2019/2127(INI) | [ParlTrack]

Role	Committee	Rapporteur	Shadows
Lead	CONT	EICKHOUT Bas ( Verts/ALE)	WINZIG Angelika ( EPP), CREȚU Corina ( S&D), GHINEA Cristian ( Renew), KUHS Joachim ( ID), CZARNECKI Ryszard ( ECR), FLANAGAN Luke Ming ( GUE/NGL)

Amendments	Dossier
114	2019/2127(INI) 2020/03/03 CONT 114 amendments... Amendment 1 # Corina CREȚU Motion for a resolution Citation 17 — having regard to the to the Court of Auditors special report on E~~FSI in~~uropean Fund for Strategic Investment (EFSI) of January 20195 ), No 03/2019, _________________ 5 https://www.eca.europa.eu/en/Pages/DocIt em.aspx?did=49051 Amendment 10 # Motion for a resolution Paragraph 5 5. Takes note that Council agreed to sustain the bank’s capital base by replacing the UK contribution to the EIB’s paid-in capital by the Bank’s reserves and callable capital by proportional increases of contingent liabilities; takes note that Council agreed to an asymmetric capital increase leading to increases of the capital shares of Poland and Romania; calls on the EIB shareholders to for further increase~~s of~~ the EIB’s capitalisation to allow for more investment and more risk-taking to finance the necessary projects for the sustainable and digital transformation of the economy while preserving the EIB’s triple A rating; Amendment 100 # Motion for a resolution Paragraph 69 69. ~~Regret~~Notes that the Complaints Mechanisms was ~~not sufficiently~~ reinforced at the end of 2018 ~~and considers that an access to an effective and independent complaints mechanism, including rights of redress, should be further developed~~; Amendment 101 # Motion for a resolution Paragraph 69 69. Regrets that the Complaints Mechanisms was not sufficiently reinforced at the end of 2018 and considers that an access to an effective and independent complaints mechanism, including rights of redress, should be further developed; notes that he EIB has set up a new dedicated Project Procurement Complaints System to ensure more effective and independent handling of related grievances in 2019; Amendment 102 # Motion for a resolution Paragraph 70 70. ~~Appreciat~~Welcomes the EIB’s efforts to publish new documentation on climate action, scoreboards from EFSI projects or project completion reports for finalised non-EU operations; considers that the EIB should also disclose Minutes of Board of Governors meetings, Minutes and agendas of Management Committee meetings, 3PA- REM sheets, Commission’s opinions on projects and Projects’ monitoring reports; understands however that certain limits apply with regard to document transparency to ensure protection of confidential information provided by EIB's clients and project partners; Amendment 103 # Motion for a resolution Paragraph 70 70. Appreciates the EIB’s efforts to publish new documentation on climate action, scoreboards from EFSI projects or project completion reports for finalised non-EU operations; considers that the EIB should also disclose to the greatest extend possible Minutes of Board of Governors meetings, Minutes and agendas of Management Committee meetings, 3PA- REM sheets, ~~Commission’s opinions on projects~~ and Projects