at Union level is expected together with EUR 9 500 000 000 from financial partners to mobilise more than EUR 650 000 000 000 of additional investment across the Union and should be indicatively allocated between the policy windows.
Amendment 134 #
Proposal for a regulation Recital 23 a (new) (23a) The budget of €3.105 million (in constant prices) for Research and Innovation under the Invest EU should not be taken from the Horizon Europe Programme's overall budget of 120 billion (in constant prices), but instead will be additional to that budget.
Amendment 135 #
Proposal for a regulation 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. 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.
Amendment 136 #
Proposal for a regulation Recital 24 a (new) (24a) A Steering Board with an executive role to make decisions according to Article 17 of this Regulation comprised by four members appointed by the European Commission, two experts appointed by the European Parliament, two members of the European Investment Bank Group. All the members comprising the Steering Board are voting members. The Steering Board shall make its decisions with consensus;
Amendment 137 #
Proposal for a regulation Recital 25 (25) An Advisory Board consisting of representatives of the implementing partners and of representatives of Member States along with representatives from relevant Committees of the European Parliament should be established in order to exchange information and for exchanges on the take-up of the financial products deployed under the InvestEU Fund and to discuss on evolving needs and new products, including specific territorial market gaps.
Amendment 138 #
Proposal for a regulation Recital 26 Amendment 139 #
Proposal for a regulation Recital 26 a (new) (26a) A Steering Committee consisting of appointees by the European Commission, the European Investment Bank, the Implementing Partners, and an expert appointed by the European Parliament, should be established in order to ensure the governance of the InvestEu programme has the correct balance between policy and banking expertise.
Amendment 140 #
Proposal for a regulation Recital 26 a (new) (26a) A Steering Committee consisting of appointees by the European Commission, the European Investment Bank, the Implementing Partners, and a non-voting expert appointed by the European Parliament, should be established in order to ensure the governance of the InvestEU programme has the correct balance between policy and banking expertise.
Amendment 141 #
Proposal for a regulation Recital 27 Amendment 142 #
Proposal for a regulation Recital 27 Amendment 143 #
Proposal for a regulation Recital 27 Amendment 144 #
Proposal for a regulation Recital 27 Amendment 145 #
Proposal for a regulation Recital 28 (28) An Investment Committee composed of independent experts should conclude on the granting of the support from the EU guarantee to financing and investment operations fulfilling the eligibility criteria, thereby providing external expertise in investment assessments in relation to projects. The Investment Committee should have different configurations to best cover different policy areas and sectors, but always include also experts from climate, environmental and civil society organisations.
Amendment 146 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart's capacity to fulfil the objectives of the InvestEU Fund and contribute its own resources, in order to ensure adequate geographical coverage and diversification, to avoid disproportionate benefit to larger Member States with more developed capital markets, to crowd-in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the European Investment Bank (‘EIB’) Group should remain a privileged implementing partner under the InvestEU Fund's EU compartment. In addition to the EIB Group, national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the Union.
Amendment 147 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart's capacity to fulfil the objectives of the InvestEU Fund and contribute its own resources, in order to ensure adequate geographical coverage and diversification, to crowd-in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the European Investment Bank (‘EIB’) Group should remain a privileged implementing partner under the InvestEU Fund's EU compartment. In addition to the EIB Group,
Amendment 148 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart's capacity to fulfil the objectives of the InvestEU Fund and contribute its own resources, in order to ensure adequate geographical coverage and diversification, to crowd-in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the European Investment Bank (‘EIB’) Group should remain a privileged implementing partner under the InvestEU Fund's EU compartment. In addition to the EIB Group, national or regional promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the Union. Moreover, it should be possible to have other international financial institutions as implementing partners, in particular when
Amendment 149 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart's
Amendment 150 #
Proposal for a regulation Recital 30 (30) In order to ensure that interventions under the EU compartment of the InvestEU Fund focus on market failures and sub- optimal investment situations at Union level, but, at the same time, satisfy the objectives of best possible geographic outreach, the EU guarantee should be allocated to implementing partners, which alone or together with other implementing partners, can cover at least three Member States. However,
Amendment 151 #
Proposal for a regulation Recital 30 (30) In order to ensure that interventions under the EU compartment of the InvestEU Fund focus on market failures and sub-
Amendment 152 #
Proposal for a regulation Recital 30 (30) In order to ensure that interventions
Amendment 153 #
Proposal for a regulation Recital 30 (30) In order to ensure that interventions under the EU compartment of the InvestEU Fund focus on market failures and sub- optimal investment situations at Union level, but, at the same time, satisfy the objectives of best possible geographic outreach, the EU guarantee should be allocated to implementing partners, which alone or together with other implementing partners, can cover at least t
Amendment 154 #
Proposal for a regulation Recital 31 Amendment 155 #
Proposal for a regulation Recital 31 (31) The EU guarantee under the Member State compartment should be allocated to any implementing partner eligible according to [Article 62(1)(c)] of the [Financial Regulation], including national or regional promotional banks or institutions, the EIB, the European Investment Fund and other multilateral development banks. Where the deployment of the Member state compartment is to target policy actions already addressed by the EU compartment through similar financing and investment operations, the Member State compartment and the EU compartment shall have the same implementing partners. When selecting implementing partners under the Member State compartment, the Commission should take into account the proposals made by each Member State. In accordance with [Article 154] of the [Financial Regulation], the Commission must carry out an assessment of the rules and procedures of the implementing partner to ascertain that they provide a level of protection of the financial interest of the Union equivalent to the one provided by the Commission.
Amendment 156 #
Proposal for a regulation Recital 31 (31) The EU guarantee under the Member State compartment should be allocated to any implementing partner eligible according to [Article 62(1)(c)] of the [Financial Regulation],
Amendment 157 #
Proposal for a regulation Recital 31 (31) The EU guarantee under the Member State compartment should be allocated to any implementing partner eligible according to [Article 62(1)(c)] of the [Financial Regulation], including national or regional promotional banks or institutions, the EIB, the European Investment Fund and other multilateral development banks. When selecting implementing partners under the Member State compartment, the Commission should take into account the proposals made by each Member State. In accordance with [Article 154] of the [Financial Regulation], the Commission must carry out an assessment of the rules and procedures of the implementing partner to ascertain that they provide a level of protection of the financial interest of the Union equivalent to the one provided by the Commission. The evaluation should ensure limited bureaucratic barriers and costs that do not affect the return on investment and influence rates.
Amendment 158 #
Proposal for a regulation Recital 32 (32) Financing and investment operations should ultimately be decided by
Amendment 159 #
Proposal for a regulation Recital 32 (32) Financing and investment operations should ultimately be decided by an implementing partner in its own name, implemented in accordance with its internal rules and procedures
Amendment 160 #
Proposal for a regulation Recital 35 (35) The InvestEU Advisory Hub should support the development of a robust pipeline of investment projects in each policy window providing for effective implementation of geographic diversification with a view to contributing to the Union objective of economic, social, and territorial cohesion and reducing regional disparities. The Advisory Hub should pay particular attention to the necessity of aggregating small projects and bundle them into larger portfolios. In addition, a cross-
Amendment 161 #
Proposal for a regulation Recital 36 (36) In order to ensure a wide geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the InvestEU Fund, a local presence of the InvestEU Advisory Hub should be ensured, where needed, taking into account existing support schemes, with a view to provid
Amendment 162 #
Proposal for a regulation Recital 36 (36) In order to ensure a wide geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the InvestEU Fund, a
Amendment 163 #
Proposal for a regulation Recital 36 (36) In order to ensure a wide geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the InvestEU Fund, a local presence of the InvestEU Advisory Hub should be ensured
Amendment 164 #
Proposal for a regulation Recital 36 (36) In order to ensure a wide geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the InvestEU Fund, a local presence of the InvestEU Advisory Hub should be ensured
Amendment 165 #
Proposal for a regulation Recital 37 a (new) (37a) Given the positive track record of national promotional banks in generating, bundling and financing projects, for example on small scale energy efficiency and renewable energy projects on a local and regional level, their expertise should be pooled into advisory hubs and their role as implementing partners should continue to be valued.
Amendment 166 #
Proposal for a regulation Recital 38 (38) The InvestEU Portal should be established to provide
Amendment 167 #
Proposal for a regulation Recital 47 a (new) (47a) The programme should be accessible to beneficiaries thanks to greater publicity and transparency, including on the part of financial and banking intermediaries. There is therefore a need for more information and constant monitoring of the implementation of the actions.
Amendment 168 #
Proposal for a regulation Article 1 – paragraph 1 This Regulation establishes the InvestEU Fund providing for an EU guarantee for financing and investment operations carried out by the implementing partners in support of the Union’s internal policies, and in particular of the climate change and SDGs goals, in line with the target of a transition to a net-zero GHG emission economy at the latest by 2050.
Amendment 169 #
Proposal for a regulation Article 1 – paragraph 1 This Regulation establishes the InvestEU Fund providing for an EU guarantee for financing and investment operations carried out by
Amendment 170 #
Proposal for a regulation Article 2 – paragraph 1 – point 1 (1)
Amendment 171 #
Proposal for a regulation Article 2 – paragraph 1 – point 1 a (new) (1a) "Efficiency first principle” means the prioritisation, in all energy planning, policy and investment decisions, of measures to make energy demand and energy supply more efficient, by means of cost-optimal energy end-use savings, demand-side response initiatives and more efficient conversion, transmission and distribution of energy, as defined in art. 2 of the Regulation [Governance of the Energy Union].
Amendment 172 #
Proposal for a regulation Article 2 – paragraph 1 – point 1 a (new) (1a) 'blending operations' means operations supported by the Union budget combining selected non-repayable forms of support or repayable support or both from the Union budget with repayable forms of support from development or other public finance institutions, as well as from commercial finance institutions and investors;
Amendment 173 #
Proposal for a regulation Article 2 – paragraph 1 – point 1 b (new) Amendment 174 #
Proposal for a regulation Article 2 – paragraph 1 – point 4 a (new) (4a) ‘investment platforms’ means special purpose vehicles, managed accounts, contract-based co-financing or risk-sharing arrangements or arrangements established by any other means by which entities channel a financial contribution in order to finance a number of investment projects, and which may include: (a) national or sub-national platforms that group together several investment projects on the territory of a given Member State; (b) multi-country or regional platforms that group together partners from several Member States or third countries interested in projects in a given geographic area; (c) thematic platforms that group together investment projects in a given sector;
Amendment 175 #
Proposal for a regulation Article 2 – paragraph 1 – point 7 (7) 'implementing partner' means the eligible counterpart
Amendment 176 #
Proposal for a regulation Article 2 – paragraph 1 – point 12 Amendment 177 #
Proposal for a regulation Article 2 – paragraph 1 – point 12 Amendment 178 #
Proposal for a regulation Article 2 – paragraph 1 – point 15 Amendment 179 #
Proposal for a regulation Article 2 – paragraph 1 – point 15 a (new) (15a) 'start up' means an enterprise that is often tech-enabled, in general combines fast growth, high reliance on innovation of product, processes and financing, utmost attention to new technological developments and extensive use of innovative business models, and, often, collaborative platforms 1a __________________ 1a COM (2016) 733
Amendment 180 #
Proposal for a regulation Article 2 – paragraph 1 – point 17 a (new) (17a) 'EIB' means the European Investment Bank, the European Investment Fund or any subsidiary of the European Investment Bank;
Amendment 181 #
Proposal for a regulation Article 2 – paragraph 1 – point 17 a (new) (17a) 'EIB' means the European Investment Bank, the European Investment Fund or any subsidiary of the European Investment Bank;
Amendment 182 #
Proposal for a regulation Article 3 – paragraph 1 – point a (a) the competitiveness of the Union, including research, innovation and digitisation;
Amendment 183 #
Proposal for a regulation Article 3 – paragraph 1 – point a (a)
Amendment 184 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) the
Amendment 185 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) the sustainab
Amendment 186 #
Proposal for a regulation Article 3 – paragraph 1 – point d (d)
Amendment 187 #
Proposal for a regulation Article 3 – paragraph 1 – point d a (new) (da) contribute to achieving the climate objectives, as well as delivering long-term environmental and societal benefits.
Amendment 188 #
Proposal for a regulation Article 3 – paragraph 2 – point a (a) to support financing and investment operations in sustainable infrastructure and building renovation in the areas referred to in points (a) and (aa) of Article 7(1);
Amendment 189 #
Proposal for a regulation Article 3 – paragraph 2 – point b (b) to support financing and investment operations in research, innovation and digitisation, including support for the upscaling of innovative companies and bringing technologies to market;
Amendment 190 #
Proposal for a regulation Article 3 – paragraph 2 – point b (b) to support financing and investment operations in
Amendment 191 #
Proposal for a regulation Article 3 – paragraph 2 – point b (b) to support financing and investment operations in research, innovation and digitisation in all policy windows;
Amendment 192 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) to increase the access to and the availability of finance for SMEs and, in duly justified cases, by adopting specific reference criteria, for small mid-cap companies;
Amendment 193 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) to increase the access to and the availability of finance for SMEs and, in duly justified cases, for small mid-cap companies, including innovative ones;
Amendment 194 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) to increase the access to and the availability of finance for SMEs
Amendment 195 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) to increase the access to and the availability of finance for SMEs
Amendment 196 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) to increase and simplify the access to and the availability of finance for SMEs and, in duly justified cases, for small mid- cap companies;
Amendment 197 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) to increase the access to and the availability of finance for
Amendment 198 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) to increase the access to and the availability of finance for
Amendment 199 #
Proposal for a regulation Article 3 – paragraph 2 – point d a (new) (da) to contribute to an overall target of at least 30% of the EU budget expenditures that must support climate objectives and to allocate to that end at least 40% of the overall financial envelope of the EUInvest Programme to support investments that will directly help to deliver on the EU’s commitments in the Paris Agreement, the EU's 2030 climate and energy targets monitored by Regulation EU (XX) [Governance of the Energy Union] and a net-zero greenhouse gas emissions economy by 2050.
Amendment 200 #
Proposal for a regulation Article 3 – paragraph 2 – point d a (new) (da) to increase investment in climate mitigation and adaptation and to make sure that the InvestEU Fund is contributing at least 60% to climate objectives.
Amendment 201 #
Proposal for a regulation Article 3 – paragraph 2 – point d a (new) (da) to increase investment in climate mitigation and adaptation by contributing at least 40% of its overall financial envelope to climate objectives.
Amendment 202 #
Proposal for a regulation Article 3 – paragraph 2 – point d b (new) (db) to increase investment in climate mitigation and adaptation by contributing at least 40% of its overall financial envelope to climate objectives.
Amendment 203 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 1 The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR 38 000 000 000 (current prices)
Amendment 204 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 1 The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR 38 000 000 000 (current prices). It shall be provisioned at the rate of 40 %. The Commission may decide to select a financial institution that has a broad coverage across the Union and knowledge of EU policies.
Amendment 205 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 1 The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR 38 000 000 000 (current prices), of which at least EUR 28 500 000 000 shall be allocated to the EIB. It shall be provisioned at the rate of 40 %.
Amendment 206 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 1 The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR 38 000 000 000 (c
Amendment 207 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 2 An additional amount of the EU guarantee may be provided for the purposes of the Member State compartment referred to in point (b) of Article 8(1)
Amendment 208 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 2 a (new) The projects to be financed with the additional amount shall be dedicated exclusively for actions that are eligible under the eligibility criteria set up in the rules of the Union programme under which the amount has been transferred .
Amendment 209 #
Proposal for a regulation Article 4 – paragraph 2 2. The indicative distribution of the amount referred to in the first subparagraph of paragraph 1 is set out in Annex I to this Regulation. The Commission may modify the amounts referred to in that Annex I, where appropriate, by up to
Amendment 210 #
Proposal for a regulation Article 4 – paragraph 2 2. The
Amendment 211 #
Proposal for a regulation Article 4 – paragraph 3 3. The financial envelope for the implementation of the measures provided in Chapters V
Amendment 212 #
Proposal for a regulation Article 4 – paragraph 4 4. The amount referred to in paragraph 3 may also be used for technical and administrative assistance for the implementation of the InvestEU Programme, such as preparatory, monitoring, control, audit and evaluation activities including corporate information technology systems. The purpose of these activities shall be to reduce bureaucratic and economic burden for beneficiaries.
Amendment 213 #
Proposal for a regulation Article 4 – paragraph 4 4. The amount referred to in paragraph 3 may also be used for technical and administrative assistance for the implementation of the InvestEU Programme, such as preparatory, monitoring, control, audit and evaluation activities including corporate information technology systems, but may not exceed 5% of the value of the financial envelope defined in paragraph 1.
Amendment 214 #
Proposal for a regulation Article 5 – paragraph 1 – point b Amendment 215 #
Proposal for a regulation Article 5 – paragraph 1 – point c Amendment 216 #
Proposal for a regulation Article 6 – paragraph 2 – point a (a) be consistent with the policy objectives and comply with the eligibility criteria set out in the rule on the Union programme under which the support is decided; not a single financing or investment operation covered by the EU guarantee may undermine or go against the implementation of the SDGs, the EU’s commitments in the Paris Agreement, the EU's 2030 climate and energy objectives and the achievement of a net-zero greenhouse gas emissions economy by 2050;
Amendment 217 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy
Amendment 218 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy
Amendment 219 #
(a) sustainable infrastructure policy window: comprises sustainable investment in the areas of
Amendment 220 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport,
Amendment 221 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, digital connectivity, supply and processing of raw materials, space, oceans
Amendment 222 #
Proposal for a regulation Article 7 – paragraph 1 – point a a (new) (aa) building renovation window: comprises finance of individual or aggregated refurbishment of buildings projects, investment platforms, pre- financing schemes with on-bill or on-tax repayment contributing to the renovation of buildings focused on energy savings, the deployment of decentralised renewable energy and the integration of buildings into a connected energy, storage, digital and transport system.
Amendment 223 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation and digitisation policy window: comprises research, product development and innovation activities, transfer of technologies and research results to the market, supporting market enablers and cooperation between enterprises, including regulatory systems demonstration and deployment of innovative solutions and support to scaling up of innovative companies other than SMEs on the net-zero carbon economy, resilience and adaptation to climate change, on the circular economy, as well as digitisation of Union industry
Amendment 224 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration, and deployment and adaption of innovative solutions and support to scaling up of innovative companies
Amendment 225 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative
Amendment 226 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative companies
Amendment 227 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative companies
Amendment 228 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) SMEs policy window: access to and availability of finance for SMEs and
Amendment 229 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) SMEs policy window: access to and availability of finance for SMEs
Amendment 230 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) SMEs policy window: access to and availability of finance for SMEs and, in duly justified cases,
Amendment 231 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) SMEs policy window: simplified access to and availability of finance for SMEs and, in duly justified cases, for small mid-cap companies;
Amendment 232 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) SMEs policy window: access to and availability of finance for SMEs, including innovative ones, and, in duly justified cases, for small mid-cap companies;
Amendment 233 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) SMEs policy window: access to and availability of finance for
Amendment 234 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training, including management training for SMEs and for worker buyouts, and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities with a social goal; integration of vulnerable people, including third country nationals.
Amendment 235 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training and related services;
Amendment 236 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance, female entrepreneurship and social economy; skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities with a social goal; integration of vulnerable people, including third country nationals.
Amendment 237 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training and related services, including student loans; social infrastructure (including social and student housing); social innovation; health and long-term care;
Amendment 238 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities in particular with a social goal; integration of vulnerable people, including third country nationals.
Amendment 239 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural
Amendment 240 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities in particular with a social goal; integration of vulnerable people, including third country nationals.
Amendment 241 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations under the sustainable infrastructure policy window 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
Amendment 242 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations
Amendment 243 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations under
Amendment 244 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations under the sustainable infrastructure policy window 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 and avoiding any operations involving intensive fossil fuel infrastructures. Projects below a certain size defined in the guidance shall be excluded from the proofing.
Amendment 245 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point b a (new) (ba) demonstrate the consistency of the project with the EU and Member States’ climate and energy objectives and trajectories as monitored by Regulation EU (XX) [Governance of the Energy Union] and with the aim to achieve a net- zero greenhouse gas emissions economy by 2050.
Amendment 246 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point c Amendment 247 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point c a (new) (ca) demonstrate the contribution of the project in terms of climate and energy objectives, including the transition to a net-zero GHG emission economy at the latest by 2050;
Amendment 248 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point c a (new) (ca) demonstrate the expected benefits and contribution of the project in terms of Climate and Energy objectives;
Amendment 249 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 a (new) estimate the impact on employment and job creation;
Amendment 250 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 b (new) contribution to the Sustainable Development Goals.
Amendment 251 #
Proposal for a regulation Article 7 – paragraph 4 4. Implementing partners shall provide the information necessary to allow the tracking of investment that contributes to meeting the Union objectives on climate and environment, based on guidance to be provided by the Commission
Amendment 252 #
Proposal for a regulation Article 7 – paragraph 4 4. Implementing partners shall provide the information necessary to allow the tracking of investment that contributes to meeting
Amendment 253 #
Proposal for a regulation Article 7 – paragraph 4 a (new) 4a. The SMEs policy window shall further develop the different EU guarantee facilities merged under InvestEU, in particular the Cultural and Creative Sectors Guarantee Facility from the Creative Europe Programme.
Amendment 254 #
Proposal for a regulation Article 7 – paragraph 5 5. In order to ensure synergies with other Union Programmes, implementing partners shall target that
Amendment 255 #
Proposal for a regulation Article 7 – paragraph 5 5. Implementing partners shall
Amendment 256 #
Proposal for a regulation Article 7 – paragraph 5 5. Implementing partners shall
Amendment 257 #
Proposal for a regulation Article 7 – paragraph 5 5. Implementing partners shall target that a
Amendment 258 #
Proposal for a regulation Article 8 Amendment 259 #
Proposal for a regulation Article 8 – paragraph 1 – point b (b) the Member State compartment shall address specific market failures or sub-optimal investment situations in one or several Member States
Amendment 260 #
Proposal for a regulation Article 8 – paragraph 2 2. The compartments referred to in paragraph 1 may be used in a complementary manner to support a financing or investment operation, including by combining support from both compartments. Furthermore, the compartments should not duplicate private financing in order not to distort competition on the internal market.
Amendment 261 #
Proposal for a regulation Article 8 a (new) Article 8a Additionality 1. For the purposes of this Regulation, ‘additionality’ means the support by the InvestEU Fund of operations which address market failures or sub-optimal investment situations and which could not have been carried out during the period in which the EU guarantee can be used, or not to the same extent, by implementing partners without InvestEU Fund support. Projects supported by the InvestEU Fund shall support the objectives laid down in Article 3, shall strive to create employment and sustainable growth. 2. Without prejudice to the requirement to meet the definition of additionality as set out in the first subparagraph, the following elements are strong indications of additionality: — projects proposed that carry a risk corresponding to EIB special activities, as defined in Article 16 of the EIB Statute, or an equivalent level of risk, especially if such projects present country-, sector- or region-specific risks, in particular those experienced in less developed regions and transition regions and/or if such projects present risks associated with innovation, in particular in growth-, sustainability- and productivity-enhancing unproven technologies; — projects proposed by implementing partners considered by the Investment Committee to carry a level of risk equivalent to that described in the first indent of this subparagraph.
Amendment 262 #
Proposal for a regulation Article 8 a (new) Article 8a Additionality For the purposes of this Regulation, ‘additionality’ means the support by the InvestEU Fund of operations which address market failures or sub-optimal investment situations, such as long-term return on investments or higher risk financing needs for projects delivering longer-term environment and societal benefits, and which could not have been carried out during the period in which the EU guarantee can be used, or not to the same extent, by implementing partners without InvestEU Fund support. Projects supported by the InvestEU Fund shall support the objectives laid down in Article 3, shall strive to create long-term employment, public infrastructure, sustainable growth and contribute to achieving the climate objectives of the EU.
Amendment 263 #
Proposal for a regulation Article 8 a (new) Article 8a Additionality For the purposes of this Regulation, 'additionality' means the support by the InvestEu fund to projects and operations which address market failures or sub- optimal investment situations and that could not have been carried out during the period in which the EU guarantee can be used, or not to the same extent, by the EIB or by implementing partners without the InvestEu Fund. Projects supported by the InvestEu Fund shall support the objectives laid down in Article 3 and shall strive to create good-quality employment and sustainable growth.
Amendment 265 #
Proposal for a regulation Article 9 – paragraph 1 Amendment 266 #
Proposal for a regulation Article 9 – paragraph 1 1. In line with Article 21 of Regulation (EU) [ CPRs]m Member States or regions, as applicable and on a voluntary basis, may request the transfer of parts of their allocations to InvestEU. Transferred resources shall be implemented in accordance with the rules of InvestEu. Amounts allocated by a Member State under Article [10(1)] of Regulation [[CPR] number] or Article [75(1)] of Regulation [[CAP plan] number] or, where applicable, by a region, shall be used for the provisioning of the part of the EU guarantee under the Member State compartment covering financing and investment operations in the Member State
Amendment 267 #
Proposal for a regulation Article 9 – paragraph 1 1. In line with Article21 of Regulation (EU) XX [... Common Provisions Regulation], Member States or regions, as applicable and on a voluntary basis, may request the transfer of parts of their financial allocations to InvestEU. Transferred resources shall be implemented in accordance with the rules of InvestEU. Amounts allocated by a Member State under Article
Amendment 268 #
Proposal for a regulation Article 9 – paragraph 2 – subparagraph 1 The establishment of that part of the EU guarantee under the Member State compartment shall be subject to the conclusion of a contribution agreement between the Member State or the region, through the Member State, and the Commission.
Amendment 269 #
Proposal for a regulation Article 9 – paragraph 2 – subparagraph 2 Amendment 270 #
Proposal for a regulation Article 9 – paragraph 3 – point a (a) the overall amount of the part of the EU guarantee under the Member State compartment pertaining to the Member State or region, its provisioning rate, the amount of the contribution from Funds under shared management, the constitution phase of the provisioning in accordance with an annual financial plan and the amount of the resulting contingent liability to be covered by a back-to-back guarantee provided by the Member State or region concerned;
Amendment 271 #
Proposal for a regulation Article 9 – paragraph 3 – point a (a) the overall amount of the part of the EU guarantee under the Member State compartment pertaining to the Member State or region, its provisioning rate, the amount of the contribution from Funds under shared management, the constitution phase of the provisioning in accordance with an annual financial plan and the amount of the resulting contingent liability to be covered by a back-to-back guarantee provided by the Member State or region concerned;
Amendment 272 #
Proposal for a regulation Article 9 – paragraph 3 – point a (a) the overall amount of the part of the EU guarantee under the Member State compartment pertaining to the Member State, its provisioning rate, the amount of the contribution from
Amendment 273 #
Proposal for a regulation Article 9 – paragraph 3 – point c (c) the implementing partner or partners which have expressed their interest and the obligation of the Commission to inform the Member State and, if applicable, the regional authority, about the implementing partner or partners selected;
Amendment 274 #
Proposal for a regulation Article 9 – paragraph 3 – point c (c) the implementing partner or partners which have expressed their interest and the obligation of the Commission to inform the Member State and, where applicable, the region, about the implementing partner or partners selected;
Amendment 275 #
Proposal for a regulation Article 9 – paragraph 3 – point d (d) the possible contribution from
Amendment 276 #
Proposal for a regulation Article 9 – paragraph 3 – point e (e) the annual reporting obligations towards the Member State or region if applicable, including reporting in accordance with the indicators referred to in the contribution agreement;
Amendment 277 #
Proposal for a regulation Article 9 – paragraph 3 – point e (e) the annual reporting obligations towards the Member State or region where applicable, including reporting in accordance with the indicators referred to in the contribution agreement;
Amendment 278 #
Proposal for a regulation Article 9 – paragraph 4 – subparagraph 2 Where, within nine months from the signature of the contribution agreement, no guarantee agreement has been concluded or the amount of a contribution agreement is not fully committed through one or more guarantee agreements, the contribution agreement shall be terminated in the first case or amended accordingly in the second case and the unused amount of provisioning re-used
Amendment 279 #
Proposal for a regulation Article 9 – paragraph 4 – subparagraph 3 Amendment 280 #
(a) after the constitution phase referred to in point (a) of paragraph 3 of this Article, any annual surplus of provisions, calculated by comparing the amount of provisions required by the provisioning rate and the actual provisions, shall be re- used
Amendment 281 #
Proposal for a regulation Article 9 – paragraph 5 – point c (c) the Commission shall immediately inform the Member State, or region if applicable, where, as a result of calls on that part of the EU guarantee under the Member State compartment, the level of provisions for that part of the EU guarantee falls below 20 % of the initial provisioning;
Amendment 282 #
Proposal for a regulation Article 9 – paragraph 5 – point c (c) the Commission shall immediately inform the Member State, or region where applicable, where, as a result of calls on that part of the EU guarantee under the Member State compartment, the
Amendment 283 #
Proposal for a regulation Article 9 – paragraph 5 – point d (d) if the level of provisions for that part of the EU guarantee under the Member State compartment reaches 10 % of the initial provisioning, the Member State or region concerned shall provide to the common provisioning fund up to 5 % of the initial provisioning upon request by the Commission.
Amendment 284 #
Proposal for a regulation Article 9 – paragraph 5 – point d (d) if the level of provisions for that part of the EU guarantee under the Member State compartment reaches 10 % of the initial provisioning, the Member State or region concerned shall provide to the common provisioning fund up to 5 % of the initial provisioning upon request by the Commission
Amendment 285 #
Proposal for a regulation Article 10 – paragraph 2 2. Support of the EU guarantee may be granted for financing and investment operations covered by this Regulation for an investment period ending on 31 December 2027. Contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in Article 13(1)(a) shall be signed by 31 December 2028. For avoidance of doubt, such dates shall not apply for operations conducted between financial intermediaries and final recipients.
Amendment 286 #
Proposal for a regulation Article 10 – paragraph 2 2. Support of the EU guarantee may be granted for financing and investment operations covered by this Regulation for an investment period ending on 31 December 2027. This support must entail higher provisioning rates for SMEs which show that they are facing objective difficulties in gaining access to credit. Contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in Article 13(1)(a) shall be signed by 31 December 2028.
Amendment 287 #
Proposal for a regulation Article 10 – paragraph 2 2. Support of the EU guarantee may be granted for financing and investment operations covered by this Regulation for an investment period ending on 31 December 2027. Contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in Article 13(1)(a) shall be signed by 31 December 2028. For avoidance of doubt, such dates shall not apply for operations conducted between financial intermediaries and final recipients.
Amendment 288 #
Proposal for a regulation Article 10 – paragraph 2 a (new) 2a. When the implementing partner calls on the EU guarantee in accordance with a guarantee agreement or the InvestEU agreement, the Union shall pay on demand in accordance with the terms of that agreement;
Amendment 289 #
Proposal for a regulation Article 10 – paragraph 2 a (new) 2a. Where an implementing partner calls on the EU guarantee in accordance with a guarantee agreement or the InvestEU Agreement, the Union shall pay on demand in accordance with the terms of that agreement.
Amendment 290 #
Proposal for a regulation 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 t
Amendment 291 #
(a) comply with the conditions set out in [points
Amendment 292 #
Proposal for a regulation Article 11 – paragraph 1 – point a (a) comply with the conditions set out in [points (a) to (e) of Article 209(2)] of [the Financial Regulation], in particular with the additionality requirement set out in [point (b) of Article 209(2)] of [the Financial Regulation] and contribute to social, climate and environmental policy objectives of the European Union, where appropriate, maximising private investment in accordance with [point (d) of Article 209(2)] of the [Financial Regulation];
Amendment 293 #
Proposal for a regulation Article 11 – paragraph 1 – point b (b) contribute, complement and are consistent to the Union policy objectives and fall under the scope of the areas eligible for financing and investment operations under the appropriate window in accordance with Annex II to this Regulation; and
Amendment 294 #
Proposal for a regulation Article 11 – paragraph 1 – point c (c) are econ
Amendment 295 #
Proposal for a regulation Article 11 – paragraph 1 – point c a (new) (ca) are technically viable and are sustainable from an environmental and social point of view, in accordance with Annex III to this Regulation.
Amendment 296 #
Proposal for a regulation Article 11 – paragraph 1 a (new) 1a. The InvestEU Fund shall not support activities related to production, processing, distribution, storage or combustion of fossil fuels, with the exception of investment related to clean vehicles as defined in Article 4 of Directive 2009/33/EC of the European Parliament and of the Council.
Amendment 297 #
Proposal for a regulation Article 11 – paragraph 1 a (new) 1a. The Invest EU Fund shall not support activities related to production, processing, distribution, storage or combustion of fossil fuels or CO2 transport infrastructure.
Amendment 298 #
Proposal for a regulation Article 11 – paragraph 1 a (new) 1a. The InvestEU Fund shall not support activities related to production, processing, distribution, storage or combustion of fossil fuels.
Amendment 299 #
Proposal for a regulation Article 11 – paragraph 3 – point c (c) a third country referred to in point (a) of paragraph 2, where applicable, provided that the principles and rights that are enshrined in the European treaties and in the Charter of Fundamental Rights of the European Union are respected by that country;
Amendment 300 #
Proposal for a regulation Article 11 – paragraph 3 – point d Amendment 301 #
Proposal for a regulation 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 three Member States. The implementing partners may also cover together financing and investment operations in at least three Member States by forming a group. This criteria is also fulfilled when the implementing partners identify a common market failure in their respective markets and address this market failure or suboptimal investment situation with locally adapted, but similar instruments.
Amendment 302 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 2 For the EU compartment, the eligible counterparts shall have expressed their interest
Amendment 303 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 2 Amendment 304 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 3 Amendment 305 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 4 a (new) Where the deployment of the Member State compartment is to target policy actions already addressed by the EU compartment through similar financing and investment operations, the Member state compartment and the EU compartment shall have the same implementing partners.
Amendment 306 #
Proposal for a regulation Article 12 – paragraph 1 a (new) 1a. Where the deployment of the Member State compartment is to target policy actions already addressed by the EU compartment through similar financing and investment operations, the Member State compartment and the EU compartment shall have the same implementing partners.
Amendment 307 #
(ca) permits the involvement of the commercial and local banking system;
Amendment 308 #
Proposal for a regulation Article 12 – paragraph 2 – point d (d) achieves geographical diversification by Member State and by region;
Amendment 309 #
Proposal for a regulation Article 12 – paragraph 2 – point e (e) provides sufficient risk diversification, provided that excessive- financial-risk operations should be avoided;
Amendment 310 #
(fa) Achieves additionality as laid out in Article 8a (new);
Amendment 311 #
Proposal for a regulation Article 12 – paragraph 2 – point f a (new) (fa) Achieves additionality as laid out in Article 8a(new);
Amendment 312 #
Proposal for a regulation Article 12 – paragraph 3 a (new) 3a. performance indicators which will help to assess the specialisation of the services of potential partners, either directly or by means of guarantee agreements with other legal persons, in relation to undertakings, particularly SMEs;
Amendment 313 #
Proposal for a regulation Article 12 – paragraph 4 4.
Amendment 314 #
Proposal for a regulation Article 14 – paragraph 1 a (new) 1a. National Promotional Banks and Institutions are also financial institutions with the corresponding rules and procedures. It must be ensured that the requirements of [Article 154] of the [Financial Regulation] are proportionate to their size and/or geographical scope. Existing data, supervisory processes and State aid should be taken into account.
Amendment 315 #
Proposal for a regulation Article 14 – paragraph 2 – point d (d) the remuneration for risk-taking
Amendment 316 #
Proposal for a regulation Article 14 – paragraph 2 – point d (d) the remuneration for risk-taking
Amendment 317 #
Proposal for a regulation Article 14 – paragraph 5 Amendment 318 #
Proposal for a regulation Article 16 – paragraph 1 1. The remuneration agreed for risk- taking shall be a
Amendment 319 #
Proposal for a regulation Article 16 – paragraph 1 1. The remuneration for risk-taking shall be a
Amendment 320 #
Proposal for a regulation Article 17 – paragraph 1 1. The Commission shall be advised by an advisory board which shall have two configurations, namely representatives of implementing partners and representatives of Member States. Both configuration shall strive to ensure gender balance among their Members.
Amendment 321 #
Proposal for a regulation Article 17 – paragraph 1 1. The Commission shall be advised by an advisory board which shall have two configurations, namely representatives of implementing partners
Amendment 322 #
Proposal for a regulation Article 17 – paragraph 1 1. The
Amendment 323 #
Proposal for a regulation Article 17 – paragraph 1 1. The
Amendment 324 #
Proposal for a regulation Article 17 – paragraph 2 a (new) 2a. Members of the European Parliament appointed by the related Committees shall have a tenure of two and a half year.
Amendment 325 #
Proposal for a regulation Article 17 – paragraph 5 – point a – point ii (ii) provide advice to the
Amendment 326 #
Proposal for a regulation Article 17 – paragraph 5 – point a – point ii (ii) provide advice to the
Amendment 327 #
Amendment 328 #
Proposal for a regulation Article 17 a (new) Amendment 329 #
Proposal for a regulation Article 17 a (new) Article 17a Steering Board The Steering Board is comprised by eight (8) members: four appointed by the European Commission, two experts appointed by the Members of the European Parliament and two members appointed by the European Investment Bank. All the members of the Steering Board have voting rights. The decisions of the Steering Board should be taken with consensus and according to the provisions of this Regulation. The minutes of the Steering Board shall be published as they have been approved by the Steering Board The Steering Board shall regularly organize a consultation of relevant stakeholders, including co-investors, public authorities, experts, educational and research institutions, social partners and representatives of the civil society, on the orientation and implementation of the investment policy of the InvestEU.
Amendment 330 #
Proposal for a regulation Article 18 Amendment 331 #
Proposal for a regulation Article 18 Amendment 332 #
Proposal for a regulation Article 18 Amendment 333 #
Proposal for a regulation Article 18 – paragraph 4 a (new) 4a. The Decision of the United Kingdom to withdraw from the Union under Article 50 of the TEU on 29 March 2019 poses a significant challenge to the Union economy with substantial trade in goods and services between the UK and the EU27. With potential consequences for GDP in the EU27 as a result of the withdrawal, the InvestEU fund should aim to dedicate at least 65% of its budget to assist micro, small and medium enterprises.
Amendment 334 #
Proposal for a regulation Article 19 – paragraph 1 – introductory part 1. An independent Investment Committee shall be established. It shall
Amendment 335 #
Proposal for a regulation Article 19 – paragraph 1 – introductory part 1. An independent Investment Committee shall be established. It shall
Amendment 336 #
Proposal for a regulation Article 19 – paragraph 1 – point b (b) verify their compliance with this Regulation and the relevant investment guidelines, giving particular attention to
Amendment 337 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 2 Each configuration of the Investment Committee shall be composed of s
Amendment 338 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 2 Each configuration of the Investment Committee shall be composed of s
Amendment 339 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 5 Four members shall be permanent members of all four configurations of the Investment Committee. In addition, the four configurations shall each have two experts with experience in investment in sectors covered by that policy window. At least one of the permanent members shall have expertise in
Amendment 340 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 5 F
Amendment 341 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 5 F
Amendment 342 #
Proposal for a regulation Article 19 – paragraph 3 – subparagraph 2 CVs and declarations of interest of each member of the Investment Committee shall be made public and constantly updated. Each member of the Investment Committee shall communicate without delay to the Commission and the Steering Committee all information needed to check on an ongoing basis the absence of any conflict of interest.
Amendment 343 #
Proposal for a regulation Article 19 – paragraph 3 – subparagraph 2 CVs and declarations of interest of each member of the Investment Committee shall be made public and constantly updated. Each member of the Investment Committee shall communicate without delay to the Commission and the Steering Committee all information needed to check on an ongoing basis the absence of any conflict of interest.
Amendment 344 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 1 Conclusions of the Investment Committee shall be adopted by
Amendment 345 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 2 Conclusions of the Investment Committee approving the support of the EU guarantee to a financing or investment operation shall be publicly accessible and shall include the rationale for the approval
Amendment 346 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 3 Amendment 347 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 3 The scoreboard shall be publicly available after the signature of a financing or investment operation or sub-project, if applicable. The publication shall not contain commercially sensitive information or personal data not to be disclosed under the Union data protection rules. A rate of the projects rejected over the projects accepted per Member State should be included annually. A justification of acceptance or rejection should be provided for every project.
Amendment 348 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 4 Twice a year, the conclusions
Amendment 349 #
Proposal for a regulation Article 19 – paragraph 6 a (new) 6a. The workings of the Investment Committees shall start only after full appointment of their members and without interim contract. For example, if the call of tender for the members of the Investment Committees is for three years, the contract signed by the members of the Investment Committee should not be shorter than three years.
Amendment 350 #
Proposal for a regulation Chapter 4 a (new) All bodies participating in the decision- making and selection of projects shall act according to the principles of transparency, accountability and guaranteed stakeholder participation, including from civil society organisations. They should be composed of independent experts from various technical backgrounds, including climate experts, and aim for gender balance. Information on projects, selection procedure and decision-making shall be published, while respecting commercially sensitive information. (This amendment shall serve as introduction to the chapter and apply thus to Articles 17-19. It shall appear before Article 17 in the text.)
Amendment 351 #
Proposal for a regulation Article 20 – paragraph 1 – subparagraph 1 The InvestEU Advisory Hub shall provide advisory support for the identification, preparation, development, structuring, procuring and implementation of investment projects, or enhance the capacity of promoters and financial intermediaries to implement financing and investment operations. Its support may cover any stage of the life-cycle of a project or financing of a supported entity, as appropriate. Experts in the Advisory Hub will work in close cooperation with the EIB InnovFin Advisory.
Amendment 352 #
Proposal for a regulation Article 20 – paragraph 1 – subparagraph 1 a (new) The InvestEU Advisory Hub shall provide advisory support at regional and local level to promote projects with a climate, environmental and social impact and in line with the ‘Energy Efficiency First’ principle. Such support should also include a communication and a project development assistance component to continue building more capacity to develop sustainable projects and to aggregate smaller projects into larger ones.
Amendment 353 #
Proposal for a regulation Article 20 – paragraph 1 – subparagraph 2 The InvestEU Advisory Hub shall be available as a component under each policy window referred to in Article 7(1) covering all the sectors under that window, in particular for those contributing to EU climate objectives. In addition, cross- sectoral advisory services shall be available.
Amendment 354 #
Proposal for a regulation Article 20 – paragraph 1 – subparagraph 2 a (new) The Advisory Hub will built on the experience gathered already from the European Investments Advisory Hub run by EFSI; It shall function under the responsibilities, coordination and direction of the European Investment Bank Group but it will have local reference, or even premises, especially in areas that are unable to use the InvestEU instrument;
Amendment 355 #
Proposal for a regulation Article 20 – paragraph 1 a (new) 1a. The InvestEU Advisory Hub shall provide advisory support at regional and local level to promote projects with positive climate, environmental and social impact and abiding by the ‘Energy Efficiency First’ principle. Project development assistance to continue to shall be part of the support provided by the Hub.
Amendment 356 #
Proposal for a regulation Article 20 – paragraph 2 – point b (b) assisting project promoters, where appropriate, in developing their projects to fulfil the objectives and eligibility criteria set out in Articles 3, 7 and 11 and facilitating development of aggregators for small-scale projects, as well as will assist in the formation of thematic and regional investment platforms by providing legal assistance and an appropriate template of an investment platform agreement; however, such assistance does not prejudge the conclusions of the Investment Committee on the coverage of the support of the EU guarantee to such projects;
Amendment 357 #
Proposal for a regulation Article 20 – paragraph 2 – point c (c) supporting actions and leveraging local knowledge to facilitate the use of the InvestEU Fund support across the Union, particularly in terms of assisting SMEs and advising on the opportunities available, and contributing actively where possible to the objective of sectorial and geographical diversification of the InvestEU Fund by supporting the implementing partners in originating and developing potential financing and investment operations;
Amendment 358 #
Proposal for a regulation Article 20 – paragraph 2 – point f a (new) (fa) undertaking communication and visibility actions to raise awareness of the available support to project promoters and to financial intermediaries provided by the Advisory Hub, and more generally of the opportunities available under InvestEu.
Amendment 359 #
Proposal for a regulation Article 20 – paragraph 2 – point f a (new) (fa) undertaking communication actions to raise awareness of the available support to project promoters and to financial and other intermediaries provided by the Advisory Hub, and more generally the opportunities available under InvestEU.
Amendment 360 #
Proposal for a regulation Article 20 – paragraph 4 4.
Amendment 361 #
Proposal for a regulation Article 20 – paragraph 6 6. The InvestEU Advisory Hub shall have local presence
Amendment 362 #
Proposal for a regulation Article 20 – paragraph 6 6. The InvestEU Advisory Hub shall have local presence
Amendment 363 #
Proposal for a regulation Article 20 – paragraph 6 6. The InvestEU Advisory Hub shall have
Amendment 364 #
Proposal for a regulation Article 20 – paragraph 6 6. The InvestEU Advisory Hub shall have
Amendment 365 #
Proposal for a regulation Article 20 – paragraph 6 6. The InvestEU Advisory Hub shall have
Amendment 366 #
Proposal for a regulation Article 20 – paragraph 6 6. The InvestEU Advisory Hub shall have
Amendment 367 #
Proposal for a regulation Article 21 – paragraph 1 1. The InvestEU Portal shall be established by the Commission. It shall
Amendment 368 #
Proposal for a regulation Article 21 – paragraph 1 1. The InvestEU Portal shall be established by the Commission. It shall be an easily accessible and user-friendly project database, providing relevant information for each project in every official language of the EU.
Amendment 369 #
Proposal for a regulation Article 22 – paragraph 1 a (new) 1a. Building on the experience of EFSI, one method of success calculation is often controversial. The Commission shall identify alternative methods of performance calculation, combining alternative macroeconomic and market measures, and publish the outcome of those methods in a semi-annual basis;
Amendment 370 #
Proposal for a regulation Article 22 – paragraph 3 3. The performance reporting system shall ensure that data for monitoring implementation and results are collected efficiently, effectively and in a timely manner. To that end, proportionate reporting requirements shall be imposed on implementing partners and other recipients of Union funds, as appropriate. The reporting systems shall provide a clear mapping of the policy windows detailed in the eligible areas for financing and investment operations as laid down in Annex II.
Amendment 371 #
Proposal for a regulation Article 22 – paragraph 4 4. The Commission shall report on the implementation of InvestEU Programme in accordance with [Articles 241 and 250] of the [Financial Regulation]. For that purpose, the implementing partners shall provide annually the information necessary to allow the Commission to comply with
Amendment 372 #
Proposal for a regulation Article 22 – paragraph 5 5. In addition, each implementing partner shall submit every six months a report to the Commission on the financing and investment operations covered by this Regulation, broken down by the EU compartment and the Member State compartment by Member State, as appropriate. The report shall include an assessment of compliance with the requirements on the use of the EU guarantee and with the key performance indicators laid down in Annex III to this Regulation. The report shall also, where appropriate and proportional, include operational, statistical, financial and accounting data on each financing and investment operation and at the compartment, policy window and the InvestEU Fund level. One of those reports shall contain the information the implementing partners shall provide in accordance with [Article 155(1)(a)] of the [Financial Regulation]. Wherever possible, those reports should be identical to reports already required at national or regional level. The Commission shall compile and assess implementing partners’ reports and submit a summary in the form of public annual reports, providing information on the level of implementation of the programme against its objectives and performance indicators, indicating risks and opportunities for the financing and investment operations supported by the InvestEU programme.
Amendment 373 #
Proposal for a regulation Article 22 – paragraph 5 5. In addition, each implementing partner shall submit every six months a report to the Commission on the financing and investment operations covered by this Regulation, broken down by the EU compartment and the Member State compartment by Member State, as appropriate. The report shall include an assessment of compliance with the requirements on the use of the EU guarantee and with the key performance indicators laid down in Annex III to this Regulation. The report shall also include operational, statistical, financial and accounting data on each financing and investment operation and at the compartment, policy window and the InvestEU Fund level. One of those reports shall contain the information the implementing partners shall provide in accordance with [Article 155(1)(a)] of the [Financial Regulation]. The Commission shall compile, and assess implementing partners’ reports and submit a summary in the form of public annual reports, providing information on the level of implementation of the programme against its objectives and performance indicators, indicating risks and opportunities for the financing and investment operations supported by the InvestEU programme.
Amendment 374 #
Proposal for a regulation Article 22 – paragraph 5 a (new) 5a. The Commission, shall publish on their web-portal information on financing and investment operations, including information on expected impacts and benefits of the projects, taking into account the protection of confidential and commercially sensitive information. The web-portal shall also provide public access to a registry of eligible counterparts. In accordance with relevant transparency policies and Union rules on data protection and on access to documents and information, the implementing partners and other recipients of Union funds shall proactively and systematically make publicly available on their websites information relating to all financing and investment operations covered by this programme, relating in particular to the manner in which those projects contribute to the achievement of the objectives and requirements of this Regulation. Such information shall always take into account the protection of confidential and commercially sensitive information. Implementing partners shall make public Union support in all information, which they publish on financing and investment operations covered by this programme in accordance with this Regulation.
Amendment 375 #
Proposal for a regulation Article 23 – paragraph 2 2. By 3
Amendment 376 #
Proposal for a regulation Article 24 – paragraph 1 Audits on the use of the Union funding carried out by the European Court of Auditors together with those performed by persons or entities, including by others than those mandated by the Union institutions or bodies, shall form the basis of the overall assurance pursuant to [Article 127] of the [Financial Regulation].
Amendment 377 #
Proposal for a regulation Article 27 – paragraph 2 2. The Commission shall
Amendment 378 #
Proposal for a regulation Annex I – paragraph 1 – point a (a) up to EUR 11
Amendment 379 #
Proposal for a regulation Annex I – paragraph 1 – point b (b) up to EUR 11
Amendment 380 #
Proposal for a regulation Annex I – paragraph 1 – point c (c) up to EUR 11
Amendment 381 #
Proposal for a regulation Annex I – paragraph 1 – point d (d) up to EUR
Amendment 382 #
Proposal for a regulation Annex II – paragraph 1 – introductory part The financing and investment operations may fall under one or more of the following areas, but shall not support activities related to production, processing, distribution, storage or combustion of fossil fuels, with the exception of investment related to clean vehicles as defined in Article 4 of Directive 2009/33/EC of the European Parliament and of the Council:
Amendment 383 #
Proposal for a regulation Annex II – paragraph 1 – introductory part The financing and investment operations may fall under one or more of the following areas but shall not support activities related to production, processing, distribution, storage or combustion of fossil fuels, or CO2 transport infrastructure:
Amendment 384 #
Proposal for a regulation Annex II – paragraph 1 – introductory part The financing and investment operations may fall under one or more of the following areas but shall not support activities related to production, processing, distribution, storage or combustion of fossil fuels:
Amendment 385 #
Proposal for a regulation Annex II – paragraph 1 – introductory part The financing and investment operations
Amendment 386 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point a (a) expansion of the generation, supply or use of clean and sustainable renewable energy
Amendment 387 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point a (a) expansion of the generation and accelerating the deployment, supply or use of clean and sustainable renewable energy;
Amendment 388 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point a (a) expansion of the generation, supply or
Amendment 389 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point a (a) expansion of
Amendment 390 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point a (a) expansion of the generation, supply or use of
Amendment 391 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point b (b) energy efficiency, energy transition and energy savings (with a focus on reducing demand through demand-side management and the refurbishment of buildings);
Amendment 392 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point c (c) development, smartening and modernisation of sustainable energy infrastructure (transmission and distribution level, storage technologies), and increasing the level of electricity interconnection between Member states;
Amendment 393 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point c (c) development, smartening and modernisation of sustainable energy infrastructure (transmission and
Amendment 394 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point d (d) production and supply of synthetic fuels from renewable
Amendment 395 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point d (d) production and supply of synthetic fuels from renewable
Amendment 396 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point d (d) production and supply of
Amendment 397 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point e Amendment 398 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point e Amendment 399 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point e (e) infrastructure for the carbon- capture and -storage
Amendment 400 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point e (e) carbon-capture and -storage infrastructure and manufacturing facilities towards energy transition.
Amendment 401 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point e (e)
Amendment 402 #
Proposal for a regulation Annex II – paragraph 1 – point 1 a (new) 1a. deployment of electric charging infrastructure.
Amendment 403 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – introductory part 2. Development of sustainable transport infrastructures and innovative mobility solutions, and equipment and innovative technologies in accordance with Union transport priorities and the commitments taken under the Paris Agreement, in particular through:
Amendment 404 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point a (a) projects supporting the sustainable development of the TEN-T infrastructure and small scale projects, including its urban nodes
Amendment 405 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point a (a) projects supporting development of the TEN-T infrastructure, including its urban nodes, maritime and inland ports, airports, multimodal terminals and their connection to the main networks;
Amendment 406 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point b (b) smart and sustainable urban mobility projects (targeting zero and low- emission urban transport modes, accessibility, air pollution and noise, energy consumption and accidents);
Amendment 407 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point b (b) smart and sustainable urban mobility projects (targeting
Amendment 408 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point c (c) supporting the renewal and retrofitting of transport mobile assets with the view of deploying
Amendment 409 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point d (d) railway infrastructure,
Amendment 410 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point b (b) smart and sustainable urban mobility projects (targeting low-emission urban transport modes, accessibility, air pollution and noise, energy consumption and
Amendment 411 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point d (d) railway infrastructure, other rail projects, inland waterway infrastructure and maritime ports;
Amendment 412 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point e (e) alternative fuels infrastructure,
Amendment 413 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point e (e) zero-emission alternative fuels infrastructure, including electric charging infrastructure.
Amendment 414 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point e (e)
Amendment 415 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point c (c) projects and enterprises in the fields of environmental resource management and
Amendment 416 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point f (f) climate change actions, including natural hazard disaster risk reduction, climate adaptation and mitigation;
Amendment 417 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point g (g) projects and enterprises that implement circular economy by integrating resource and energy efficiency aspects in the production and product life-cycle, including the
Amendment 418 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point g a (new) (ga) projects and enterprises implementing the bioeconomy, with a focus on substituting fossile-based raw materials with bio-based materials
Amendment 419 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point h (h) decarbonisation of and substantial reduction of emissions of energy-intensive industries, including large-scale demonstration of CCU and innovative
Amendment 420 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point h a (new) (ha) Oceans, Sea and Blue Economy
Amendment 421 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point h a (new) (ha) Energy efficiency
Amendment 422 #
Proposal for a regulation Annex II – paragraph 1 – point 4 4. Development of digital connectivity infrastructure, in particular through projects supporting deployment of very high capacity digital networks
Amendment 423 #
Proposal for a regulation Annex II – paragraph 1 – point 4 4. Development of digital connectivity infrastructure, in particular through projects supporting deployment of very
Amendment 424 #
Proposal for a regulation Annex II – paragraph 1 – point 4 4. Development of digital connectivity infrastructure, in particular through projects supporting deployment of very high capacity digital networks and 5G mobile connectivity.
Amendment 425 #
Proposal for a regulation Annex II – paragraph 1 – point 4 4. Development of digital connectivity infrastructure, in particular through projects supporting deployment of very high capacity digital networks
Amendment 426 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point a (a) research, including research infrastructure, regulatory frameworks and support to academia, and product development and innovation projects contributing to the objectives of [Horizon Europe];
Amendment 427 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point a (a)
Amendment 428 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point b (b) corporate projects, including vocational and managerial training and promotion of the creation of clusters and business networks;
Amendment 429 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point d (d) collaboration projects between academia and industry, public-private partnerships, and civil society, including patient and end-user organisations;
Amendment 430 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point d (d) collaborative research and innovation projects between academia, research and technology organisations and industry;
Amendment 431 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point d (d) collaboration projects between academia and industry, public private partnerships and civil society organisations;
Amendment 432 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point d (d) collaboration projects between
Amendment 433 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point f (f) new
Amendment 434 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point f (f) new effective and accessible healthcare products,
Amendment 435 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point f (f) new effective healthcare
Amendment 436 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point f (f)
Amendment 437 #
Proposal for a regulation Annex II – paragraph 1 – point 6 – introductory part 6. Development and deployment of advanced digital technologies and services which contribute to the digitisation of industry in the Union, in particular through:
Amendment 438 #
Proposal for a regulation Annex II – paragraph 1 – point 6 – introductory part 6. Development
Amendment 439 #
Proposal for a regulation Annex II – paragraph 1 – point 6 – point a (a) ethical artificial intelligence subject to prior assessment;
Amendment 440 #
Proposal for a regulation Annex II – paragraph 1 – point 6 – point a a (new) (aa) Quantum technologies
Amendment 441 #
Proposal for a regulation Annex II – paragraph 1 – point 6 – point d (d)
Amendment 442 #
Proposal for a regulation Annex II – paragraph 1 – point 6 – point e (e) advanc
Amendment 443 #
Proposal for a regulation Annex II – paragraph 1 – point 6 – point f (f) other advanced digital technologies and services contributing to the digitisation of the Union industry, in particular next generation connectivity technologies going beyond the current strategic connectivity targets.
Amendment 444 #
Proposal for a regulation Annex II – paragraph 1 – point 6 – point f (f) other advanced digital technologies and services
Amendment 445 #
Proposal for a regulation Annex II – paragraph 1 – point 6 a (new) 6a. robotics and automatisation.
Amendment 446 #
Proposal for a regulation Annex II – paragraph 1 – point 7 – introductory part 7. Financial support to
Amendment 447 #
Proposal for a regulation Annex II – paragraph 1 – point 7 – introductory part 7. Financial support to
Amendment 448 #
Proposal for a regulation Annex II – paragraph 1 – point 7 – point a (a) provision of working capital and investment, particularly relating to actions that drive an entrepreneurial culture and environment and promote the creation and growth of SMEs;
Amendment 449 #
Proposal for a regulation Annex II – paragraph 1 – point 7 – point a (a) provision of working
Amendment 450 #
Proposal for a regulation Annex II – paragraph 1 – point 7 – point b a (new) (ba) Female entrepreneurship
Amendment 451 #
Proposal for a regulation Annex II – paragraph 1 – point 8 Amendment 452 #
Proposal for a regulation Annex II – paragraph 1 – point 8 8. Cultural and creative sectors;
Amendment 455 #
Proposal for a regulation Annex II – paragraph 1 – point 11 – point a (a) microfinance, social enterprise finance, female entrepreneurship and social economy;
Amendment 456 #
Proposal for a regulation Annex II – paragraph 1 – point 11 – point c a (new) (ca) promotion of gender equality
Amendment 457 #
Proposal for a regulation Annex II – paragraph 1 – point 11 – point d – point i (i) education and training, including early childhood education and care, educational facilities, student housing and digital equipment, and student loans;
Amendment 458 #
Proposal for a regulation Annex II – paragraph 1 – point 11 – point d – point ii Amendment 459 #
Proposal for a regulation Annex II – paragraph 1 – point 11 – point g (g) integration of vulnerable people
Amendment 460 #
Proposal for a regulation Annex II – paragraph 1 – point 11 – point h (h) innovative health solutions, including health services
Amendment 461 #
Proposal for a regulation Annex II – paragraph 1 – point 11 – point h (h) innovative health solutions, including e-health, health services and new care models;
Amendment 462 #
Proposal for a regulation Annex II – paragraph 1 – point 12 Amendment 463 #
Proposal for a regulation Annex II – paragraph 1 – point 12 Amendment 464 #
Proposal for a regulation Annex II – paragraph 1 – point 12 Amendment 465 #
Proposal for a regulation Annex II – paragraph 1 – point 12 Amendment 466 #
Proposal for a regulation Annex II – paragraph 1 – point 12 – introductory part 12. Development of the defence industry, thereby enhancing the
Amendment 467 #
Proposal for a regulation Annex II – paragraph 1 – point 12 – point a Amendment 468 #
Proposal for a regulation Annex II – paragraph 1 – point 12 – point b Amendment 469 #
Proposal for a regulation Annex II – paragraph 1 – point 12 – point c Amendment 47 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium- sized enterprises ('SMEs') and the need to address key societal challenges such as sustainability or population ageing. Consequently, continued support is necessary to address market failures and sub-optimal investment situations to reduce the investment gap in targeted sectors to achieve the Union's policy objectives. In that regard, the primary aim of the InvestEU Programme should be to support otherwise difficult to fund projects that provide European citizen with long-term environmental and societal benefits such as high quality long-term jobs and public infrastructure. It is therefore much more important to identify and support projects that provide this genuine additionality and quality rather than being driven by technical aspects such as leverage factors or project speed and volumes.
Amendment 470 #
Proposal for a regulation Annex II – paragraph 1 – point 12 – point d Amendment 471 #
Proposal for a regulation Annex II – paragraph 1 – point 13 – introductory part 13. Space, in particular through the development of the space sector with an exclusive focus on civil applications in line with Space Strategy objectives:
Amendment 472 #
Proposal for a regulation Annex II – paragraph 1 – point 13 – point b (b) to foster the competitiveness of space systems and technologies, addressing in particular
Amendment 473 #
Proposal for a regulation Annex II – paragraph 1 – point 13 – point c (c) to underpin space entrepreneurship, including in downstream development;
Amendment 474 #
Proposal for a regulation Annex II – paragraph 1 – point 13 – point d (d) to foster Union's autonomy for safe and secure access to space
Amendment 475 #
Proposal for a regulation Annex II – paragraph 1 – point 13 – point d (d) to foster Union's autonomy for safe and secure access to space
Amendment 476 #
Proposal for a regulation Annex II – paragraph 1 – point 13 a (new) 13a. Seas and Oceans, through the development of a sustainable blue economy in line with the objectives of the Integrated Maritime Policy in particular through (a) maritime entrepreneurship (b) an innovative and competitive maritime industry (c) ocean literacy and blue careers (d) the International Ocean Governance agenda (e) maritime surveillance and security (f) cross-border cooperation (g) the implementation of the Sustainable Development Goals, in particular SDG 14 (Life Below Water)
Amendment 477 #
Proposal for a regulation Annex III – point 1 – introductory part 1. Volume of InvestEU financing (broken down by
Amendment 478 #
Proposal for a regulation Annex III – point 1 – point 1.4 a (new) 1.4a Synergies with other European programmes
Amendment 479 #
Proposal for a regulation Annex III – point 2 – introductory part 2. Geographical coverage of InvestEU financing
Amendment 48 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. According to the most recent data on national accounts, there no indication of a significant surge in investment since the European Fund for Strategic Investments (EFSI) was launched, while growth is unevenly distributed among Member States and mainly export led. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium- sized enterprises ('SMEs') and the need to address key societal challenges such as sustainability or population ageing. Consequently, continued support is necessary to address market failures and sub-optimal investment situations to reduce the investment gap
Amendment 480 #
Proposal for a regulation Annex III – point 2 a (new) 2a. Number of regions covered by projects;
Amendment 481 #
Proposal for a regulation Annex III – point 3 – point 3.2 3.2 Investment supporting climate objectives, detailed per policy window and category, as well as share of climate relevance;
Amendment 482 #
Proposal for a regulation Annex III – point 3 – point 3.2 3.2 Investment supporting energy and climate objectives for 2030 and 2050
Amendment 483 #
Proposal for a regulation Annex III – point 4 – point 4.1 4.1 Energy: Additional renewable energy generation capacity installed (MW) by source
Amendment 484 #
Proposal for a regulation Annex III – point 4 – point 4.2 4.2 Energy: Number of households, number of public and commercial premises with improved energy consumption classification, including the degree of improvement in the classification, or equivalent figures (e.g. housing units refurbished with individual measures or reaching efficiency standards, total real or calculated energy and CO2 emissions savings)
Amendment 485 #
Proposal for a regulation Annex III – point 4 – point 4.2 4.2 Energy: Number of households with improved energy consumption classification, number of households renovated to NZEB and passive house standard;
Amendment 486 #
Proposal for a regulation Annex III – point 4 – point 4.3 4.3 Digital: Additional households, commercial and/or public buildings with broadband access of at least 100 Mbps upgradable to Gigabit speed, or number of Wi-Fi-hotspots created
Amendment 487 #
Proposal for a regulation Annex III – point 4 – point 4.4 4.4 Transport: Investment mobilised in TEN-T of which: TEN-T core, small scale projects, other
Amendment 488 #
Proposal for a regulation Annex III – point 4 a (new) 4a. Number of alternative fuel infrastructure points deployed
Amendment 489 #
Proposal for a regulation Annex III – point 4 b (new) 4b. Climate change: Amount of CO2 emissions reduced by Invest EU operations.
Amendment 49 #
(1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs for sustaining a long-term growth rate based on the constant improvement of the Union's total factor productivity (TFP) in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium- sized enterprises ('SMEs') and the need to address key societal challenges such as sustainability or population ageing. Consequently, continued support is necessary to address market failures and sub-optimal investment situations to reduce the investment gap in targeted sectors to achieve the Union's policy objectives.
Amendment 490 #
Proposal for a regulation Annex III – point 5 – point 5.1 5.1 Contribution to the objective of 3% of the Union's GDP invested in research, development and innovation throughout the programme.
Amendment 491 #
Proposal for a regulation Annex III – point 5 – point 5.2 5.2 Number of enterprises supported carrying out research and innovation projects throughout the programme.
Amendment 492 #
Proposal for a regulation Annex III – point 5 – point 5.2 a (new) 5.2a Contribution to tackling Global Societal Challenges within Horizon Europe: 'Health and well-being', 'Inclusive society’, ‘Resilient society’, ‘Sustainable food', 'Natural resources and the Environment’.
Amendment 493 #
Proposal for a regulation Annex III – point 5 – point 5.2 a (new) 5.2a Number of projects that before got support through the Horizon Europe and/or the Digital programme.
Amendment 494 #
Proposal for a regulation Annex III – point 6 – introductory part 6. Gender disaggregated data on SMEs
Amendment 495 #
Proposal for a regulation Annex III – point 6 – point 6.1 6.1 Number of enterprises supported by size (micro, small, medium sized and, in duly justified cases, small mid-caps)
Amendment 496 #
Proposal for a regulation Annex III – point 6 – point 6.1 6.1 Number of enterprises supported by size (micro, small, medium sized
Amendment 497 #
Proposal for a regulation Annex III – point 6 – point 6.2 6.2 Number of enterprises supported by stage (early, growth/expansion) in particular innovative SMEs.
Amendment 498 #
Proposal for a regulation Annex III – point 6 – point 6.2 a (new) 6.2a Number of traditional enterprises undergoing transformation and receiving assistance with innovation
Amendment 499 #
Proposal for a regulation Annex III – point 7 – introductory part 7. Gender disaggregated data on Social Investment and Skills
Amendment 50 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a
Amendment 51 #
Proposal for a regulation Recital 1 a (new) (1a) Acknowledges that one of the main barrier to business investment is the lack of demand resulting from austerity measures, that provoked a sharp drop in workers’ disposable income and in public consumption and investment; believes that only an increase in workers’ income and ambitious public investment will be able to avoid risks of continued weak growth, or even recession, and continuing high unemployment rates; urges to an immediate reverse of the austerity measures, repeal the budget deficit and public debt limits and create a broad public investment plan;
Amendment 52 #
Proposal for a regulation Recital 2 (2) Evaluations have underlined that the variety of financial instruments delivered under the 2014-2020 Multiannual Financial Framework period has led to some overlaps and unclear processes for the blending of the European Structural Investment Funds with the market instruments developed by the Union. That variety has also produced complexity for intermediaries and final recipients who were confronted with different eligibility and reporting rules. Absence of compatible rules also hampered the combination of several Union funds although such combination would have been beneficial to support projects in need of different types of funding. Therefore, a single fund, the InvestEU Fund, should be set up in order to achieve additionality, a more efficiently functioning support to final recipients by integrating and simplifying the financial offer under a single budgetary guarantee scheme, thereby improving the impact of Union intervention while reducing the cost to the Union budget.
Amendment 53 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted
Amendment 54 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable growth and jobs, such as the Europe 2020 Strategy, the Capital Markets Union, the Digital Single Market Strategy, the Clean Energy for all Europeans package, the Union Action Plan for the Circular Economy, the Low-
Amendment 55 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable growth and jobs, such as the Capital Markets Union, the Digital Single Market Strategy, the Clean Energy for all Europeans package, the Union Action Plan for the Circular Economy, Horizon 2020, the Low-
Amendment 56 #
Proposal for a regulation Recital 4 (4)
Amendment 57 #
Proposal for a regulation Recital 4 a (new) (4a) The Decision of the United Kingdom to withdraw from the Union under Article 50 of the TEU on 29March 2019 poses a significant challenge to the Union economy with substantial trade in goods and services between the UK and the EU27. With potential consequences for GDP in the EU27 as a result of the withdrawal, the InvestEU fund should aim to assist EU industry, in particular SMEs.
Amendment 58 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, the
Amendment 59 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should
Amendment 60 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, scientific excellence, the sustainability of the Union's economic growth, the social resilience and inclusiveness and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners. It should be demand-driven while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union.
Amendment 61 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, the sustainability of the Union's economic growth, the social resilience and inclusiveness and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners. It should be demand-driven while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union and have a particularly strong focus on greatly enhancing access to finance for SMEs.
Amendment 62 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, advancing technologies and innovations combatting climate change, the
Amendment 63 #
Proposal for a regulation Recital 5 a (new) (5a) Access to finance remains an essential issue for companies in the cultural and creative sector. To further develop this highly innovation sector, the dedicated guarantee facility created in Creative Europe will be continued under InvestEU as it has showed to successfully strengthen the financial capacity and competitiveness of cultural and creative sectors companies.
Amendment 64 #
Proposal for a regulation Recital 5 b (new) (5b) The various debt and equity products offered under InvestEU and its thematic windows must cover a large spectrum of risk, including very high risks in particular in the RDI and Digitisation and SMEs windows, as it was the case under Horizon 2020 InnovFin.
Amendment 65 #
Proposal for a regulation Recital 5 c (new) (5c) Cultural and creative sectors are one of the most resilient and fastest growing sectors of the European economy, which generate economic and cultural value from intellectual property and individual creativity. However, the intangible nature of their assets limits their access to private financing. Thus, one of the greatest challenges for the sectors is to increase their access to finance, which is essential to invest, scale- up and compete at the international level. Therefore the InvestEU Programme should facilitate access to finance for SMEs and organisations from cultural and creative sectors.
Amendment 66 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster
Amendment 67 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster
Amendment 68 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster sustainable growth, investment and employment, and thereby contributing to improved well-being and fairer income distribution in the Union. Intervention through the InvestEU Fund should complement Union support delivered through grants.
Amendment 69 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster growth, investment and employment, that are also resilient to climate change, and thereby contributing to an improved environment, well-being and fairer income distribution in the Union.
Amendment 70 #
Proposal for a regulation Recital 6 a (new) (6a) Additionality, a key feature of the EFSI, should be strengthened in the InvestEU selection criteria. In particular, operations should only be eligible if they address clearly identified market failures or sub-optimal investment situations. InvestEU should not support public- private in infrastructure, given that these are in general more expensive for taxpayers and consumers.
Amendment 71 #
Proposal for a regulation Recital 7 (7) The Union endorsed the objectives set out in the United Nations Agenda 2030 and its Sustainable Development Goals and the Paris Agreement in 2015 as well as the Sendai Framework for Disaster Risk Reduction 2015-2030. To achieve the agreed objectives, including those embedded in the environmental policies of the Union, action pursuing sustainable development is to be stepped up significantly. Therefore, the principles of sustainable development, safety and climate-proofing should feature prominently in the design of the InvestEU Fund, which means that fossil fuel infrastructure and nuclear installations in the power sector should not be funded.
Amendment 72 #
Proposal for a regulation Recital 7 (7) The Union endorsed the objectives set out in the United Nations Agenda 2030 and its Sustainable Development Goals and the Paris Agreement in 2015 as well as the Sendai Framework for Disaster Risk Reduction 2015-2030. To achieve the agreed objectives, including those embedded in the environmental policies of the Union, action pursuing sustainable development is to be stepped up significantly. Therefore, the principles of sustainable development
Amendment 73 #
Proposal for a regulation Recital 9 (9) Reflecting the importance of tackling climate change in line with the Union’s climate related long-term objective and remaining carbon budget, the Union's commitments to implement the Paris Agreement 1a and the United Nations Sustainable Development Goals, the InvestEU Programme will contribute to mainstream climate actions and to
Amendment 74 #
Proposal for a regulation 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 achievement of an overall target of 25 % of the Union budget expenditures supporting climate objectives. At least 30% of the overall financial envelope of the Invest EU is expected to contribute to climate objectives. Actions under the InvestEU Programme are expected to contribute 30 % of the overall financial envelope of the InvestEU Programme to climate objectives. Relevant actions will be
Amendment 75 #
Proposal for a regulation 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 and the need to alignment of financial flows with a climate resilient development, the InvestEU Programme will contribute to mainstream climate actions and to the achievement of an overall target of
Amendment 76 #
Proposal for a regulation 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 achievement of an overall target of
Amendment 77 #
Proposal for a regulation Recital 9 a (new) (9a) With regard to cost of capital of renewable energy projects, the InvestEU Fund should allow for the use of an innovative guarantee instrument to reduce regulatory risk and associated high cost of capital in some Member States. This possibility should be open on a voluntary basis. To achieve this objective, the InvestEU Fund should contribute where appropriate to the enabling framework for investment into renewable energy as set out in Art 3.5 of the [revised Renewables Directive], including the financing mechanism established by Article 27bis of the [Governance Regulation].
Amendment 78 #
Proposal for a regulation Recital 10 (10) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through an EU climate tracking system developed by the Commission in cooperation with implementing partners and using in an appropriate way the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment14 ] for determining whether an economic activity is environmentally sustainable.
Amendment 79 #
Proposal for a regulation Recital 10 (10) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through an EU climate tracking system developed by the Commission in cooperation with implementing partners and using in an appropriate way the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment14 ] for determining whether an economic activity is environmentally sustainable.
Amendment 80 #
Proposal for a regulation Recital 10 (10) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through an EU climate tracking system developed by the Commission in cooperation with implementing partners and using in an appropriate way the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment14 ] for determining whether an economic activity is environmentally sustainable. The InvestEU Fund will also contribute to implementing the Sustainable Development Goals (SDGs) into EU policies and initiatives, with sustainable development as an essential guiding principle. _________________ 14 COM(2018)353.
Amendment 81 #
Proposal for a regulation Recital 10 (10) The contribution of the InvestEU Fund to the achievement of the energy and climate target and the sectorial targets included in the 2030 Climate and Energy Framework, will be tracked through an EU climate tracking system developed by the Commission in cooperation with implementing partners and using in an appropriate way the criteria established by [Regulation on the establishment of a
Amendment 82 #
Proposal for a regulation Recital 10 (10) The contribution of the InvestEU Fund to the achievement of the climate target and sectorial targets included in the 2030 Climate and Energy Framework will be tracked through an EU climate tracking system developed by the Commission in cooperation with implementing partners and using in an appropriate way the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment14 ] for determining whether an economic activity is environmentally sustainable. _________________ 14 COM(2018)353. COM(2018)353.
Amendment 83 #
Proposal for a regulation Recital 11 (11) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include air, soil
Amendment 84 #
Proposal for a regulation Recital 11 (11) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include air, soil and water pollution, extreme weather events, biodiversity losses and failures of climate-change mitigation and adaptation. Environmental principles are strongly embedded in the Treaties and many of the Union's policies. Therefore, the mainstreaming of environmental objectives should be promoted in the InvestEU Fund related operations. Environmental protection and related risk prevention and management should be integrated in the preparation and implementation of investments. The EU should also track its biodiversity-related and air pollution control-related expenditure in order to fulfil the reporting obligations under the Convention on Biological Diversity and Directive (EU) 2016/2284 of the European Parliament and of the Council. 15 Investment
Amendment 85 #
Proposal for a regulation Recital 12 a (new) (12a) The InvestEU Programme should also integrate the gender perspective in all its working and decision making processes, make sure that committees and projects teams are gender balanced and ensure that the implementation of this fund contributes to the promotion of gender equality in compliance with EU gender mainstreaming obligations (article 8 TFEU).
Amendment 86 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. The relative weakness of the Infrastructure and Innovation Window under EFSI indicates the low demand side of the market to invest in infrastructures, especially cross-border infrastructures, despite the availability of supply-side investment instruments. Sizeable investments in the European infrastructure are fundamental to meet the Union's sustainability targets,
Amendment 87 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the
Amendment 88 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost
Amendment 89 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure are fundamental to
Amendment 90 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence.
Amendment 91 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure, notably interconnection, are fundamental to meet the Union's sustainability targets, including the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy, environmental, climate action, maritime and digital infrastructure. To maximise the impact and the value added of Union
Amendment 92 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis
Amendment 93 #
Proposal for a regulation Recital 13 a (new) (13a) The Invest EU Programme treats energy efficiency as a crucial element and a key consideration for investment decisions. Namely, it enshrine the 'energy efficiency first’ principle, which means to consider, before taking energy planning, policy and investment decisions, whether cost-efficient, technically, economically and environmentally sound alternative energy efficiency measures could replace in whole or in part the envisaged planning, policy and investment measures, whilst still achieving the objectives of the respective decisions. Such cost-efficient alternatives include measures to make energy demand and energy supply more efficient, in particular by means of cost-effective energy end-use savings, demand-side response initiatives and more efficient conversion, transmission and distribution of energy. Member States should also encourage the spread of this principle in regional and local government, as well as in the private sector.
Amendment 94 #
Proposal for a regulation Recital 13 a (new) (13a) The Energy Performance of Buildings directive (Directive (EU) 2018/844) requires Member States to establish a long-term renovation strategy to support the renovation of the national stock of residential and non-residential buildings, both public and private, into a highly energy efficient and decarbonised building stock by 2050, facilitating the cost-effective transformation of existing buildings into nearly zero-energy buildings. Member States are also required to facilitate access to appropriate mechanisms for the aggregation of projects and the reduction of the perceived risk for investors and the private sector.
Amendment 95 #
Proposal for a regulation Recital 14 (14) Whereas the level of overall investment in the Union is increasing, investment in higher-risk activities such as research and innovation is still inadequate.
Amendment 96 #
Proposal for a regulation Recital 14 (14) Whereas the level of overall investment in the Union is increasing, investment in higher-risk activities such as research and innovation is still inadequate. The resulting underinvestment in research and innovation is damaging to the industrial and economic competitiveness of the Union and the quality of life of its citizens. The InvestEU Fund should provide the appropriate financial products to cover different stages in the innovation cycle and a wide range of stakeholders
Amendment 97 #
Proposal for a regulation Recital 14 a (new) (14a) To provide the best possible advice to InvestEU beneficiaries, as well as to support synergies with Horizon Europe, services provided by the EIB InnovFin Advisory should be strengthened.
Amendment 98 #
Proposal for a regulation Recital 15 (15) A significant effort is urgently needed to invest in digital transformation
Amendment 99 #
Proposal for a regulation Recital 15 (15) A significant effort is urgently needed to invest in digital transformation and to distribute the benefits of it to all Union citizens and businesses. The strong policy framework of the Digital Single Market Strategy should now be matched by investment of a similar ambition, including in ethical artificial intelligence
source: 625.578
2018/10/02
TRAN
287 amendments...
Amendment 100 #
Proposal for a regulation Article 7 – paragraph 1 – point d a (new) (d a) infrastructure maintenance window: access to and availability of finance for the renovation and maintenance of existing rail and road bridges and tunnels for the sake of their safety;
Amendment 100 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point c (c) estimate the impact on
Amendment 101 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities with a social goal; integration of vulnerable people, including third country nationals legally residing in one of the Member States of the EU.
Amendment 101 #
Proposal for a regulation Article 7 – paragraph 5 5. Implementing partners shall target that at least
Amendment 102 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations under the
Amendment 102 #
Proposal for a regulation Article 8 – paragraph 1 – introductory part 1. Each policy window referred to in Article 7(1) shall consist of two compartments addressing specific market failures or sub-optimal investment situations - that is, situations involving projects which, because of their particularly innovative nature, could not have been implemented without the support of the EU guarantee but which are likely to have a positive impact in terms of growth and employment, especially in rural areas - as follows:
Amendment 103 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – introductory part The Commission guidance shall go beyond current carbon pricing and CO2 footprint methodologies and allow to:
Amendment 103 #
Proposal for a regulation Article 11 – paragraph 2 – point a (a) cross-border projects between entities located or established in one or more Member States and extending to one or more third countries,
Amendment 104 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point a a) as regards adaptation, ensure the resilience to the potential adverse impacts of climate change through a climate vulnerability and risk assessment, including relevant adaptation measures, and, as regards mitigation, integrate the cost of greenhouse gas emissions and the positive effects of climate mitigation measures in the cost-benefit analysis and ensure compliance with the EU environmental objectives and standards;
Amendment 104 #
Proposal for a regulation Article 11 – paragraph 3 – point b Amendment 105 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point c a (new) c a) demonstrate the contribution of the project to the climate and energy objectives, including the transition to a net-zero GHG emission economy at the latest by 2050;
Amendment 105 #
Proposal for a regulation Article 12 – paragraph 2 – point c (c) maximises
Amendment 106 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point c a (new) c a) estimate the positive effects as to achieve the EUs climate and energy targets as set out in the EU climate and energy efficiency strategies
Amendment 106 #
Proposal for a regulation Article 12 – paragraph 2 – point d (d) achieves a balanced geographical diversification, favouring in particular rural areas;
Amendment 107 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point c a (new) c a) estimate the positive effects as to achieve the EUs climate and energy targets as set out in the EU climate and energy efficiency strategies
Amendment 107 #
Proposal for a regulation Article 12 – paragraph 2 – point f (f) promotes innovating financial and risk solutions to address market failures and sub-optimal investment situations, that is, situations involving projects which could not have been implemented without the support of the EU guarantee .
Amendment 108 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point c b (new) c b) rule out support for any fossil fuel infrastructure, including related to production, processing, transmission, distribution,storage or combustion of fossil fuels;
Amendment 108 #
Proposal for a regulation Article 18 – paragraph 6 6. Each project team expert shall declare to the Commission any conflict of interest and shall communicate without delay to the Commission all information needed to check on an ongoing basis the absence of any conflict of interest. The Commission shall check that declarations of conflict of interest submitted by the experts are accurate and exhaustive and shall keep them up to date. In so far as possible, and in accordance with the law and any applicable confidentiality rules, the Commission shall make public the experts' CVs and all other relevant information about them in, for example, its annual reports on InvestEU or on its internet platform or portal for the InvestEU programme and the projects supported through it.
Amendment 109 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point c c (new) c c) undertake an assessment whether cost-efficient, technically, economically and environmentally sound alternative energy efficiency measures, by means of cost-effective energy end-use savings, demand-side response initiatives and more efficient conversion, transmission and distribution of energy, could replace in whole or in part the proposed operation whilst still achieving the objectives of the respective undertaking, in line with the Regulation of the European Parliament and of the Council on the Governance of the Energy Union;
Amendment 109 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 2 a (new) The experts shall be paid at a level not significantly above the normal market rate, having regard to individuals' qualifications and experience, and the Commission shall disclose their level of remuneration, notably in the course of its annual exchanges with Parliament.
Amendment 11 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis, despite the launch of the Juncker Plan which was supposed to support private investment. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium- sized enterprises ('SMEs') and the need to address key societal challenges such as sustainability or population ageing. Consequently, continued support is necessary to address market failures and sub-optimal investment situations to reduce the investment gap in targeted sectors to achieve the Union's policy objectives.
Amendment 110 #
Proposal for a regulation Article 7 – paragraph 4 4. Implementing partners shall provide the information necessary to allow the tracking of investment that contributes to meeting the Union objectives on climate and environment, based on guidance to be provided by the Commission and assess compliance of operations with the Regulation on the establishment of a framework to facilitate sustainable investment (COM(2018)353) and the EU environmental objectives and standards; .
Amendment 110 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 3 The experts shall have a high level of relevant market experience in project structuring and financing or financing of SMEs or corporates, and their CVs shall be made public.
Amendment 111 #
Proposal for a regulation Article 7 – paragraph 5 5.
Amendment 111 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 4 The composition of the Investment Committee shall ensure that it has a wide knowledge of the sectors covered by the policy windows referred to in Article 7(1) and of the geographic markets in the Union and that it is gender-balanced as a whole. Owing to the specificity of the financing and investment operations in the sectors referred to in point 8 of Annex II to this programme, and the associated risk, the presence of an expert with experience in investment in the cultural, creative and audiovisual sectors shall be ensured for each policy window. The vote of said expert shall be taken into account in the tasks assigned to the investment committees referred to in paragraph 1.
Amendment 112 #
Proposal for a regulation Article 7 – paragraph 5 a (new) 5a. Implementing partners shall ensure that at least 10% of investment under the sustainable infrastructure policy sector is used to meet the EU objective of eliminating fatal road accidents and serious injuries by 2050.
Amendment 112 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 6 The Commission shall adopt the rules of procedure and manage the secretariat for the Investment Committee. The rules of procedure of the Investment Committee shall be made public.
Amendment 113 #
Proposal for a regulation Article 7 – paragraph 5 5. Implementing partners shall target that at least 50 % of the investment under the sustainable infrastructure policy window contribute to meeting the Union objectives on climate and environment
Amendment 113 #
Proposal for a regulation Article 19 – paragraph 3 – subparagraph 2 CVs and declarations of interest of each member of the Investment Committee shall be made public and constantly updated. Each member of the Investment Committee shall communicate without delay to the Commission all information needed to check on an ongoing basis the absence of any conflict of interest and the Commission, for its part, shall carry out regularly updated and exhaustive checks.
Amendment 114 #
Proposal for a regulation Article 7 – paragraph 5 5. Implementing partners shall target that at least 50 % of the investment under the sustainable infrastructure policy window contribute to meeting the Union objectives on climate and environment
Amendment 114 #
Proposal for a regulation Article 19 – paragraph 3 – subparagraph 3 The Commission may remove a member from his or her functions if he or she does not respect the requirements laid down in this paragraph or for other duly justified reasons. The Commission shall inform Parliament and the public when there is any change in the Investment Committee's composition, subject to confidentiality requirements and to the law applicable in such an eventuality.
Amendment 115 #
Proposal for a regulation Article 7 – paragraph 5 5. Implementing partners shall target that at least
Amendment 115 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 1 Conclusions of the Investment Committee shall be adopted by simple majority of all members, who shall be present for the vote. In case of a draw, the chair of the Investment Committee has the casting vote.
Amendment 116 #
Proposal for a regulation Article 7 – paragraph 5 5. Implementing partners shall target that at least
Amendment 116 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 2 Conclusions of the Investment Committee approving the support of the EU guarantee to a financing or investment operation shall be made publicly accessible by any means, and in particular on the InvestEU programme's internet platform or portal, and shall include the rationale for the approval. The publication shall not contain commercially sensitive information.
Amendment 117 #
Proposal for a regulation Article 7 – paragraph 6 a (new) 6 a. As to ensure the climate mainstreaming objectives stipulated in this Regulation are fulfilled, the Commission shall put in place a centrally managed system for climate tracking for allocated ressources and the actual spending based on the Rio Marker system, differentiating between mitigation and adaptation and the different sectors and its GHG emission reductions.
Amendment 117 #
Proposal for a regulation Article 20 – paragraph 2 – point f (f) supporting actions for capacity building to develop organisational capacities, skills and processes and accelerate investment readiness of organisations in order for promoters and authorities to build investment project pipelines and to manage projects and for financial intermediaries to implement financing and investment operations for the benefit of entities that face difficulties in obtaining access to finance, including through support to develop risk assessment capacity or sector specific knowledge, in particular in regard to the cultural and creative sector.
Amendment 118 #
Proposal for a regulation Article 7 – paragraph 6 b (new) 6 b. As to ensure required level of financing, at least 10% of the investment under InvestEU policy windows and in both EU and Member State compartments must be allocated for the “Environment and resources” eligible area.
Amendment 118 #
Proposal for a regulation Article 21 – paragraph 3 3. Only projects
Amendment 119 #
Proposal for a regulation Article 8 – paragraph 1 – point a – point iii (iii) new or complex market failures or sub-optimal investment situations with a view to developing new financial solutions and market structures
Amendment 119 #
Proposal for a regulation Article 22 – paragraph 4 4. The Commission shall report annually on the implementation of InvestEU Programme in accordance with [Articles 241 and 250] of the [Financial Regulation]. For that purpose, the implementing partners shall provide annually the information necessary to allow the Commission to comply with its reporting obligations.
Amendment 12 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs in the face of technological change and global competitiveness, including for innovation, education, skills, infrastructure, small and medium-
Amendment 120 #
Proposal for a regulation Article 8 – paragraph 1 – point a – point iii a (new) (iii a) intensified cooperation for the formulation, preparation and implementation of cross-border transport projects
Amendment 120 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point d (d) enhancement and restoration of eco-systems and their services; conservation and protection of natural archaeological sites and monuments of the cultural environment;
Amendment 121 #
Proposal for a regulation Article 8 – paragraph 1 – point b (b) the Member State compartment shall address specific market failures or sub-optimal investment situations in one or several Member States to deliver objectives of the contributing Funds under shared management. A contribution agreement can also be concluded between a regional authority of a Member State and the Commission. Such agreement shall provide for investment activities on the territory of the contributing region and shall be subject to equal conditions as set out in the Article 9 of the Regulation.
Amendment 121 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point h a (new) (ha) addressing climate change and promoting sustainable cultural heritage, in particular strategies and instruments necessary to safeguarding tangible and intangible cultural heritage in Europe.
Amendment 122 #
Proposal for a regulation Article 8 – paragraph 2 a (new) 2 a. The Commission is empowered to adopt delegated acts in accordance with Article 26 to define market failures and sub-optimal investment situations referred to in paragraph 1 after receiving advice from the advisory board.
Amendment 122 #
Proposal for a regulation Annex II – paragraph 1 – point 4 4. Development of digital connectivity infrastructure, in particular through projects supporting deployment of very high capacity digital networks in rural areas.
Amendment 123 #
Proposal for a regulation Article 9 – paragraph 2 – subparagraph 2 The Member State and the Commission shall conclude the contribution agreement or an amendment to it within
Amendment 123 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point a a (new) (aa) new technology such as assistive technology applied to cultural and creative goods and services;
Amendment 124 #
Proposal for a regulation Article 9 – paragraph 3 – point a a (new) a a) identified market failures and sub- optimal investment situations which should be addressed by the financed operations;
Amendment 124 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point a b (new) (ab) cultural and creative industries and sectors, for example augmented reality/virtual reality, immersive environments, human computer interfaces, internet protocol and cloud infrastructures, 5G networks, new media;
Amendment 125 #
Proposal for a regulation Article 11 – paragraph 2 – point a (a) cross-border projects between entities located or established in one or more Member States and extending to one
Amendment 125 #
Proposal for a regulation Annex II – paragraph 1 – point 6 – point f a (new) (fa) use of digital technology for the preservation and restoration of European tangible and intangible cultural heritage;
Amendment 126 #
Proposal for a regulation Article 11 – paragraph 3 – introductory part 3.
Amendment 126 #
Proposal for a regulation Annex II – paragraph 1 – point 6 – point f b (new) (fb) technological management of intellectual property rights
Amendment 127 #
Proposal for a regulation 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 t
Amendment 127 #
Proposal for a regulation Annex II – paragraph 1 – point 8 8. Cultural and creative sectors; media, audio-visual sector and journalism, advertising, the cultural heritage, traditional handicrafts, museums, sports, design, cinema, theatre, music, visual arts, publishing, video games.
Amendment 128 #
Proposal for a regulation 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 three Member States. The implementing partners may also cover together financing and investment operations in at least three Member States by forming a group. This condition can be fulfilled by covering financing and investment operations in one region of a Member State.
Amendment 128 #
Proposal for a regulation Annex II – paragraph 1 – point 8 a (new) 8 a. sport-related industries; sustainability and profitability of investment in sports facilities, sports events and partnerships with other industry sectors.
Amendment 129 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 3 For the Member State compartment, the national or regional authority of the Member State or region concerned may propose one or more eligible counterparts as implementing partners from among those that have expressed their interest pursuant to Article 9(3)(c).
Amendment 129 #
Proposal for a regulation Annex II – paragraph 1 – point 9 9. Tourism, including projects that drive sustainable tourism and are associated with any special form of thematic tourism such as cultural, religious and pilgrimage, sports and educational tourism, rural tourism and youth tourism.
Amendment 13 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs in the face of technological change and global competitiveness, including for innovation, skills, infrastructure
Amendment 130 #
Proposal for a regulation 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 t
Amendment 130 #
Proposal for a regulation Annex II – paragraph 1 – point 11 – point d – point i (i) education and training, including early childhood education and care,
Amendment 131 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 4 Where the Member State or region concerned does not propose an implementing partner, the Commission shall proceed in accordance with the second subparagraph of this paragraph among those implementing partners that can cover financing and investment operations in the geographical areas concerned.
Amendment 131 #
Proposal for a regulation Annex II – paragraph 1 – point 11 – point d – point i (i) education and training, including
Amendment 132 #
Proposal for a regulation Article 15 – paragraph 3 Amendment 132 #
Proposal for a regulation Annex II – paragraph 1 – point 11 – point f (f) cultural activities and sports events with a social goal; support for vulnerable groups, social inclusion and charity;
Amendment 133 #
Proposal for a regulation Article 16 – paragraph 1 1. The remuneration for risk-taking shall be allocated between the Union and an implementing partner in proportion to their respective share in the risk-taking of a portfolio of financing and investment operations or, where relevant, of individual operations. The implementing partner shall have a
Amendment 133 #
Proposal for a regulation Annex II – paragraph 1 – point 11 – point g Amendment 134 #
Proposal for a regulation Article 16 – paragraph 1 1. The remuneration for risk-taking shall be allocated between the Union and an implementing partner in proportion to their respective share in the risk-taking of a portfolio of financing and investment operations or, where relevant, of individual operations. The implementing partner shall have an appropriate exposure at its own risk to financing and investment operations supported by the EU guarantee, unless
Amendment 135 #
Proposal for a regulation Article 16 a (new) Article 16a Investment clause: 1. Within the meaning of Article 5(1) of Regulation (EC) No 1466/97 and Article 3(4) of Regulation (EC) No 1467/97, the following contributions shall be considered one-off measures: (a) financial contributions from Member States to the InvestEU programme; (b) financial contributions on behalf of countries and local authorities to operations benefiting from funding from the InvestUE programme; 2. All the financial contributions referred to in paragraph 1 shall contribute to the achievement of the Union's political objectives
Amendment 136 #
Proposal for a regulation Article 17 – paragraph 5 a (new) 5 a. The minutes of meetings of the advisory board shall be publicly available on a dedicated webpage.
Amendment 137 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 3 – point c a (new) (c a) the compliance with the EU environmental standards;
Amendment 138 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 3 – point c b (new) (c b) the compliance with the Charter of Fundamental Rights;
Amendment 139 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 3 – point c c (new) (c c) whether the proposed operation addresses the identified market failures or sub-optimal investment situations.
Amendment 14 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs in the face of technological change and global competitiveness, including for innovation and creation, skills, infrastructure, small and medium-
Amendment 140 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 3 The scoreboard shall be publicly available before approval of the investment operation after the signature of a financing or investment operation or sub-project, if applicable. The publication shall not contain commercially sensitive information or personal data not to be disclosed under the Union data protection rules.
Amendment 141 #
Proposal for a regulation Article 20 – paragraph 1 – subparagraph 2 a (new) The Invest EU Advisory Hub shall provide advisory support at national, regional and local level to promote projects with a view of ensuring that social and environmental aspects are taken into regard throughout the project cycle. Such support shall include assistance to project development and capacity building.
Amendment 142 #
Proposal for a regulation Article 20 – paragraph 1 – subparagraph 2 a (new) The Invest EU Advisory Hub shall provide advisory support at national, regional and local level to promote projects with a view of ensuring that social and environmental aspects are taken into regard throughout the project cycle. Such support shall include assistance to project development and capacity building.
Amendment 143 #
Proposal for a regulation Article 20 – paragraph 6 6. The InvestEU Advisory Hub shall have local presence, where necessary, especially in outermost regions. It shall be established in particular in Member States or regions that face difficulties in developing projects under the InvestEU Fund. The InvestEU Advisory Hub shall assist in the transfer of knowledge to the regional and local level with a view to building up regional and local capacity and expertise for support referred to in paragraph 1.
Amendment 144 #
Proposal for a regulation Article 21 – paragraph 1 1. The InvestEU Portal shall be established by the Commission. It shall be a
Amendment 145 #
Proposal for a regulation Article 22 – paragraph 1 a (new) 1 a. The Commission shall define a methodology to provide for qualitative indicators for an accurate assessment of the progress towards achieving the objectives set out in Article 3. On the basis of this methodology the Commission shall complement the Annex III, at the latest by January 1st 2021.
Amendment 146 #
Proposal for a regulation Article 22 – paragraph 3 3. The performance reporting system shall ensure that data for monitoring implementation and results are suitable for an in-depth analysis of the progress achieved and the difficulties encountered and are collected efficiently, effectively and in a timely manner. To that end, proportionate reporting requirements shall be imposed on implementing partners and other recipients of Union funds, as appropriate.
Amendment 147 #
Proposal for a regulation Article 22 – paragraph 4 4. The Commission shall report on the implementation of InvestEU Programme in accordance with [Articles 241 and 250] of the [Financial Regulation]. For that purpose, the implementing partners shall provide annually the information necessary to allow the Commission to comply with its reporting obligations. As part of the annual reporting, the Commission shall annually analyse a multi-annual consolidation exercise to identify whether climate expenditure is on track to achieve the 60% target. The Commission shall provide information on the support to climate change objectives differentiating between mitigation and adaptation as well as information on the climate contribution of relevant financial instruments, and make this publicly available.
Amendment 148 #
Proposal for a regulation Article 23 – paragraph 1 1. Evaluations shall be done in a timely manner to feed into the decision- making process. The evaluations shall also provide for a qualitative assessment of the progress towards achieving the objectives set out in Article 3.
Amendment 149 #
Proposal for a regulation Article 24 – paragraph 1 a (new) The EU guarantee, payments and recoveries under it, and operations under the InvestEU programme shall be audited by the Court of Auditors. A special report by the Court of Auditors should be issued 18 months after the entry into force of this regulation.
Amendment 15 #
Proposal for a regulation Recital 2 (2) Evaluations have underlined that the variety of financial instruments delivered under the 2014-2020 Multiannual Financial Framework period has led to some overlaps. That variety has also produced complexity for intermediaries and final recipients who were confronted with different eligibility and reporting rules. Absence of compatible rules also hampered the combination of several Union funds although such combination would have been beneficial to support projects in need of different types of funding. Moreover, the loan guarantee instruments did not fully realise their aims: according to the 2017 Court of Auditors report, they essentially created a deadweight effect by supporting projects that would, in any case, have attracted financing from the private market. Therefore, a single fund, the InvestEU Fund, should be set up in order to achieve
Amendment 150 #
Proposal for a regulation Annex I – paragraph 1 a (new) In accordance with Article 4 of this Regulation, this distribution may be modified during the financial year in line with developments in the various objectives referred to in Article 3(2) of this Regulation.
Amendment 151 #
Proposal for a regulation Annex II – paragraph 1 – introductory part The financing and investment operations may fall under one or more of the following areas but shall not support activities related to production, processing, distribution, storage or combustion of fossil fuels, or CO2 transport infrastructure:
Amendment 152 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – introductory part 1. Development of the energy sector, excluding activities related to production, processing, transmission, distribution, storage or combustion of fossil fuels, in accordance with the Energy Union priorities, including security of energy supply, and the commitments taken under the Agenda 2030 and the Paris Agreement, in particular through:
Amendment 153 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point a (a) expansion of the generation, and promoting rapid deployment, supply or use of clean and sustainable renewable energy;
Amendment 154 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point a (a) expansion of the generation and promoting rapid deployment, supply or use of clean and sustainable renewable energy;
Amendment 155 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point d (d) production and supply of synthetic fuels from renewable
Amendment 156 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point d (d) production and supply of synthetic fuels from renewable/carbon-neutral sources; alternative fuels for all modes of transport;
Amendment 157 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point e Amendment 158 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – introductory part 2. Development of sustainable transport infrastructures, excluding motorways and express-ways and airports, and equipment and innovative technologies in accordance with Union transport priorities and the commitments taken under the Paris Agreement, in particular through:
Amendment 159 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – introductory part 2. Development of sustainable and safe transport infrastructures, and equipment and innovative technologies in accordance with Union transport priorities and the commitments taken under the Paris Agreement, in particular through:
Amendment 16 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable growth and jobs, such as the Capital Markets Union, the Digital Single Market Strategy, the European Agenda for Culture, the Clean Energy for all Europeans package, the Union Action Plan for the Circular Economy, the Low- Emission Mobility Strategy, the Defence and the Space Strategy for Europe. The InvestEU Fund should exploit and reinforce synergies between those mutually reinforcing strategies through providing support to investment and access to financing.
Amendment 160 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point a (a) projects supporting development of the TEN-T infrastructure, including its urban nodes, maritime and inland ports
Amendment 161 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point a a (new) (aa) projects that help to improve driver and passenger safety and reduce the number of fatal accidents and people sustaining serious injuries, in particular in the area of road transport;
Amendment 162 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point a b (new) (ab) infrastructure projects that make provision for the use of at least two different modes of transport, in particular multimodal freight terminals and passenger transport hubs;
Amendment 163 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point a c (new) (ac) road infrastructure designed to meet the needs of road transport sector workers, including secure car-parks and parking spaces equipped with the necessary sanitary facilities, so as to give heavy-duty vehicle drivers a comfortable, safe and affordable place to rest;
Amendment 164 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point b (b) smart and sustainable urban mobility projects, including inland waterway and air transport (targeting low- emission urban transport modes, non- discriminatory accessibility, air pollution and noise, energy consumption and accidents);
Amendment 165 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point b (b) smart and sustainable urban mobility projects, including inland waterway and air transport (targeting low- emission urban transport modes, non- discriminatory accessibility, air pollution and noise, energy consumption and accidents);
Amendment 166 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point b (b) smart and sustainable urban mobility projects that take account of the needs of cyclists and pedestrians (targeting low-emission urban transport modes, accessibility, air pollution and noise, energy consumption and accidents);
Amendment 167 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point b (b) smart and sustainable urban mobility projects (targeting low-emission urban transport modes, accessibility, air pollution and noise, energy consumption and
Amendment 168 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point b a (new) (ba) projects for achievement of improved traffic safety and accessible mobility in towns and rural areas;
Amendment 169 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point d (d) railway infrastructure, other rail projects,
Amendment 17 #
Proposal for a regulation Recital 4 Amendment 170 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point e (e) alternative fuels infrastructure for all modes of transport, including electric charging infrastructure.
Amendment 171 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point e a (new) (ea) projects in the area of digital distribution and the combining of ticket purchase systems for various means of transport;
Amendment 172 #
Proposal for a regulation Annex II – paragraph 1 – point 6 – point a a (new) (a a) Protection of Privacy and Personal Data
Amendment 173 #
Proposal for a regulation Annex II – paragraph 1 – point 7 – introductory part 7. Financial support
Amendment 175 #
Proposal for a regulation Annex II – paragraph 1 – point 12 Amendment 176 #
Proposal for a regulation Annex II – paragraph 1 – point 12 Amendment 177 #
Proposal for a regulation Annex III – point 3 – point 3.3 a (new) 3.3a Investment supporting improved driver and passenger safety in all modes of transport, in particular road transport
Amendment 178 #
Proposal for a regulation Annex III – point 3 – point 3.3 a (new) 3.3 a Absolute and relative greenhouse gasses emission
Amendment 179 #
Proposal for a regulation Annex III – point 4 – point 4.2 a (new) 4.2 a Energy: energy saved
Amendment 18 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and the social and cultural development of the Union, including in the field of innovation, creation and digitisation, the sustainability of the Union's economic growth, the social resilience and inclusiveness, strengthening humans skills and capabilities as key enablers of economic, social and cultural development and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners. It should be demand-driven while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union.
Amendment 180 #
4.2 b Energy: absolute and relative greenhouse gasses emission
Amendment 181 #
Proposal for a regulation Annex III – point 4 – point 4.4 4.4 Transport: Investment mobilised in TEN-T of which: TEN-T core network, global TEN-T network in the component parts identified in the annexes to[Regulation No XXX] establishing the Connecting Europe Facility.
Amendment 182 #
Proposal for a regulation Annex III – point 4 – point 4.4 4.4. Transport: Investment mobilised in TEN-T of which: TEN-T core and additional network
Amendment 183 #
Proposal for a regulation Annex III – point 4 – point 4.4 a (new) 4.4 a Transport: Investments mobilised to contribute to a balanced mix between transport modes, including innovative solutions for inland waterway and air transport
Amendment 184 #
Proposal for a regulation Annex III – point 4 – point 4.4 a (new) 4.4a Transport: Investment mobilised in multimodal infrastructure
Amendment 185 #
Proposal for a regulation Annex III – point 4 – point 4.5 a (new) 4.5 a Transport: absolute and relative greenhouse gasses emission
Amendment 186 #
Proposal for a regulation Annex III – point 7 – point 7.2 a (new) 7.2 a Support to highly qualified workforce: number of employees supported to maintain highly skilled workforce in the manufacturing and services and adapt it to digitalisation
Amendment 19 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, the sustainability of the Union's economic growth, the social resilience and inclusiveness, strengthening human skills and capabilities as key enablers of economic, cultural and social development and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners. It should be demand-driven while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union.
Amendment 20 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, the sustainability of the Union's economic growth, the social resilience and inclusiveness and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable, and, in so far as possible, sources of added value in terms of employment or innovation, by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners. It should be demand-driven while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union.
Amendment 21 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, the sustainability of the Union's economic growth, the social resilience and inclusiveness and the integration of the Union capital markets, including solutions addressing their fragmentation and helping support the twofold value of the cultural and creative industries, diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners. It should be demand-driven while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union.
Amendment 22 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, supporting skills, the sustainability of the Union's economic growth, the social resilience and inclusiveness, in particular for young people from vulnerable social groups, and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners. It should be demand-driven while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union.
Amendment 23 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis, sometimes with serious consequences. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium- sized enterprises ('SMEs') and the need to address key societal challenges such as sustainability or population ageing. Consequently, continued support is necessary to address market failures and sub-optimal investment situations to reduce the investment gap in targeted sectors to achieve the Union's policy objectives.
Amendment 23 #
Proposal for a regulation Recital 5 a (new) (5a) The projects and companies supported through InvestUE should span a range of sectors, including in particular though not only the cultural and creative industries, which represent high added value in terms of wealth generation and employment but where micro-enterprises and SMEs find it hard to access private financing, as well as cutting-edge digital technology projects; synergies between InvestUE and certain other EU programmes such as Horizon Europe and Creative Europe should thus be encouraged;
Amendment 24 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium- sized enterprises ('SMEs') and the need to address key societal challenges such as sustainability, growing inequality or population ageing. Consequently, continued support is necessary to address market failures and sub-optimal investment situations to reduce the investment gap in targeted sectors to achieve the Union's policy objectives.
Amendment 24 #
Proposal for a regulation Recital 5 a (new) (5 a) The InvestEU instrument aims at financing economic, cultural and social actors with a risk profile that private financiers are not to address in more conventional portfolios; it aims at opening up a new understanding from financial intermediaries in underlining the immense potential of those actors in terms of innovation and social development.
Amendment 25 #
Proposal for a regulation Recital 2 (2) Evaluations have underlined that the variety of financial instruments delivered under the 2014-2020 Multiannual Financial Framework period has led to some overlaps. That variety has also produced complexity for intermediaries and final recipients who were confronted with different eligibility and reporting rules, thus acting as a further disincentive for investments. Absence of compatible rules also hampered the combination of several Union funds although such combination would have been beneficial to support projects in need of different types of funding. Therefore, a single fund, the InvestEU Fund, should be set up in order to achieve a more efficiently functioning support to final recipients by integrating and simplifying the financial offer under a single budgetary guarantee scheme, thereby improving the impact of Union intervention while reducing the cost to the Union budget.
Amendment 25 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster growth, investment and employment,
Amendment 26 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has
Amendment 26 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster growth
Amendment 27 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable growth and jobs, such as the Capital Markets Union, the Digital Single Market Strategy, the Clean Energy for all Europeans package, the Union Action Plan for the Circular Economy, the Low- Emission Mobility Strategy
Amendment 27 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets, including cultural heritage, to foster growth, investment and employment, and thereby contributing to improved well- being and fairer income distribution in the Union. Intervention through the InvestEU Fund should complement Union support delivered through grants.
Amendment 28 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of sustainable infrastructure, innovation and digitisation, the sustainability of the Union's economic growth, the social resilience and inclusiveness and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners. It should be demand-driven while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union.
Amendment 28 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster growth, investment
Amendment 29 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster growth, investment and employment, and thereby contributing to improved well-being and fairer income distribution in the Union. Intervention through the InvestEU Fund should complement, whenever necessary, Union support delivered through grants.
Amendment 29 #
Proposal for a regulation Recital 9 a (new) (9a) Climate actions should also take into account the regional restructuring and workforce retraining needs associated with measures which have a major environmental impact and should support projects and companies which address those needs.
Amendment 30 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster growth, investment and employment, and thereby contributing to improved well-being, the combating of poverty and fairer income distribution in the Union. Intervention through the InvestEU Fund should complement Union support delivered through grants.
Amendment 30 #
Proposal for a regulation Recital 11 (11) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include air, soil and water pollution, extreme weather events, biodiversity losses and failures of climate-change mitigation and adaptation. Environmental principles are strongly embedded in the Treaties and many of the Union's policies. Therefore, the mainstreaming of environmental objectives should be promoted in the InvestEU Fund related operations. Environmental protection, education and training to assess one's own environmental impacts and related risk prevention and management should be integrated in the preparation and implementation of investments. The EU should also track its biodiversity-related and air pollution control-related expenditure in order to fulfil the reporting obligations under the Convention on Biological Diversity and Directive (EU) 2016/2284 of the European Parliament and of the Council15 Investment allocated to environmentally sustainability objectives should therefore be tracked using common methodologies coherent with that developed under other Union programmes applying to climate, biodiversity and air pollution management in order to allow assessing the individual and combined impact of investments on the key components of the natural capital, including air, water, land and biodiversity. _________________ 15 Directive (EU) 2016/2284 of the European Parliament and of the Council of 14 December 2016 on the reduction of national emissions of certain atmospheric pollutants, amending Directive 2003/35/EC and repealing Directive 2001/81/EC (OJ L 344, 17.12.2016, p. 1).
Amendment 31 #
Proposal for a regulation Recital 6 a (new) (6 a) Appeal to create a Just Transition Fund with the aim to support workers and communities adversely affected by transitions in the work place; in this respect calls on the Commission to set up a financing platform at Union level for this initiative; further more stresses that under this fund sufficient resources should be ensured for creation of decent and sustainable jobs, together with re- skilling and up-skilling in clean processes and technologies, as well as enhancing social protection schemes, including active labour market policies;
Amendment 31 #
Proposal for a regulation Recital 12 a (new) (12a) Cultural heritage is of great value to European society from a cultural, environmental, social and economic point of view, and thus its sustainable management constitutes a strategic choice for the 21st century, as stressed by the Council in its conclusions of 21 May 201415 a. Nevertheless the contribution of cultural heritage in terms of value creation, skills and jobs, and quality of living is underestimated; _________________ 15 a Council conclusions of 21 May 2014 on cultural heritage as a strategic resource for a sustainable Europe (OJ C 183, 14.6.2014, p. 36).
Amendment 32 #
Proposal for a regulation Recital 7 (7) The Union endorsed the objectives set out in the United Nations Agenda 2030 and its Sustainable Development Goals and the Paris Agreement in 2015 as well as the Sendai Framework for Disaster Risk Reduction 2015-2030. To achieve the agreed objectives, including those embedded in the environmental policies of the Union, action pursuing sustainable development is to be stepped up significantly. Therefore, the principles of sustainable development
Amendment 32 #
Proposal for a regulation Recital 12 b (new) (12b) Hence the European Year of Cultural Heritage contributes to enhancing and disseminating the contribution of European cultural heritage to society and the economy through its direct and indirect economic potential. This includes the capacity to underpin the cultural and creative sectors, including small and medium-sized enterprises and inspire creation and innovation, promote sustainable development and sustainable tourism, enhance social cohesion and generate long-term employment;
Amendment 33 #
Proposal for a regulation Recital 9 (9) Reflecting the importance of tackling climate change in line with the Union's climate related long-term objective and remaining carbon budget, 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 achievement of an overall target of
Amendment 33 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure are fundamental to meet the Union's sustainability targets, including the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy, environmental, climate action, maritime and digital infrastructure. To maximise the impact and the value added of Union financing support, it is appropriate to promote a streamlined investment process enabling visibility of the project pipeline and consistency across relevant Union programmes. Bearing in mind security threats, investment projects receiving Union support should take into account principles for the protection of citizens in public spaces, as well as places where large crowds gather, such as stadiums, educational institutions, museums and monuments. This should be complementary to the efforts made by other Union funds such as the European Regional Development Fund providing support for security components of investments in public spaces, transport, energy and other critical infrastructure.
Amendment 34 #
Proposal for a regulation 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 achievement of an overall target of 25 % of the Union budget expenditures supporting climate objectives. Actions under the InvestEU Programme are expected to contribute 30 % of the overall financial envelope of the InvestEU Programme to climate objectives. Therefore the eligibility criteria for actions under InvestEU Programme shall be that the funding contributes to the climate change targets. 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 34 #
Proposal for a regulation Recital 13 a (new) (13a) In that regard, the austerity policies introduced and imposed by the EU contributed to the fall-off in public investment and in overall investment, i.e. including private investment.
Amendment 35 #
Proposal for a regulation 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 achievement of an overall target of 25 % of the Union budget expenditures supporting climate objectives. Actions under the InvestEU Programme are expected to contribute
Amendment 35 #
Proposal for a regulation Recital 14 (14) Whereas the level of overall investment in the Union is
Amendment 36 #
Proposal for a regulation Recital 10 (10) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through an EU climate tracking system developed by the Commission in cooperation with implementing partners and using in an appropriate way the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment14 ] for determining whether an economic activity is environmentally sustainable. The InvestEU Fund will also contribute to implementing the Sustainable Development Goals (SDGs) into EU policies and initiatives, with sustainable development as an essential guiding principle _________________ 14 COM(2018)353.
Amendment 36 #
Proposal for a regulation Recital 14 (14) Whereas the level of overall investment in the Union is increasing, investment in higher-risk activities such as research and innovation, in particular in the case of innovative business ideas relating to rapidly growing sectors of the economy, such as the cultural and creative industries, is still inadequate. The resulting underinvestment and difficulties in accessing financial mechanisms in research and innovation
Amendment 37 #
Proposal for a regulation Recital 12 (12) Investment projects receiving substantial Union support, notably in the area of infrastructure, should be subject to an assessment of their European added value, particuarly including their sustainability
Amendment 37 #
Proposal for a regulation Recital 14 (14) Whereas the level of overall investment in the Union is increasing, investment in higher-risk activities such as research and innovation, in particular with regards to risk capital of innovative and creative SMEs and organisations is still inadequate. The resulting underinvestment in research and innovation is damaging to the industrial and economic competitiveness of the Union and the quality of life of its citizens. The InvestEU Fund should provide the
Amendment 38 #
Proposal for a regulation Recital 12 (12) Investment projects receiving substantial Union support, notably in the area of infrastructure, should be subject to sustainability and climate targets´ 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 38 #
Proposal for a regulation Recital 14 (14) Whereas the level of overall investment in the Union is increasing, investment in higher-risk activities such as research and innovation is still inadequate. The resulting underinvestment in research and innovation, in particular in cultural and creative industries which are highly contributing to innovation, is damaging to the industrial and economic competitiveness of the Union and the quality of life of its citizens. The InvestEU Fund should provide the appropriate financial products to cover different stages in the innovation cycle and a wide range of stakeholders, in particular to allow the upscaling of and deployment of solutions at a commercial scale in the Union, in order to make such solutions sustainable and competitive on world markets.
Amendment 39 #
Proposal for a regulation Recital 12 (12) Investment projects receiving
Amendment 39 #
Proposal for a regulation Recital 14 (14) Whereas the level of overall investment in the Union is increasing, investment in higher-risk activities such as research
Amendment 40 #
Proposal for a regulation Recital 12 a (new) (12 a) The InvestEU Programme should integrate the gender perspective in all its working and decision making processes, make sure that committees and projects teams are gender balanced and ensure that the implementation of this fund contributes to the promotion of gender equality in compliance with EU gender mainstreaming obligations (article 8 TFEU).
Amendment 40 #
Proposal for a regulation Recital 14 (14) Whereas the level of overall investment in the Union is increasing, investment in higher-risk activities such as research
Amendment 41 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure, particularly missing interconnections joining up networks across borders are fundamental to meet the Union's efficiency and sustainability targets, including the Union’s commitments towards the SDGs, and the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy, environmental, climate action, maritime and digital infrastructure. To maximise the impact and the value added of Union financing support, it is appropriate to promote a streamlined, climate-proof investment process enabling visibility of the project pipeline and consistency across relevant Union programmes.
Amendment 41 #
Proposal for a regulation Recital 15 (15) A significant effort is urgently needed to invest in digital transformation
Amendment 42 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure are fundamental to meet the Union's goals to create a Single European Transport Area, as well as sustainability targets, including the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy, environmental, climate action, maritime and digital infrastructure, supporting e.g. development and deployment of Intelligent Transport Systems (ITS). To maximise the impact and the value added of Union financing support, it is appropriate to promote a streamlined investment process enabling visibility of the project pipeline and enhancing synergies and consistency across relevant Union programmes in the areas of digital, energy and transport. Bearing in mind security threats, investment projects receiving Union support should take into account principles for the protection of citizens in public spaces. This should be complementary to the efforts made by other Union funds such as the European Regional Development Fund providing support for security components of investments in public spaces, transport, energy and other critical infrastructure.
Amendment 42 #
Proposal for a regulation Recital 15 (15) A significant effort is urgently needed to invest in
Amendment 43 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure are fundamental to meet the Union's sustainability targets, including the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy, environmental, climate action, maritime and digital infrastructure. To maximise the impact and the value added of Union financing support, it is appropriate to promote a streamlined investment process enabling visibility of the project pipeline and consistency across relevant Union programmes, including those relating to transport, tourism and digitisation. Bearing in mind security threats, investment projects receiving Union support should take into account principles for the protection of citizens in public spaces. This should be complementary to the efforts made by other Union funds such as the European Regional Development Fund providing support for security components of investments in public spaces, transport, energy and other critical infrastructure.
Amendment 43 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) play a crucial role in the Union. However, particularly in certain key technological sectors, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs' need to stay competitive by engaging in digitisation, internationalisation and innovation activities and skilling up their workforce. Moreover, compared to larger enterprises, they have access to a more limited set of financing sources: they typically do not issue bonds, have only limited access to stock exchanges or large institutional investors. The challenge in accessing finance is even greater for those SMEs whose activities focus on intangible assets. SMEs in the Union rely heavily on banks and debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges and providing more diversified sources of funding is necessary for increasing the ability of SMEs to finance their creation, growth and development, withstand economic downturns, and for making the economy and the financial system more resilient during economic downturn or shocks. This is also complementary to the initiatives already undertaken in the context of the Capital Markets Union. The InvestEU Fund should provide an opportunity to focus on specific, more targeted financial products. However, the instruments, especially loan guarantees, provided for micro enterprises and SMEs must effectively target those companies that genuinely find it hard to obtain private-market financing, particularly from banks. It is regrettable, in this regard, that in its 2017 special report on EU-funded loan guarantee instruments, covering COSME and InnovFin, the Court of Auditors had to conclude, on the basis of a sample selection of loans, that 'only 40% of [them] were provided to businesses that would otherwise have struggled to obtain financing from a commercial lender'. The Court added that 'This level is not significantly different from the 43% we found in our previous audit of the SME Guarantee Facility.' It should be remembered that loan guarantees are there to offset market failures and that the instruments the EU deploys should, therefore, be designed so as not merely to generate a deadweight effect.
Amendment 44 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure are fundamental to meet the Union's sustainability targets, including the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into t
Amendment 44 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs), in particular those in the cultural and creative sector, play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs' need to stay competitive by engaging in digitisation, internationalisation and innovation activities and skilling up their workforce. Moreover, compared to larger enterprises, they have access to a more limited set of financing sources: they typically do not issue bonds, have only limited access to stock exchanges or large institutional investors. The challenge in accessing finance is even greater for those SMEs whose activities focus on intangible assets. SMEs in the Union rely heavily on banks and debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges and providing more diversified sources of funding is necessary for increasing the ability of SMEs to finance their creation, growth and development, withstand economic downturns, and for making the economy and the financial system more resilient during economic downturn or shocks. This is also complementary to the initiatives already undertaken in the context of the Capital Markets Union. The InvestEU Fund should provide an opportunity to focus on specific, more targeted financial products.
Amendment 45 #
Proposal for a regulation Recital 13 a (new) (13a) whereas the safety of road users is a huge challenge in the development of the transport sector, and the action being taken and investments being made are only helping to reduce the number of people dying or sustaining serious injuries on the roads to a limited extent; whereas the InvestEU programme should help to boost efforts to design and apply technologies that help to improve the safety of vehicles and road infrastructure;
Amendment 45 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs' need to stay competitive by engaging in digitisation, internationalisation and innovation activities and skilling up their workforce. Moreover, compared to larger enterprises, they have access to a more limited set of financing sources: they typically do not issue bonds, have only limited access to stock exchanges or large institutional investors. The challenge in accessing finance is even greater for those SMEs whose activities focus on intangible assets, in particular the cultural and creative sectors. SMEs in the Union rely heavily on banks and debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges and providing more diversified sources of funding is necessary for increasing the ability of SMEs to finance their creation, growth and development, withstand economic downturns, and for making the economy and the financial system more resilient during economic downturn or shocks. This is also complementary to the initiatives already undertaken in the context of the Capital Markets Union. The InvestEU Fund should provide an opportunity to focus on specific, more targeted financial products.
Amendment 46 #
Proposal for a regulation Recital 13 b (new) (13 b) whereas real multimodality is an opportunity to create an efficient and environmentally friendly transport network that uses the maximum potential of all means of transport and generates synergy between them; whereas the InvestEU programme could become an important tool for supporting investment in multimodal transport hubs, which - in spite of their significant economic potential and business case - carry a significant risk for private investors;
Amendment 46 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs' need to stay competitive by engaging in digitisation, internationalisation and innovation activities and skilling up their workforce. Moreover, compared to larger enterprises, they have access to a more limited set of financing sources: they typically do not issue bonds, have only limited access to stock exchanges or large institutional investors. The challenge in accessing finance is even greater for those SMEs whose activities focus on intangible assets, such as intellectual property rights. SMEs in the Union rely heavily on banks and debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges and providing more diversified sources of funding is necessary for increasing the ability of SMEs to finance their creation, growth and development, withstand economic downturns, and for making the economy and the financial system more resilient during economic downturn or shocks. This is also complementary to the initiatives already undertaken in the context of the Capital Markets Union. The InvestEU Fund should provide an opportunity to focus on specific, more targeted financial products.
Amendment 47 #
Proposal for a regulation Recital 15 (15) A significant effort is urgently needed to invest in digital transformation, including objective societal and ethical analysis, and to distribute the benefits of it non-discriminatory to all Union citizens and businesses. The strong policy framework of the Digital Single Market Strategy should now be matched by investment of a similar ambition, including in artificial intelligence.
Amendment 47 #
Proposal for a regulation Recital 16 a (new) (16a) The SME support instruments, particularly the loan guarantees, must be subject to criteria, including financial ceilings, whereby those SMEs with genuine financing problems can be selected. In the above-mentioned report, the Court of Auditors noted, in this regard, that 'One intermediary of the Loan Guarantee Facility [...] bypassed the ceiling on several occasions by guaranteeing multiple loans to a single company on the same date.' Care must therefore be taken to ensure strict observance of the conditions laid down to guarantee that the EU instruments genuinely benefit companies 'at risk'.
Amendment 48 #
Proposal for a regulation Recital 15 a (new) (15a) Since digitalisation concerns tourism, this sector too should receive targeted support under the InvestEU Fund.
Amendment 48 #
Proposal for a regulation Recital 16 a (new) (16a) Cultural and creative industries (CCIs) have a dual and intrinsic value since, through their direct links to artists and creators, they preserve and promote cultural and linguistic diversity, and strengthen European, national, regional and local identities, while sustaining social cohesion and contributing substantially, with various value creation models, to creativity, investment, innovation and employment and acting as a driver of sustainable economic growth in the EU and its Member States;
Amendment 49 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk
Amendment 49 #
Proposal for a regulation Recital 16 b (new) (16b) Employment in the cultural sector is unlikely to be offshored, as it is connected to specific cultural, often regional and historical competences. Moreover, CCIs contribute significantly and more than any other sector to youth employment and have proved to be most resilient during the post-2008 economic crisis. Employment in CCIs in fact rose throughout the EU between 2008 and 2014.
Amendment 50 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17 and the EU framework on the EU Convention on the Rights of Persons with Disabilities, building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training and health. Investment in the social, skills and human capital- related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. The InvestEU Fund should be used to support investment in education and training, help increase employment, in particular among the unskilled and long- term unemployed, and improve the situation with regard to gender equality, equal opportunities, intergenerational solidarity, the health sector, homelessness, digital inclusiveness, community development, the role and place of young people in society as well as vulnerable people, including third country nationals. The InvestEU Programme should also contribute to the support of European culture and creativity. To counter the profound transformations of societies in the Union and of the labour market in the coming decade, it is necessary to invest in human
Amendment 50 #
Proposal for a regulation Recital 16 b (new) (16b) The SME financing support instruments, particularly the loan guarantees, must also take into account the economic viability of the projects which SMEs are carrying out.
Amendment 51 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17 , building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training and health. Investment in the social, skills and human capital-related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. The InvestEU Fund should be used to support investment in education and training, help increase employment, in particular among the unskilled and long-term unemployed, and improve the situation with regard to intergenerational solidarity, the health sector, homelessness, digital inclusiveness, community development, the role and place of young people in society as well as vulnerable people, including third country nationals. The InvestEU Programme should also contribute to the support of European culture, tourism, digitised transport and creativity. To counter the profound transformations of societies in the Union and of the labour market in the coming decade, it is necessary to invest in human capital, microfinance, social enterprise finance and new social economy business models, including social impact investment and social outcomes contracting. The InvestEU Programme should strengthen nascent social market eco-system, increasing the supply of and access to finance to micro- and social enterprises, to meet the demand of those who need it the most. The report of the High-Level Task-Force on Investing in Social Infrastructure in Europe18 has identified investment gaps in social infrastructure and services, including for education, training, health and housing, which call for support, including at the Union level. Therefore, the collective power of public, commercial and philanthropic capital, as well as support from foundations, should be harnessed to support the social market value chain development and a more resilient Union.
Amendment 51 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17 , building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training and health. Investment in the social, skills and human capital- related economy, as well as in the integration of vulnerable populations in the society and support for the younger generation, can enhance economic opportunities, especially if coordinated at Union level. The InvestEU Fund should be used to support investment in education and training, help increase employment, in particular among the unskilled and long- term unemployed, and improve the situation with regard to intergenerational solidarity, the health sector, homelessness, digital inclusiveness, community development, the role and place of young people in society, especially those not in education, employment or training (NEETs), as well as vulnerable people, including third country nationals. The InvestEU Programme should also contribute to the support of European culture and creativity as well as grassroots sport that is a lever for social and economic development. To counter the profound transformations of societies in the Union and of the labour market in the coming decade, it is necessary to invest in human capital, microfinance
Amendment 52 #
Proposal for a regulation Recital 17 (
Amendment 52 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper
Amendment 53 #
Proposal for a regulation 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, particularly in the case of cross-border projects, 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 53 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17 , building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training and health. Investment in the social, skills and human capital- related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. The InvestEU Fund should be used to support investment in education and training, help increase employment, in particular among the unskilled and long- term unemployed, and improve the situation with regard to intergenerational solidarity, the health sector, homelessness, digital inclusiveness, community development, gender equality, the role and place of young people in society as well as vulnerable people, including third country nationals. The InvestEU Programme should also contribute to the support of
Amendment 54 #
Proposal for a regulation Recital 21 (21) The InvestEU Fund should be open to contributions from third countries that are members of the European Free Trade Association, acceding countries, candidates and potential candidates, countries covered by the Neighbourhood policy and other countries, in accordance with the conditions laid down between the Union and those countries. Cooperation and support should be provided to decrease dependence on fossil fuels and increase access to affordable renewable energy, as well as to support access to science, technology and innovation in line with the SDGs. This should allow continuing cooperating with the relevant countries, where appropriate, in particular in the fields of research and innovation as well as SMEs.
Amendment 54 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17 , building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training and health. Investment in the social, skills and human capital- related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. The InvestEU Fund should be used to support investment in education and training, as well as in maintenance and modernisation of educational facilities, including seismic retrofit and the elimination of architectural barriers, help increase employment, in particular among the unskilled and long-
Amendment 55 #
Proposal for a regulation Recital 21 a (new) (21a) The Fund should focus on cross- border projects specifically to encourage exchanges and lend European added value.
Amendment 55 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17 , building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education and culture, training and health. Investment in the social, cultural,skills and human capital-
Amendment 56 #
Proposal for a regulation 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. 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 but without generating an excessive administrative burden.
Amendment 56 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17 , building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training
Amendment 57 #
Proposal for a regulation 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. 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
Amendment 57 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17, building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training, culture and health. Investment in the social, skills and human capital-related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. The InvestEU Fund should be used to support investment in education and training, help increase employment, in particular among the unskilled and long-term unemployed, and improve the situation with regard to intergenerational solidarity, the health sector, homelessness, digital inclusiveness, community development, the role and place of young people in society as well as vulnerable people, including third country nationals. The InvestEU Programme should also contribute to the support of European culture and creativity. To counter the profound transformations of societies in the Union and of the labour market in the coming decade, it is necessary to invest in human capital, microfinance, social enterprise finance and new social economy business models, including social impact investment and social outcomes contracting. The InvestEU Programme should strengthen the nascent social market eco-system, increasing the supply of and access to finance to micro- and social enterprises, to meet the demand of those who need it the most. The report of the High-Level Task-Force on Investing in Social Infrastructure in Europe18 has identified investment gaps in social infrastructure and services, including for education, training, health and housing, which call for support, including at the Union level. Therefore, the collective power of public, commercial and philanthropic capital, as well as support from foundations, should be harnessed to support the social market value chain development and a more resilient Union. _________________ 16 COM(2017) 206 final. 17 COM(2017) 250 final. 18 Published as European Economy Discussion Paper 074 in January 2018.
Amendment 58 #
Proposal for a regulation Recital 28 (28) An Investment Committee composed of independent experts should conclude on the granting of the support from the EU guarantee to financing and investment operations fulfilling the eligibility criteria, thereby providing external expertise in investment assessments in relation to projects. The Investment Committee should have different configurations to best cover different policy areas and sectors, however always containing experts that have up to date knowledge on the transition to a low carbon economy. The Committee should also contain a representative from a civil society organisation.
Amendment 58 #
Proposal for a regulation Recital 18 (18) The InvestEU Fund should operate under four policy windows, mirroring the key Union policy priorities, namely sustainable infrastructure; research, innovation, culture and digitisation: SMEs; and social investment and skills.
Amendment 59 #
Proposal for a regulation Recital 30 (30) In order to ensure that interventions under the EU compartment of the InvestEU Fund focus on market failures and sub- optimal investment situations at Union level, but, at the same time, satisfy the objectives of best possible geographic outreach, the EU guarantee should be allocated to implementing partners, which alone or together with other implementing partners, can cover at least t
Amendment 59 #
Proposal for a regulation 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
Amendment 60 #
Proposal for a regulation Recital 33 (33) The InvestEU Fund should, where appropriate, allow for a smooth and efficient blending of grants or financial instruments, or both, funded by the Union budget or
Amendment 60 #
Proposal for a regulation Recital 21 (21) The InvestEU Fund should be open to contributions from third countries that are members of the European Free Trade Association
Amendment 61 #
Proposal for a regulation Recital 35 (35) The InvestEU Advisory Hub should support the development of a robust pipeline of investment projects in each policy window providing for effective implementation of geographic diversification contributing to the Union objective of economic, social, and territorial cohesion and reducing regional disparities. The Advisory Hub should pay particular attention to smaller, cross- border and EU value-added projects. In addition, a cross-
Amendment 61 #
Proposal for a regulation Recital 25 (25) An Advisory Board consisting of representatives of the implementing partners and of representatives of Member States should be established and should meet at regular intervals in order to exchange information and for exchanges on the take-up of the financial products deployed under the InvestEU Fund and to discuss on evolving needs and new products, including specific territorial market gaps.
Amendment 62 #
Proposal for a regulation Recital 36 (36) In order to ensure a wide and fair geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the InvestEU Fund, a local presence of the InvestEU Advisory Hub should be ensured,
Amendment 62 #
Proposal for a regulation Recital 26 (26) The Commission should assess the compatibility of investment and financing operations submitted by the implementing partners with Union law
Amendment 63 #
Proposal for a regulation Recital 36 (36) In order to ensure a wide geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the InvestEU Fund, a local presence of the InvestEU Advisory Hub should be ensured
Amendment 63 #
Proposal for a regulation Recital 33 (33) The InvestEU Fund should, where appropriate, allow for a smooth and efficient blending of grants or financial instruments, or both, funded by the Union budget or by the EU Emissions Trading System (ETS) Innovation Fund with that guarantee in situations where this is necessary to best underpin investments to address particular market failures or sub- optimal investment situations. It could be complementary to projects selected in other European programmes, corresponding to these objectives, such as Erasmus and Creative Europe.
Amendment 64 #
Proposal for a regulation Recital 37 (37) In the context of the InvestEU Fund, there is a need for capacity building support to develop the organisational capacities and market making activities needed to originate quality projects, particularly in less developed countries. Moreover, the aim is to create the conditions for the expansion of the potential number of eligible recipients in nascent market segments, in particular where the small size of individual projects raises considerably the transaction cost at the project level, such as for the social finance ecosystem. The capacity building support should therefore be complementary and additional to actions undertaken under other Union programmes that cover a specific policy area.
Amendment 64 #
Proposal for a regulation Recital 38 (38) The InvestEU Portal should be established to provide for an easily accessible
Amendment 65 #
Proposal for a regulation Recital 41 (41) Horizontal financial rules adopted by the European Parliament and the Council on the basis of Article 322 of the Treaty on the Functioning of the European Union apply to this Regulation. These rules are laid down in the Financial Regulation and determine in particular the procedure for establishing and implementing the budget through grants, procurement, prizes, indirect implementation, and provide for checks on the responsibility of financial actors.
Amendment 65 #
Proposal for a regulation Recital 40 (40) A solid monitoring framework, based on output, outcome and impact indicators should be implemented to track progress towards the Union's objectives. In order to ensure accountability to European citizens, the Commission should report annually to the European Parliament and the Council on the progress, impact and operations of the InvestEU Programme, and should publish annual reports on the programme's achievements, while strictly observing confidentiality requirements if applicable.
Amendment 66 #
Proposal for a regulation Recital 44 (44) Third countries, especially frontrunner Western-Balkan candidate states, which are members of the European Economic Area (EEA) may participate in Union programmes in the framework of the cooperation established under the EEA agreement, which provides for the implementation of the programmes by a decision under that agreement. Third countries may also participate on the basis of other legal instruments. A specific provision should be introduced in this Regulation to grant the necessary rights for and access to the authorising officer responsible, the European Anti-Fraud Office (OLAF) as well as the European Court of Auditors to comprehensively exert their respective competences.
Amendment 66 #
Proposal for a regulation Article premier – paragraph 1 This Regulation establishes the InvestEU Fund providing for an EU guarantee for financing and investment operations carried out by the implementing partners in
Amendment 67 #
Proposal for a regulation Recital 47 (47) The InvestEU Programme should address EU-wide market shortcomings and failures and sub-
Amendment 67 #
Proposal for a regulation Article 3 – paragraph 1 – point a (a) the competitiveness of the Union, including innovation
Amendment 68 #
Proposal for a regulation Article premier – paragraph 1 This Regulation establishes the InvestEU Fund providing for an EU guarantee for financing and investment operations carried out by the implementing partners in support of the Union’s internal policies and sets the terms governing relations with the various partners, under the scope of this Regulation.
Amendment 68 #
Proposal for a regulation Article 3 – paragraph 1 – point a (a) the competitiveness of the Union, including innovation
Amendment 69 #
Proposal for a regulation Article 3 – paragraph 1 – point a (a) the competitiveness of the Union, including innovation
Amendment 69 #
Proposal for a regulation Article 3 – paragraph 1 – point c (c) the social resilience and inclusiveness of the Union, including strengthening human skills and capabilities as key enablers of economic, cultural and social development with particular focus on young people and on equal opportunities;
Amendment 70 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) the sustainability of the Union economy and its growth, including climate change mitigation and adaptation;
Amendment 70 #
Proposal for a regulation Article 3 – paragraph 1 – point c (c)
Amendment 71 #
Proposal for a regulation Article 3 – paragraph 1 – point c (c) the social resilience
Amendment 71 #
Proposal for a regulation Article 3 – paragraph 1 – point c (c) the social resilience and inclusiveness of the Union; particular emphasis should be placed on combating unemployment and developing skills, in particular among young people;
Amendment 72 #
Proposal for a regulation Article 3 – paragraph 1 – point d (d) the integration of the Union capital markets and the strengthening of the Single Market, including solutions addressing the fragmentation of the Union capital markets, diversifying sources of financing for Union enterprises, in particular SMEs and start-ups, and promoting sustainable finance.
Amendment 72 #
Proposal for a regulation Article 3 – paragraph 1 – point d (d) the
Amendment 73 #
Proposal for a regulation Article 3 – paragraph 1 – point d a (new) (d a) to scale up investments into the mitigation of climate change by reserving at least 35% of the financial envelope to the EUs climate objectives
Amendment 73 #
Proposal for a regulation Article 3 – paragraph 2 – point b (b) to support financing and investment operations in research, innovation and digitisation for economic actors with an atypical profile for financial markets;
Amendment 74 #
Proposal for a regulation Article 3 – paragraph 1 – point d a (new) (d a) contribute to achieving the Union's climate objectives, as well as delivering long-term environmental and societal benefits
Amendment 74 #
Proposal for a regulation Article 3 – paragraph 2 – point b (b) to support financing and investment operations in education, research, innovation and digitisation;
Amendment 75 #
Proposal for a regulation Article 3 – paragraph 1 a (new) 1 a. In general, financial support via EUInvest shall heed to the principle that no matter through which public and private financial construct, the distribution of profits and losses needs to be balanced in such a way that public budgets shall take advantage of profits that cannot wholly be privatised, whilst private equity can not rely exclusively on the losses being borne by public budgets
Amendment 75 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) to increase
Amendment 76 #
Proposal for a regulation Article 3 – paragraph 2 – point d Amendment 76 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) to increase the access to and the availability of finance for SMEs and, in duly justified cases, for small mid-cap companies, in particular in the cultural and creative sector;
Amendment 77 #
Proposal for a regulation Article 3 – paragraph 2 – point d a (new) (da) facilitate access to microfinancing and financing for social enterprises; support financing and investment operations relating to social investment and skills and develop and consolidate social investment markets in the sectors referred to in point (d) of Article 7(1);
Amendment 77 #
Proposal for a regulation Article 3 – paragraph 2 – point d (d) to increase the access to and the availability of microfinance and finance to social enterprises,
Amendment 78 #
Proposal for a regulation Article 3 – paragraph 2 – point d a (new) (d a) to increase investment in climate mitigation and adaptation and environmental projects in points (a) and (d) and to make sure that at least 60% of the InvestEU Fund is used for climate mainstreaming.
Amendment 78 #
Proposal for a regulation Article 3 – paragraph 2 – point d (d) to increase the access to and the availability of microfinance and finance to social enterprises, educational institutions and organisations in the Cultural and Creative Sector (CCS) support financing and investment operations related to social investment
Amendment 79 #
Proposal for a regulation Article 3 – paragraph 2 – point d b (new) (db) support investments in tangible and intangible assets to foster growth and cohesion, investment and employment;
Amendment 79 #
Proposal for a regulation Article 3 – paragraph 2 – point d (d) to increase the access to and the availability of microfinance and finance to social enterprises, cultural and creative industries, educational institutions, support financing and investment operations related to social investment, abilities and skills, and develop and consolidate social investment markets, in the areas referred to in point (d) of Article 7(1).
Amendment 80 #
Proposal for a regulation Article 3 – paragraph 2 – point d c (new) (dc) enhance well-being in the EU by reducing poverty and facilitating fairer income distribution;
Amendment 80 #
Proposal for a regulation Article 3 – paragraph 2 a (new) 2a. In pursuing the specific objectives referred to in paragraph 2, the InvestEU Programme shall support financing and investment operations in the cultural, creative and audiovisual sectors referred to in point 8 of Annex II as a cross- cutting objective in close synergy with the provisions in the Regulation establishing the Creative Europe programme (2021- 2027).
Amendment 81 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 1 The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR 38 000 000 000 (current prices). It shall be provisioned at the rate of 40 %, that is to say EUR 15 200 000 000 (current prices).
Amendment 81 #
Proposal for a regulation Article 5 – paragraph 1 – point b Amendment 82 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 2 An additional amount of the EU guarantee may be provided for the purposes of the Member State compartment referred to in point (b) of Article 8(1), subject to the allocation by the national or regional authorities of the Member States, pursuant to [Article 10(1)] of Regulation [[CPR] number]28 and Article [75(1)] of Regulation [[CAP plan] number]29 , of the corresponding amounts. _________________ 28 . 29 .
Amendment 82 #
Proposal for a regulation Article 5 – paragraph 1 – point c Amendment 83 #
Proposal for a regulation Article 4 – paragraph 2 2. The indicative distribution of the amount referred to in the first subparagraph of paragraph 1 is set out in Annex I to this Regulation. The Commission may modify the amounts referred to in that Annex I, where appropriate, by up to
Amendment 83 #
Proposal for a regulation Article 5 – paragraph 1 – point d – point iv a (new) (iva) is subject to the principle of reciprocity in respect of EU Member States' participation in similar programmes;
Amendment 84 #
Proposal for a regulation Article 4 – paragraph 2 a (new) 2a. In the event that new provisions should prove necessary, these shall be deducted from the margins of the EU's annual budget or the from the Flexibility Instrument, but under no circumstances from budget lines or funds that have already been allocated.
Amendment 84 #
Proposal for a regulation Article 5 – paragraph 1 – point d – point iv b (new) (ivb) includes satisfactory conditions particularly on the confidentiality of strategic information in the country in question;
Amendment 85 #
Proposal for a regulation Article 4 – paragraph 4 4. The amount referred to in paragraph 3 may also be used for technical and administrative assistance for the implementation of the InvestEU Programme, such as information, training, preparatory, monitoring, control, audit and evaluation activities including corporate information technology systems.
Amendment 85 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, digital connectivity, especially in relation to broadband access in rural areas, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 86 #
Proposal for a regulation Article 5 – paragraph 1 – point b (b) acceding countries
Amendment 86 #
Proposal for a regulation Article 7 – paragraph 1 – point α (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, digital connectivity, education, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, the cultural heritage, sport, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 87 #
Proposal for a regulation Article 5 – paragraph 1 – point d – point i (i) ensures a fair balance and regular monitoring as regards the contributions and benefits of the third country participating in the Union programmes;
Amendment 87 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, digital connectivity, culture, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 88 #
Proposal for a regulation Article 5 – paragraph 1 – point d – point iv (iv) guarantees the rights of the Union to ensure sound financial management and to protect its financial interests; The Union thus reserves the right to exclude from the programme a third country which does not comply with the rules on its contributions in accordance with the conditions for fair balance and regular monitoring laid down in Article 5(1)(d).
Amendment 88 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative companies other than SMEs as well as digitisation of Union industry and capacity building in the cultural and creative industries;
Amendment 89 #
Proposal for a regulation Article 6 – paragraph 2 – point b (b) comply with th
Amendment 89 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative companies other than SMEs as well as digitisation of
Amendment 90 #
Proposal for a regulation Article 7 – paragraph 1 – introductory part 1. The InvestEU Fund shall operate through the following four policy windows that shall address market failures or sub- optimal investment situations, especially in outermost regions, within their specific scope:
Amendment 90 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation, culture and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative companies other than SMEs as well as digitisation of Union industry, taking into consideration the cultural dimension;
Amendment 91 #
Proposal for a regulation Article 7 – paragraph 1 – introductory part 1. The InvestEU Fund shall operate through the following f
Amendment 91 #
Proposal for a regulation Article 7 – paragraph 1 – point γ (c) SMEs policy window: access to and availability of finance for SMEs and, in duly justified cases, for small mid-cap companies, for start-ups and businesses set up by young people;
Amendment 92 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of zero-emission sustainable transport, energy, digital connectivity, supply and processing of raw materials, space, oceans and inland water, waste, nature and other environment infrastructure,
Amendment 92 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) SMEs policy window: access to and availability of finance for SMEs affected by failures of the private financing market and, in duly justified cases, for small mid- cap companies;
Amendment 93 #
Proposal for a regulation Article 7 – paragraph 1 – introductory part 1. The InvestEU Fund shall operate through the following four policy windows that shall address market shortcomings or failures or sub-
Amendment 93 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) SMEs policy window: access to and availability of finance for SMEs and, in duly justified cases, for small mid-cap companies, particularly in the cultural and creative sector;
Amendment 94 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy with a focus on renewable energy-sources and energy-efficiency, digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 94 #
Proposal for a regulation Article 7 – paragraph 1 – point δ (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural and sports activities with a social goal; actions relating to young people, especially those not in education, employment or training; integration of vulnerable people, including third country nationals.
Amendment 95 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, with a focus on renewable energy-sources and energy-efficiency, digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 95 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities with a social goal; cultural and creative SMEs and organisations with intercultural dialogue and cohesion goals as well as integration of vulnerable people, including third country nationals.
Amendment 96 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment
Amendment 96 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities with a social goal; cultural and creative industries (CCIs) with intercultural dialogue and social cohesion goals; integration of vulnerable people, including third country nationals.
Amendment 97 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport (including multimodal transport), energy, digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 97 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care;
Amendment 98 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, tourism, energy, digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 98 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training and related services; social infrastructure (including maintenance and modernisation of educational facilities and social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities with a social goal; integration of vulnerable people, including third country nationals.
Amendment 99 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; a Just Transition for workers, skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities with a social goal; integration of vulnerable people, including third country nationals.
Amendment 99 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social and cultural investment and skills policy window: comprises microfinance, social enterprise finance
source: 628.492
2018/10/09
ENVI
139 amendments...
Amendment 100 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 1 The Commission shall select, in accordance with [Article 154] of the [Financial Regulation], the implementing partners or a group of them, as referred to in the second subparagraph of this paragraph, from among eligible counterparts. At least 50 % of funds shall be transferred to the European Investment Bank.
Amendment 101 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 1 The
Amendment 102 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 4 Where the Member State concerned does not propose an implementing partner, the
Amendment 103 #
Proposal for a regulation Article 12 – paragraph 2 – introductory part 2. When selecting implementing partners, the
Amendment 104 #
Proposal for a regulation Article 12 – paragraph 3 – introductory part 3. When selecting the implementing partners, the
Amendment 105 #
Proposal for a regulation Article 14 – paragraph 2 – point d (d) the remuneration for risk-taking that is to be allocated in proportion to the respective share in the risk-taking of the Union and the implementing partner, without, however, excluding weaker recipients;
Amendment 106 #
Proposal for a regulation Article 17 – paragraph 5 a (new) 5 a. The minutes of meetings of the advisory board shall be made publicly available on a dedicated webpage.
Amendment 107 #
Proposal for a regulation Article 18 – paragraph 3 3. The Commission shall confirm whether the proposed financing and investment operations by the implementing partners comply with Union law and policies and whether it is considered to count towards the targets specified in Article 7 paragraph 5.
Amendment 108 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 3 – point c a (new) (c a) the compliance with the EU environmental standards;
Amendment 109 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 3 – point c b (new) (c b) the compliance with the Energy Union’s energy efficiency first principle;
Amendment 110 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 3 – point c c (new) (c c) whether the proposed operation addresses the identified market failures or sub-optimal investment situations.
Amendment 111 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 3 The scoreboard shall be publicly available
Amendment 112 #
Proposal for a regulation Chapter 5 – title Amendment 113 #
Proposal for a regulation Article 20 – title Amendment 114 #
Proposal for a regulation Article 20 – paragraph 1 – subparagraph 1 Amendment 115 #
Proposal for a regulation Article 20 – paragraph 2 – introductory part 2. The
Amendment 116 #
Proposal for a regulation Article 20 – paragraph 3 3.
Amendment 117 #
Proposal for a regulation Article 20 – paragraph 5 5.
Amendment 118 #
Proposal for a regulation Article 20 – paragraph 7 – subparagraph 1 The implementing partners shall propose to project promoters applying for financing, including in particular smaller-sized projects, to refer their projects to request
Amendment 119 #
Proposal for a regulation Article 21 – paragraph 1 1. The InvestEU Portal shall be established by the Commission. It shall be a
Amendment 120 #
Proposal for a regulation Article 22 – paragraph 4 4. The Commission shall report on the implementation of InvestEU Programme in accordance with [Articles 241 and 250] of the [Financial Regulation]. For that purpose, the implementing partners shall provide annually the information necessary to allow the Commission to comply with its reporting obligations. As part of the annual reporting, the Commission shall annually analyse a multi-annual consolidation exercise to identify whether climate expenditure is on track to achieve the 60%target. The Commission shall provide information on the support to climate change objectives differentiating between mitigation and adaptation as well as information on the climate contribution of relevant financial instruments, and make this publicly available.
Amendment 121 #
Proposal for a regulation Article 24 – paragraph 1 a (new) The EU guarantee, payments and recoveries under it, and operations under the InvestEU programme shall be audited by the Court of Auditors. A special report by the Court of Auditors should be issued 18 months after the entry into force of this regulation.
Amendment 122 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – introductory part 1. Development of the energy sector, excluding activities related to production, processing, transmission, distribution, storage or combustion of fossil fuels, in accordance with the Energy Union priorities, including security of energy supply, and the commitments taken under the Agenda 2030 and the Paris Agreement, in particular through:
Amendment 123 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – introductory part 1. Development of the energy sector in accordance with the Energy Union priorities, including security of energy supply and support for regions affected by the energy transformation, and the commitments taken under the Agenda 2030 and the Paris Agreement, in particular through:
Amendment 124 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point a (a) expansion of the generation, supply, storage or use of clean and sustainable renewable energy;
Amendment 125 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point a a (new) (aa) synergy of the expansion of generation and delivery of clean and renewable energy with regional and national policy objectives and programmes, including the removal of asbestos from roofs, dwellings and soil;
Amendment 126 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point b (b) energy efficiency and energy savings (with a focus on reducing demand through demand-side management and the refurbishment of buildings, including the refurbishment of heat supply systems (HSSs);
Amendment 127 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point c (c) development, smartening and modernisation of sustainable energy infrastructure (transmission and distribution level, storage technologies), and development of innovative HSSs and combined heat and power generation;
Amendment 128 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point c (c) development, smartening and modernisation of sustainable e
Amendment 129 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point d (d) production and supply of synthetic fuels from renewable
Amendment 130 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point d (d) production and supply of synthetic fuels from renewable/carbon-neutral non- fossil sources; alternative fuels;
Amendment 131 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point e (e) bio-carbon-capture and -storage infrastructure.
Amendment 132 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point e a (new) (e a) support for regions undergoing transformation in view of the EU's climate policy objectives, in particular mining regions.
Amendment 133 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point e a (new) (e a) Local and regional renewable energy production especially through energy communities.
Amendment 134 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – introductory part 2. Development of sustainable transport infrastructures, excluding motorways and express-ways and airports, and equipment and innovative technologies in accordance with Union transport priorities and the commitments taken under the Paris Agreement, in particular through:
Amendment 135 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point d (d) railway infrastructure, other rail projects, inland waterway infrastructure and maritime ports;
Amendment 136 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point e (e) alternative
Amendment 137 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point e a (new) (ea) development of new-generation batteries for industrial and electrical mobility applications, including in shipping and aviation;
Amendment 138 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point e b (new) (eb) infrastructure for the production and use of advanced biofuels;
Amendment 139 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point e c (new) (ec) fuelling infrastructure for hydrogen mobility.
Amendment 140 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point a (a) water, including supply and sanitation, and coastal and insular infrastructure and other water-related green infrastructure;
Amendment 141 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point c a (new) (ca) programmes, projects and initiatives in the field of removal of asbestos from roofs, homes, buildings and soil, particularly in combination with the renewable energy and CO2 reduction targets of Member States and regions;
Amendment 142 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point e (e) sustainable urban, rural
Amendment 143 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point g (g) projects and enterprises that implement circular economy by integrating resource efficiency aspects in the production and product life-cycle, including the sustainable supply of primary and secondary raw materials as well as the eventual re-use and recycling;
Amendment 144 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point h a (new) (h a) antimicrobial resistance, and notably reducing the use of antibiotics in humans and animals with the ’One health approach’ by preventative measures;
Amendment 145 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point h a (new) h a) decarbonising the energy production and distribution chain;
Amendment 146 #
Proposal for a regulation Annex II – paragraph 1 – point 3 a (new) 3 a. promote substitution of products that are chemically hazardous with more sustainable alternatives.
Amendment 147 #
Proposal for a regulation Annex II – paragraph 1 – point 4 4. Development of digital connectivity infrastructure, in particular through projects supporting deployment of very high capacity digital networks in urban and rural areas.
Amendment 148 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point b (b)
Amendment 149 #
Proposal for a regulation Annex II – paragraph 1 – point 11 – point a (a) microfinance, social enterprise finance, female entrepreneurship and social economy;
Amendment 150 #
Proposal for a regulation Annex II – paragraph 1 – point 11 – point i a (new) (i a) redeployment, re-skilling and upskilling of workers, education and job- seeking initiatives in regions depending on a carbon intensive economy and affected by the structural transition to a low-carbon economy;
Amendment 151 #
Proposal for a regulation Annex II – paragraph 1 – point 12 Amendment 152 #
Proposal for a regulation Annex II – paragraph 1 a (new) 13 a. Seas and Oceans, through the development of a sustainable blue economy in line with the objectives of the Integrated Maritime Policy in particular through (a) maritime entrepreneurship (b) an innovative and competitive maritime industry (c) ocean literacy and blue careers (d) the International Ocean Governance agenda (e) maritime surveillance and security (f) cross-border cooperation (g) the implementation of the Sustainable Development Goals, in particular SDG 14 (Life Below Water)
Amendment 153 #
Proposal for a regulation Annex III – point 3 – point 3.2 3.2 Investment supporting climate objectives and estimated CO2 reduction
Amendment 154 #
Proposal for a regulation Annex III – point 3 – point 3.2 a (new) 3.2 a Investment supporting environment objectives
Amendment 155 #
Proposal for a regulation Annex III – point 3 – point 3.3 a (new) 3.3 a Absolute and relative greenhouse gasses emission
Amendment 156 #
Proposal for a regulation Annex III – point 4 – point 4.2 a (new) 4.2 a Energy: energy saved
Amendment 157 #
Proposal for a regulation Annex III – point 4 – point 4.2 b (new) 4.2 b Energy: absolute and relative greenhouse gasses emission
Amendment 158 #
Proposal for a regulation Annex III – point 4 – point 4.5 a (new) 4.5 a Transport: absolute and relative greenhouse gasses emission
Amendment 20 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs in the face of technological change and global competitiveness, including for innovation, research, skills, infrastructure, small and medium-
Amendment 21 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate for years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium- sized enterprises ('SMEs') and the need to address key societal challenges such as sustainability or population ageing. Consequently, continued support is necessary to address market failures and sub-optimal investment situations to reduce the investment gap in targeted sectors to achieve the Union's policy objectives.
Amendment 22 #
Proposal for a regulation Recital 1 a (new) (1 a) Europe is more dependent on imported resources than any other region in the world and many resources will be exhausted in a relatively short term. Europe's competitiveness can be increased significantly by getting more added value out of resources in the economy and promoting a sustainable supply of materials from European sources.
Amendment 23 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable growth and jobs, such as the Capital Markets Union, the Digital Single Market Strategy, the Clean Energy for all Europeans package, the Union Action Plan for the Circular Economy, Horizon 2020, the Low-
Amendment 24 #
Proposal for a regulation Recital 3 (3) In the last few years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable growth and jobs, such as the Capital Markets Union, the Digital Single Market Strategy, the Clean Energy for all Europeans package, the Union Action Plan for the Circular Economy, the Low- Emission Mobility Strategy
Amendment 25 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation, move to circular economy and digitisation, the sustainability of the Union's economic growth, the social resilience and inclusiveness and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners. It should be demand-driven while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union.
Amendment 26 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, scientific excellence, the sustainability of the Union's economic growth, the social resilience and inclusiveness and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners. It should be demand-driven while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union.
Amendment 27 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, the sustainability of the Union's economic growth, the social resilience and inclusiveness and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners. It should be well publicised and demand- driven, while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union.
Amendment 28 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster growth, investment and
Amendment 29 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster resource efficiency, green and sustainable growth, investment and employment, and thereby contributing to improved well-being and fairer income distribution in the Union. Intervention through the InvestEU Fund should complement Union support delivered through grants.
Amendment 30 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster growth, investment
Amendment 31 #
Proposal for a regulation Recital 7 (7) The Union endorsed the objectives set out in the United Nations Agenda 2030 and its Sustainable Development Goals and the Paris Agreement in 2015 as well as the Sendai Framework for Disaster Risk Reduction 2015-2030. To achieve the agreed objectives, including those embedded in the environmental policies of the Union, action pursuing sustainable development is to be stepped up significantly and environmentally harmful subsidies to be phased-out. Therefore, the principles of sustainable development should feature prominently in the design of the InvestEU Fund.
Amendment 32 #
Proposal for a regulation Recital 7 (7) The Union endorsed the objectives set out in the United Nations Agenda 2030 and its Sustainable Development Goals and the Paris Agreement in 2015 as well as the Sendai Framework for Disaster Risk Reduction 2015-2030. To achieve the agreed objectives, including those embedded in the environmental policies of the Union, action pursuing sustainable development is to be stepped up significantly. Therefore, the principles of sustainable development
Amendment 33 #
Proposal for a regulation 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 achievement of an overall target of
Amendment 34 #
Proposal for a regulation 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 achievement of an overall target of
Amendment 35 #
Proposal for a regulation 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 achievement of an overall target of
Amendment 36 #
Proposal for a regulation Recital 10 (10) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through an EU climate tracking system developed by the Commission in cooperation with implementing partners and using in an appropriate way the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment14 ] for determining whether an economic activity is environmentally sustainable.
Amendment 37 #
Proposal for a regulation Recital 10 (10) The contribution of the InvestEU Fund to the achievement of the climate target and sectoral targets included in the 2030 Climate and Energy Framework will be tracked through an EU climate tracking system developed by the Commission in cooperation with implementing partners and using in an appropriate way the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment14 ] for determining whether an economic activity is environmentally sustainable. _________________ 14 COM(2018)
Amendment 38 #
Proposal for a regulation Recital 10 (10) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through
Amendment 39 #
Proposal for a regulation Recital 11 (11) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment, built into which are the risks posed by the increasing number of major trade deals, which results in more centralised methods of food production and manufacturing, which further results in increased global transport traffic. Such risks include air, soil and water pollution, extreme weather events, biodiversity losses and failures of climate-change mitigation and adaptation. Environmental principles are strongly embedded in the Treaties and many of the Union's policies. Therefore, the mainstreaming of environmental objectives should be promoted in the InvestEU Fund related operations. Environmental protection and related risk prevention and management should be integrated in the preparation and implementation of investments. The EU should also track its biodiversity-related and air pollution control-related expenditure in order to fulfil the reporting obligations under the Convention on Biological Diversity and Directive (EU) 2016/2284 of the European Parliament and of the Council15 Investment allocated to environmentally sustainability objectives should therefore be tracked using common methodologies coherent with that developed under other Union programmes applying to climate, biodiversity and air pollution management in order to allow assessing the individual and combined impact of investments on the key components of the natural capital, including air, water, land and biodiversity.
Amendment 40 #
Proposal for a regulation Recital 11 (11) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include air, soil and water pollution, extreme weather events, biodiversity losses and failures of climate-change mitigation and adaptation. An unsustainable use of resources is the root cause of many of these environmental risks. Environmental principles are strongly embedded in the Treaties and many of the Union's policies. Therefore, the mainstreaming of environmental objectives should be promoted in the InvestEU Fund related operations. Environmental protection and related risk prevention and management should be integrated in the preparation and implementation of investments. The EU should also track its biodiversity-related and air pollution control-related expenditure in order to fulfil the reporting obligations under the Convention on Biological Diversity and Directive (EU) 2016/2284 of the European Parliament and of the Council15 Investment allocated to environmentally sustainability objectives should therefore be tracked using common methodologies coherent with that developed under other Union programmes applying to climate, biodiversity and air pollution management in order to allow assessing the individual and combined impact of investments on the key components of the natural capital, including air, water, land and biodiversity. _________________ 15 Directive (EU) 2016/2284 of the European Parliament and of the Council of 14 December 2016 on the reduction of national emissions of certain atmospheric pollutants, amending Directive 2003/35/EC and repealing Directive 2001/81/EC (OJ L 344, 17.12.2016, p. 1).
Amendment 41 #
Proposal for a regulation Recital 12 (12) Investment projects receiving substantial Union support, notably in the area of infrastructure, should be subject to sustainability proofing and should align with circular economy principles 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 42 #
Proposal for a regulation Recital 12 (12) Investment projects receiving
Amendment 43 #
Proposal for a regulation Recital 12 (12) Investment projects receiving
Amendment 44 #
Proposal for a regulation Recital 12 a (new) (12 a) The EIB Environmental and Social Handbook, providing an operational translation of the policies and principles contained in the 2009 EIB Statement of Environmental and Social Principles and Standards, should serve as a reference as how to define and implement environmental and social sustainability proofing and to ensure that all financing activities are consistent with environmental and social standards.
Amendment 45 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure are fundamental to meet the Union's sustainability targets, including the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy, environmental, climate action, maritime and digital infrastructure. Support should also be given to vital infrastructural and social investments related to the transformation of regions brought about by the achievement of the EU's climate policy objectives, including, in particular, mining regions. To maximise the impact and the value added of Union financing support, it is appropriate to promote a streamlined investment process enabling visibility of the project pipeline and consistency across relevant Union programmes. Bearing in mind security threats, investment projects receiving Union support should take into account principles for the protection of citizens in public spaces. This should be complementary to the efforts made by other Union funds such as the European Regional Development Fund providing support for security components of investments in public spaces, transport, energy and other critical infrastructure.
Amendment 46 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure are fundamental to meet the
Amendment 47 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure are fundamental to meet the Union's sustainability targets, including the 2030 energy and climate targets as well as the 2050 decarbonisation target. Accordingly, support from the InvestEU Fund should target investments into clean transport, energy,
Amendment 48 #
Proposal for a regulation Recital 14 (14) Whereas the level of overall investment in the Union is increasing, investment in higher-risk activities such as research and innovation is still inadequate. The resulting underinvestment in research and innovation is damaging to the industrial and economic competitiveness of the Union
Amendment 49 #
Proposal for a regulation Recital 15 (15) A significant effort is urgently needed to invest in digital transformation and to distribute the benefits of it to all Union citizens and businesses in urban and rural areas. The strong policy framework of the Digital Single Market Strategy should now be matched by investment of a similar ambition, including in artificial intelligence.
Amendment 50 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs' need to stay competitive by engaging in digitisation, internationalisation and innovation activities and skilling up their workforce. Moreover, compared to larger enterprises, they have access to a more limited set of financing sources: they typically do not issue bonds, have only limited access to stock exchanges or large institutional investors. The challenge in accessing finance is even greater for those SMEs whose activities focus on intangible assets. SMEs in the Union rely heavily on banks and debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges by simplifying their access to finance and providing more diversified sources of funding is necessary for increasing the ability of SMEs to finance their creation, growth and development, withstand economic downturns, and for making the economy and the financial system more resilient during economic downturn or shocks. This is also complementary to the initiatives already undertaken in the context of the Capital Markets Union. Programmes such as COSME and H2020 have been important for SMEs in that they facilitated access to finance in all phases of their lifecycle, and that this was added to by EFSI for which there was a quick SME uptake. The InvestEU Fund should provide an opportunity to focus on specific, more targeted financial products.
Amendment 51 #
Proposal for a regulation Recital 18 (18) The InvestEU Fund should operate under four policy windows, mirroring the key Union policy priorities, namely
Amendment 52 #
Proposal for a regulation Recital 21 (21)
Amendment 53 #
Proposal for a regulation Recital 28 (28) An Investment Committee composed of independent experts should conclude on the granting of the support from the EU guarantee to financing and investment operations fulfilling the eligibility criteria, thereby providing external expertise in investment assessments in relation to projects. The Investment Committee should have different configurations to best cover different policy areas and sectors, while always containing experts on the transition to a zero carbon economy. The Committee should also contain civil society representatives.
Amendment 54 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart's capacity to fulfil the objectives of the InvestEU Fund and contribute its own resources, in order to ensure adequate geographical coverage and diversification, to crowd-in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the European Investment Bank (‘EIB’) Group should remain a privileged implementing partner under the InvestEU Fund's EU compartment. In addition to the EIB Group, national or regional promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the Union. Moreover, it should be possible to have other international financial institutions as implementing partners, in particular when they present a comparative advantage in terms of specific expertise and experience in certain Member States. It should also be possible for other entities fulfilling the criteria laid down in the Financial Regulation to act as implementing partners.
Amendment 55 #
Proposal for a regulation Recital 30 (30) In order to ensure that interventions under the EU compartment of the InvestEU Fund focus on market failures and sub- optimal investment situations at Union level, but, at the same time, satisfy the objectives of best possible geographic outreach, the EU guarantee should be allocated to implementing partners, which alone or together with other implementing partners, can cover at least three Member States. However, it is expected that around
Amendment 56 #
Proposal for a regulation Recital 44 (44)
Amendment 57 #
Proposal for a regulation Recital 47 a (new) (47 a) Stresses the need for rigorous coordination between different types of financial instruments, for the prevention of duplication and for regional balance;
Amendment 58 #
Proposal for a regulation Article 2 – paragraph 1 – point 15 a (new) (15 a) 'start up' means an entreprise that is often tech-enabled, in general combines fast growth, high reliance on innovation of product, processes and financing, utmost attention to new technological developments and extensive use of innovative business models, and, often, collaborative platforms1a. _________________ 1a COM (2016) 733
Amendment 59 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) the sustainability of the Union economy and its growth, including climate change mitigation and adaptation;
Amendment 60 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) the sustainability of the Union economy and its growth, including climate change mitigation and adaptation;
Amendment 61 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) the sustainability of the Union economy
Amendment 62 #
Proposal for a regulation Article 3 – paragraph 2 – point a (a) to support financing and investment operations in sustainable, circular infrastructure in the areas referred to in point (a) of Article 7(1);
Amendment 63 #
Proposal for a regulation Article 3 – paragraph 2 – point b (b) to support financing and investment operations in research, innovation and digitisation in particular to allow for a timely shift to a low carbon and circular economy;
Amendment 64 #
Proposal for a regulation Article 3 – paragraph 2 – point b (b) to support financing and investment operations in research, innovation, circular economy and digitisation;
Amendment 65 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) to increase and simplify the access to and the availability of finance for SMEs and, in duly justified cases, for small mid- cap companies;
Amendment 66 #
Proposal for a regulation Article 3 – paragraph 2 – point d a (new) (d a) to significantly increase investment in climate change adaptation and mitigation and environmental projects in points (a) to(d).
Amendment 67 #
Proposal for a regulation Article 5 – paragraph 1 – introductory part Amendment 68 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy
Amendment 69 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises environmentally, economically and socially sustainable investment in the areas of transport, energy, digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, brownfield regeneration, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 70 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute resource efficiency and to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 71 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, clean energy, digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both,
Amendment 72 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative companies other than SMEs, turn environmental challenges into environmentally sustainable business opportunities as well as digitisation of Union industry;
Amendment 73 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative companies
Amendment 74 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) SMEs policy window: simplified access to and availability of finance for SMEs and, in duly justified cases, for small mid-cap companies;
Amendment 75 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social
Amendment 76 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, adaptation to the needs of industrial restructuring, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities with a social goal; integration of vulnerable people, including third country nationals.
Amendment 77 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance, female entrepreneurship and social economy; skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities with a social goal; integration of vulnerable people, including third country nationals.
Amendment 78 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations under the
Amendment 79 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations under the sustainable infrastructure policy window referred to in point (a) of paragraph (1) shall be subject to climate, environmental and social sustainability proofing with a view to maximise resource efficiency, ensure alignment with circular economy principles and 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 80 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations under the
Amendment 81 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations under the
Amendment 82 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations under the sustainable infrastructure policy window referred to in point (a) of paragraph (1) shall be subject to climate (insofar as such operations have an effect on the climate), environmental and social sustainability proofing
Amendment 83 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point a a (new) a a) ensure compliance with EU environmental policies and standards;
Amendment 84 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point c a (new) c a) rule out support for any fossil fuel infrastructure related to production, processing, transmission, distribution, storage or combustion of fossil fuels;
Amendment 85 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point c a (new) c a) rule out support for projects that run contrary to achieving the mid- and long-term climate and energy targets of the EU
Amendment 86 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point c b (new) c b) rule out, based on a project life cycle assessment, support for projects that are not compatible with the objectives of the Paris Agreement and lead to significant greenhouse gas emissions;
Amendment 87 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point c c (new) c c) assess whether cost-efficient, technically, economically and environmentally sound alternative energy efficiency measures, by means of cost- effective energy end-use savings, demand- side response initiatives and more efficient conversion, transmission and distribution of energy, could replace in whole or in part the proposed operation whilst still achieving the objectives of the respective undertaking, in line with the Regulation on the Governance of the Energy Union;
Amendment 88 #
Proposal for a regulation Article 7 – paragraph 4 4. Implementing partners shall provide the information necessary to allow the tracking of investment that contributes to meeting the Union objectives on climate and environment, based on guidance to be provided by the Commission. The Commission shall ensure that the tracking method will be centrally managed and compatible with tracking climate mainstreaming objectives across the EU budget;
Amendment 89 #
Proposal for a regulation Article 7 – paragraph 5 5. At least 35 % of the investment under InvestEU shall contribute to meeting Union climate objectives. Implementing partners shall target that at least 50 % of the investment under the sustainable infrastructure policy window contribute to meeting the Union objectives on climate and environment. Clear eligibility criteria, and a reliable transparent tracking method, shall be further detailed in the investment guidelines adopted in accordance with paragraph 6. Those guidelines shall reflect current practises of the European Investment Bank as adopted in the climate action methodologies and eligibility criteria.
Amendment 90 #
Proposal for a regulation Article 7 – paragraph 5 5. Implementing partners shall target that at least
Amendment 91 #
Proposal for a regulation Article 7 – paragraph 5 5. At least 40 % of the investments under the Invest EU shall contribute to meeting the climate and environmental objectives of the union. Implementing partners shall
Amendment 92 #
Proposal for a regulation Article 7 – paragraph 5 5.
Amendment 93 #
Proposal for a regulation Article 7 – paragraph 5 5.
Amendment 94 #
Proposal for a regulation Article 7 – paragraph 6 6. The Commission is empowered to adopt delegated acts in accordance with Article 26 supplementing this Regulation with a view to defin
Amendment 95 #
Proposal for a regulation Article 7 – paragraph 6 a (new) 6 a. As to ensure the climate mainstreaming objectives stipulated in this Regulation are fulfilled, the Commission shall put in place a centrally managed system for tracking the allocated ressources and the actual spending based on the Rio Marker system, differentiating between mitigation and adaptation and the different sectors and its greenhouse gas emission reductions.
Amendment 96 #
Proposal for a regulation Article 7 – paragraph 6 b (new) 6 b. As to ensure required level of financing, at least 10% of the investment under InvestEU policy windows and in both EU and Member State compartments must be allocated for the “Environment and resources” eligible area.
Amendment 97 #
Proposal for a regulation Article 8 – paragraph 1 – point a – point iii a (new) (iii a) correcting undesirable environmental, social or climatic impacts resulting from the implementation of European Union policies.
Amendment 98 #
Proposal for a regulation Article 8 – paragraph 2 a (new) 2 a. The Commission is empowered to adopt delegated acts in accordance with Article 26 to define market failures and sub-optimal investment situations referred to in paragraph 1 after receiving advice from the advisory board.
Amendment 99 #
Proposal for a regulation Article 9 – paragraph 3 – point a a (new) a a) identified market failures and sub- optimal investment situations which should be addressed by the financed operations;
source: 628.595
2018/10/10
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218 amendments...
Amendment 100 #
Proposal for a regulation Recital 37 (37) In the context of the InvestEU Fund, there is a need for capacity building support to develop the organisational capacities and market making activities needed to originate quality projects. Moreover, the aim is to create the conditions for the expansion of the potential number of eligible recipients in nascent market segments, in particular where the small size of individual projects raises considerably the transaction cost at the project level, such as for the social finance ecosystem. The capacity building support should therefore be complementary and additional to actions undertaken under other Union programmes that cover a specific policy area. Particular effort should also be made to support the capacity building of potential project promoters, in particular local and regional service provider organisations and authorities.
Amendment 101 #
(37) In the context of the InvestEU Fund, there is a need for capacity building support to develop the organisational capacities and market making activities needed to originate quality projects. Moreover, the aim is to create the conditions for the expansion of the potential number of eligible recipients in nascent market segments, in particular where the small size of individual projects raises considerably the transaction cost at the project level, such as for the social finance ecosystem. The capacity building support should therefore be complementary and additional to actions undertaken under other Union programmes that cover a specific policy area. Particular effort should also be made to support the capacity building of potential project promoters, in particular local and regional service provider organisations and authorities.
Amendment 102 #
Proposal for a regulation Recital 37 (37) In the context of the InvestEU Fund, there is a need for capacity building support to develop the organisational capacities and market making activities needed to originate quality projects. Moreover, the aim is to create the conditions for the expansion of the potential number of eligible recipients in nascent market segments and develop programmes to prepare them, in particular where the small size of individual projects
Amendment 103 #
Proposal for a regulation Recital 40 (40) A solid monitoring framework, based on output, outcome and impact indicators should be implemented to track progress towards the Union’s objectives. In order to ensure accountability to European citizens, the Commission should report annually to the European Parliament and the Council on the progress, impact and operations of the InvestEU Programme, and on the coordination, complementarity and consistency with other Union policies and instruments, especially the funds under shared management.
Amendment 104 #
Proposal for a regulation Recital 40 (40) A solid monitoring framework, based on output, outcome and impact
Amendment 105 #
Proposal for a regulation Recital 40 (40) A solid monitoring framework, based on output, outcome and impact indicators should be implemented to track progress towards the Union’s objectives. In order to ensure accountability to European citizens, the Commission should report
Amendment 106 #
Proposal for a regulation Recital 47 (47) The InvestEU Programme should
Amendment 107 #
Proposal for a regulation Article 1 – paragraph 1 This Regulation establishes the InvestEU Fund providing for an EU guarantee for financing and investment operations carried out by the implementing partners in support of the Union’s internal policies, and in particular of the climate change and SDGs goals, in line with the target of a transition to a net-zero GHG emission economy at the latest by 2050.
Amendment 108 #
Proposal for a regulation Article 1 – paragraph 1 This Regulation establishes the InvestEU Fund providing for an EU guarantee for financing and investment operations carried out by
Amendment 109 #
Proposal for a regulation Article 2 – paragraph 1 – point 5 Amendment 110 #
Proposal for a regulation Article 2 – paragraph 1 – point 7 (7) ‘implementing partner’ means the eligible counterpart
Amendment 111 #
Proposal for a regulation Article 2 – paragraph 1 – point 12 Amendment 112 #
Proposal for a regulation Article 2 – paragraph 1 – point 15 Amendment 113 #
Proposal for a regulation Article 3 – paragraph 1 – point a (a)
Amendment 114 #
Proposal for a regulation Article 3 – paragraph 1 – point a a (new) (aa) the increase of the Union employment rate;
Amendment 115 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) the
Amendment 116 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) the sustainab
Amendment 117 #
Proposal for a regulation Article 3 – paragraph 1 – point b a (new) (ba) balanced development and the reduction of disparities;
Amendment 118 #
Proposal for a regulation Article 3 – paragraph 1 – point c (c)
Amendment 119 #
Proposal for a regulation Article 3 – paragraph 1 – point c (c) the social innovation resilience and inclusiveness of the Union;
Amendment 120 #
Proposal for a regulation Article 3 – paragraph 1 – point c a (new) Amendment 121 #
Proposal for a regulation Article 3 – paragraph 1 – point c b (new) (cb) the economic, territorial and social cohesion;
Amendment 122 #
Proposal for a regulation Article 3 – paragraph 1 – point d (d)
Amendment 123 #
Proposal for a regulation Article 3 – paragraph 1 – point d a (new) (da) the achievement of the climate objectives, as well as delivering long-term environmental and societal benefits.
Amendment 124 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) to increase the access to and the availability of finance for SMEs
Amendment 125 #
Proposal for a regulation Article 3 – paragraph 2 – point d a (new) (da) to increase investment in climate mitigation and adaptation and to make sure that the InvestEU Fund is contributing at least 60 % to climate objectives.
Amendment 126 #
Proposal for a regulation Article 3 – paragraph 2 – point d a (new) (da) to increase investment in climate mitigation and adaptation by contributing at least 40% of its overall financial envelope to climate objectives.
Amendment 127 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 2 Amendment 128 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 2 An additional amount of the EU guarantee may be provided for the purposes of the
Amendment 129 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 2 An additional amount of the EU guarantee may be provided for the purposes of the Member State compartment referred to in point (b) of Article 8(1), subject to the allocation by Member States, pursuant to [Article 10(1)] of Regulation [[CPR] number]28
Amendment 130 #
Proposal for a regulation Article 5 – paragraph 1 – introductory part Amendment 131 #
Proposal for a regulation Article 6 – paragraph 1 1. The EU guarantee
Amendment 132 #
Proposal for a regulation Article 6 – paragraph 4 – subparagraph 2 a (new) Financing and investment operations covered by the EU guarantee under the Member State Compartment which form part of blending operation combining support under this Regulation with support provided under one or more other Union programmes can be implemented under shared management.
Amendment 133 #
Proposal for a regulation Article 6 – paragraph 4 a (new) 4a. Financing and investment operations covered by the EU guarantee under the Member State Compartment which form part of blending operation combining support under this Regulation with support provided under one or more other Union programmes can be implemented under shared management.
Amendment 134 #
Proposal for a regulation Article 6 – paragraph 4 a (new) 4a. Financing and investment operations covered by the EU guarantee under the Member State Compartment which form part of blending operation combining support under this Regulation with support provided under one or more other Union programmes can be implemented under shared management.
Amendment 135 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of
Amendment 136 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, urban mobility, local infrastructures, energy, digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 137 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport and logistics, energy, digital and broadband connectivity, tourism, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 138 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both,
Amendment 139 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both
Amendment 140 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, digital infrastructure, digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 141 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, communication and digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets
Amendment 142 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, cultural heritage, equipment, mobile assets and deployment of innovative technologies that contribute to the economic, environmental or social
Amendment 143 #
(b) research, innovation and digitisation policy window: comprises research and innovation activities, knowledge transfer and transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative companies other than SMEs as well as digitisation of Union industry;
Amendment 144 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative companies other than SMEs and innovation clusters, as well as digitisation of Union industry;
Amendment 145 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation and digitisation policy window: comprises
Amendment 146 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative companies
Amendment 147 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling
Amendment 148 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) SMEs policy window: access to and availability of finance for SMEs and, in duly justified cases, for
Amendment 149 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) SMEs policy window: access to and availability of finance for SMEs and, in duly justified cases, for
Amendment 150 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises ethical and sustainable finance, microfinance, social enterprise finance and social economy; workers buyout; skills, education, training and related services; social infrastructure (including social and student housing); integrated urban regeneration; social innovation; health and long-term care; inclusion and accessibility; cultural activities with a social goal; cultural and creative sectors, including with intercultural dialogue and social cohesion goals; integration of vulnerable people, including third country nationals.
Amendment 151 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; deinstitutionalisation process of children and adults, inclusion and accessibility; cultural activities with a social goal; integration of vulnerable people, including third country nationals.
Amendment 152 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care for active ageing; inclusion and accessibility; cultural activities with a social goal; integration of vulnerable people, including third country nationals.
Amendment 153 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training and related services; social infrastructure (including education, social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities with a social goal; integration of vulnerable people, including third country nationals.
Amendment 154 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations under the sustainable infrastructure policy window 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 and avoiding any operations involving intensive fossil fuel infrastructures. Projects below a certain size defined in the guidance shall be excluded from the proofing.
Amendment 155 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations under the sustainable infrastructure policy window 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 before the entry into force of the Regulation. Projects below a certain size defined in the guidance shall be excluded from the
Amendment 156 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – introductory part The
Amendment 157 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point c (c) estimate the impact on the social inclusion
Amendment 158 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point c (c) estimate the
Amendment 159 #
Proposal for a regulation Article 7 – paragraph 4 4. Implementing partners shall provide the information necessary to allow the tracking of investment that contributes to meeting the Union objectives on climate and environment, as well as on the European Pillar of Social Rights, based on guidance to be provided by the Commission.
Amendment 160 #
Proposal for a regulation Article 7 – paragraph 4 4. Implementing partners shall provide the information necessary to allow the tracking of investment that contributes to meeting the Union objectives on climate and environment, as well as on the European Pillar of Social Rights, based on guidance to be provided by the Commission.
Amendment 161 #
Proposal for a regulation Article 7 – paragraph 5 5. Implementing partners shall
Amendment 162 #
Proposal for a regulation Article 7 a (new) Article 7a Additionality For the purposes of this Regulation, ‘additionality’ means the support by the InvestEU operations which address market failures or sub-optimal investment situations and which could not have been carried out in the period during which the EU guarantee can be used, or not to the same extent, by the EIB, the EIF or under other Union financial instruments without InvestEU support. Projects supported by the InvestEU shall typically have a higher risk profile than projects supported by EIB normal operations and the InvestEU portfolio shall have overall a higher risk profile than the portfolio of investments supported by the EIB under its normal investment policies before the entry into force of this Regulation.
Amendment 163 #
Proposal for a regulation Article 8 Amendment 164 #
Proposal for a regulation Article 8 – paragraph 1 – point b Amendment 165 #
Proposal for a regulation Article 8 – paragraph 1 – point b (b) the Member State compartment shall address specific market failures or sub-optimal investment situations in one or several Member States to deliver objectives of the contributing Funds under shared management. The Member State compartment shall consist of two investment windows, the EIB window and the NPBI window.
Amendment 166 #
Proposal for a regulation Article 8 a (new) Article 8a Additionality For the purposes of this Regulation ‘additionality’ means the support by the InvestEu fund to projects and operations which address market failures or sub- optimal investment situations that could not have been carried out during the period in which the EU guarantee can be used, or not to the same extent, by the EIB or by implementing partners without the InvestEu Fund. Projects supported by the InvestEu Fund shall support the objectives laid down in Article 3 and shall strive to create good-quality employment and sustainable growth.
Amendment 169 #
Proposal for a regulation Article 9 – paragraph 1 1. In line with Article 21 of Regulation (EU) (CPR) Member States or regions, as applicable and on a voluntary basis, may request the transfer of parts of their allocations to InvestEU. Transferred resources shall be implemented in accordance with the rules of InvestEu. Amounts allocated by a Member State under Article [10(1)] of Regulation [[CPR] number] or Article [75(1)] of Regulation [[CAP plan] number] ore, where applicable, by a region, shall be used for the provisioning of the part of the EU guarantee under the Member State compartment covering financing and investment operations in the Member State
Amendment 170 #
Proposal for a regulation Article 9 – paragraph 2 – subparagraph 1 The establishment of that part of the EU guarantee under the Member State compartment shall be subject to the conclusion of a contribution agreement between the Member State or the region, through the Member State, and the
Amendment 171 #
Proposal for a regulation Article 9 – paragraph 3 – point a (a) the overall amount of the part of the EU guarantee under the Member State compartment pertaining to the Member State or region, its provisioning rate, the amount of the contribution from Funds under shared management, the constitution phase of the provisioning in accordance with an annual financial plan and the amount of the resulting contingent liability to be covered by a back-to-back guarantee provided by the Member State or region concerned;
Amendment 172 #
Proposal for a regulation Article 9 – paragraph 3 – point c (c) the implementing partner or partners which have expressed their interest and the obligation of the Commission to inform the Member State and, if applicable, the regional authority, about the implementing partner or partners selected;
Amendment 173 #
Proposal for a regulation Article 9 – paragraph 3 – point e (e) the annual reporting obligations towards the Member State or region if applicable, including reporting in accordance with the indicators referred to in the contribution agreement;
Amendment 174 #
Proposal for a regulation Article 9 – paragraph 4 – subparagraph 1 The contribution agreements shall be implemented by the Commission through guarantee agreements, based on a standard template, signed with implementing partners pursuant to Article 14.
Amendment 175 #
Proposal for a regulation Article 9 – paragraph 5 – point c (c) the Commission shall immediately inform the Member State, or region if applicable, where, as a result of calls on that part of the EU guarantee under the Member State compartment, the
Amendment 176 #
Proposal for a regulation Article 9 – paragraph 5 – point d (d) if the level of provisions for that part of the EU guarantee under the Member State compartment reaches 10 % of the initial provisioning, the Member State or region concerned shall provide to the common provisioning fund up to 5 % of the initial provisioning upon request by the Commission.
Amendment 177 #
Proposal for a regulation Article 9 – paragraph 5 a (new) 5a. Without prejudice to the prerogatives of the Council in the implementation of the Stability and Growth Pact (SGP), contributions by Member States in the form of cash or guarantee into the Member State compartment shall qualify as one-off measures, within the meaning of Article 5 of Council Regulation (EC) No 1466/97 and Article 3 of Council Regulation (EC) No 1467/97.
Amendment 178 #
Proposal for a regulation 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 guarantee shall be irrevocable, unconditional and 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 concessional terms and incentives as needed, in particular: (a) in situation where stressed financial market conditions would prevent the realization 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; (d) where a Member State is experiencing a large asymmetric shock
Amendment 179 #
Proposal for a regulation Article 10 a (new) Article 10a Role of the European Investment Bank The European Investment Bank shall be the entrusted entity managing indirectly the InvestEU Guarantee under both the EU and the Member State Compartment and will act as a conduit for implementing partners.
Amendment 180 #
Proposal for a regulation Article 11 – paragraph 1 a (new) 1a. The Invest EU Fund shall not support activities related to production, processing, distribution, storage or combustion of fossil fuels or CO2 transport infrastructure.
Amendment 181 #
Proposal for a regulation Article 11 – paragraph 1 a (new) 1a. The InvestEU Fund shall not support activities related to production, processing, distribution, storage or combustion of fossil fuels.
Amendment 182 #
Proposal for a regulation Article 11 – paragraph 2 – point a (a) cross-border and interregional projects between entities located or established in one or more Member States and extending to one or more third countries, including acceding countries, candidate countries and potential candidates, countries covered by the European Neighbourhood Policy, the European Economic Area or the European Free Trade Association, or to an overseas country or territory as set out in Annex II to the TFEU, or to an associated third country, whether or not there is a partner in those third countries or overseas countries or territories;
Amendment 183 #
Proposal for a regulation Article 11 – paragraph 3 – point c (c) a third country referred to in point (a) of paragraph 2, where applicable
Amendment 184 #
Proposal for a regulation Article 11 – paragraph 3 – point d Amendment 185 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 2 For the EU compartment, the eligible counterparts shall have expressed their interest and
Amendment 186 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 2 Amendment 187 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 2 Amendment 188 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 3 Amendment 189 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 4 Amendment 190 #
Proposal for a regulation Article 12 – paragraph 2 – introductory part 2. When selecting implementing partners, the Commission shall ensure that their proposal for the portfolio of financial products under the InvestEU Fund:
Amendment 191 #
Proposal for a regulation Article 12 – paragraph 2 – point d (d) achieves geographical diversification in relation to the need for balanced development;
Amendment 192 #
Proposal for a regulation Article 12 – paragraph 2 – point d (d) achieves geographical diversification by Member State and by Region;
Amendment 193 #
Proposal for a regulation Article 12 – paragraph 2 – point e (e) provides sufficient risk diversification, provided that excessive- financial-risk operations are avoided;
Amendment 194 #
Proposal for a regulation Article 14 – paragraph 2 – point f (f) the commitment of the implementing partner to accept the decisions by the
Amendment 195 #
Proposal for a regulation Article 14 – paragraph 5 Amendment 196 #
Proposal for a regulation Article 17 – paragraph 1 1. The
Amendment 197 #
Proposal for a regulation Article 17 – paragraph 5 – point a – point ii (ii) provide advice to the
Amendment 198 #
Proposal for a regulation Article 17 a (new) Amendment 199 #
Proposal for a regulation Article 18 Amendment 200 #
Proposal for a regulation Article 18 Amendment 201 #
Amendment 202 #
Proposal for a regulation Article 18 – paragraph 1 Amendment 203 #
Proposal for a regulation Article 18 – paragraph 2 Amendment 204 #
Amendment 205 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 1 Amendment 206 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 2 The
Amendment 207 #
Proposal for a regulation Article 19 – paragraph 1 – introductory part 1. An independent Investment Committee shall be established. It shall
Amendment 208 #
Proposal for a regulation Article 19 – paragraph 1 – introductory part 1. An independent Investment Committee shall be established. It shall
Amendment 209 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 2 Each configuration of the Investment Committee shall be composed of s
Amendment 210 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 3 The experts shall have a high level of relevant market experience in project structuring and financing
Amendment 211 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 3 The experts shall have a high level of relevant market experience in project structuring and financing
Amendment 212 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 4 The composition of the Investment Committee shall ensure that it has a wide knowledge of the sectors covered by the policy windows referred to in Article 7(1) and of the geographic markets in the Union and that it is geographical and gender- balanced as a whole.
Amendment 213 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 5 Four members shall be permanent members of all four configurations of the Investment Committee. In addition, the four configurations shall each have two experts with experience in investment in sectors covered by that policy window. At least one of the permanent members shall have expertise in sustainable investment. The Commission shall assign the Investment Committee members to its appropriate configuration or configurations. The Investment Committee shall elect a chairperson from among its permanent members. Where involved, implementing partners should participate in the Investment Committee.
Amendment 214 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 5 F
Amendment 215 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 6 The
Amendment 216 #
Proposal for a regulation Article 19 – paragraph 3 – subparagraph 1 When participating in the activities of the Investment Committee, its members shall perform their duties impartially and in the sole interest of the InvestEU Fund. They shall not seek or take instructions from the implementing partners, the institutions of the Union, the Member States, the regions or any other public or private body.
Amendment 217 #
Proposal for a regulation Article 19 – paragraph 3 – subparagraph 2 CVs and declarations of interest of each member of the Investment Committee shall be made public and constantly updated. Each member of the Investment Committee shall communicate without delay to the Commission and the Steering Committee all information needed to check on an ongoing basis the absence of any conflict of interest.
Amendment 218 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 2 Conclusions of the Investment Committee approving the support of the EU guarantee
Amendment 219 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 3 Amendment 220 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 4 Twice a year, the conclusions
Amendment 221 #
Proposal for a regulation Article 20 – paragraph 1 – subparagraph 1 The InvestEU Advisory Hub shall be managed by the European Investment Bank and will build on the expertise of the Commission, the EIB Group and other institutions, such as NPBIs, and shall provide advisory support for the identification, preparation, development, structuring, procuring and implementation of investment projects, or enhance the capacity of promoters and financial intermediaries to implement financing and investment operations. Its support may cover any stage of the life-cycle of a project or financing of a supported entity, as appropriate.
Amendment 222 #
Proposal for a regulation Article 20 – paragraph 1 a (new) 1a. The InvestEU Advisory Hub shall provide advisory support at regional and local level to promote projects with positive climate, environmental and social impact and abiding by the ‘Energy Efficiency First’ principle. Project development assistance to continue to shall be part of the support provided by the Hub.
Amendment 223 #
Proposal for a regulation Article 20 – paragraph 2 – point a (a) providing a single point of entry for project development assistance for authorities and project promoters for
Amendment 224 #
Proposal for a regulation Article 20 – paragraph 2 – point c (c) supporting actions and leveraging local and regional knowledge to facilitate the use of the InvestEU Fund support across the Union and contributing actively where possible to the objective of sectorial and geographical diversification of the InvestEU Fund by supporting the implementing partners in originating and developing potential financing and investment operations;
Amendment 225 #
Proposal for a regulation Article 20 – paragraph 2 – point c (c) supporting actions and leveraging local and regional knowledge to facilitate the use of the InvestEU Fund support across the Union and contributing actively where possible to the objective of sectorial and geographical diversification of the InvestEU Fund by supporting the implementing partners in originating and developing potential financing and investment operations;
Amendment 226 #
Proposal for a regulation Article 20 – paragraph 2 – point f a (new) (fa) undertaking communication and visibility actions to raise awareness of the available support to project promoters and to financial intermediaries provided by the Advisory Hub, and more generally of the opportunities available under InvestEu.
Amendment 227 #
Proposal for a regulation Article 20 – paragraph 6 6. The InvestEU Advisory Hub shall have
Amendment 228 #
Proposal for a regulation Article 20 – paragraph 6 6. The InvestEU Advisory Hub shall have
Amendment 229 #
Proposal for a regulation Article 20 – paragraph 6 a (new) 6a. The InvestEU Advisory Hub shall be in contact with local, regional or national authorities managing European Structural and Investment Funds to guide project promoters to those projects, which could be supported with funds under shared management.
Amendment 230 #
Proposal for a regulation Article 22 – paragraph 5 5. In addition, each implementing partner shall submit every six months a report to the Commission on the financing and investment operations covered by this Regulation, broken down by the EU compartment and the Member State compartment by Member State, as appropriate. The implementing partner shall also submit this report to the Member State whose compartment it serves. The report shall include an assessment of compliance with the requirements on the use of the EU guarantee and with the key performance indicators laid down in Annex III to this Regulation. The report shall also include operational, statistical, financial and accounting data on each financing and investment operation and at the compartment, policy window and the InvestEU Fund level. One of those reports shall contain the information the implementing partners shall provide in accordance with [Article 155(1)(a)] of the [Financial Regulation].
Amendment 231 #
Proposal for a regulation Article 23 – paragraph 2 2. By 30
Amendment 232 #
Proposal for a regulation Article 23 – paragraph 3 3. At the end of the implementation of the InvestEU Programme, but no later than four years after the end of the period specified in Article 1,
Amendment 233 #
Proposal for a regulation Article 24 – paragraph 1 Audits on the use of the Union funding carried out by the European Court of Auditors together with those performed by persons or entities, including by others than those mandated by the Union institutions or bodies, shall form the basis of the overall assurance pursuant to [Article 127] of the [Financial Regulation].
Amendment 234 #
Proposal for a regulation Article 27 – paragraph 1 1. The implementing partners shall acknowledge the origin and ensure the visibility of the Union funding (in particular when promoting the actions and their results), by providing coherent, effective and targeted information to multiple audiences, including the media and the public, according to the standards applicable to EU programs.
Amendment 235 #
Proposal for a regulation Article 27 – paragraph 2 2. The Commission shall implement information and communication
Amendment 236 #
Proposal for a regulation Article 27 – paragraph 2 2. The Commission shall implement information and communication actions relating to the InvestEU Programme and its actions and results, including through the national contact points of the Union programmes. Financial resources allocated to the InvestEU Programme shall also contribute to the corporate communication of the political priorities of the Union, as far as they are related to the objectives referred to in Article 3.
Amendment 237 #
Proposal for a regulation Annex II – paragraph 1 – introductory part The financing and investment operations may fall under one or more of the following areas but shall not support activities related to production, processing, distribution, storage or combustion of fossil fuels:
Amendment 238 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point d (d) production and supply of
Amendment 239 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point e (e)
Amendment 240 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point e (e) zero-emission alternative fuels infrastructure, including electric charging infrastructure.
Amendment 241 #
Proposal for a regulation Annex II – paragraph 1 – point 4 4. Development of digital connectivity infrastructure, in particular through projects supporting deployment of very high capacity digital networks
Amendment 242 #
Proposal for a regulation Annex II – paragraph 1 – point 7 – point a (a) provision of working
Amendment 243 #
Proposal for a regulation Annex II – paragraph 1 – point 13 – point c (c) to underpin space entrepreneurship, including in downstream development;
Amendment 244 #
Proposal for a regulation Annex III – point 3 – point 3.2 3.2 Investment supporting energy and climate objectives for 2030 and 2050
Amendment 245 #
Proposal for a regulation Annex III – point 4 – point 4.1 4.1 Energy: Additional renewable energy generation capacity installed (MW) by source
Amendment 28 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium- sized enterprises (‘SMEs’) and the need to address key societal challenges such as sustainability or population ageing. Consequently, continued support is necessary to address market failures and sub-optimal investment situations to reduce the investment gap
Amendment 29 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about
Amendment 30 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment
Amendment 31 #
Proposal for a regulation Recital 2 a (new) (2 a) According to the 2018 Special Report of Court of Auditors1a “Joint Assistance to Support Projects in European Regions (JASPER) - time for better targeting”, there is evidence of discontinued assignments which is caused by poor targeting. _________________ 1a https://www.eca.europa.eu/Lists/ECADoc uments/SR18_01/SR_JASPERS_EN.pdf
Amendment 32 #
(3) In the last years, the Union has adopted
Amendment 33 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable and inclusive growth and jobs, such as the Capital Markets Union, the Digital Single Market Strategy, the European Agenda for Culture, the Clean Energy for all Europeans package, the Union Action Plan for the Circular Economy, the Low-
Amendment 34 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable growth and jobs, such as the Capital Markets Union, the Digital Single Market Strategy, the Clean Energy for all Europeans package, the Union Action Plan for the Circular Economy, the Low- Emission Mobility Strategy, the Defence and the Space Strategy for Europe. The InvestEU Fund should exploit and reinforce synergies between those mutually reinforcing strategies through providing support to investment and access to financing in all regions, especially in regions where such access is structurally constrained.
Amendment 35 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable growth and jobs, such as the Europe 2020 Strategy, the Capital Markets Union, the Digital Single
Amendment 36 #
Proposal for a regulation Recital 4 (4)
Amendment 37 #
Proposal for a regulation Recital 4 (4) At Union level, the European Semester of economic policy coordination is the framework to identify national reform priorities and monitor their implementation. Member States, in cooperation with local and regional authorities, develop their own national multiannual investment strategies in support of those reform priorities. The strategies should be presented alongside the yearly National Reform Programmes as a way to outline and coordinate priority investment projects to be supported by national or Union funding, or by both. They should also serve to use Union funding in a coherent manner and to maximise the added value of the financial support to be received notably from the European Structural and Investment Funds, the European Investment Stabilisation Function and the InvestEU Fund, where relevant.
Amendment 38 #
Proposal for a regulation Recital 4 (4) At Union level, the European Semester of economic policy coordination is the framework to identify national reform priorities and monitor their implementation. Member States develop their own national multiannual investment
Amendment 39 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should
Amendment 40 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, the sustainability of the Union’s economic growth, the social resilience and inclusiveness and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support the dual value of cultural and creative sectors, projects that are technically and economically and socially viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union’s budget and by financial contributions from implementing partners. It should be demand-driven while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union.
Amendment 41 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster
Amendment 42 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster growth, investment and employment, and thereby contributing to the reduction of disparities between regions, improved well-being
Amendment 43 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster growth, investment and employment, and thereby contributing to the reduction of disparities between regions, improved well-being
Amendment 44 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in
Amendment 45 #
Proposal for a regulation Recital 7 (7) The Union endorsed the objectives
Amendment 46 #
Proposal for a regulation 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 achievement of an overall target of
Amendment 47 #
Proposal for a regulation 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 and the need to alignment of financial flows with a climate resilient development, the InvestEU Programme will contribute to mainstream climate actions and to the achievement of an overall target of
Amendment 48 #
Proposal for a regulation Recital 10 (10) The contribution of the InvestEU Fund to the achievement of the energy and climate target and the sectorial targets included in the 2030 Climate and Energy Framework, will be tracked through an EU climate tracking system developed by the Commission in cooperation with implementing partners and using in an appropriate way the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment14 ] for determining whether an economic activity is environmentally sustainable. _________________ 14 COM(2018)353. COM(2018)353.
Amendment 49 #
Proposal for a regulation Recital 11 (11) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include air, soil and water pollution, extreme weather events, biodiversity losses and failures of climate-change mitigation and adaptation. Environmental principles are strongly embedded in the Treaties and many of the Union’s policies. Therefore, the mainstreaming of environmental objectives should be promoted in the InvestEU Fund related operations. Environmental
Amendment 50 #
Proposal for a regulation Recital 12 (12) Investment projects receiving substantial Union support, notably in the area of infrastructure, should be subject to sustainability proofing in accordance with
Amendment 51 #
Proposal for a regulation Recital 12 a (new) (12a) The InvestEU Programme should also integrate the gender perspective in all its working and decision making processes, make sure that committees and projects teams are gender balanced and ensure that the implementation of this fund contributes to the promotion of gender equality in compliance with EU gender mainstreaming obligations (Article 8 TFEU).
Amendment 52 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union’s ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure are fundamental to meet the Union’s sustainability targets, including the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy, environmental, climate action, maritime and digital infrastructure. To maximise the impact and the value added of Union financing support, it is appropriate to promote a streamlined investment process enabling visibility of the project pipeline and consistency across relevant Union programmes. Bearing in mind security threats, investment projects receiving Union support should take into account principles for the protection of citizens in public spaces.
Amendment 53 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union’s ability to boost
Amendment 54 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union’s ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the
Amendment 55 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union’s ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure are fundamental to meet the Union’s sustainability targets, including the 2030 energy and climate
Amendment 56 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union’s ability to boost sustainable growth, competitiveness and convergence and reduce regional disparities. Sizeable investments in the European infrastructure are fundamental to meet the Union’s sustainability targets, including the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy,
Amendment 57 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union’s ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure are fundamental to meet the Union’s sustainability targets, including the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy, environmental, climate action, maritime and digital infrastructure. To maximise the impact and the value added of Union financing support, it is appropriate to promote a streamlined investment process
Amendment 58 #
Proposal for a regulation Recital 14 (14) Whereas the level of overall investment in the Union is increasing, investment in higher-risk activities such as research and innovation is still inadequate. The resulting underinvestment in research and innovation is damaging to the industrial and economic competitiveness of the Union and the quality of life of its citizens. The InvestEU Fund should provide the appropriate financial products to cover different stages in the innovation cycle and a wide range of stakeholders and support for innovation clusters, in particular to allow the upscaling of and deployment of solutions at a commercial scale in the Union, in order to make such solutions competitive on world markets.
Amendment 59 #
Proposal for a regulation Recital 14 (14) Whereas the level of overall investment in the Union is increasing, investment in higher-risk activities such as research
Amendment 60 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs), including those of the creative and cultural sectors, play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs’ need to stay competitive by engaging in digitisation, internationalisation and innovation activities and skilling up their workforce. Moreover, compared to larger enterprises,
Amendment 61 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs’ need to stay competitive by engaging in digitisation, internationalisation and innovation
Amendment 62 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs’ need to stay competitive by engaging in digitisation,
Amendment 63 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs’ need to stay competitive by
Amendment 64 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17, building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training
Amendment 65 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17, building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training, culture, employment and health. Investment in the social, skills and human capital-related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. The InvestEU Fund should be used to support investment in education and training, help increase employment, in particular among the unskilled and long- term unemployed, and improve the situation with regard to intergenerational solidarity, the health sector, homelessness, digital inclusiveness, community development, the role and place of young people in society as well as vulnerable people, including third country nationals. The InvestEU Programme should also contribute to the support of European culture and creativity. To counter
Amendment 66 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17, building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training and health. Investment in the social, skills and human capital-related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. The InvestEU Fund should be used to support investment in education and training, help increase employment, in particular among the unskilled and long-term unemployed, and improve the situation with regard to intergenerational solidarity, the health sector, homelessness, digital inclusiveness, community development, the deinstitutionalisation process of children and adults, the role and place of young people in society, as well as vulnerable people, including third country nationals. The InvestEU Programme should also contribute to the support of European culture and creativity. To counter the profound transformations of societies in the Union and of the labour market in the coming decade, it is necessary to invest in human capital, microfinance, social enterprise finance and new social economy business models, including social impact investment and social outcomes contracting. The InvestEU Programme should strengthen nascent social market eco-system, increasing the supply of and access to finance to micro- and social enterprises, to meet the demand of those who need it the most. The report of the High-Level Task-Force on Investing in Social Infrastructure in Europe18 has identified investment gaps in social infrastructure and services, including for education, training, health and housing, social inclusion, which call for support, including at the Union level. Therefore, the collective
Amendment 67 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17, and the EU framework on the EU Convention on the Rights of Persons with Disabilities, building a more inclusive and fairer Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training and health. Investment in the social, skills and human
Amendment 68 #
Proposal for a regulation Recital 17 a (new) (17a) The projects funded under InvestEU should promote equality between women and men, in particular in research and innovation, by addressing the underlying causes of gender imbalance, by exploiting the full potential of both female and male researchers, and by integrating the gender dimension into the research and innovation content; as well as by paying particular attention to ensuring gender balance in evaluation panels and in other relevant advisory and expert bodies. Activities should also aim at implementation of principles relating to equality between women and men as laid down in Articles 2 and 3 of the Treaty on European Union and in Article 8 TFEU and Directive 2006/54/EC on the implementation of the principle of equal opportunities and equal treatment of men and women in matters of employment and occupation.
Amendment 69 #
Proposal for a regulation Recital 18 (18) The InvestEU Fund should operate under four policy windows, mirroring the key Union policy priorities, namely sustainable infrastructure; research, innovation and digitisation: SMEs; and social investment and skills. Supported actions should address market failures or sub-optimal investment situations at Union level or in one or several Member States, in a proportionate manner, including vulnerable and remote areas such as the outermost regions of the Union and should have a clear European added value.
Amendment 70 #
Proposal for a regulation Recital 19 Amendment 71 #
Proposal for a regulation Recital 19 (19)
Amendment 72 #
Proposal for a regulation 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
Amendment 73 #
Proposal for a regulation Recital 19 a (new) (19a) Member States will have the authority to assess and identify Cohesion Policy objectives to be pursued under the Member State compartment of InvestEU and what portion of ESIF they will dedicate to this delivery mechanism. While contributing funds to InvestEU, Member States shall select which thematic objectives they will pursue, in the context of the InvestEU proposed policy windows, and their ESIF contributions will be subject to the regulatory framework for indirect implementation applicable to InvestEU. The specified objectives shall be protected through the obligations and conditions set out in the agreement with the implementing partner, which will refer to the specific results to be achieved.
Amendment 74 #
Proposal for a regulation Recital 20 Amendment 75 #
Proposal for a regulation Recital 20 Amendment 76 #
Proposal for a regulation Recital 20 Amendment 77 #
Proposal for a regulation Recital 20 (20) The Member State compartment should be specifically designed to allow the use of funds under shared management
Amendment 78 #
Proposal for a regulation Recital 21 (21) The InvestEU Fund should be open to contributions from third countries that are members of the European Free Trade Association, acceding countries, candidates and potential candidates, countries covered by the Neighbourhood policy and other countries, in accordance with the conditions laid down between the Union and those countries, provided that the principles and rights that are enshrined in the European treaties and in the Charter of Fundamental Rights of the European Union are respected. This should allow continuing cooperating with the relevant countries, where appropriate, in particular in the fields of research and innovation as well as SMEs.
Amendment 79 #
Proposal for a regulation Recital 23 a (new) (23a) Member States and Regions may contribute to the Member State compartment in the form of guarantees or cash. Without prejudice to the prerogatives of the Council in the implementation of the Stability and Growth Pact (SGP), contributions by Member States in the form of cash or guarantee into the Member State compartment shall qualify as one-off measures, within the meaning of Article 5 of Council Regulation (EC) No 1466/97 and Article 3 of Council Regulation (EC) No 1467/97.
Amendment 80 #
Proposal for a regulation 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. 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.
Amendment 81 #
Proposal for a regulation Recital 26 a (new) (26a) A Steering Committee consisting of appointees by the European Commission, the European Investment Bank, the Implementing Partners, and an expert appointed by the European Parliament, should be established in order to ensure the governance of the InvestEu programme has the correct balance between policy and banking expertise.
Amendment 82 #
Proposal for a regulation Recital 27 Amendment 83 #
Proposal for a regulation Recital 27 Amendment 84 #
Proposal for a regulation Recital 27 Amendment 85 #
Proposal for a regulation Recital 27 Amendment 86 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart’s capacity to fulfil the objectives of the InvestEU Fund and contribute its own resources, in order to ensure adequate geographical coverage and diversification, to avoid disproportionate benefit to larger Member States with more developed capital markets, to crowd-in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the European Investment Bank (‘EIB’) Group should remain a privileged implementing partner under the InvestEU Fund’s EU compartment. In addition to the EIB Group, national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the Union.
Amendment 87 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart’s capacity to fulfil the objectives of the InvestEU Fund and contribute its own resources, in order to ensure adequate geographical coverage and diversification, to crowd-in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub-optimal investment situations. Investment through the InvestEU Fund should not deepen regional development disparities. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the European Investment Bank (‘EIB’) Group should remain a privileged implementing partner under the InvestEU Fund’s EU compartment. In addition to the EIB Group, national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the Union. Moreover, it should be possible to have other international financial institutions as implementing partners, in particular when they present a comparative advantage in terms of specific expertise and experience in certain Member States. It should also be possible for other entities fulfilling the criteria laid down in the Financial Regulation to act as implementing partners.
Amendment 88 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart’s capacity to fulfil the objectives of the InvestEU Fund and contribute its own resources, in order to ensure adequate geographical coverage and diversification, to crowd-in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the European Investment Bank (‘EIB’) Group should remain a privileged implementing partner so as to receive 75 % of the EU guarantee under the InvestEU Fund’s EU compartment. In addition to the EIB Group, national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the Union. Moreover, it should be possible to have other international financial institutions as implementing partners, in particular when they present a comparative advantage in terms of specific expertise and experience in certain Member States. It should also be possible for other entities fulfilling the criteria laid down in the Financial Regulation to act as implementing partners.
Amendment 89 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart’s capacity to fulfil the objectives of the InvestEU Fund and contribute its own resources, in order to ensure adequate geographical coverage and diversification, to crowd-in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the European Investment Bank (‘EIB’) Group should remain a privileged implementing partner under the InvestEU Fund
Amendment 90 #
Proposal for a regulation Recital 30 Amendment 91 #
Proposal for a regulation Recital 30 (30) In order to ensure that interventions
Amendment 92 #
Proposal for a regulation Recital 30 (30) In order to ensure that interventions under the EU compartment of the InvestEU Fund focus on market failures and sub- optimal investment situations at Union level, but, at the same time, satisfy the objectives of best possible geographic outreach, the EU guarantee should be allocated to implementing partners, which alone or together with other implementing partners, can cover at least three Member States. However, it is expected that around 75 % of the EU guarantee under the EU compartment would be allocated to
Amendment 93 #
Proposal for a regulation Recital 30 (30) In order to ensure that interventions under the
Amendment 94 #
Proposal for a regulation Recital 31 Amendment 95 #
Proposal for a regulation Recital 31 Amendment 96 #
Proposal for a regulation Recital 31 (31) The EU guarantee under the
Amendment 97 #
Proposal for a regulation Recital 35 (35) The InvestEU Advisory Hub should support the development of a robust pipeline of investment projects in each policy window providing for effective implementation of geographic diversification with a view to contributing to the Union objective of economic, social, and territorial cohesion and reducing regional disparities. In addition, a cross- sectoral component under the InvestEU Programme should be foreseen to ensure a single-entry point and cross-policy project development assistance for centrally managed Union programmes.
Amendment 98 #
Proposal for a regulation Recital 36 (36) In order to ensure a wide geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the InvestEU Fund, a
Amendment 99 #
Proposal for a regulation Recital 36 (36) In order to ensure a wide geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the InvestEU Fund, a regional and local presence of the InvestEU Advisory Hub should be
source: 628.559
2018/11/07
BUDG, ECON
688 amendments...
Amendment 138 #
Proposal for a regulation – The European Parliament rejects [the Commission proposal].
Amendment 139 #
Proposal for a regulation Recital -1 (new) (-1) The European Fund for Strategic Investments has proved to be a valuable tool for the mobilization of private investments through the use of EU Guarantee and the own resources of the EIB Group;
Amendment 140 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong
Amendment 141 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs in the
Amendment 142 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. According to the most recent data on national accounts, there no indication of a significant surge in investment since the European Fund for Strategic Investments (EFSI) was launched, while growth is unevenly distributed among Member States and mainly export led. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs in the
Amendment 143 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs for sustaining a long-term growth rate based on the constant improvement of the Union's Total Factor Productivity (TFP) in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium-
Amendment 144 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, micro-enterprises, small and medium-
Amendment 145 #
Proposal for a regulation Recital 1 (1) With 1.8% of EU GDP, down from 2.2% in 2009, infrastructure investment activities in the Union in 2016 were about 20% below investment rates before the global financial crisis. Thus, while a recovery in investment-to-GDP ratios in the Union can be observed, it remains below what might be expected in a strong recovery period and is insufficient to compensate years of underinvestment. More importantly, the current investment levels and forecasts do not cover the Union’s structural investment needs in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium- sized enterprises ('SMEs') and the need to address key societal challenges such as sustainability or population ageing. Consequently, continued support is necessary to address Union-wide and/or Member State specific market failures and sub-optimal investment situations to reduce the investment gap in targeted sectors to achieve the Union's policy objectives.
Amendment 146 #
(1a) Acknowledges that one of the main barrier to business investment is the lack of demand resulting from austerity measures, that provoked a sharp drop in workers’ disposable income and in public consumption and investment; believes that only an increase in workers’ income and ambitious public investment will be able to avoid risks of continued weak growth, or even recession, and continuing high unemployment rates; urges to an immediate reverse of the austerity measures, repeal the budget deficit and public debt limits and create a broad public investment plan;
Amendment 147 #
Proposal for a regulation Recital 1 a (new) (1a) Member States’ economies urgently need a truly public investment plan geared towards social, economic and territorial cohesion and designed to increase aggregate demand and investment in public infrastructure that could subsequently and leverage and enhance private investment. Only a plan of this nature can be effective in reviving growth, fighting unemployment and combating social, economic and territorial inequalities.
Amendment 148 #
Proposal for a regulation Recital 1 a (new) (1a) A permanent EU counter-cyclical strategic investment instrument is needed;
Amendment 149 #
Proposal for a regulation Recital 2 (2) Evaluations have underlined that the variety of financial instruments delivered under the 2014-2020 Multiannual Financial Framework period has led to some overlaps and unclear processes for the blending of the European Structural Investment Funds with the market instrument developed by the Union, e.g. EFSI.. That variety has also produced complexity for intermediaries and final recipients who were confronted with different eligibility and reporting rules. Absence of compatible rules also hampered the combination of several Union funds although such combination would have been beneficial to support projects in need of different types of funding. Therefore, a single fund, the InvestEU Fund, should be set up in order to achieve additionality, a more efficiently functioning support to final recipients by integrating and simplifying the financial offer under a single budgetary guarantee scheme, thereby improving the impact of Union intervention while reducing the cost to the Union budget.
Amendment 150 #
Proposal for a regulation Recital 3 Amendment 151 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted
Amendment 152 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable and inclusive growth and jobs, such as the
Amendment 153 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable growth and jobs, such as the Capital Markets Union, the Digital Single Market Strategy, the Clean Energy for all Europeans package, the Union Action Plan for the Circular Economy, the Low- Emission Mobility Strategy
Amendment 154 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable
Amendment 155 #
Proposal for a regulation Recital 4 Amendment 156 #
Proposal for a regulation Recital 4 Amendment 157 #
Proposal for a regulation Recital 4 (4)
Amendment 158 #
Proposal for a regulation 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 159 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should
Amendment 160 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to
Amendment 161 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving
Amendment 162 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness
Amendment 163 #
(5) The InvestEU Fund should contribute to making the EU economy and the financial system more resilient during economic and downturn shocks by financing counter-cyclical and sustainable growth enhancing long-term investments, improving the competitiveness of the Union, including in the field of innovation and digitisation, the sustainability of the Union's economic growth, the social resilience and inclusiveness and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners. It should be demand-driven while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union.
Amendment 164 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socioeconomic convergence of the Union, including in the field of innovation and digitisation, the sustainability of the Union's economic
Amendment 165 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, the sustainability of the Union's economic growth, the social resilience and inclusiveness and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support the dual value of cultural and creative sectors, projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by
Amendment 166 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation
Amendment 167 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, the sustainability of the Union's economic growth, the social resilience and inclusiveness and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners as relevant. It should be demand-driven while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union.
Amendment 168 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness of the Union, including in the field of innovation and digitisation, the sustainability of the Union's economic growth, the social resilience and inclusiveness and the integration of the Union capital markets, including solutions addressing their fragmentation and diversifying sources of financing for the Union enterprises. To that end, it should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments underpinned by a guarantee from the Union's budget and by contributions from implementing partners as relevant. It should be demand-driven while support under the InvestEU Fund should at the same time focus on contributing to meeting policy objectives of the Union.
Amendment 169 #
Proposal for a regulation Recital 5 a (new) Amendment 170 #
Proposal for a regulation Recital 5 a (new) (5a) Access to finance remains an essential issue for companies in the cultural and creative sector. To further develop this highly innovation sector, the dedicated guarantee facility created in Creative Europe will be continued under Invest EU as it has showed to successfully strengthen the financial capacity and competitiveness of cultural and creative sectors companies.
Amendment 171 #
Proposal for a regulation Recital 5 b (new) (5b) Cultural and creative sectors are one of the most resilient and fastest growing sectors of the European economy, which generate economic and cultural value from intellectual property and individual creativity. However, the intangible nature of their assets limits their access to private financing. Thus, one of the greatest challenges for the sectors is to increase their access to finance, which is essential to invest, scale- up and compete at the international level. Therefore the Invest EU Programme should facilitate access to finance for SMEs and organisations from cultural and creative sectors.
Amendment 172 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster
Amendment 173 #
(6) The InvestEU Fund should support investments in tangible and intangible assets to foster
Amendment 174 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster sustainable growth, investment and employment
Amendment 175 #
(6) The InvestEU Fund should support investments in tangible and intangible assets to foster growth, investment and employment, and thereby contributing to improved well-being and fairer income distribution in the Union. InvestEU funded projects must meet social and environmental standards, such as the respect for labour rights and climate- friendly energy usage and waste management. Intervention through the InvestEU Fund should complement Union support delivered through grants.
Amendment 176 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster growth, investment and employment, and thereby contributing to improved well-being and fairer income distribution in the Union. Intervention through the InvestEU Fund should complement Union support delivered through grants, and thus, the same EU state-aid rules should apply..
Amendment 177 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets, including cultural heritage and tourism to foster growth, investment and employment, and thereby contributing to improved well-being and fairer income distribution in the Union. Intervention through the InvestEU Fund should complement Union support delivered through grants.
Amendment 178 #
Proposal for a regulation Recital 6 (6) The InvestEU Fund should support investments in tangible and intangible assets to foster sustainable growth, investment and employment, and thereby contributing to improved well-being and fairer income distribution in the Union. Intervention through the InvestEU Fund should complement Union support delivered through grants.
Amendment 179 #
Proposal for a regulation Recital 6 a (new) (6a) Additionality, a key feature of the EFSI, should be strengthened in the InvestEU selection criteria. In particular, operations should only be eligible if they address clearly identified market failures or sub-optimal investment situations. InvestEU should not support public- private in infrastructure, given that these are in general more expensive for taxpayers and consumers.
Amendment 180 #
Proposal for a regulation Recital 6 a (new) (6a) The Commission, the Investment Committee and the implementing partners should ensure that projects funded under the InvestEU programme representing public-private partnerships do not entail incentives structures for private actors that could lead to large losses to the public sector.
Amendment 181 #
Proposal for a regulation Recital 7 (7) The Union endorsed the objectives set out in the United Nations Agenda 2030 and its Sustainable Development Goals and the Paris Agreement in 2015 as well as the Sendai Framework for Disaster Risk Reduction 2015-2030. To achieve the agreed objectives, including those embedded in the environmental policies of the Union, action pursuing sustainable development is to be stepped up significantly. Therefore, the principles of sustainable development
Amendment 182 #
Proposal for a regulation Recital 7 (7) The Union endorsed the objectives set out in the United Nations Agenda 2030 and its Sustainable Development Goals and the Paris Agreement in 2015 as well as the Sendai Framework for Disaster Risk Reduction 2015-2030. To achieve the agreed objectives, including those embedded in the social and environmental policies of the Union, action pursuing sustainable development is to be stepped up significantly. Therefore, the principles of sustainable development should feature prominently in the design of the InvestEU Fund.
Amendment 183 #
Proposal for a regulation Recital 8 (8) The InvestEU Programme should contribute to building a sustainable finance system in the Union which supports the re- orientation of private capital towards sustainable investments fully integrating environmental, social and governance factors, in accordance with the objectives set out in the Commission Action Plan for Financing Sustainable Growth13 . _________________ 13 COM(2018)97 final. COM(2018)97 final.
Amendment 184 #
Proposal for a regulation Recital 8 a (new) (8a) In the spirit of fostering long-term financing and sustainable growth, long- term investments strategies of insurance companies should be encouraged through a revision of the solvency requirements on the contributions for financing investment projects backed by the EU Guarantee in the framework of the InvestEU programme. In order to align the incentives of insurers towards the Union's objective of long term sustainable growth and to remove obstacle to investments under the InvestEU programme, the Commission should therefore take into account this revision as part of the review referred to in Article 77f (3) of Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II).
Amendment 185 #
Proposal for a regulation Recital 8 a (new) (8a) To achieve the Union's and international climate objectives, climate action targets should overall not be lower than 50%. In order to address the European Court of Auditors recommendations, compulsory climate action targets should be laid out in programme specific legislations and require ex-ante earmarking in all programming and planning processes rather than ex-post accounting.
Amendment 186 #
Proposal for a regulation Recital 9 (9) Reflecting the importance of tackling climate change in line with the Union's climate related long-term objectives and remaining carbon budget, the Union's commitments to implement the
Amendment 187 #
Proposal for a regulation 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
Amendment 188 #
Proposal for a regulation 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 achievement of an overall target of
Amendment 189 #
Proposal for a regulation 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
Amendment 190 #
Proposal for a regulation 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 achievement of an overall target of
Amendment 191 #
Proposal for a regulation 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 achievement of an overall target of 25 % of the Union budget expenditures supporting climate objectives over the MFF 2021- 2027 period and an annual target of 30 % as soon as possible and at the latest by 2027. Actions under the InvestEU Programme are expected to
Amendment 192 #
Proposal for a regulation Recital 9 a (new) (9a) With regard to the cost of capital of renewable energy projects, the InvestEU Fund should allow for the use of an innovative guarantee instrument to reduce regulatory risk and associated high cost of capital in some Member States. This possibility should be open on a voluntary basis. To achieve this objective, the InvestEU Fund should contribute where appropriate to the enabling framework for investment into renewable energy as set out in Art 3.5 of the revised [Renewables Directive], including the financing mechanism established by Article 27bis of the [Governance Regulation].
Amendment 193 #
Proposal for a regulation Recital 10 (10) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through an EU climate tracking system developed by the Commission in cooperation with implementing partners and using in an appropriate way the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment14] for determining whether an economic activity
Amendment 194 #
Proposal for a regulation Recital 10 (10) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through an EU climate tracking system developed by the Commission in cooperation with implementing partners and using in an appropriate way the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment14 ] for determining whether an economic activity is environmentally sustainable.
Amendment 195 #
Proposal for a regulation Recital 11 (11) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include air, soil and water pollution, extreme weather events, biodiversity losses and failures of climate-change mitigation and adaptation. Environmental principles are strongly embedded in the Treaties and many of the Union's policies. Therefore, the mainstreaming of environmental objectives should be promoted in the InvestEU Fund related operations. Environmental protection and related risk prevention and management should be integrated in the preparation and implementation of investments. The EU should also track its biodiversity-related and air pollution control-related expenditure in order to fulfil the reporting obligations under the Convention on Biological Diversity and Directive (EU) 2016/2284 of the European Parliament and of the Council15
Amendment 196 #
Proposal for a regulation Recital 11 (11) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include air, soil and water pollution, extreme weather events, biodiversity losses and failures of climate-change mitigation and adaptation. Environmental principles are strongly embedded in the Treaties and many of the Union's policies. Therefore, the mainstreaming of environmental objectives should be promoted in the InvestEU Fund related operations. Environmental protection and related risk prevention and management, including the preparation for natural disasters if in line with the investment criteria established in this Regulation, including the additionality requirement, should be integrated in the preparation and implementation of investments. The EU should also track its biodiversity-related and air pollution control-related expenditure in order to fulfil the reporting obligations under the Convention on Biological Diversity and Directive (EU) 2016/2284 of the European Parliament and of the Council15 Investment allocated to environmentally sustainability objectives should therefore be tracked using common methodologies coherent with that developed under other Union
Amendment 197 #
Proposal for a regulation Recital 11 (11) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include air, soil and water pollution, extreme weather events, biodiversity losses and failures of climate-change mitigation and adaptation. Environmental principles are strongly embedded in the Treaties and many of the Union's policies. Therefore, the mainstreaming of environmental objectives should be promoted in the InvestEU Fund related operations. Environmental protection and related risk prevention and management for events such as floods, earthquakes, wildfires and other disasters should be integrated in the
Amendment 198 #
Proposal for a regulation Recital 11 (11) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include air, soil and water pollution, extreme weather
Amendment 199 #
(12) Investment projects receiving substantial Union support, notably in the area of infrastructure, should be subject to sustainability proofing in accordance with
Amendment 200 #
Proposal for a regulation Recital 12 (12) Investment projects receiving substantial Union support, notably in the area of infrastructure, should be subject to sustainability proofing in accordance with
Amendment 201 #
Proposal for a regulation Recital 12 (12) Investment projects receiving substantial Union support
Amendment 202 #
Proposal for a regulation Recital 12 (12) Investment projects receiving substantial Union support, notably in the area of infrastructure, should be subject to sustainability proofing and in line with circular economy principles 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 203 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure are fundamental to meet the Union's sustainability targets, including the 2030 energy and climate
Amendment 204 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable and inclusive growth, competitiveness and convergence. Sizeable investments in the
Amendment 205 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investment
Amendment 206 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis along with recessive economic policies and further cuts to public investments, undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure are fundamental to meet the Union's social standards for employment, inequalities and sustainability targets, including the 2030 energy and climate targets as well as the Paris Agreement goals. Accordingly, support from the
Amendment 207 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. The relatively weak performance of the Infrastructure Window under EFSI indicates the low demand side of the market to invest in infrastructures, especially cross-border infrastructures, despite the availability of supply-side instruments. Sizeable investments in the
Amendment 208 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost
Amendment 209 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the
Amendment 210 #
Proposal for a regulation Recital 13 (13) Low infrastructure investment rates in the Union during the financial crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. Sizeable investments in the European infrastructure are fundamental to meet the Union's sustainability targets, including the 2030 energy and climate
Amendment 211 #
Proposal for a regulation Recital 13 a (new) (13a) The Energy Performance of Buildings Directive (Directive (EU)2018/844) requires Member States to establish a long-term renovation strategy to support the renovation of the national stock of residential and non-residential buildings, both public and private, into a highly energy efficient and decarbonised building stock by 2050, facilitating the cost-effective transformation of existing buildings into nearly zero-energy buildings. Member States are also required to facilitate access to appropriate mechanisms for aggregation of projects and the reduction of the perceived risk for investors and the private sector.
Amendment 212 #
Proposal for a regulation Recital 14 (14) Whereas the level of overall investment in the Union is increasing, investment in higher-risk activities such as research and innovation is still inadequate. The resulting underinvestment in research and innovation is damaging to the industrial and economic competitiveness of the Union and the quality of life of its citizens. The InvestEU Fund should provide the appropriate financial products to cover different stages in the innovation cycle and a wide range of stakeholders,
Amendment 213 #
(14) Whereas the level of overall investment in the Union is increasing, investment in higher-risk activities such as social enterprise, research and innovation is still inadequate. The resulting underinvestment in research and innovation is damaging to the industrial and economic competitiveness of the Union and the quality of life of its citizens. The InvestEU Fund should provide
Amendment 214 #
Proposal for a regulation Recital 15 (15) A significant effort is urgently needed to invest in digital transformation and to distribute the benefits of it to all Union citizens and businesses. The strong policy framework of the Digital Single Market Strategy should now be matched by investment of a similar ambition, including in artificial intelligence, machine learning, DLT and blockchain technologies, Internet of Things and biotechnology inter alia. In this line Fintech innovation can improve the efficiency of capital allocation and the exploration of crowdfunding and token based financial instruments can mobilize significant volumes of idle capital to highly risky entrepreneurial ventures. The combination of those capital accumulation instruments with InvestEU is desirable, subject to the improvement of legal certainty of these innovative financial instruments in the context of the Capital Markets Union. The experience of the European Investment fund in blending crowdfunding-pooled capital with its own tools could be instrumental to this direction.
Amendment 215 #
Proposal for a regulation Recital 15 (15) A significant effort is urgently needed to invest in digital transformation and to distribute the benefits of it to all Union citizens and businesses. The strong policy framework of the Digital Single Market Strategy should now be matched by investment of a similar ambition, including in ethical artificial intelligence. The latter should be subject to an ex-ante ethical impact assessment. This review should extend beyond the narrow confines of privacy and data protection and take into account the broader societal impacts of the underlying AI agenda. Projects that raise substantial ethical and/or societal impact concerns should be subject to enhanced scrutiny and control and to ethical review.
Amendment 216 #
Proposal for a regulation Recital 15 a (new) (15a) As the single market is negatively impacted by the digital divide, created by lack of network access, uneven speeds between regions and lack of knowledge, the digital transformation of the society should empower citizens, especially the young digital natives, to feel secure to use new technologies, learning about privacy, security and basic safeguards that will protect them from malicious activity and increase their potential for the economy. Therefore, a comprehensive approach to increase coverage, achieve similar levels of connectivity and equal knowledge for all is needed. Moreover, the data generated by InvestEU funded projects should be kept as a source of public value and used for public policy evaluation and enhancing purposes.
Amendment 217 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient
Amendment 218 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) play a crucial role in
Amendment 219 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) play a crucial role
Amendment 220 #
Proposal for a regulation Recital 16 (16) Small and medium-sized enterprises (SMEs) play a crucial role in the Union. However, they face challenges when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from SMEs' need to stay competitive by engaging in digitisation, internationalisation, adjustment to circular economy principles and innovation activities and skilling up their workforce. Moreover, compared to larger enterprises, they have access to a more limited set of financing sources: they typically do not issue bonds, have only limited access to stock exchanges or large institutional investors. The challenge in accessing finance is even greater for those SMEs whose activities focus on intangible assets. SMEs in the Union rely heavily on banks and debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges and providing more diversified sources of funding is necessary for increasing the ability of SMEs to finance their creation, growth and development, withstand economic downturns, and for making the economy and the financial system more resilient during economic downturn or shocks. This is also complementary to the initiatives already undertaken in the context of the Capital Markets Union. The InvestEU Fund should provide an opportunity to focus on specific,
Amendment 221 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17
Amendment 222 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16 and the European Pillar of Social Rights17
Amendment 223 #
Proposal for a regulation Recital 17 (17) As set out in the reflection paper on the social dimension of Europe16
Amendment 224 #
Proposal for a regulation Recital 17 a (new) (17a) Article 8 of the TFEU lays down the principle for gender mainstreaming in all EU activities. A proper implementation of gender mainstreaming requires the allocation of adequate resources and transparency in the budges lines dedicated to promote gender equality and to combat gender discrimination. The InvestEU Programme should integrate the gender perspective in all its workings and decision making processes, make sure that committees and projects teams are gender balanced and ensure that the implementation of this fund contributes to the promotion of gender equality in compliance with EU gender mainstreaming obligations.
Amendment 225 #
Proposal for a regulation Recital 17 b (new) (17b) The projects funded under InvestEU should promote equality between women and men, in particular in research and innovation, by addressing the underlying causes of gender imbalance, by exploiting the full potential of both female and male researchers, and by integration of the gender dimension in the research and innovation content; as well as by paying particular attention to ensuring gender balance in evaluation panels and in other relevant advisory and expert bodies. Activities should also aim at implementation of principles relating to equality between women and men as laid down in Articles 2 and 3 of the Treaty of the European Union, in Article 8 TFEU and Directive 2006/54/EC on the implementation of the principle of equal opportunities and equal treatment of men and women in matters of employment and occupation.
Amendment 226 #
Proposal for a regulation Recital 18 a (new) (18a) The InvestEU Fund should guarantee a fair and balanced distribution of investment between the various EU Member States and regions.
Amendment 227 #
Proposal for a regulation Recital 19 Amendment 228 #
Proposal for a regulation 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
Amendment 229 #
Proposal for a regulation 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
Amendment 230 #
Proposal for a regulation 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.
Amendment 231 #
Proposal for a regulation 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 and coordination 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
Amendment 232 #
Proposal for a regulation 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 an effective and 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 Member State 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 n
Amendment 233 #
Proposal for a regulation Recital 19 (19) Each policy window should be composed of two compartments, that is to say an EU compartment and a Member State compartment.
Amendment 234 #
Proposal for a regulation Recital 19 (19) Each policy window should be
Amendment 235 #
Proposal for a regulation 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 236 #
Proposal for a regulation Recital 19 a (new) (19a) The InvestEU Fund should also support fair transition actions and strategies supporting investments addressing the situation of workers in specific sectors like coal/lignite mining that could be affected from the transition to a low-carbon economy.
Amendment 237 #
Proposal for a regulation Recital 20 Amendment 238 #
Proposal for a regulation Recital 20 (20) The Member State compartment should be specifically designed to allow the use of
Amendment 239 #
(20) The Member State compartment should be specifically designed to allow the use of funds under shared management to provision a guarantee issued by the Union. Member States can exercise this option only starting from the 1st of January 2024. They can use up to 3% of the financial envelope of each fund under shared management defined in article 2 (5) of the Regulation. Where a regional or local authority managed funds under shared management, the Member State that wants to allow the use of those funds in the InvestEU programme shall conclude a specific agreement with the concerned regional or local authority. Such agreement may provide for investment activities on the territory of the region or local authority. That combination aims at mobilising the high credit rating of the Union to promote national and regional investments while ensuring a consistent risk management of the contingent liabilities by implementing the guarantee given by the Commission under indirect management. The Union should guarantee the financing and investment operations foreseen by the guarantee agreements concluded between the Commission and implementing partners under the Member State compartment, the Funds under shared management should provide the provisioning of the guarantee, following a provisioning rate determined by the Commission based on the nature of the operations and the resulting expected losses, and the Member State would assume losses above the expected losses by issuing a back-to-back guarantee in favour of the Union. Such arrangements should be concluded in a single contribution agreement with each Member State that voluntarily chooses such option. The contribution agreement should encompass the one or more specific guarantee agreements to be implemented within the Member State concerned. The setting out of the provisioning rate on a case by case basis requires a derogation from [Article 211(1)] of Regulation (EU, Euratom) No XXXX19 (the 'Financial Regulation'). This design provides also a single set of rules for budgetary guarantees supported by funds managed centrally or by funds under shared management, which would facilitate their combination.
Amendment 240 #
Proposal for a regulation Recital 20 (20) The Member State compartment should be specifically designed to allow the use of funds under shared management to provision a guarantee issued by the Union. That combination aims at mobilising the high credit rating of the Union to promote national and regional investments while ensuring a consistent risk management of the contingent liabilities by implementing the guarantee given by the Commission under indirect management. The Union should guarantee the financing and investment operations foreseen by the guarantee agreements concluded between the Commission and implementing partners under the Member State compartment, the Funds under shared management should provide the provisioning of the guarantee, following a
Amendment 241 #
Proposal for a regulation Recital 21 (21) The InvestEU Fund should be open to contributions from third countries that are members of the European Free Trade Association, acceding countries, candidates and potential candidates, countries covered by the Neighbourhood policy and other countries, in accordance with the
Amendment 242 #
Proposal for a regulation Recital 23 (23) The EU guarantee for purposes of the EU compartment of EUR 38 000 000 000 (current prices) at Union level is expected along with EUR 9 500 000 from financial partners to mobilise
Amendment 243 #
Proposal for a regulation Recital 23 (23) The EU guarantee of EUR 3
Amendment 244 #
Proposal for a regulation Recital 23 (23) The EU guarantee of EUR
Amendment 245 #
Proposal for a regulation Recital 23 (23) The EU guarantee of EUR
Amendment 246 #
Proposal for a regulation Recital 23 (23) The EU guarantee of EUR
Amendment 247 #
Proposal for a regulation Recital 23 (23) The EU guarantee for the purposes of the EU compartment of EUR 38 000 000 000 (current prices) at Union level is expected together with EUR 9 500 000 000 from financial partners to mobilise more than EUR 650 000 000 000 of additional investment across the Union and should be indicatively allocated between the policy windows.
Amendment 248 #
Proposal for a regulation Recital 23 a (new) (23a) Member States should contribute to the Member State compartment in the form of guarantees or cash. Without prejudice to the prerogatives of the Council in the implementation of the Stability and Growth Pact (SGP), contributions by Member States in the form of guarantees or cash into the Member State compartment, or contributions either by a Member State or by national promotional banks classified in the general government sector or acting on behalf of a Member State into investment platforms, should not qualify as one-off measures within the meaning of Article 5 of Council Regulation (EC) No 1466/97 and Article 3 of Council Regulation (EC) No 1467/97.
Amendment 249 #
Proposal for a regulation Recital 23 a (new) Amendment 250 #
Proposal for a regulation Recital 23 a (new) (23a) The InvestEU programme should ensure that the EU guarantee at Union level is also used as a counter-cyclical investment instrument. The Commission shall assess each year during the Autumn cycle of the European Semester the economic prospects of the Member States using the InvestEU programme, including its contribution to the number of jobs created and sustainable development goals. Taking into consideration this forecast for the EU economic cycle the Commission shall, for the next budgetary exercise, adjust the amount of the EU guarantee available, the provisioning rate to be applied and the multiplier to be achieved.
Amendment 251 #
Proposal for a regulation Recital 23 b (new) (23b) To adjust these values, the Commission shall take into consideration the global amount of the EU guarantee already assigned, the average provisioning rate ensured and the average multiplier achieved for the given period of time and by programme.
Amendment 252 #
Proposal for a regulation 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. 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.
Amendment 253 #
Proposal for a regulation Recital 24 (24) The EU guarantee underpinning the InvestEU Fund should be implemented indirectly by the Commission relying on implementing partners with outreach to financial intermediaries, where applicable, and final recipients. 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.
Amendment 254 #
Proposal for a regulation 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
Amendment 255 #
Proposal for a regulation Recital 24 (24) The EU guarantee underpinning the InvestEU Fund should be implemented indirectly by the Commission relying on implementing partners with outreach to financial intermediaries and final recipients. 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 256 #
Proposal for a regulation Recital 24 (24) The EU guarantee underpinning the InvestEU Fund should be implemented indirectly by the Commission relying on implementing partners with outreach to financial intermediaries and final recipients. 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 257 #
Proposal for a regulation 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. 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 tailor made eligibility criteria. The InvestEU Fund should be
Amendment 258 #
Proposal for a regulation Recital 24 a (new) (24a) The InvestEU Fund should be endowed with an appropriate governance structure tailored to its sole purpose of ensuring the appropriate use of the EU guarantee. That governance structure should be composed of an Advisory Board, a Steering Board and an Investment Committee. The Commission should assess the extent to which investment and financing operations submitted by the implementing partners are compatible with Union law and policies, whereas decisions on financing and investment operations should ultimately be taken by the implementing partners.
Amendment 259 #
Proposal for a regulation Recital 24 a (new) (24a) The InvestEU Fund should be provided with an appropriate governance structure the function of which should be commensurate with its sole purpose of ensuring the appropriate use of the EU guarantee. That governance structure should be composed of an Advisory Board, a Steering Board and an Investment Committee. The Commission should assess the compatibility of investment and financing operations submitted by the implementing partners with Union law and policies via a dedicated procedure whereas the decisions on financing and investment operations should ultimately be taken by an implementing partner;
Amendment 260 #
Proposal for a regulation Recital 24 a (new) (24a) The InvestEU Fund should be provided with an appropriate governance structure the function of which should be commensurate with its sole purpose of ensuring the appropriate use of the EU guarantee. That governance structure should be composed of an Advisory Board, a Steering Board and an Investment Committee. The Commission should assess the compatibility of investment and financing operations submitted by the implementing partners with Union law and policies via a dedicated procedure whereas the decisions on financing and investment operations should ultimately be taken by an implementing partner.
Amendment 261 #
Proposal for a regulation Recital 24 a (new) (24a) The InvestEU Fund should be provided with an appropriate governance structure the function of which should be commensurate with its sole purpose of ensuring the appropriate use of the EU guarantee, while ensuring political independence of investment decisions and being in line with the market-driven nature of the InvestEU Fund. That governance structure should be composed of a Steering Board, an Advisory Board and a fully independent Investment Committee.
Amendment 262 #
Proposal for a regulation Recital 24 a (new) (24a) A Steering Board with an executive role to make decisions according to Article 17 of this Regulation comprised by four members appointed by the European Commission, two experts appointed by the European Parliament and two members appointed by the EIB Group. All the members comprising the Steering Board are voting members. The Steering Board shall make its decisions with consensus.
Amendment 263 #
Proposal for a regulation Recital 25 (25) An Advisory Board consisting of representatives of the implementing partners and of representatives of Member States along with representatives from relevant Committees of the European Parliament, should be established in order to exchange information and for exchanges on the take-up of the financial products deployed under the InvestEU Fund and to discuss on evolving needs and new products, including specific territorial market gaps.
Amendment 264 #
Proposal for a regulation Recital 25 (25) An Advisory Board consisting of representatives of the Commission, the European Investment Bank (EIB) Group and the implementing partners and of representatives of Member States should be established in order to exchange information and for exchanges on the take- up of the financial products deployed under the InvestEU Fund and to discuss on evolving needs and new products, including specific territorial market gaps.
Amendment 265 #
Proposal for a regulation Recital 26 Amendment 266 #
Proposal for a regulation Recital 26 Amendment 267 #
Proposal for a regulation Recital 26 (26) The
Amendment 268 #
Proposal for a regulation Recital 26 (26) The
Amendment 269 #
Proposal for a regulation Recital 26 (26) The
Amendment 270 #
Proposal for a regulation Recital 26 a (new) Amendment 271 #
Proposal for a regulation Recital 27 Amendment 272 #
Proposal for a regulation Recital 27 Amendment 273 #
Proposal for a regulation Recital 27 Amendment 274 #
Proposal for a regulation Recital 27 Amendment 275 #
Proposal for a regulation Recital 27 (27)
Amendment 276 #
Proposal for a regulation Recital 27 (27)
Amendment 277 #
Proposal for a regulation Recital 27 (27) A
Amendment 278 #
Proposal for a regulation Recital 28 (28) An Investment Committee composed of independent experts should conclude on the granting of the support from the EU guarantee to financing and investment operations fulfilling the eligibility criteria, thereby providing external expertise in investment assessments in relation to projects. The Investment Committee should have different configurations to best cover different policy areas and sectors, while it should as a general rule always include experts from climate, environmental and civil society organisations, and be gender- balanced.
Amendment 279 #
Proposal for a regulation Recital 28 a (new) (28a) The gender balance shall be ensured in the overall composition of the governance structure.
Amendment 280 #
(29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart's capacity to fulfil the objectives of the InvestEU Fund and contribute its own resources, in order to ensure adequate geographical coverage and diversification, to crowd-in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the European Investment Bank (‘EIB’) Group should remain a privileged implementing partner under the InvestEU Fund's EU compartment. In addition to the EIB Group, national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the Union.
Amendment 281 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart's capacity to fulfil the objectives of the InvestEU Fund and contribute its own resources, in order to ensure adequate geographical coverage and diversification, to avoid disproportionate benefit to larger Member States with more developed capital markets to crowd-in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the European Investment Bank (‘EIB’) Group should remain a privileged implementing partner under the InvestEU Fund's EU compartment. In addition to the EIB Group, national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the Union.
Amendment 282 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the
Amendment 283 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the
Amendment 284 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the
Amendment 285 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart's capacity to fulfil the objectives of the InvestEU Fund and its contribut
Amendment 286 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart's capacity to fulfil the objectives of the InvestEU Fund and contribute its own resources, in order to ensure adequate geographical coverage and diversification, to crowd-in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and
Amendment 287 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart's capacity to fulfil the
Amendment 288 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart's capacity to fulfil the objectives of the InvestEU Fund and contribute its own resources, in order to ensure adequate geographical coverage and diversification, to crowd-in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the European Investment Bank (‘EIB’) Group should remain a privileged implementing partner under the InvestEU Fund's EU compartment. In addition to the EIB Group, national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the Union. Moreover, it should be possible to have other international financial institutions as implementing partners, in particular when they present a comparative advantage in terms of specific expertise and experience in certain Member States. It should also be possible for other entities fulfilling the criteria laid down in the Financial Regulation to act as implementing partners, including ethical and social banks, especially under the social investment and skills policy window.
Amendment 289 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart's capacity to fulfil the objectives of the InvestEU Fund and contribute its own resources, in order to ensure adequate geographical coverage and diversification, to crowd-in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the European Investment Bank (‘EIB’) Group should remain a privileged implementing partner under the InvestEU Fund's EU compartment. In addition to the EIB Group, national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on all the territory of the Union. Moreover, it should be possible to have other international financial institutions as implementing partners, in particular when they present a comparative advantage in terms of specific expertise and experience in certain Member States. It should also be possible for other entities fulfilling the criteria laid down in the Financial Regulation to act as implementing partners.
Amendment 290 #
Proposal for a regulation Recital 29 (29) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterpart's capacity to fulfil the objectives of the InvestEU Fund and contribute
Amendment 291 #
(30) In order to ensure that interventions under the EU compartment of the InvestEU Fund focus on market failures and sub- optimal investment situations at Union level, but, at the same time, satisfy the objectives of best possible geographic outreach, the EU guarantee should be allocated to implementing partners, which alone or together with other implementing partners, can cover
Amendment 292 #
Proposal for a regulation Recital 30 (30) In
Amendment 293 #
Proposal for a regulation Recital 30 (30) In order to ensure that interventions
Amendment 294 #
Proposal for a regulation Recital 30 (30) In order to ensure that interventions under the EU compartment of the InvestEU Fund focus on market failures and sub-
Amendment 295 #
(30) In order to ensure that interventions under the EU compartment of the InvestEU Fund focus on market failures and sub- optimal investment situations at Union level, but, at the same time, satisfy the objectives of best possible geographic outreach, the EU guarantee should be allocated to implementing partners, which alone or together with other implementing partners, can cover at least three Member States. However,
Amendment 296 #
Proposal for a regulation Recital 30 (30) In order to ensure that interventions under both
Amendment 297 #
Proposal for a regulation Recital 30 (30) In order to ensure that interventions under the EU compartment of the InvestEU Fund focus on market failures and sub- optimal investment situations at Union level, but, at the same time, satisfy the objectives of best possible geographic outreach, the EU guarantee should be allocated to implementing partners, which alone or together with other implementing partners, can cover
Amendment 298 #
Proposal for a regulation Recital 30 (30) In order to ensure that interventions under the EU compartment of the InvestEU Fund focus on market failures and sub- optimal investment situations at Union
Amendment 299 #
Proposal for a regulation Recital 30 (30) In order to ensure that interventions under the EU compartment of the InvestEU Fund focus on market and coordination failures and sub-
Amendment 300 #
Proposal for a regulation Recital 31 Amendment 301 #
Proposal for a regulation Recital 31 (31) The EU guarantee under the Member State compartment should be allocated to any implementing partner eligible according to [Article 62(1)(c)] of the [Financial Regulation], including national or regional promotional banks or institutions, the EIB
Amendment 302 #
Proposal for a regulation Recital 31 (31) The EU guarantee under the Member State compartment should be allocated to any implementing partner eligible according to [Article 62(1)(c)] of the [Financial Regulation], including national or regional promotional banks or institutions, the EIB, the European Investment Fund and other multilateral
Amendment 303 #
Proposal for a regulation Recital 32 (32) Financing and investment operations should ultimately be decided by an implementing partner in its own name, implemented in accordance with its internal rules and procedures
Amendment 304 #
Proposal for a regulation Recital 32 (32) Financing and investment operations should ultimately be decided by an implementing partner in its own name, implemented in accordance with its internal rules and procedures
Amendment 305 #
Proposal for a regulation Recital 33 (33) The InvestEU Fund should
Amendment 306 #
Proposal for a regulation Recital 33 (33) The InvestEU Fund should, where appropriate, allow for a smooth and efficient blending of grants or financial instruments, or both, funded by the Union budget or by the EU Emissions Trading System (ETS) Innovation Fund with that guarantee in situations where this is necessary to best underpin investments to address particular market and coordination failures or sub-
Amendment 307 #
Proposal for a regulation Recital 35 (35) The InvestEU Advisory Hub should support the development of a robust pipeline of investment projects in each policy window, providing for effective implementation of geographic diversification with a view to contributing to the Union objective of economic, social, and territorial cohesion and reducing regional disparities. The Advisory Hub should pay particular attention to the necessity of aggregating small projects and bundle them into larger portfolios. In addition, a cross-
Amendment 308 #
Proposal for a regulation Recital 35 (35) The InvestEU Advisory Hub should support the development of a robust pipeline of investment projects in each policy window and shall be managed by the Commission, in cooperation with the implementing partners, and other market building institutions including philanthropic actors. In addition, a cross- sectoral component under the InvestEU Programme should be foreseen to ensure a single-entry point and cross-policy project development assistance for centrally managed Union programmes.
Amendment 309 #
Proposal for a regulation Recital 35 (35) The InvestEU Advisory Hub should support the development of a robust pipeline of investment projects in each policy window, while taking due account of the expertise and local capacity of the implementing partners. In addition, a cross-
Amendment 310 #
Proposal for a regulation Recital 36 (36) In order to ensure a wide geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the InvestEU Fund, a local presence of the InvestEU Advisory Hub should be ensured, where needed,
Amendment 311 #
Proposal for a regulation Recital 36 (36) In order to ensure a wide geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the InvestEU Fund, a local presence in each Member State and in regions of the InvestEU Advisory Hub should be ensured
Amendment 312 #
Proposal for a regulation Recital 36 (36) In order to ensure a wide geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the InvestEU Fund, a local presence of the InvestEU Advisory Hub should be ensured, where needed, taking into account existing support schemes, with a view to provide tangible, proactive, tailor-made assistance on the ground.
Amendment 313 #
Proposal for a regulation Recital 36 a (new) (36a) The InvestEU Advisory Hub should give advice to small and medium- sized projects and start-up projects, especially those seeking to protect their research and innovation investments by obtaining intellectual property (IP) titles, such as patents.
Amendment 314 #
Proposal for a regulation Recital 36 a (new) (36a) The InvestEU Advisory Hub should provide advisory support to small projects and projects for start-ups, for example when start-ups seek to protect their research and innovation investments by obtaining intellectual property (IP) titles, such as patents.
Amendment 315 #
Proposal for a regulation Recital 37 (37) In the context of the InvestEU Fund, there is a need
Amendment 316 #
Proposal for a regulation Recital 37 a (new) (37a) Given the positive track record of national promotional banks in generating, bundling and financing projects, for example on small scale energy efficiency and renewable energy projects on a local and regional level, their expertise should be pooled into advisory hubs and their role as implementing partners should continue to be valued.
Amendment 317 #
Proposal for a regulation Recital 40 (40) A solid monitoring framework, based on output, outcome and impact indicators should be implemented to track progress towards the Union's objectives. In order to ensure accountability to European citizens, the Commission should report annually to the European Parliament
Amendment 318 #
Proposal for a regulation Recital 40 (40) A solid monitoring framework, based on output, outcome and impact indicators should be implemented to track progress towards the Union's objectives. In order to ensure accountability to European
Amendment 319 #
Proposal for a regulation Recital 44 (44) Third countries which are members of the European Economic Area (EEA) may participate in Union programmes in the framework of the cooperation established under the EEA agreement, which provides for the implementation of the programmes by a decision under that agreement. Third countries may also participate on the basis of other legal instruments. A specific provision should be introduced in this Regulation to grant the necessary rights for and access to the authorising officer responsible, the European Anti-Fraud Office (OLAF) as well as the European Court of Auditors to comprehensively exert their respective competences and guarantee the rights of the Union to ensure sound financial management and to protect its financial interests.
Amendment 320 #
(45a) The investments under InvestEU should be safe and maintain sound financial management, therefore anti- fraud policies should be ensured and further enhanced. Special provisions should be defined to exclude off-shore companies and companies based in “non- cooperating” countries. Cooperation with the European Anti-Fraud Office (OLAF) and the European Court of Auditors should be ensured to that end.
Amendment 321 #
Proposal for a regulation Recital 46 (46) In order to supplement the non- essential elements of this Regulation with investment guidelines, which should be developed by the Commission in close cooperation with the implementing partners under the InvestEU Programme after conducting open public consultations, with which financing and investment operations should comply, to facilitate a prompt and flexible adaptation of the performance indicators and to adjust of the provisioning rate, the power to adopt acts in accordance with Article 290 of the TFEU should be delegated to the Commission in respect of drawing-up the investment guidelines for the financing and investment operations under different policy windows, the amendment of Annex III to this Regulation to review or complement the indicators and the adjustment of the provisioning rate. In line with the principle of proportionality such investment guidelines should include adequate provisions to avoid undue administrative burden. It is of particular importance that the Commission carry out appropriate open public consultations during its preparatory work, including at expert level, and that those
Amendment 322 #
Proposal for a regulation Recital 46 (46) In order to supplement the non- essential elements of this Regulation with guidance for promoters requesting financing regarding the provision of adequate information concerning climate, environmental and social sustainability proofing of financing and investment operations and with investment guidelines with which financing and investment operations should comply, to facilitate a prompt and flexible adaptation of the performance indicators and to adjust of the provisioning rate, the power to adopt acts in accordance with Article 290 of the TFEU should be delegated to the Commission in respect of drawing-up the investment guidelines for the financing and investment operations under different policy windows, the amendment of Annex III to this Regulation
Amendment 323 #
Proposal for a regulation Recital 47 (47) The InvestEU Programme should address
Amendment 324 #
Proposal for a regulation Recital 47 (47) The InvestEU Programme should address EU-wide market and coordination failures and sub-
Amendment 325 #
Proposal for a regulation Article 1 – paragraph 1 This Regulation establishes the InvestEU Fund providing for an EU guarantee for financing and investment operations carried out by
Amendment 326 #
Proposal for a regulation Article 1 – paragraph 2 This Regulation also establishes an advisory support mechanism to support the development of investable and sustainable projects and access to financing and to provide related capacity building (‘InvestEU Advisory Hub’). It also establishes a database granting visibility to projects for which project promoters seek financing and which provides investors with information about investment opportunities (‘InvestEU Portal’).
Amendment 327 #
(-1) 'additionality' means additionality as defined in Article 8a (new);
Amendment 328 #
Proposal for a regulation Article 2 – paragraph 1 – point 1 a (new) (1a) 'financial contribution' means a contribution from an implementing partner in the form of own risk taking capacity and own financial support to the operations covered under this Regulation;
Amendment 329 #
Proposal for a regulation Article 2 – paragraph 1 – point 1 a (new) (1a) 'EIB Group' means the European Investment Bank and its subsidiaries;
Amendment 330 #
Proposal for a regulation Article 2 – paragraph 1 – point 1 b (new) (1b) 'additionality' means additionality in investment decisions as defined in Article 7a.
Amendment 331 #
Proposal for a regulation Article 2 – paragraph 1 – point 2 a (new) (2a) 'financial contribution' means a contribution from an implementing partner in the form of own risk taking capacity and/or financial support to an operation covered by this Regulation;
Amendment 332 #
Proposal for a regulation Article 2 – paragraph 1 – point 4 a (new) (4a) 'Investment platforms' means special purpose vehicles, managed accounts, contract-based co-financing or risk-sharing arrangements or arrangement established by any other means, by which entities channel a financing contribution in order to finance a number of investment projects, and which may include: (a) national or sub-national platforms that group together several investment projects on the territory of a given Member state; (b) multi-country or regional platforms that group together partners from different Member States, including from third countries, interested in projects in a given geographic area; (c) thematic platforms that group together investment projects in a given sector;
Amendment 333 #
Proposal for a regulation Article 2 – paragraph 1 – point 4 a (new) (4a) 'energy efficiency first' means taking utmost account, in energy planning, policy and investment decisions, of alternative cost-efficient energy efficiency measures to make energy demand and energy supply more efficient, in particular by means of cost-effective energy end-use savings, demand-side response initiatives and more efficient conversion, transmission and distribution of energy, whilst still achieving the objectives of the respective decisions.
Amendment 334 #
Proposal for a regulation Article 2 – paragraph 1 – point 4 a (new) (4a) 'proposals' means programmes, platforms or projects submitted by implementing partners for coverage under the EU guarantee and described in the guarantee agreement;
Amendment 335 #
Proposal for a regulation Article 2 – paragraph 1 – point 5 Amendment 336 #
Proposal for a regulation Article 2 – paragraph 1 – point 5 (5) 'Funds under shared management' means funds that foresee the possibility of allocating an amount thereof to the provisioning of a budgetary guarantee under the Member State compartment of the InvestEU Fund, namely the European Regional Development Fund (ERDF),
Amendment 337 #
Proposal for a regulation Article 2 – paragraph 1 – point 5 (5) 'Funds under shared management' means funds that foresee the possibility of voluntarily allocating an amount thereof to the provisioning of a budgetary guarantee under the Member State compartment of the InvestEU Fund, namely the European Regional Development Fund (ERDF), the European Social Fund+ (ESF+), the Cohesion Fund, the European Maritime and Fisheries Fund (EMFF) and the European Agriculture Fund for Rural
Amendment 338 #
Proposal for a regulation Article 2 – paragraph 1 – point 7 (7) 'implementing partner' means the (i) the EIB Group under the EIB window of the EU compartment, (ii) the National Promotional Banks or Institutions (NPBIs) and other eligible implementing partners with whom a guarantee agreement is signed under the NPBI window of the EU compartment or (iii) eligible counterpart such as a financial institution or other intermediary with whom
Amendment 339 #
Proposal for a regulation Article 2 – paragraph 1 – point 7 (7) 'implementing partner' means the (i) the EIB Group under the EIB Window of the EU compartment (ii) the National Promotional Banks or Institutions (NPBI) and other eligible implementing partners with whom a guarantee agreement is signed under the NPBI Window of the EU compartment or (iii) eligible counterpart such as a financial institution or other intermediary with whom
Amendment 340 #
Proposal for a regulation Article 2 – paragraph 1 – point 7 (7) 'implementing partner' means the (i) the EIB Group under the EIB Window of the EU compartment (ii) the National Promotional Banks or Institutions (NPBI) with whom a guarantee agreement is signed under the NPBI Window of the EU compartment or (iii) eligible counterpart such as a financial institution or other intermediary with whom
Amendment 341 #
Proposal for a regulation Article 2 – paragraph 1 – point 7 (7) 'implementing partner' means the eligible counterpart
Amendment 342 #
Proposal for a regulation Article 2 – paragraph 1 – point 7 a (new) (7a) 'investment platforms' means special purpose vehicles, managed accounts, contract-based co-financing or risk-sharing arrangements or arrangements established by any other means by which entities channel a financial contribution in order to finance a number of investment projects, and which may include: (a) national or sub- national platforms that group together several investment projects on the territory of a given Member State; (b) multi-country or regional platforms that group together partners from several Member States or third countries interested in projects in a given geographic area; (c) thematic platforms that group together investment projects in a given sector;
Amendment 343 #
Proposal for a regulation Article 2 – paragraph 1 – point 7 a (new) (7a) 'EIB' means the European Investment Bank, the European Investment Fund or any subsidiary of the European Investment Bank;
Amendment 344 #
Proposal for a regulation Article 2 – paragraph 1 – point 7 b (new) (7b) 'Advisory Hub Partner' means the eligible counterpart with whom the Commission or the EIB as manager of the InvestEU Advisory Hub signs an agreement to implement a service provided by the InvestEU Advisory Hub;
Amendment 345 #
Proposal for a regulation Article 2 – paragraph 1 – point 10 a (new) (10a) 'Investment guidelines' means the set of criteria, based on the principles established by this Regulation with regard to general objectives, eligibility criteria and eligible instruments, used by the Investment Committee to decide in a transparent and independent manner on the use of the EU guarantee and developed by the Commission in close cooperation with the implementing partners under the InvestEU Programme after conducting open public consultations;
Amendment 346 #
Proposal for a regulation Article 2 – paragraph 1 – point 10 a (new) (10a) 'Market failure' means the inefficient allocation of resources by the market, resulting in viable projects or businesses being unable to obtain the necessary finance from market sources due to risk assessment or unreasonable terms, or resulting in speculative bubbles;
Amendment 347 #
Proposal for a regulation Article 2 – paragraph 1 – point 10 b (new) (10b) 'investment platforms' means special purpose vehicles, managed accounts, contract-based co-financing or risk-sharing arrangements or arrangements established by any other means by which entities channel a financial contribution in order to finance a number of investment projects, and which may include: (a) national or sub-national platforms that group together several investment projects on the territory of a given Member State; (b) multi-country or regional platforms that group together partners from several Member States or third countries interested in projects in a given geographic area; (c) thematic platforms that group together investment projects in a given sector; Investment platforms shall, where appropriate, bring together co-investors, public authorities, experts, education, training and research institutions, the relevant social partners and representatives of the civil society and other relevant actors at Union, national and regional levels.
Amendment 348 #
Proposal for a regulation Article 2 – paragraph 1 – point 12 Amendment 349 #
Proposal for a regulation Article 2 – paragraph 1 – point 12 Amendment 350 #
Proposal for a regulation Article 2 – paragraph 1 – point 13 (13) 'national promotional banks or institutions' (NBPI) means legal entities carrying out financial activities on a professional basis which are given a mandate by a Member State or a Member State's entity at central, regional or local level, to carry out development or promotional activities;
Amendment 351 #
Proposal for a regulation Article 2 – paragraph 1 – point 15 Amendment 352 #
(16a) 'Sub-optimal investments' means underinvestment as businesses or projects scale back, delay or abandon investment plans, or the difference between existing levels of investment and the level required to meet a policy, strategic objective or economic sustainable growth.
Amendment 353 #
Proposal for a regulation Article 2 – paragraph 1 – point 17 a (new) (17a) 'additionality' means additionality in investment decisions as defined in Article 8a.
Amendment 354 #
Proposal for a regulation Article 3 – paragraph 1 – point -a (new) (-a) The management of economic cycles in the Union;
Amendment 355 #
Proposal for a regulation Article 3 – paragraph 1 – point a (a)
Amendment 356 #
Proposal for a regulation Article 3 – paragraph 1 – point a (a)
Amendment 357 #
Proposal for a regulation Article 3 – paragraph 1 – point a (a) the competitiveness of the Union, including innovation
Amendment 358 #
Proposal for a regulation Article 3 – paragraph 1 – point a a (new) (aa) support the Member States' economic capacity, including strategic investments in Member States' specific areas;
Amendment 359 #
Proposal for a regulation Article 3 – paragraph 1 – point a a (new) (aa) the creation of high-quality jobs in the EU;
Amendment 360 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) the
Amendment 361 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) the
Amendment 362 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) the sustainability of the
Amendment 363 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) the sustainability of the Union economy and its growth, including climate change mitigation and adaptation;
Amendment 364 #
Proposal for a regulation Article 3 – paragraph 1 – point c (c)
Amendment 365 #
Proposal for a regulation Article 3 – paragraph 1 – point c (c) the social protection, resilience and
Amendment 366 #
Proposal for a regulation Article 3 – paragraph 1 – point c (c) the social infrastructure, resilience and inclusiveness of the Union including health and long-term care;
Amendment 367 #
Proposal for a regulation Article 3 – paragraph 1 – point c (c) the social innovativeness, resilience, and inclusiveness of the Union;
Amendment 368 #
Proposal for a regulation Article 3 – paragraph 1 – point c a (new) (ca) the economic, territorial and social cohesion;
Amendment 369 #
Proposal for a regulation Article 3 – paragraph 1 – point d Amendment 370 #
Proposal for a regulation Article 3 – paragraph 1 – point d (d)
Amendment 371 #
Proposal for a regulation Article 3 – paragraph 1 – point d (d)
Amendment 372 #
(da) achieving the climate objectives and international commitments of the Union, as well as delivering long-term environmental and societal benefits.
Amendment 373 #
Proposal for a regulation Article 3 – paragraph 2 – point b (b) to support financing and investment operations in
Amendment 374 #
Proposal for a regulation Article 3 – paragraph 2 – point b (b) to support financing and investment operations in research, innovation, the circular economy and digitisation;
Amendment 375 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) to increase the access to and the availability of finance for SMEs
Amendment 376 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) to increase the access to and the availability of finance for SMEs and
Amendment 377 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) to increase the access to and the availability of finance for SMEs and
Amendment 378 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) to increase the access to and the availability of finance for innovative start- ups, SMEs and, in duly justified cases, for
Amendment 379 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) to increase the access to and the availability of finance for micro- enterprises, SMEs and, in duly justified cases, for small mid-cap companies;
Amendment 380 #
Proposal for a regulation Article 3 – paragraph 2 – point d (d) to increase the access to and the availability of microfinance and finance
Amendment 381 #
Proposal for a regulation Article 3 – paragraph 2 – point d a (new) (da) to support building renovation, including but not limited to refurbishment of building projects, investment platforms, pre-financing schemes contributing to the renovation of buildings focused on energy savings, the deployment of decentralised renewable energy and the integration of buildings into a connected energy, storage, digital and transport system
Amendment 382 #
Proposal for a regulation Article 3 – paragraph 2 – point d a (new) (da) to provide incentives, increase and support financing and investment operations in particular from the philanthropy, venture philanthropy and social investment community in the social investment and skills policy window in the areas referred to in point (d) of Article 7(1).
Amendment 383 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 1 The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR 38 000 000 000 (current prices)
Amendment 384 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 1 The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR
Amendment 385 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 1 The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR 3
Amendment 386 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 1 The EU guarantee for the purposes of the
Amendment 387 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 1 The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR
Amendment 388 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 1 The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR
Amendment 389 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 1 a (new) The EIB shall report annually to the European Parliament on the functioning of the guarantee.
Amendment 390 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 1 b (new) The Commission shall provide a mid-term review and propose the necessary upward budgetary changes.
Amendment 391 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 2 An additional amount of the EU guarantee may be provided for the purposes of the Member State compartment referred to in point (b) of Article 8(1)
Amendment 392 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 2 An additional amount of the EU guarantee may be provided for the purposes of the Member State compartment referred to in point (b) of Article 8(1), subject to the allocation by Member States, pursuant to [Article 10(1)] of Regulation [[CPR] number]28 and Article [75(1)] of Regulation [[CAP plan] number]29 , of the corresponding amounts. The InvestEU programme shall aim at covering the highest risk tranche for the projects that are financed with an additional amount.
Amendment 393 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 2 An additional amount of the EU guarantee may be provided for the purposes of the Member State compartment referred to in point (b) of Article 8(1), subject to the allocation by Member States, pursuant to [Article 10(1)] of Regulation [[CPR] number]28 and Article [75(1)] of Regulation [[CAP plan] number]29 , of the corresponding amounts.
Amendment 394 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 2 An additional amount of the EU guarantee may be provided for the purposes of the Member State compartment referred to in point (b) of Article 8(1), subject to the allocation by the competent national or regional Member State
Amendment 395 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 2 a (new) Financial contributions by Member States under the Member State compartment, including contributions in the form of guarantees and cash or any contributions to investment platforms, shall be fully deducted from the relevant deficit targets of the Stability and Growth Pact.
Amendment 396 #
Proposal for a regulation Article 4 – paragraph 2 2. The indicative distribution of the amount referred to in the first subparagraph of paragraph 1 is set out in Annex I to this Regulation. The Commission, by means of delegated acts, may modify the amounts referred to in that Annex I, where appropriate, by up to 1
Amendment 397 #
Proposal for a regulation Article 4 – paragraph 3 3. The financial envelope for the implementation of the measures provided in Chapters V and VI shall be EUR
Amendment 398 #
Proposal for a regulation Article 4 – paragraph 3 3. The financial envelope for the implementation of the measures provided in Chapters V and VI shall be EUR
Amendment 399 #
Proposal for a regulation Article 4 – paragraph 3 3. The financial envelope for the implementation of the measures provided in Chapter
Amendment 400 #
Proposal for a regulation Article 6 – paragraph 2 a (new) 2a. Blending operations combining support under this Regulation shall be as seamless as possible.
Amendment 401 #
Proposal for a regulation Article 7 – paragraph -1 (new) -1. Additionality For the purposes of this Regulation, 'additionality' means support by the InvestEU Fund for operations which address market failures or sub-optimal investment situations and which could not have been carried out during the period in which the EU guarantee can be used, or not to the same extent, by the private sector or by implementing partners without InvestEU Fund support.
Amendment 402 #
Proposal for a regulation Article 7 – paragraph 1 – introductory part 1. The InvestEU Fund shall operate through the following f
Amendment 403 #
Proposal for a regulation Article 7 – paragraph 1 – introductory part 1. The InvestEU Fund shall operate through the following four policy windows that shall address market failures and/or sub-
Amendment 404 #
Proposal for a regulation Article 7 – paragraph 1 – introductory part 1. The InvestEU Fund shall operate through the following four policy windows that shall address market failures and/or sub-
Amendment 405 #
(a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport,
Amendment 406 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the
Amendment 407 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, including energy interconnection, energy efficiency, and renewables, digital connectivity, supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 408 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, digital
Amendment 409 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) sustainable infrastructure policy window: comprises sustainable investment in the areas of transport, energy, digital connectivity, cultural heritage supply and processing of raw materials, space, oceans and water, waste, nature and other environment infrastructure, equipment, mobile assets and deployment of innovative technologies that contribute to the environmental or social sustainability objectives of the Union, or to both, or meet the environmental or social sustainability standards of the Union;
Amendment 410 #
Proposal for a regulation Article 7 – paragraph 1 – point a a (new) (aa) building renovation policy window: comprises finance of individual or aggregated refurbishment of buildings projects, investment platforms, pre- financing schemes with on-bill or on-tax repayment contributing to the renovation of buildings focused on energy savings, the deployment of decentralised renewable energy and the integration of buildings into a connected energy, storage digital and transport system.
Amendment 411 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative
Amendment 412 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation and digitisation policy window: comprises research and innovation activities, transfer of research results to the market, demonstration and deployment of innovative solutions and support to scaling up of innovative companies
Amendment 413 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) research, innovation and digitisation policy window: comprises research, product development and innovation activities, transfer of research and technologies results to the market and public institutions, supporting market enablers and cooperation between enterprises, including regulatory systems, demonstration and deployment of innovative solutions and support to scaling up of innovative companies other than SMEs with regard to the net-zero carbon economy, resilience and adaptation to climate change, on the circular economy, as well as digitisation of Union industry;
Amendment 414 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) MSME
Amendment 415 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) SMEs policy window: access to and availability of finance for
Amendment 416 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) SMEs policy window: access to and availability of finance for SMEs and, in duly justified cases, for small mid-cap companies, in particular to environment- friendly production processes, resource and energy efficiency and other climate relevant projects, and female entrepreneurship;
Amendment 417 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) SMEs policy window: access to and availability of finance for SMEs and, in duly justified cases, for small mid-cap companies; designing products which respond to particular challenges faced by SMEs in need of capital to expand their operations ;
Amendment 418 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) SMEs policy window: access to and availability of finance for micro- enterprises, SMEs and, in duly justified cases, for small mid-cap companies;
Amendment 419 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy and gender equality and active participation of women and vulnerable groups; skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities with a social goal; integration of vulnerable people, including third country nationals.
Amendment 420 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) social investment and skills policy window: comprises microfinance, social enterprise finance and social economy; skills, education, training and related services; social infrastructure (including social and student housing); social innovation; health and long-term care; inclusion and accessibility; cultural activities in particular with a social goal; integration of vulnerable people, including third country nationals.
Amendment 421 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations under
Amendment 422 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations under the sustainable infrastructure policy window 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
Amendment 423 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations under the
Amendment 424 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations under the sustainable infrastructure policy window 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 and avoiding any operations involving intensive fossil fuel infrastructures. Projects below a certain size defined in the guidance shall be excluded from the proofing.
Amendment 425 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 1 Financing and investment operations under the sustainable infrastructure policy
Amendment 426 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – introductory part The Commission guidance shall go beyond current carbon pricing and CO2 footprint methodologies and allow to:
Amendment 427 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – introductory part The
Amendment 428 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point a (a) as regards adaptation, ensure the resilience to the potential adverse impacts of climate change through a climate vulnerability and risk assessment, including relevant adaptation measures, and, as regards mitigation, integrate the cost of greenhouse gas emissions and the positive effects of climate mitigation measures in the cost-benefit analysis, and ensure compliance with the EU environmental objectives and standards;
Amendment 429 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point a (a) as regards adaptation, ensure the resilience to the potential adverse impacts of climate change through a climate vulnerability and risk assessment, including relevant adaptation measures, and, as regards mitigation, integrate the cost of greenhouse gas emissions and the positive effects of climate mitigation measures in the cost-benefit analysis and ensure compliance with EU environmental objectives and standards;
Amendment 430 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point b (b) account for consolidated project impact in terms of the principal components of the natural capital relating to air, water, land, soil and biodiversity;
Amendment 431 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point b a (new) (ba) rule out support for any fossil fuel infrastructure, including related to production, processing, transmission, distribution, storage or combustion of fossil fuels;
Amendment 432 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point b a (new) Amendment 433 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point b b (new) (bb) rule out support for projects leading to significant greenhouse gas emissions accounted in line with improved greenhouse gasses emission accounting system for the entire project lifecycle assessment compatible with the 1.5ºC objective of the Paris Agreement;
Amendment 434 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point b c (new) (bc) undertake an assessment whether cost-efficient, technically, economically and environmentally sound alternative energy efficiency measures, by means of cost-effective energy end-use savings, demand-side response initiatives and more efficient conversion, transmission and distribution of energy, could replace in whole or in part the proposed operation whilst still achieving the objectives of the respective undertaking, in line with the Regulation of the European Parliament and of the Council on the Governance of the Energy Union;
Amendment 435 #
Proposal for a regulation Article 7 – paragraph 3 – subparagraph 2 – point c a (new) (ca) as regards the sectors referred to in point 8 in Annex 2, fully take into account the specificities of such sectors and foresee, for such financing and investment operations, at least the following: (i) types of loans suitable for promoting investments in tangible and intangible assets, with the exclusion of personal collateral; business transfers; working capital (such as interim finance, gap finance, cash flow, credit lines); (ii) the capacity to build a diversified loan portfolio and to propose a marketing and promotion plan to micro-enterprises, SMEs, and micro-, small- and medium- sized organisations across regions and sectors; (iii) financial intermediaries with additional expertise to evaluate the specific risks associated with micro- enterprises, SMEs, and micro-, small- and medium-sized organisations and with the cultural and creative projects.
Amendment 436 #
Proposal for a regulation Article 7 – paragraph 4 4. Implementing partners shall provide the information necessary to allow the tracking of investment that contributes to meeting the Union objectives on climate and environment, based on the guidance to be provided by the Commission in accordance with paragraph (3), fully complying with the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment] for determining whether an economic activity is environmentally sustainable and being complementary to the role of the Platform on sustainable finance which shall monitor and report regularly to the Commission on capital flows towards sustainable investments..
Amendment 437 #
Proposal for a regulation Article 7 – paragraph 4 a (new) 4a. The SMEs policy window shall further develop the different EU guarantee facilities merged under Invest EU, in particular the Cultural and Creative Sectors Guarantee Facility from the Creative Europe Programme.
Amendment 438 #
Proposal for a regulation Article 7 – paragraph 5 5. Implementing partners shall
Amendment 439 #
Proposal for a regulation Article 7 – paragraph 5 5. Implementing partners shall target that at least
Amendment 440 #
Proposal for a regulation Article 7 – paragraph 5 a (new) 5a. As to ensure the climate mainstreaming objectives stipulated in this Regulation are fulfilled, the Commission shall put in place a centrally managed system for climate tracking for allocated resources and the actual spending based on the Rio Marker system, differentiating between mitigation and adaptation and the different sectors and its GHG emissions reduction.
Amendment 441 #
Proposal for a regulation Article 7 – paragraph 5 b (new) 5b. As to ensure required level of financing, at least 10% of the investment under InvestEU policy windows and in both EU and Member State compartments must be allocated for the "Environment and resources" eligible area.
Amendment 442 #
Proposal for a regulation Article 7 – paragraph 6 6. The Commission is empowered to adopt delegated acts in accordance with Article 26 to define the investment
Amendment 443 #
Proposal for a regulation Article 7 – paragraph 6 a (new) 6a. Whenever the Commission provides additional information on the interpretation of the investment guidelines, the Commission shall make the same information available to the InvestEU Advisory Hub, the implementing partners and the Investment Committee.
Amendment 444 #
Proposal for a regulation Article 7 a (new) Amendment 445 #
Proposal for a regulation Article 7 a (new) Amendment 446 #
Proposal for a regulation Article 7 a (new) Article 7a Additionality For the purposes of this Regulation, 'additionality' means support by the InvestEU Fund for operations which address market failures or sub-optimal investment situations and which could not have been carried out during the period in which the EU guarantee can be used, or not the same extent, by implementing partners without InvestEU Fund support. The InvestEU Fund shall support the objectives laid down in Article 3, shall strive to create employment and sustainable growth and shall typically have a higher risk profile than projects supported by normal operations of the implementing partners. Overall, the InvestEU Fund portfolio shall ideally have a higher risk profile than the portfolio of investments supported by the implementing partners under their normal investment policies before the entry into force of this Regulation.
Amendment 447 #
Proposal for a regulation Article 7 a (new) Amendment 448 #
Proposal for a regulation Article 7 a (new) Article 7a Additionality For the purposes of this Regulation, 'additionality' means support by the InvestEU Fund for operations which address Union wide or (sub)national market failures or sub-optimal investment situations and which could not have been carried out during the period in which the EU guarantee can be used, or not to the same extent, by implementing partners without InvestEU Fund support.
Amendment 449 #
Proposal for a regulation Article 7 a (new) Article 7a Additionality For the purposes of this Regulation 'additionality' means the support by the InvestEU Fund to financing and investment operations which address market failures or sub-optimal investment situations and which could not have been carried out during the period in which the EU guarantee can be used, or not to the same extent, by implementing partners without the InvestEU Fund.
Amendment 450 #
Proposal for a regulation Article 8 Amendment 451 #
Proposal for a regulation Article 8 – paragraph 1 – introductory part 1. Each policy window referred to in Article 7(1) shall consist of two compartments
Amendment 452 #
Proposal for a regulation Article 8 – paragraph 1 – introductory part 1.
Amendment 453 #
Proposal for a regulation Article 8 – paragraph 1 – introductory part 1. Each policy window referred to in Article 7(1) shall consist of two compartments: the EU compartment and the Member State compartment. These shall both address
Amendment 454 #
Proposal for a regulation Article 8 – paragraph 1 – introductory part 1. Each policy window referred to in Article 7(1) shall consist of two compartments addressing public investment needs, specific market failures, or sub-optimal investment situations as follows:
Amendment 455 #
Proposal for a regulation Article 8 – paragraph 1 – introductory part 1. Each policy window referred to in Article 7(1) shall consist of two compartments addressing specific market and coordination failures or sub-optimal investment situations as follows:
Amendment 456 #
Proposal for a regulation Article 8 – paragraph 1 – point a – introductory part (a) the
Amendment 457 #
Proposal for a regulation Article 8 – paragraph 1 – point a – introductory part (a) the EU compartment shall consist of two investment windows, the EIB window and the address any of the following situations NPBI window, and shall address any of the following situations:
Amendment 458 #
Proposal for a regulation Article 8 – paragraph 1 – point a – introductory part (a) the EU compartment shall consist of two investment windows, the EIB window and NPBI window, and shall address any of the following situations:
Amendment 459 #
Proposal for a regulation Article 8 – paragraph 1 – point a – introductory part (a) the EU
Amendment 460 #
Proposal for a regulation Article 8 – paragraph 1 – point a – point i (i) market failures or sub-optimal investment situations related to Union policy priorities
Amendment 461 #
Proposal for a regulation Article 8 – paragraph 1 – point a – point i (i) market and coordination failures or sub-optimal investment situations related to Union policy priorities and addressed at the Union level;
Amendment 462 #
Proposal for a regulation Article 8 – paragraph 1 – point a – point i a (new) (ia) public investment needs in terms of health, education, culture, sanitation, transport and communication networks, energy, spatial planning, and protection of rural areas;
Amendment 463 #
Proposal for a regulation Article 8 – paragraph 1 – point a – point ii (ii) Union wide market and coordination failures or sub-
Amendment 464 #
Proposal for a regulation Article 8 – paragraph 1 – point a – point iii (iii) new or complex market and coordination failures or sub-optimal investment situations with a view to developing new financial solutions and market structures;
Amendment 465 #
Proposal for a regulation Article 8 – paragraph 1 – point b (b) the
Amendment 466 #
Proposal for a regulation Article 8 – paragraph 1 – point b (b) the Member State compartment shall
Amendment 467 #
Proposal for a regulation Article 8 – paragraph 1 – point b (b) the Member State compartment shall address specific market and coordination failures or sub-optimal investment situations in one or several Member States to deliver objectives of the contributing Funds under shared management.
Amendment 468 #
Proposal for a regulation Article 8 – paragraph 2 2. The compartments referred to in paragraph 1
Amendment 469 #
Proposal for a regulation Article 8 – paragraph 2 a (new) 2a. The Commission is empowered to adopt delegated acts in accordance with Article 26 to define market and coordination failures and sub-optimal investment situations referred to in paragraph 1 after receiving advice from the Advisory board.
Amendment 470 #
Proposal for a regulation Article 8 a (new) Article 8a Additionality 1. For the purposes of this Regulation, ‘additionality’ means the support by the InvestEU Fund of operations which address market failures or sub-optimal investment situations, including long-term return on investments or higher risk financing needs for projects delivering long term environmental and societal benefits, and which could not have been carried out during the period in which the EU guarantee can be used, or not to the same extent, by implementing partners without InvestEU Fund support. Projects supported by the InvestEU Fund shall support the objectives laid down in Article 3. 2. Without prejudice to the requirement to meet the definition of additionality as set out in the first subparagraph, the following elements are strong indications of additionality: – projects proposed that carry a risk corresponding to EIB special activities, as defined in Article 16 of the EIB Statute, or an equivalent level of risk, especially if such projects present country-, sector- or region-specific risks, in particular those experienced in less developed regions and transition regions and/or if such projects present risks associated with innovation, in particular in growth-, sustainability- and productivity-enhancing unproven technologies; – projects proposed by implementing partners considered by the Investment Committee to carry a level of risk equivalent to that described in the first indent of this subparagraph.
Amendment 471 #
Proposal for a regulation Article 8 a (new) Article 8a Additionality 1. For the purposes of this Regulation, 'additionality' means the support by the InvestEU Fund of operations which address market failures or sub-optimal investment situations and which cannot be carried out during the period in which the EU guarantee can be used, or not to the same extent, by implementing partners without InvestEU Fund support. Projects supported by the InvestEU Fund shall contribute to the objectives laid down in Article 3 and shall boost the creation of employment and sustainable growth. 2. Without prejudice to the requirement set in paragraph 1, 'additionality' shall also be considered to exist in projects proposed by the EIB or implementing partners that carry a risk corresponding or equivalent to the EIB special activities, as defined in Article 16 of the EIB Statute.
Amendment 473 #
Proposal for a regulation Article 9 – paragraph 1 Amendment 474 #
Proposal for a regulation Article 9 – paragraph 1 1.
Amendment 475 #
Proposal for a regulation Article 9 – paragraph 1 1. Amounts allocated by a Member State under Article [10(1)] of Regulation [[CPR] number] or Article [75(1)] of Regulation [[CAP plan] number] shall be used for the provisioning of the part of the EU guarantee under the Member State compartment covering financing and investment operations in the Member State concerned or in the territory of the regional or local authority managing the contributing funds. Member States can exercise this option only starting from the 1st of January 2024. They can use up to 3% of the financial envelope of each fund under shared management defined in article 2 (5) of the Regulation.
Amendment 476 #
Proposal for a regulation Article 9 – paragraph 1 1. Amounts allocated by a Member State under Article [10(1)] of Regulation [[CPR] number] or Article [75(1)] of
Amendment 477 #
Proposal for a regulation Article 9 – paragraph 1 1. Amounts allocated by a Member State under Article [10(1)] of Regulation [[CPR] number] or Article [75(1)] of Regulation [[CAP plan] number], or if applicable by a region, shall be used for the provisioning of the part of the EU guarantee under the Member State compartment covering financing and investment operations in the Member State or region concerned.
Amendment 478 #
Proposal for a regulation Article 9 – paragraph 1 a (new) 1a. Member States may contribute to the Member State compartment in the form of guarantees or cash. The amount to be contributed to the Member State compartment shall not exceed [X %] of the total endowment of the compartment. Those contributions may only be called for payments of guarantee calls after the funding under the first subparagraph of Article 4(1).
Amendment 479 #
Proposal for a regulation Article 9 – paragraph 1 a (new) 1a. Where a regional or local authority managed funds under shared management, the Member State that wants to allow the use of those funds in the InvestEU programme shall conclude a specific agreement with the concerned regional or local authority. Such agreement may provide for investment activities on the territory of the region or local authority.
Amendment 480 #
Proposal for a regulation Article 9 – paragraph 2 – subparagraph 1 The establishment of that part of the EU guarantee under the Member State compartment shall be subject to the conclusion of a contribution agreement
Amendment 481 #
Proposal for a regulation Article 9 – paragraph 2 – subparagraph 2 Amendment 482 #
Proposal for a regulation Article 9 – paragraph 2 – subparagraph 2 Amendment 483 #
Proposal for a regulation Article 9 – paragraph 3 – point a (a) the overall amount of the part of the EU guarantee under the Member State compartment pertaining to the Member State, its provisioning rate, the amount of the contribution from
Amendment 484 #
Proposal for a regulation Article 9 – paragraph 3 – point a (a) the overall amount of the part of the EU guarantee under the Member State compartment pertaining to the Member State, its provisioning rate, the amount of the contribution from Funds under shared management, the constitution phase of the provisioning in accordance with an annual financial plan and the amount of the resulting contingent liability to be covered by a back-to-back guarantee provided by the Member State concerned
Amendment 485 #
Proposal for a regulation Article 9 – paragraph 3 – point a (a) the overall amount of the part of the EU guarantee under the Member State compartment pertaining to the Member State or region, its provisioning rate, the amount of the contribution from Funds under shared management, the constitution phase of the provisioning in accordance with an annual financial plan and the amount of the resulting contingent liability to be covered by a back-to-back guarantee provided by the Member State or region concerned;
Amendment 486 #
Proposal for a regulation Article 9 – paragraph 3 – point a a (new) (aa) identified market and coordination failures and sub-optimal investment situations which should be addressed by the financed operations;
Amendment 487 #
Proposal for a regulation Article 9 – paragraph 3 – point c (c) the implementing partner or partners which have expressed their interest and the obligation of the Commission to inform the Member State and, if applicable, the competent regional body, about the implementing partner or partners selected;
Amendment 488 #
Proposal for a regulation Article 9 – paragraph 3 – point d (d) the possible contribution from
Amendment 489 #
Proposal for a regulation Article 9 – paragraph 3 – point d (d) the possible contribution from Funds under shared management to investment platforms and the InvestEU Advisory Hub;
Amendment 490 #
Proposal for a regulation Article 9 – paragraph 3 – point e (e) the annual reporting obligations towards the Member State ,or if applicable, the competent regional body, including reporting in accordance with the indicators referred to in the contribution agreement;
Amendment 491 #
Proposal for a regulation Article 9 – paragraph 4 – subparagraph 2 Where, within nine months from the signature of the contribution agreement, no guarantee agreement has been concluded or the amount of a contribution agreement is not fully committed through one or more guarantee agreements, the contribution agreement shall be terminated in the first case or amended accordingly in the second case and the unused amount of provisioning re-used
Amendment 492 #
Proposal for a regulation Article 9 – paragraph 4 – subparagraph 3 Amendment 493 #
Proposal for a regulation Article 9 – paragraph 5 – point a (a) after the constitution phase referred to in point (a) of paragraph 3 of this Article, any annual surplus of provisions, calculated by comparing the amount of provisions required by the provisioning rate and the actual provisions, shall be re- used
Amendment 494 #
Proposal for a regulation Article 9 – paragraph 5 – point d Amendment 495 #
Proposal for a regulation Article 9 – paragraph 5 – point d (d) if the level of provisions for that part of the EU guarantee under the Member State compartment reaches 10 % of the initial provisioning, the Member State or region concerned shall provide to the common provisioning fund up to 5 % of the initial provisioning upon request by the Commission.
Amendment 496 #
Proposal for a regulation Article 9 – paragraph 5 a (new) 5a. Without prejudice to the prerogatives of the Council in the implementation of the Stability and Growth Pact (SGP), contributions by Member States in the form of guarantees or cash into the Member State compartment, or contribution either by a Member State or by national promotional banks classified in the general government sector or acting on behalf of a Member State into investment platforms, shall not qualify as one-off measures, within the meaning of Article 5 of Council Regulation (EC) No 1466/97 and Article 3 of Council Regulation (EC) No 1467/97.
Amendment 497 #
Proposal for a regulation 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; (d) where a Member State is experiencing a large asymmetric shock.
Amendment 498 #
Proposal for a regulation 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 499 #
Proposal for a regulation Article 10 – paragraph 1 1. The EU guarantee under the InvestEU Fund 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.
Amendment 500 #
Proposal for a regulation 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 guarantee shall be irrevocable, unconditional and on first demand to any eligible implementing partner for the financing and investment operation.
Amendment 501 #
Proposal for a regulation Article 10 – paragraph 1 a (new) Amendment 502 #
Proposal for a regulation Article 10 – paragraph 1 a (new) 1a. In order to ensure programme consistency, the EU guarantee should be managed in partnership between the European Commission and the EIB Group and should provide for: (a) a robust mechanism for its prompt utilisation; (b) a duration consistent with the final maturity of the last receivable from the final beneficiary; (c) an adequate risk and guarantee portfolio monitoring; (d) a reliable mechanism for the estimation of expected cash-flows in case it is availed of; (e) adequate documentation regarding risk management decisions; (f) adequate flexibility regarding the way the guarantee is used, allowing implementing partners to benefit directly from the guarantee when/if needed, in particular in the absence of an additional guarantee scheme; (g) the fulfilment of all the additional requirements requested by the relevant regulatory supervisor, if any, for being considered as an effective full risk mitigation.
Amendment 503 #
Proposal for a regulation Article 10 – paragraph 1 a (new) Amendment 504 #
Proposal for a regulation Article 10 – paragraph 1 a (new) Amendment 505 #
Proposal for a regulation Article 10 – paragraph 1 a (new) 1a. The EU guarantee under the EU compartment shall be allocated to implementing partners. A major part of the EU guarantee under the EU compartment shall be allocated to the EIB Group or to implementing partner or partners that can offer financial products under the InvestEU Fund in all Member States. At least 25% of the EU guarantee may be made available to the EIB Group or to implementing partner or partners that can offer financial products under the InvestEU Fund in all Member States only in the event that national promotional banks or institutions cannot use this share of the guarantee. National promotional banks or institutions may fully benefit from the EU guarantee also in case they decide to access to it through the EIB or the European Investment Fund.
Amendment 506 #
Proposal for a regulation Article 10 – paragraph 1 a (new) 1a. The EU guarantee under the EU compartment shall be allocated to implementing partners. At least 75% of the EU guarantee under the EU compartment shall be allocated to the EIB Group. Amounts exceeding 75% of the EU guarantee may be made available to the EIB Group in the event that national promotional banks or institutions cannot fully use the remaining share of the guarantee. Likewise, amounts exceeding 25% of the EU guarantee may be made available to other implementing partners in the event that the EIB Group cannot fully use its share of the guarantee. National promotional banks or institutions may fully benefit from the EU guarantee also in case they decide to access to it through the EIB or the European Investment Fund.
Amendment 507 #
Proposal for a regulation Article 10 – paragraph 1 a (new) 1a. The EU guarantee under the EU compartment shall be allocated to implementing partners. At least 75% of the EU guarantee under the EU compartment shall be allocated to the EIB Group while in principal 25% of the EU guarantee shall be made available to other implementing partners. In the event that other implementing partners than the EIB Group cannot fully use their share of the guarantee and following a debate in the Steering Board, specific amounts exceeding 75% of the EU guarantee may be made available to the EIB Group. National promotional banks or institutions may fully benefit from the EU guarantee also in case they decide to access to it through the EIB or the European Investment Fund.
Amendment 508 #
Proposal for a regulation Article 10 – paragraph 1 a (new) 1a. The EU guarantee under the EU compartment shall be allocated to implementing partners. At least 75% of the EU guarantee under the EU compartment shall be allocated to the EIB Group under the EIB Window of the EU compartment. Amounts exceeding 75% of the EU guarantee may be made available to the EIB Group in the event that national promotional banks or institutions cannot fully use the remaining share of the guarantee. National promotional banks or institutions may fully benefit from the EU guarantee also in case they decide to access it through the EIB or the European Investment Fund.
Amendment 509 #
1a. The EU guarantee under the EU compartment shall be allocated to implementing partners. At least EUR 30 000 000 000 of the EU guarantee under the EU compartment shall be allocated to the EIB Group. Amounts exceeding EUR 30 000 000 000 of the EU guarantee may be made available to the EIB Group in the event that national promotional banks or institutions cannot fully use the remaining share of the guarantee. National promotional banks or institutions may fully benefit from the EU guarantee also in case they decide to access to it through the EIB or the European Investment Fund.
Amendment 510 #
Proposal for a regulation Article 10 – paragraph 1 a (new) 1a. A portion of 75% of the EU guarantee under the EU compartment should be allocated to implementing partners that are offer financial products under the InvestEU Fund in all Member States. The remaining part of the guarantee should be allocated to other eligible implementing partners.
Amendment 511 #
Proposal for a regulation Article 10 – paragraph 1 b (new) 1b. The EU guarantee under the EU compartment shall be allocated to implementing partners. at least 75% of the EU guarantee under the EU compartment shall be allocated to the EIB. Amounts exceeding 75% of the EU guarantee may be made available to the EIB in the event that NPBIs cannot fully use the remaining share of the guarantee. In addition to having the possibility to benefiting from dedicated EIB products developed for them under EFSI, NPBIs may fully benefit from the EU guarantee also in case they decide to access to it through the EIB or the EIF.
Amendment 512 #
Proposal for a regulation Article 10 – paragraph 1 b (new) 1b. In addition, the EU guarantee should be managed by the EIB Group in close cooperation and partnership with the European Commission; therefore: (a) a separate entity should be set up within the EIB to avoid any potential conflict of interests between the tasks as EU guarantee administrator and as implementing partner; and (b) the EIB should work to ensure direct access to the EU guarantee for the other implementing partners
Amendment 513 #
Proposal for a regulation Article 10 – paragraph 1 c (new) 1c. In addition, the EU guarantee should provide for: (a) a robust mechanism for its prompt utilisation; (b) a duration consistent with the final maturity of the last receivable from the final beneficiary; (c) an adequate risk and guarantee portfolio monitoring; (d) a reliable mechanism for the estimation of expected cash-flows in case it is availed of; (e) adequate documentation regarding risk management decisions; (f) adequate flexibility regarding the way the guarantee is used, allowing implementing partners to benefit directly from the guarantee when/if needed, in particular in the absence of an additional guarantee scheme; (g) the fulfilment of all the additional requirements requested by the relevant regulatory supervisor, if any, for being considered as an effective full risk mitigation.
Amendment 514 #
Proposal for a regulation Article 10 – paragraph 2 2. Support of the EU guarantee may be granted for financing and investment operations covered by this Regulation for an investment period ending on 31 December 2027. Guarantee agreements between the EIB and implementing partners , where applicable, shall be approved by 31 December 2027. Contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in Article 13(1)(a) shall be
Amendment 515 #
Proposal for a regulation Article 10 – paragraph 2 2. Support of the EU guarantee may be granted for financing and investment operations covered by this Regulation for an investment period ending on 31 December 2027. Guarantee agreements between the EIB and implementing partners, where applicable, shall be approved by 31 December 2027. Contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in Article 13(1)(a) shall be
Amendment 516 #
Proposal for a regulation Article 10 – paragraph 2 a (new) 2a. When the implementing partner calls on the EU guarantee in accordance with a guarantee agreement or the InvestEU agreement, the Union shall pay on demand in accordance with the terms of that agreement;
Amendment 517 #
Proposal for a regulation Article 10 a (new) Amendment 518 #
Proposal for a regulation Article 10 a (new) Article 10a Additionality For the purposes of this Regulation, and without prejudice to Article 209(2) of the Financial Regulation, 'additionality' means the support by the Invest EU Fund of operations which address market and coordination failures or sub-optimal investment situations, such as long-term return on investment or higher risk financing needs for projects delivering longer-term environmental and societal benefits, and which could not have been carried out during the period in which the EU guarantee can be used, or not to the same extent, by implementing partners without InvestEU fund support. Projects supported by the InvestEU Fund shall support the objectives laid down in Article 3, shall strive to create long-term employment, public infrastructure, sustainable growth and contribute to achieving the climate objectives of the EU.
Amendment 519 #
Proposal for a regulation Article 10 a (new) Article 10a The EU guarantee under the EU compartment shall be allocated to implementing partners. At least 75% of the EU guarantee under the EU compartment shall be allocated to the EIB Group. Amounts exceeding 75% of the EU guarantee may be made available to the EIB Group in the event that national promotional banks or institutions cannot fully use the remaining share of the guarantee. In addition to having the possibility to benefiting from dedicated EIB Group products developed for them under EFSI, national promotional banks or institutions may fully benefit from the EU guarantee also in case they decide to access to it through the EIB or the European Investment Fund.
Amendment 520 #
Proposal for a regulation Article 10 b (new) Amendment 521 #
Proposal for a regulation Article 11 – paragraph 1 – introductory part 1. The InvestEU Fund shall only support financing and investment operations, both public and private, that
Amendment 522 #
Proposal for a regulation Article 11 – paragraph 1 – point a (a) comply with the conditions set out in article 10a and [points (a) to (e) of Article 209(2)] of [the Financial Regulation], in particular with the additionality requirement set out in [point (b) of Article 209(2)] of [the Financial Regulation] and, where appropriate, maximising private investment in accordance with [point (d) of Article 209(2)] of the [Financial Regulation];
Amendment 523 #
Proposal for a regulation Article 11 – paragraph 1 – point a a (new) (aa) genuinely contribute to economic, social, and territorial cohesion within and between Member States;
Amendment 524 #
Proposal for a regulation Article 11 – paragraph 1 – point a a (new) (aa) contribute to social, climate and environmental policy objectives of the Union;
Amendment 525 #
Proposal for a regulation Article 11 – paragraph 1 – point b (b) contribute to, complement and are consistent with the Union policy objectives and fall under the scope of the areas eligible for financing and investment operations under the appropriate window in accordance with Annex II to this Regulation; and
Amendment 526 #
Proposal for a regulation Article 11 – paragraph 1 – point c a (new) (ca) are economically and financially viable, while taking into account the specific operating environment;
Amendment 527 #
Proposal for a regulation Article 11 – paragraph 1 – point c b (new) (cb) are technically viable and are sustainable from an environmental and social point of view, in accordance with Annex III to this Regulation;
Amendment 528 #
Proposal for a regulation Article 11 – paragraph 1 a (new) 1a. The InvestEU Fund shall not support activities related to the production, processing, distribution, storage or combustion of fossil fuels or CO2 transport infrastructure;
Amendment 529 #
Proposal for a regulation Article 11 – paragraph 1 b (new) 1b. The InvestEU Fund shall not support activities related to the development of the defence industry;
Amendment 530 #
Proposal for a regulation Article 11 – paragraph 2 – point a a (new) (aa) local, regional, national or cross- border projects run solely by public bodies;
Amendment 531 #
Proposal for a regulation Article 11 – paragraph 3 a (new) 3a. In addressing the problem of the diverse interest rates among the Member States that result to diverse funding costs due to the different financial and fiscal conditions as well as diverse investment risks, the EIB should have the discretion to reconsider ad hoc the required minimum of 10% of the CAPEX that the project initiator should contribute by his own resources. This policy should be implemented by EIB as an instrument that neutralizes the effects of fiscal rigidities that may exist in a Member State or in a region, and create financial and liquidity frictions that undermine the demand side of the InvestEU loanable funds. Supply side instruments like InvestEU deliver better results in fiscally neutral environments. EIB shall provide a framework and general rules that will allow it to deviate from the 10% minimum policy to finance important projects with high additionality in Member states and regions characterized by additional financial risk.
Amendment 532 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 2 For the EU compartment, the eligible counterparts shall have expressed their interest
Amendment 533 #
Proposal for a regulation 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
Amendment 534 #
Proposal for a regulation 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
Amendment 535 #
Proposal for a regulation 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
Amendment 536 #
Proposal for a regulation 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
Amendment 537 #
Proposal for a regulation 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 t
Amendment 538 #
Proposal for a regulation 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
Amendment 539 #
Proposal for a regulation 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
Amendment 540 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 2 Amendment 541 #
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 three Member States. The implementing partners may also cover together financing and investment operations in at least three Member States by forming a group. This criteria is also fulfilled when the implementing partners, whose contractual responsibility is limited by their respective mandate, address the market failure or suboptimal investment situation with respective, locally adapted, comparable instruments.
Amendment 542 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 3 Amendment 543 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 3 For the Member State compartment, the competent national or regional Member State body concerned may propose one or more eligible counterparts as implementing partners from among those that have expressed their interest pursuant to Article 9(3)(c).
Amendment 544 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 4 Where the Member State or region concerned does not propose an implementing partner, the Commission shall proceed in accordance with the second subparagraph of this paragraph among those implementing partners that can cover financing and investment operations in the geographical areas concerned.
Amendment 545 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 4 a (new) Where the deployment of the Member State compartment is to target policy actions already addressed by the EU compartment through similar financing and investment operations, the Member State compartment, and the EU compartment shall have the same implementing partners;
Amendment 546 #
Proposal for a regulation Article 12 – paragraph 2 – point d (d) achieves geographical diversification by Member State and by region;
Amendment 547 #
Proposal for a regulation Article 12 – paragraph 2 – point f (f) promotes innovating financial and risk solutions to address Union-wide and/or Member State specific market failures and sub-optimal investment situations.
Amendment 548 #
(f) promotes innovating financial and risk solutions to address market and coordination failures and sub-optimal investment situations.
Amendment 549 #
Proposal for a regulation Article 12 – paragraph 2 – point f a (new) (fa) facilitates and supports access to finance for small-scale projects;
Amendment 550 #
Proposal for a regulation Article 12 – paragraph 2 – point f a (new) (fa) achieves additionality as laid out in Article 8a.
Amendment 551 #
(fa) achieves additionality as set out in Article 10a.
Amendment 552 #
Proposal for a regulation Article 12 – paragraph 3 – point b (b) the capacity of the implementing partner to implement thoroughly the requirements of [Articles 155(2) and 155(3)] of the [Financial Regulation] related to tax avoidance, tax fraud, tax evasion, money laundering, terrorism financing and non-
Amendment 553 #
Proposal for a regulation Article 12 – paragraph 3 – point b a (new) (ba) When relevant, the capacity of implementing partner to manage financial instruments, as result of a past experience with financial instruments and managing authorities referred to in regulation (EU, Euratom) 2018/1046 of the European Parliament and the Council
Amendment 554 #
Proposal for a regulation Article 12 – paragraph 3 – point b a (new) (ba) the capacity of implementing partners to integrate the analysis of environmental, social and governance factors in the evaluation of financing and investment operations;
Amendment 555 #
Proposal for a regulation Article 12 – paragraph 3 – point b b (new) (bb) the capacity of implementing partners to effectively ensure transparency and public access to information concerning each financing and investment operations;
Amendment 556 #
Proposal for a regulation Article 12 – paragraph 3 – point b c (new) (bc) for operations carried out under the sustainable infrastructure policy window, the past experience of implementing partners in the sectors of social economy and microfinance;
Amendment 557 #
Proposal for a regulation Article 12 – paragraph 4 4. National promotional banks or institutions, including local and regional promotional banks or institutions, may be selected as implementing partners, subject to fulfilling the requirements laid down in this Article and in the second subparagraph of Article 14(1).
Amendment 558 #
Proposal for a regulation Article 12 – paragraph 4 4.
Amendment 559 #
Proposal for a regulation Article 12 – paragraph 4 a (new) 4a. At the end of the investment period, the share of investment in any three Member States' national promotional banks or institutions together should not exceed 45% of the total portfolio, measured by signed loans or investment amounts.
Amendment 560 #
Proposal for a regulation Article 14 – paragraph 2 – point d (d) the remuneration for risk-taking that is to be allocated in proportion to the respective share in the risk-taking of the Union and the implementing partner, taking into account the respective shares in the risk-taking and the capacity of the final beneficiaries of covering of costs related to the implementation of financing and investment operations under the EU guarantee;
Amendment 561 #
Proposal for a regulation Article 14 – paragraph 5 Amendment 562 #
Proposal for a regulation Article 15 – paragraph 3 3.
Amendment 563 #
Proposal for a regulation Article 16 – paragraph 1 1. The remuneration for risk-taking shall be a
Amendment 564 #
Proposal for a regulation Article 16 – paragraph 1 1. The remuneration for risk-taking shall be a
Amendment 565 #
Proposal for a regulation Article 16 – paragraph 1 1. The remuneration for risk-taking shall be allocated between the Union and an implementing partner in proportion to their respective share in the risk-taking of a portfolio of financing and investment operations or, where relevant, of individual operations, and shall be related to the risk profile and the qualitative characteristics of the underlying operations, taking into account their impact and the achievement of the InvestEU policy objectives. Specific concessional terms and incentives shall be provided to reflect the need to support SMEs financing and social investment as well the viability of projects in circumstances of financial stress or asymmetric shocks in a Member State. The implementing partner shall have an appropriate exposure at its own risk to financing and investment operations supported by the EU guarantee, unless exceptionally the policy objectives targeted by the financial product to be implemented are of such nature that the implementing partner could not reasonably contribute its own risk-bearing capacity to it.
Amendment 566 #
Proposal for a regulation Article 16 – paragraph 1 a (new) 1a. The EU guarantee under the EU compartment of the InvestEU Fund shall not, at any time, exceed EUR 38 000 000 000 and the aggregate net payments from the general budget of the Union under this part of the EU guarantee shall not exceed EUR 38 000 000 000. The EU guarantee shall provide credit protection to financing and/or investment operations or portfolios thereof in the manner that enables EIB Group to optimise its implementation of the InvestEU Programme. The EU guarantee shall be eligible to provide first loss guarantees and/or mezzanine guarantees on a portfolio basis, full guarantees or other types of guarantee.
Amendment 567 #
Proposal for a regulation Article 16 – paragraph 1 b (new) 1b. Without prejudice to paragraph 1, the EU guarantee shall provide for a guarantee in respect of the EIB window of at least [EUR 28500 000 000]. In respect of the EIB window, the EIB shall determine the forms of guarantee the EU guarantee can take and the amounts thereof, in a manner that strives to achieve the objectives in Article 12(2).
Amendment 568 #
Proposal for a regulation Article 16 – paragraph 1 c (new) 1c. Without prejudice to paragraph 1, the EU guarantee shall provide for a full guarantee in respect of the NPBI window up to a limit of EUR 9 500 000 000, provided that amounts of funding or guarantees deemed satisfactory according to the guidance provided by the Steering Board pursuant to Article 18a(4)(d) are contributed to such financing and investment operations by the relevant implementing partners under the NPBI window without coverage by the EU guarantee or a guarantee by the EIB.
Amendment 569 #
Proposal for a regulation Article 16 – paragraph 2 – point b (b) for equity or quasi-equity investments referred to in Article 13(1)(a), the amounts invested and their associated funding cost and losses arising from fluctuations of currencies other than the euro where possibilities for long-term hedging are limited;
Amendment 570 #
Proposal for a regulation Article 16 a (new) Article 16a Counter-cyclical use of the InvestEU Fund 1. In order to meet the InvestEU programme objective referred to in Article 3 (-a)(new) the Commission shall assess each year during the Autumn cycle of the European Semester the overall budgetary situation and macroeconomic prospects of the Member States and the EU as a whole. 2. When the Commission’s annual forecast determines that the risk of reduction in public and private investments, affecting the economic growth of the Union exists, it shall propose to the European Parliament and the Council the use of the Invest EU fund and EU guarantee to invert this cycle. 3. The Commission is empowered to adopt a delegated act in accordance with Article 26 proposing the increase or decrease of the available EU guarantee amount for that year, the provisioning rate to be used and the new multiplier to be achieved in order to leverage additional financing.
Amendment 571 #
Proposal for a regulation Article 16 a (new) Article 16a The EIB Group aggregate contribution of own resources to the EU compartment of the InvestEU Fund shall amount to [EUR 7 125 000 000]. This contribution shall be provided in a manner and form that facilitates the implementation of the InvestEU Fund by EIB Group and the achievement of the objectives in Article12(2) and shall be deemed to satisfy Article 219 (4) of the Financial Regulation in relation to the entirety of the EU compartment.
Amendment 572 #
Proposal for a regulation Article -17 (new) Article -17 European Commission 1. The Commission shall be a single point of entry for all financing and investment operations submitted by the implementing partners. 2. The Commission shall conduct a qualitative assessment to verify: (a) the compatibility of investment and financing operations with EU law and policies; (b) the expected contribution to the policy objectives and compliance with the requirements laid down in this Regulation, including additionality; 3. In case of a positive assessment, the Commission forwards the proposal to the Project Team for a technical evaluation and a banking risk assessment. 4. The Commission shall lay down detailed rules for the functioning of the Project Team and for the verification of conflict of interest situations.
Amendment 573 #
Proposal for a regulation Article -17 (new) Article -17 All bodies participating in the decision- making and selection of projects, including the advisory board, the project team and the investment committee shall act according to the principles of transparency, integrity, accountability and guaranteed stakeholder participation, including from civil society organisations. They shall be gender-balanced and composed of independent experts from various technical backgrounds, including climate experts. Information on projects, selection procedure and decision-making, including the minutes of meetings, shall be published on a dedicated website, with the exception of commercially sensitive information, which upon request must be made available to the Members of the European Parliament and staff of political groups in a securitised reading room.
Amendment 574 #
Proposal for a regulation Article 17 – paragraph 1 1. The Commission and the Steering Board shall be advised by an advisory board which shall
Amendment 575 #
Proposal for a regulation Article 17 – paragraph 1 1. The Commission shall be advised by an advisory board which shall have two configurations, namely representatives of implementing partners
Amendment 576 #
Proposal for a regulation Article 17 – paragraph 1 1. The
Amendment 577 #
Proposal for a regulation Article 17 – paragraph 1 1. The Commission shall be advised by an advisory board which shall have two configurations, namely representatives of implementing partners and representatives of Member States. Both configuration shall strive to ensure gender balance among their Members.
Amendment 578 #
Proposal for a regulation Article 17 – paragraph 1 a (new) 1a. The Commission in cooperation with the EIB Group 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 579 #
Proposal for a regulation Article 17 – paragraph 2 a (new) 2a. Members of the European Parliament appointed by the related Committees shall have a tenure of two and a half year;
Amendment 580 #
Proposal for a regulation Article 17 – paragraph 3 3.
Amendment 581 #
Proposal for a regulation Article 17 – paragraph 4 – subparagraph 1 The advisory board meeting
Amendment 582 #
Proposal for a regulation Article 17 – paragraph 4 – subparagraph 1 The advisory board meeting of the representatives of the implementing partners shall be
Amendment 583 #
Proposal for a regulation Article 17 – paragraph 4 – subparagraph 2 Amendment 584 #
Proposal for a regulation Article 17 – paragraph 4 – subparagraph 3 a (new) The Advisory Board shall propose to the Commission modification to the distribution of the amounts referred to in Annex I.
Amendment 585 #
Proposal for a regulation Article 17 – paragraph 4 – subparagraph 3 b (new) The Advisory Board shall regularly organise a consultation of relevant stakeholders, in particular representatives of civil society, social partners, public authorities, co-investors, independent experts and education, training and research institutions to discuss the strategic orientation and implementation of the investment policy carried out under this Regulation.
Amendment 586 #
Proposal for a regulation Article 17 – paragraph 5 – point a – point ii (ii) provide advice to the
Amendment 587 #
Proposal for a regulation Article 17 – paragraph 5 – point a – point ii (ii) provide advice to the Commission about Union-wide and/or Member State specific market failures and sub-optimal investment situations and market conditions;
Amendment 588 #
(ii) provide advice to the Commission about market and coordination failures and sub-optimal investment situations and market conditions;
Amendment 589 #
Proposal for a regulation 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 590 #
Proposal for a regulation Article 17 – paragraph 5 – point b – point i (i) inform Members States about implementation of the InvestEU Fund under each window;
Amendment 591 #
Proposal for a regulation Article 17 – paragraph 5 a (new) 5a. The detailed minutes of the meetings of the Advisory Board shall be made publicly available on a dedicated webpage.
Amendment 592 #
Proposal for a regulation Article 17 a (new) Amendment 593 #
Proposal for a regulation Article 17 a (new) Article 17a Steering Board The Steering Board shall be comprised by eight members: four appointed by the European Commission, two experts appointed by the European Parliament, and two members appointed by the EIB Group. All the members of the Steering Board have voting rights. The decisions of the Steering Board should be made with consensus and according to the provisions of this regulation. The minutes of the Steering Board shall be published as they have been approved by the Steering Board. The Steering Board shall regularly organize consultation meetings with relevant stakeholders, including co- investors, public authorities, experts, educational and research institutes, social partners and representatives of the civil society, on the orientation and implementation of the investment policy of the InvestEU.
Amendment 594 #
Proposal for a regulation 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 595 #
Proposal for a regulation Article 17 a (new) Article 17a Risk Assessment Criteria The Commission shall, in close cooperation with the EIB Group as main implementing partner and in coordination with the other implementing partners, supplement this Regulation by establishing risk assessment criteria to contribute to programme consistency and an effective analysis and comparison of the operations under the InvestEU Fund.
Amendment 596 #
Proposal for a regulation Article 17 b (new) Amendment 597 #
Proposal for a regulation Article 17 b (new) Amendment 598 #
Proposal for a regulation Article 17 b (new) Amendment 599 #
Proposal for a regulation Article 17 c (new) Article 17c Risk Assessment Methodology 1. The Commission in cooperation with the EIB Group 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 600 #
Proposal for a regulation Article 18 Amendment 601 #
Proposal for a regulation Article 18 Amendment 602 #
Proposal for a regulation Article 18 Amendment 603 #
Proposal for a regulation Article 18 Amendment 604 #
Proposal for a regulation Article 18 Amendment 605 #
Proposal for a regulation Article 18 Amendment 606 #
Proposal for a regulation Article 18 Amendment 608 #
Proposal for a regulation Article 18 – paragraph 1 Amendment 609 #
Proposal for a regulation Article 18 – paragraph 1 1. A
Amendment 610 #
Proposal for a regulation Article 18 – paragraph 1 1. A project team consisting of remunerated qualified experts, put at the disposal of the Commission on a full-time basis by the implementing partners
Amendment 611 #
Proposal for a regulation Article 18 – paragraph 2 Amendment 612 #
Proposal for a regulation Article 18 – paragraph 2 2. The Project Team shall be composed of remunerated independent experts that will be selected through an open call for application based on their recent proven knowledge, competence and experience in one or more tasks included in the mandate of the Team. Each implementing partner shall assign experts to the project team. The number of the experts shall be established in the guarantee agreement.
Amendment 613 #
Proposal for a regulation Article 18 – paragraph 2 2. Each implementing partner shall assign experts to the project team. The number of the experts shall be established in the guarantee agreement.
Amendment 614 #
Proposal for a regulation Article 18 – paragraph 2 a (new) Amendment 615 #
Proposal for a regulation Article 18 – paragraph 2 a (new) 2a. The Commission may select additional qualified independent experts with a relevant proven experience in risk portfolio management and guarantees though an open call for application.
Amendment 616 #
Proposal for a regulation Article 18 – paragraph 3 Amendment 617 #
Amendment 618 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 1 Subject to the confirmation by the Commission referred to in
Amendment 619 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 2 Amendment 620 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 3 – point c (c) the respect of the eligibility criteria, including the compliance with the EU environmental standards, with the Charter of Fundamental Rights, and with the Energy Union's "Energy Efficiency first" principle.
Amendment 621 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 3 – point c a (new) (ca) the design and evaluation of the banking-related aspects of impact and results assessment; – the structuring of the guarantees and contracting arrangements with implementing partners;
Amendment 622 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 3 – point c a (new) (ca) the quality and contribution of the investment operation to sustainable growth and employment;
Amendment 623 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 3 – point c a (new) (ca) the quality and contribution of the investment operation to sustainable growth and employment;
Amendment 624 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 3 – point c b (new) (cb) the contribution of the investment operation to the realisation of InvestEU Programme objectives;
Amendment 625 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 3 – point c b (new) (cb) the contribution of the investment operation to the realisation of the Programme's objectives;
Amendment 626 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 3 – point c c (new) (cc) the technical and financial contribution to the project.
Amendment 627 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 3 – point c c (new) (cc) the technical and financial contribution to the project;
Amendment 628 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 3 – point c d (new) (cd) whether the proposed operation addresses the identified market and coordination failures or sub-optimal investment situations.
Amendment 629 #
Proposal for a regulation Article 18 – paragraph 4 – subparagraph 4 Each implementing partner shall provide adequate and harmonised information to the
Amendment 630 #
Proposal for a regulation Article 18 – paragraph 5 Amendment 631 #
Proposal for a regulation Article 18 – paragraph 5 5.
Amendment 632 #
Proposal for a regulation Article 18 – paragraph 6 Amendment 633 #
Proposal for a regulation Article 18 – paragraph 7 Amendment 634 #
Proposal for a regulation Article 18 – paragraph 8 Amendment 635 #
Proposal for a regulation Article 18 – paragraph 8 8. The Commission shall
Amendment 636 #
Proposal for a regulation Article 18 a (new) Amendment 637 #
Proposal for a regulation Article 18 b (new) Article 18b The Scoreboard shall, in particular, contain an assessment of: (a) the risk profile of the proposed financing and investment operations as resulted from the application of the risk assessment methodology referred to in Article 17a; (b) the benefit for final recipients; (c) the compliance with EU's commitments on the UN Sustainable Development Goals, the Paris agreement on climate change, the European Pillar of Social Rights and the Charter of Fundamental Rights; (d) the quality and contribution of the investment operation to sustainable growth and the creation of high-quality jobs in the EU; (e) the contribution of the investment operation to the realisation of InvestEU Programme objectives; (f) the technical and financial contribution to the project. (g) whether the proposed operation addresses the identified market failures or sub-optimal investment situations. Where necessary, the Commission may provide assistance to implementing partners in the application of the risk assessment methodology and in the compilation of the scoreboard. It shall ensure that the scoring methodology is properly applied and that the scoreboards presented to the Investment Committee are of high quality. The Commission shall, following its compliance and due diligence check, adjust the ratings of the scoreboard on non-financial matters before the Scoreboard goes to the Investment Committee.
Amendment 638 #
Proposal for a regulation Article 19 – paragraph 1 – introductory part 1. A
Amendment 639 #
Proposal for a regulation Article 19 – paragraph 1 – introductory part 1. An independent Investment Committee shall be established. It shall
Amendment 640 #
Proposal for a regulation Article 19 – paragraph 1 – point b (b) verify their compliance with this Regulation and the relevant investment guidelines, giving particular attention to the additionality requirement referred to in
Amendment 641 #
Proposal for a regulation Article 19 – paragraph 1 – point b (b) verify their compliance with this Regulation and the relevant investment guidelines, giving particular attention to the additionality requirement referred to in [Article 209(2)(b)] of the [Financial Regulation] and to the requirement, where appropriate, to crowd in private investment referred to in [Article 209(2)(d)] of the [Financial Regulation]; and
Amendment 642 #
Proposal for a regulation Article 19 – paragraph 1 – point b a (new) (ba) verify their compliance with the specific additionality requirement set out in Article 10a
Amendment 643 #
Proposal for a regulation Article 19 – paragraph 1 – point c a (new) (ca) calls on the Commission to amend the investment guidelines and/or draft additional guidelines when it deems necessary.
Amendment 644 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 1 The Investment Committee shall meet in f
Amendment 645 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 2 Each configuration of the Investment Committee shall be composed of
Amendment 646 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 2 Each configuration of the Investment Committee shall be composed of six remunerated external experts. The experts shall be selected in accordance with [Article 237] of the [Financial Regulation] and be appointed by the Commission for a fixed term of up to four years. Their term shall be renewable but shall not exceed seven years in total. The
Amendment 647 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 2 Each configuration of the Investment Committee shall be composed of s
Amendment 648 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 2 Each configuration of the Investment Committee shall be composed of six remunerated external experts and a representative from each Member State. The experts shall be selected in accordance with [Article 237] of the [Financial Regulation] and be appointed by the Commission for a fixed term of up to four years. Their term shall be renewable but shall not exceed seven years in total. The Commission may decide to renew the term of office of an incumbent member of the Investment Committee without availing itself of the procedure laid down in this paragraph.
Amendment 649 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 4 The composition of the Investment Committee shall ensure that it has a wide knowledge of the sectors covered by the
Amendment 650 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 5 Four members shall be permanent members of all four configurations of the Investment Committee. In addition, the four configurations shall each have two experts with experience in investment in sectors covered by that policy window. At least one of the permanent members shall have expertise in sustainable investment. The
Amendment 651 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 5 Four members shall be permanent members of all f
Amendment 652 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 5 Four members shall be permanent members of all four configurations of the Investment Committee. In addition, the four configurations shall each have t
Amendment 653 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 6 Amendment 654 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 6 The Commission shall adopt the rules of procedure and
Amendment 655 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 6 The Commission shall adopt the rules of procedure and the EIB shall manage the secretariat for the Investment Committee.
Amendment 656 #
Proposal for a regulation Article 19 – paragraph 3 – subparagraph 1 When participating in the activities of the Investment Committee, its
Amendment 657 #
Proposal for a regulation Article 19 – paragraph 3 – subparagraph 2 CVs and declarations of interest of each member of the Investment Committee shall be made public and constantly updated. Each member of the Investment Committee shall communicate without delay to the Commission and the Steering Committee all information needed to
Amendment 658 #
Proposal for a regulation Article 19 – paragraph 3 – subparagraph 2 CVs and declarations of interest of each member of the Investment Committee shall be made public and constantly updated. Each member of the Investment Committee shall communicate without delay to the Commission and to the Steering Board all information needed to check on an ongoing basis the absence of any conflict of interest.
Amendment 659 #
Proposal for a regulation Article 19 – paragraph 3 – subparagraph 3 The
Amendment 660 #
Proposal for a regulation Article 19 – paragraph 3 – subparagraph 3 The
Amendment 661 #
Proposal for a regulation Article 19 – paragraph 3 – subparagraph 3 a (new) A secretariat shall be provided by the EIB to support the InvestEU Investment Committee the management of which shall be agreed in accordance with Article 19(2) of this Regulation.
Amendment 662 #
Proposal for a regulation Article 19 – paragraph 3 – subparagraph 3 a (new) A secretariat shall be provided by the EIB to support the InvestEU Investment Committee, the management of which shall be agreed in accordance with Article 19(2) of this Regulation.
Amendment 663 #
Proposal for a regulation 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
Amendment 664 #
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
Amendment 665 #
Proposal for a regulation Article 19 – paragraph 4 – subparagraph 1 When acting in accordance with this Article, the Investment Committee shall be supported by a secretariat hosted by the Commission and responsible to the chairperson of the Investment Committee. The secretariat shall check the completeness of the documentation provided by the implementing partners comprising a standardised request form, the scoreboard and any other document the Investment Committee considers relevant. The Investment Committee may seek clarifications from the Implementing Partner during its meetings or by requesting additional information to be submitted to a subsequent meeting. Any project assessment 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.
Amendment 666 #
Proposal for a regulation Article 19 – paragraph 4 – subparagraph 2 The Investment Committee shall use in its assessment and verification of the proposals a scoreboard of indicators referred to in Article 1
Amendment 667 #
Proposal for a regulation Article 19 – paragraph 4 a (new) 4a. The Investment Committee shall ensure that distribution of investment between countries and regions is fair and balanced, thus guaranteeing that economic, social and territorial cohesion is promoted.
Amendment 668 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 1 Conclusions of the Investment Committee shall be adopted by simple majority of all members, where such simple majority includes at least one of the two experts for each policy window. In case of a draw, the chair of the Investment Committee has the casting vote.
Amendment 669 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 1 Conclusions of the Investment Committee shall be adopted by simple majority of all members, which shall include the vote of at least one expert of the specific policy window. In case of a draw, the chair of the Investment Committee has the casting vote.
Amendment 670 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 2 Conclusions of the Investment Committee
Amendment 671 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 2 Conclusions of the Investment Committee approving the support of the EU guarantee to a financing or investment operation shall be publicly accessible and shall include the rationale for the approval. The publication shall not contain commercially sensitive information, which nevertheless must be made available upon request to Members of the European Parliament and staff of political groups in a securitised reading room.
Amendment 672 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 2 Conclusions of the Investment Committee approving the support of the EU guarantee
Amendment 673 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 2 a (new) Conclusions leading to refusing the support of the EU guarantee shall be made available to the concerned implementing partners.
Amendment 674 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 3 The scoreboard shall be publicly available after the signature of a financing or investment operation or sub-project
Amendment 675 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 3 The scoreboard shall be publicly available
Amendment 676 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 3 The scoreboard shall be publicly available
Amendment 677 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 3 The scoreboard shall be publicly available after the signature of a financing or investment operation or sub-project, if applicable. The publication shall not contain commercially sensitive information or personal data not to be disclosed under the Union data protection rules. The rate of the projects rejected over the projects accepted per Member state should be included annually. A justification of acceptance or rejection should be provided for every project.
Amendment 678 #
Proposal for a regulation Article 19 – paragraph 5 – subparagraph 4 Twice a year, the conclusions
Amendment 679 #
Proposal for a regulation Article 19 – paragraph 6 6. Where the Investment Committee is requested to approve the use of the EU guarantee for a financing or investment operation that is a facility, programme or structure which has underlying sub- projects, that approval shall comprise the underlying sub-projects
Amendment 680 #
Proposal for a regulation Article 19 – paragraph 6 6. Where the Investment Committee is requested to approve the use of the EU guarantee for a financing or investment operation that is a facility, programme or structure which has underlying sub- projects, that approval shall comprise the underlying sub-projects
Amendment 681 #
Proposal for a regulation Article 19 – paragraph 6 6. Where the Investment Committee is requested to approve the use of the EU guarantee for a financing or investment operation that is a facility, programme or structure which has underlying sub- projects, that approval shall comprise the underlying sub-projects
Amendment 682 #
Proposal for a regulation Article 19 – paragraph 6 a (new) 6a. The official work of the Investment Committees shall start its function only after the full appointment of their members and without any interim contract. For example, if the call of tender for the members of the Investment Committees is for three years, the contract signed by the members of the Investment Committees should not be shorter than three years.
Amendment 683 #
The InvestEU Advisory Hub shall be managed by the Commission in close cooperation with the EIB Group as main implementing partner and, where appropriate, in coordination with the other implementing partners, in order to ensure efficiency, synergies and an effective geographic support coverage across the Union while taking due account of existing structures and work in this regard.
Amendment 684 #
Proposal for a regulation Article 20 – paragraph 1 – subparagraph 1 a (new) The InvestEU Advisory Hub shall be managed by the by the European Investment Bank on behalf of and in close cooperation with the Commission, in cooperation with the EIB Group.
Amendment 685 #
Proposal for a regulation Article 20 – paragraph 1 – subparagraph 1 a (new) The InvestEU Advisory Hub shall be managed by the Commission, in cooperation with the implementing partners and other market building institutions including philanthropic actors.
Amendment 686 #
Proposal for a regulation Article 20 – paragraph 1 – subparagraph 1 a (new) The InvestEU Advisory Hub shall be managed by the Commission, in cooperation with the EIB Group and the other implementing partners.
Amendment 687 #
Proposal for a regulation Article 20 – paragraph 1 – subparagraph 1 a (new) The InvestEU Advisory Hub shall be managed by the EIB on behalf of and in close cooperation with the Commission;
Amendment 688 #
Proposal for a regulation Article 20 – paragraph 1 – subparagraph 2 a (new) It shall include a philanthropy/venture philanthropy resource ("collaborative platform") that provides guidance and support not only regarding the guarantee mechanism, but along the whole spectrum of collaboration opportunities among the project promotors, potential investors in the social innovation ecosystem and European institutions.
Amendment 689 #
Proposal for a regulation Article 20 – paragraph 1 – subparagraph 2 a (new) The InvestEU Advisory Hub shall provide advisory support at a regional and local level to promote projects with a climate, environmental and social impact and in line with the 'Energy Efficiency first' principle. Such support should also include a communication and a project development assistance component to continue building more capacity to develop sustainable projects and to aggregate smaller projects into larger ones.
Amendment 690 #
Proposal for a regulation Article 20 – paragraph 1 – subparagraph 2 a (new) The Advisory Hub will built on the experience gathered already from the EIAH of EFSI; It shall function under the responsibilities, coordination and direction of the EIB.
Amendment 691 #
Proposal for a regulation Article 20 – paragraph 1 a (new) 1a. The InvestEU Advisory Hub shall be managed by the Commission, in cooperation with the EIB Group and the other implementing partners.
Amendment 692 #
Proposal for a regulation Article 20 – paragraph 2 – point b (b) assisting project promoters, where appropriate, in developing their projects to fulfil the objectives and eligibility criteria set out in Articles 3, 7 and 11 and
Amendment 693 #
Proposal for a regulation Article 20 – paragraph 2 – point e (e) providing proactive advisory support on the establishment of investment platforms, in particular
Amendment 694 #
Proposal for a regulation Article 20 – paragraph 2 – point e (e) providing proactive, advisory support, where necessary by means of local presence, on the establishment of investment platforms, in particular cross- border and macro regional investment platforms involving several Member States
Amendment 695 #
Proposal for a regulation Article 20 – paragraph 2 – point e a (new) (ea) facilitate and support the use of blending with grants or financial instruments funded by the Union budget or by other sources in order to strengthen synergies and complementarity between EU instruments and maximise the leverage and impact of the InvestEU Programme;
Amendment 696 #
Proposal for a regulation Article 20 – paragraph 2 – point f (f) supporting actions for capacity building to develop organisational capacities, skills and processes and accelerate investment readiness of organisations in order for promoters and authorities to build investment project pipelines and to manage projects and for
Amendment 697 #
Proposal for a regulation Article 20 – paragraph 2 – point f a (new) (fa) providing proactive advisory support for start-ups, for example when seeking to protect their research and innovation investments by obtaining intellectual property titles, such as patents.
Amendment 698 #
Proposal for a regulation Article 20 – paragraph 2 – point f a (new) (fa) dissemination to authorities and project promoters of all available additional information regarding the investment guidelines and the interpretation of these guidelines.
Amendment 699 #
Proposal for a regulation Article 20 – paragraph 3 3. The InvestEU Advisory Hub shall be available for public and private project promoters, including national promotional banks, investment platforms, SMEs and start-ups, to public authorities and to financial and other intermediaries.
Amendment 700 #
Proposal for a regulation Article 20 – paragraph 4 4. Fees may be charged for the services referred to in paragraph 2 to cover part of the costs for providing those services, except for the services provided to public project promoters and non-profit organisations, which shall be free of charge. Fees charged for the technical assistance to SMEs shall be capped at one third of the effective cost of the services provided to them.
Amendment 701 #
Proposal for a regulation Article 20 – paragraph 4 4. Fees may be charged for the services referred to in paragraph 2 to cover part of the costs for providing those services. Such fees would need to be proportionate to the potential access to funding.
Amendment 702 #
Proposal for a regulation Article 20 – paragraph 4 4.
Amendment 703 #
Proposal for a regulation Article 20 – paragraph 5 5. In order to achieve the objective referred to in paragraph 1 and to facilitate the provision of advisory support, the InvestEU Advisory Hub shall build upon
Amendment 704 #
Proposal for a regulation Article 20 – paragraph 6 6. The Invest EU Advisory Hub shall
Amendment 705 #
Proposal for a regulation Article 20 – paragraph 6 6. The InvestEU Advisory Hub shall have local presence
Amendment 706 #
Proposal for a regulation Article 20 – paragraph 6 6. The InvestEU Advisory Hub shall have local presence, where necessary. It shall be established in particular in Member States or regions that face difficulties in developing projects under the InvestEU Fund. The InvestEU Advisory Hub shall assist in the transfer of knowledge to the regional and local level with a view to building up regional and local capacity and expertise for support referred to in paragraph 1, and to implement and accommodate small projects. The Commission or the EIB as manager of the InvestEU Advisory Hub shall sign separate agreements with the Advisory Hub partners where appropriate to formalise their contribution to the implementation of the InvestEU Advisory Hub on the ground.
Amendment 707 #
Proposal for a regulation Article 20 – paragraph 6 6. The InvestEU Advisory Hub shall have local presence, where necessary. It shall be established in particular in Member States or regions that face difficulties in developing projects under the InvestEU Fund. The InvestEU Advisory Hub shall assist in the transfer of knowledge to the regional and local level with a view to building up regional and local capacity and expertise for support referred to in paragraph 1 and to implement and accommodate such projects. The Commission or the EIB as manager of the InvestEU Advisory Hub shall sign separate agreements with the Advisory Hub partners where appropriate to formalise their contribution to the implementation of the InvestEU Advisory hub on the ground.
Amendment 708 #
Proposal for a regulation Article 20 – paragraph 6 6. The InvestEU Advisory Hub shall have local presence, where necessary. It shall be established in particular in Member States or regions that face difficulties in developing projects under the InvestEU Fund. The InvestEU Advisory Hub shall assist in the transfer of knowledge to the regional and local level with a view to building up regional and local capacity and expertise for support referred to in paragraph 1. In Member States where national promotional banks or institutions exist, Member States may designate the implementation of the InvestEU Advisory Hub on the ground to these national promotional banks or institutions.
Amendment 709 #
Proposal for a regulation 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.
Amendment 710 #
Proposal for a regulation Article 21 – paragraph 1 1. The InvestEU Portal shall be established by the Commission. It shall be an easily accessible and user-friendly project database, providing relevant information for each project in every official language of the EU.
Amendment 711 #
Proposal for a regulation Article 21 a (new) Article 21a Synergies and complementarities with other Union programmes The Commission and the implementing partners shall ensure that the investEU programme exploits all complementarities and synergies with grant financing and other actions under the policy areas it supports, in line with the objectives of other EU programmes, such as Horizon Europe, the Connecting Europe Facility, the Digital Europe Programme, the Single Market, Competitiveness of SMEs and European Statistics Programme, the European Space Programme, the European Social Fund+, the Creative Europe, the Programme for Environment & Climate Action (LIFE) and the European Defence Fund.
Amendment 712 #
Proposal for a regulation Chapter 7 – title Accountability, monitoring and reporting, evaluation and control
Amendment 713 #
Proposal for a regulation Chapter 7 – title monitoring and reporting, rev
Amendment 714 #
Proposal for a regulation Article -22 (new) Article -22 Accountability 1. At the request of the European Parliament or of the Council, the Chairperson of the Advisory Board shall report on the performance of the InvestEU Fund to the requesting institution, including by participating in a hearing before the European Parliament. 2. The Chairperson of the Advisory Board shall reply orally or in writing to questions addressed to the InvestEU Fund by the European Parliament or by the Council, in any event within five weeks of the date of receipt of a question. 3. At the request of the European Parliament or of the Council, the Commission shall submit a report on the application of this Regulation. 4. At the request of the European Parliament, the President of the EIB shall participate in a hearing of the European Parliament that concerns EIB financing and investment operations covered by this Regulation. The President of the EIB shall, within five weeks of the date of receipt, reply orally or in writing to questions addressed to the EIB by the European Parliament or the Council concerning EIB financing and investment operations covered by this Regulation.
Amendment 715 #
Proposal for a regulation Article 22 – paragraph 1 a (new) 1a. Building on the experience of EFSI the evaluation of InvestEU in one metric is often controversial. The Commission shall identify alternative methods of performance evaluation combining alternative macroeconomic and market measures, and publish the outcome of those methods in a semi- annual basis;
Amendment 716 #
Proposal for a regulation Article 22 – paragraph 4 4. The Commission shall report on the implementation of InvestEU Programme in accordance with [Articles 241 and 250] of the [Financial Regulation]. For that purpose, the implementing partners shall provide annually the information necessary to allow the Commission to comply with its reporting obligations. As part of the annual reporting, the Commission shall carry out annually, a robust, multi-annual consolidation exercise to identify whether climate expenditure is on track to achieve the 60% target. The Commission shall provide information on the scale and results of support to climate change objectives differentiating between mitigation and adaptation as well as information on the climate contribution of relevant financial instruments, and make this publicly available.
Amendment 717 #
Proposal for a regulation Article 22 – paragraph 5 5. In addition, each implementing partner shall submit every six months a report to the Commission and the European Parliament on the financing
Amendment 718 #
Proposal for a regulation Article 22 – paragraph 5 5. In addition, each implementing partner shall submit every six months a report to the Commission on the financing and investment operations covered by this
Amendment 719 #
Proposal for a regulation Article 22 – paragraph 5 5. In addition, each implementing partner shall submit every six months a report to the European Parliament and the Commission on the financing and investment operations covered by this Regulation, broken down by the EU compartment and the Member State compartment by Member State, as appropriate. The report shall include an
Amendment 720 #
Proposal for a regulation Article 22 – paragraph 5 5. In addition, each implementing partner shall submit every six months a report to the Commission and the European Parliament on the financing and investment operations covered by this Regulation, broken down by the EU compartment and the Member State compartment by Member State, as appropriate. The report shall include an assessment of compliance with the requirements on the use of the EU guarantee and with the key performance indicators laid down in Annex III to this Regulation. The report shall also include operational, statistical, financial and accounting data on each financing and investment operation and at the compartment, policy window and the InvestEU Fund level. One of those reports shall contain the information the implementing partners shall provide in
Amendment 721 #
Proposal for a regulation Article 22 – paragraph 5 5. In addition, each implementing partner shall submit every
Amendment 722 #
5a. The Commission shall publish on its web portal information on financing and investment operations, including information on expected impacts and benefits of the projects, taking into account the protection of confidential and commercially sensitive information. The web portal shall also provide public access to a registry of eligible counterparts. In accordance with relevant transparency policies and Union rules on data protection and on access to documents and information, the implementing partners and other recipients of Union funds shall pro-actively and systematically make publicly available on their websites information relating to all financing and investment operations covered by this programme, relating in particular to the manner in which those projects contribute to the achievement of the objectives and requirements of this Regulation. Such information shall always take into account the protection of confidential and commercially sensitive information. Implementing partners shall make public Union support in all information, which they publish on financing and investment operations covered by this programme in accordance with this Regulation.
Amendment 723 #
Proposal for a regulation Article 22 – paragraph 5 a (new) 5a. The Commission shall present to the Parliament and the Council in the last quarter of the year an estimate of the use of the EU guarantee, the provisioning rate applied, the number of jobs created, the contribution to sustainable development goals and the average multiplier achieved for the projects financed in that year, and make a proposal for the following year by virtue of the cyclical position of the EU economy in accordance with the provisions of Article 16a.
Amendment 724 #
Proposal for a regulation Article 22 – paragraph 5 a (new) 5a. All information on the risk and guarantee portfolio monitoring and the estimation of expected cash-flows shall be shared with the Advisory Board.
Amendment 726 #
Proposal for a regulation Article 23 – paragraph 2 2. By 30 September 202
Amendment 727 #
Proposal for a regulation Article 23 – paragraph 2 2. By 30 September 202
Amendment 728 #
Proposal for a regulation Article 23 – paragraph 2 2. By 30 September 202
Amendment 729 #
Proposal for a regulation Article 23 – paragraph 2 2. By 30 September 202
Amendment 730 #
Proposal for a regulation Article 23 – paragraph 2 2. By 30 September 202
Amendment 731 #
Proposal for a regulation Article 23 – paragraph 2 2. By 30 September 202
Amendment 732 #
Proposal for a regulation Article 23 – paragraph 2 2. By 30 September 202
Amendment 733 #
Proposal for a regulation Article 23 – paragraph 2 2. By 30 September 2025, the Commission shall carry out an interim evaluation on the InvestEU Programme, in particular on the use of the EU guarantee. In particular, the evaluation shall demonstrate how the inclusion of the implementing partners has contributed to the achievements of the InvestEU programme targets, as well as EU policy goals, especially with regard to geographical and sectoral balance of the supported financing and investment operations.
Amendment 734 #
Proposal for a regulation Article 23 – paragraph 3 3. At the end of the implementation of the InvestEU Programme, but no later than four years after the end of the period specified in Article 1,
Amendment 735 #
Proposal for a regulation Article 23 – paragraph 3 3. At the end of the implementation of the InvestEU Programme, but no later than
Amendment 736 #
Proposal for a regulation Article 23 – paragraph 3 3. At the end of the implementation of the InvestEU Programme, but no later than
Amendment 737 #
Proposal for a regulation Article 23 – paragraph 3 3. At the end of the implementation of the InvestEU Programme, but no later than
Amendment 738 #
Proposal for a regulation Article 23 – paragraph 3 3. At the end of the implementation of the InvestEU Programme, but no later than
Amendment 739 #
Proposal for a regulation Article 23 – paragraph 6 6. In accordance with
Amendment 740 #
Proposal for a regulation Article 24 – paragraph 1 Audits on the use of the Union funding carried out by persons or entities, including by others than those mandated by the Union institutions or bodies, shall form the basis of the overall assurance pursuant to [Article 127] of the [Financial Regulation]. The guarantee, payments and recoveries under it, and operations under the InvestEU Programme shall be audited by the Court of Auditors. A special report by the Court of Auditors should be issued 18 months after the entry into force of this regulation.
Amendment 741 #
Proposal for a regulation Article 24 – paragraph 1 a (new) The external audit of the activities undertaken in accordance with this Regulation are carried out by the European Court of Auditors in accordance with Article 287 TFEU. The Commission and the implementing partners shall ensure that the Court of Auditors has full access to all information which it considers necessary to carry out its audits.
Amendment 742 #
Proposal for a regulation Article 26 – paragraph 1 1. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in this Article. Delegated acts concerning activities carried out by, or involving, the implementing partners, shall be prepared in close dialogue with those implementing partners and after conducting public consultations.
Amendment 743 #
Proposal for a regulation Article 26 – paragraph 2 2. The power to adopt delegated acts referred to in Articles 7(6),
Amendment 744 #
Proposal for a regulation Article 26 – paragraph 3 3. The delegation of power referred to in Articles 7(6),
Amendment 745 #
Proposal for a regulation Article 26 – paragraph 6 6. A delegated act adopted pursuant to Articles 7(6),
Amendment 746 #
Proposal for a regulation Annex I – paragraph 1 – point a (a) up to
Amendment 747 #
Proposal for a regulation Annex I – paragraph 1 – point a (a) up to
Amendment 748 #
Proposal for a regulation Annex I – paragraph 1 – point a (a) up to EUR 11
Amendment 749 #
Proposal for a regulation Annex I – paragraph 1 – point a (a) up to EUR 1
Amendment 750 #
Proposal for a regulation Annex I – paragraph 1 – point b (b) up to
Amendment 751 #
Proposal for a regulation Annex I – paragraph 1 – point b (b) up to
Amendment 752 #
Proposal for a regulation Annex I – paragraph 1 – point b (b) up to EUR 11
Amendment 753 #
Proposal for a regulation Annex I – paragraph 1 – point b (b) up to EUR 11
Amendment 754 #
Proposal for a regulation Annex I – paragraph 1 – point c (c) up to
Amendment 755 #
Proposal for a regulation Annex I – paragraph 1 – point c (c) up to
Amendment 756 #
Proposal for a regulation Annex I – paragraph 1 – point c (c) up to EUR 11
Amendment 757 #
Proposal for a regulation Annex I – paragraph 1 – point c (c) up to EUR 11
Amendment 758 #
Proposal for a regulation Annex I – paragraph 1 – point c (c) up to EUR 1
Amendment 759 #
Proposal for a regulation Annex I – paragraph 1 – point c (c) up to EUR 1
Amendment 760 #
Proposal for a regulation Annex I – paragraph 1 – point d (d) up to
Amendment 761 #
Proposal for a regulation Annex I – paragraph 1 – point d (d) up to
Amendment 762 #
Proposal for a regulation Annex I – paragraph 1 – point d (d) up to EUR
Amendment 763 #
Proposal for a regulation Annex I – paragraph 1 – point d (d) up to EUR 4
Amendment 764 #
Proposal for a regulation Annex I – paragraph 1 – point d (d) up to EUR
Amendment 765 #
Proposal for a regulation Annex I – paragraph 1 – point d (d) up to EUR 4
Amendment 766 #
Proposal for a regulation Annex I – paragraph 1 – point d a (new) (da) up to EUR 20% of the overall financial envelope indicated in article 4.1. for objectives referred to in point (d new) of Article 3(2).
Amendment 767 #
Proposal for a regulation Annex II – paragraph 1 – introductory part The financing and investment operations
Amendment 768 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – introductory part 1. Development of the energy sector, excluding fossil fuel-related activities, such as production, exploration, processing, transmission, distribution, storage or combustion of oil, coal and natural gas, and nuclear energy, in accordance with the Energy Union priorities, including security of energy supply, and the commitments taken under the Agenda 2030 and the Paris Agreement, in particular through:
Amendment 769 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – introductory part 1. Development of the energy sector, excluding activities related to production, processing, transmission, distribution, storage or combustion of fossil fuels, in accordance with the Energy Union priorities, including security of energy supply, and the commitments taken under the Agenda 2030 and the Paris Agreement, in particular through:
Amendment 770 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point a (a) expansion and acceleration of the generation, deployment, supply or use of
Amendment 771 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point c (c) development, smartening and modernisation of sustainable energy infrastructure, including peer to peer and decentralised distribution schemes (transmission and distribution level, storage technologies);
Amendment 772 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point c (c) development, smartening and modernisation of sustainable energy infrastructure, including electricity interconnection (transmission and distribution level, storage technologies);
Amendment 773 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point d (d) production and supply of synthetic fuels from renewable
Amendment 774 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point e Amendment 775 #
Proposal for a regulation Annex II – paragraph 1 – point 1 – point e a (new) (ea) maintenance or upgrade of existing infrastructure assets, in transport and energy sectors, with particular focus on safety and security aspects.
Amendment 776 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – introductory part 2. Development of sustainable transport infrastructures, excluding motorways, expressways and airports, and equipment and innovative technologies in accordance with Union transport priorities and the commitments taken under the Paris Agreement, in particular through:
Amendment 777 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point a (a) sustainable projects supporting development of the TEN-T infrastructure and small-scale projects, including its urban nodes, when targeted to multimodality and zero-emission technologies, sustainable maritime and inland ports, multimodal terminals and their connection to the main networks, as well as cross sectorial projects at those ports and terminals such as waste and water recycling and integrated electricity charging stations for ships when at berth;
Amendment 778 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point b (b) smart and sustainable urban mobility projects (targeting
Amendment 779 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point c (c) supporting the renewal and retrofitting of transport mobile assets with the view of deploying
Amendment 780 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point d (d) railway infrastructure,
Amendment 781 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point e (e)
Amendment 782 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point e a (new) (ea) maintenance, repair, rehabilitation or upgrade of existing infrastructures in transport and energy sectors to improve their safety as well as their resilience against anticipated climate and extreme weather events;
Amendment 783 #
(ea) maintenance or upgrades of existing infrastructure assets, in transport and energy sectors, with particular focus on EU long-term transport, energy and climate objectives;
Amendment 784 #
Proposal for a regulation Annex II – paragraph 1 – point 2 – point e a (new) (ea) development of new-generation batteries for electrical mobility;
Amendment 785 #
Proposal for a regulation Annex II – paragraph 1 – point 2 a (new) 2a. InvestEU support to carbon- intensive infrastructures, such as motorways and airports, and nuclear energy, shall be avoided, unless directly targeted to climate change mitigation and adaptation or to the maintenance and safety of existing infrastructures.
Amendment 786 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point c (c) projects and enterprises in the fields of environmental resource management and
Amendment 787 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point f (f) climate change actions, including natural hazard disaster risk reduction, climate adaptation and mitigation;
Amendment 788 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point g (g) projects and enterprises that implement circular economy by integrating resource and energy efficiency aspects in the production and product life-cycle, including the
Amendment 789 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point h (h) decarbonisation of and substantial reduction of emissions of energy-intensive industries, including large-scale demonstration of CCU innovative
Amendment 790 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point h a (new) (ha) projects countering climate change;
Amendment 791 #
Proposal for a regulation Annex II – paragraph 1 – point 3 – point h b (new) (hb) projects promoting sustainable cultural heritage, in particular strategies and instruments to safeguard European cultural heritage, tangible and intangible.
Amendment 792 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point a (a) research, including research infrastructure and support to academia, product development and innovation projects contributing to the objectives of [Horizon Europe];
Amendment 793 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point d (d) collaboration projects between academia
Amendment 794 #
Proposal for a regulation Annex II – paragraph 1 – point 5 – point f (f) new
Amendment 795 #
Proposal for a regulation Annex II – paragraph 1 – point 6 – point a (a) ethical artificial intelligence subject to prior assessment;
Amendment 796 #
Proposal for a regulation Annex II – paragraph 1 – point 6 – point d (d)
Amendment 797 #
Proposal for a regulation Annex II – paragraph 1 – point 6 – point e (e) advanc
Amendment 798 #
Proposal for a regulation Annex II – paragraph 1 – point 7 – introductory part 7. Financial support to
Amendment 799 #
Proposal for a regulation Annex II – paragraph 1 – point 7 – point a (a) provision of working capital and
Amendment 800 #
Proposal for a regulation Annex II – paragraph 1 – point 7 – point b a (new) (ba) female entrepreneurship
Amendment 801 #
Proposal for a regulation Annex II – paragraph 1 – point 7 – point b a (new) (ba) provision of financing for leasing transactions.
Amendment 802 #
Proposal for a regulation Annex II – paragraph 1 – point 8 8. Cultural and creative sectors; media, audio-visual sector and journalism, in particular through, but not limited to: (a) new technologies such as assistive technologies applied to cultural and creative goods and services; (b) cultural and creative industries and sectors, for example augmented reality/virtual reality, immersive environments, human computer interfaces, internet protocol and cloud infrastructures, 5G networks, new media; (c) use of digital technology for the preservation and restoration of European tangible and intangible cultural heritage; (d) technological management of intellectual property rights.
Amendment 803 #
Proposal for a regulation Annex II – paragraph 1 – point 8 8. Cultural and creative sectors;
Amendment 805 #
Proposal for a regulation Annex II – paragraph 1 – point 11 – point c a (new) (ca) promotion of gender equality;
Amendment 806 #
Proposal for a regulation Annex II – paragraph 1 – point 11 – point h (h) innovative health solutions, including e-health, health services and new care models;
Amendment 807 #
Proposal for a regulation Annex II – paragraph 1 – point 12 Amendment 808 #
Proposal for a regulation Annex II – paragraph 1 – point 12 Amendment 809 #
Proposal for a regulation Annex II – paragraph 1 – point 13 – introductory part 13. Space, in particular through the development of the space sector with an exclusive focus on civil applications in line with Space Strategy objectives:
Amendment 810 #
Proposal for a regulation Annex II – paragraph 1 – point 13 – point d (d) to foster Union's autonomy for safe and secure access to space
Amendment 811 #
Proposal for a regulation Annex III – point 2 – point 2.1 a (new) 2.1a Number of regions covered by projects;
Amendment 812 #
Proposal for a regulation Annex III – point 2 – point 2.1 a (new) 2.1a Volume of operations signed per implementing partner
Amendment 813 #
Proposal for a regulation Annex III – point 2 – point 2.1 a (new) 2.1a Geographical distribution covered by projects.
Amendment 814 #
Proposal for a regulation Annex III – point 3 – point 3.2 3.2 Investment supporting climate objectives, detailed per policy window and category, as well as share of climate relevance;
Amendment 815 #
Proposal for a regulation Annex III – point 3 – point 3.2 3.2 Investment supporting climate objectives, including impact on absolute and relative greenhouse gas emissions;
Amendment 816 #
Proposal for a regulation Annex III – point 3 – point 3.3 a (new) 3.3a Investment supporting the social economy and social enterprises;
Amendment 817 #
Proposal for a regulation Annex III – point 3 – point 3.3 a (new) 3.3a Absolute and relative greenhouse gasses emission
Amendment 818 #
Proposal for a regulation Annex III – point 4 – point 4.2 4.2 Energy: Number of households with improved energy consumption classification, number of households renovated to NZEB and passive house standard;
Amendment 819 #
Proposal for a regulation Annex III – point 4 – point 4.2 a (new) 4.2a Energy: energy saved
Amendment 820 #
Proposal for a regulation Annex III – point 4 – point 4.2 b (new) 4.2b Energy: absolute and relative greenhouse gasses emission
Amendment 821 #
Proposal for a regulation Annex III – point 4 – point 4.4 4.4 Transport: Investment mobilised in TEN-T of which: TEN-T core, small-scale projects, other;
Amendment 822 #
Proposal for a regulation Annex III – point 4 – point 4.4 a (new) 4.4a Transport: absolute and relative greenhouse gasses emission
Amendment 823 #
Proposal for a regulation Annex III – point 5 – point 5.2 a (new) 5.2a Contribution to tackling Global Societal Challenges within Horizon Europe: 'Health and well-being', 'Inclusive society', 'Resilient society', 'Sustainable food', 'Natural resources and the Environment';
Amendment 824 #
Proposal for a regulation Annex III – point 6 – introductory part 6. Gender disaggregated data on SMEs
Amendment 825 #
Proposal for a regulation Annex III – point 7 – introductory part 7. Gender disaggregated data on Social Investment and Skills
source: 630.390
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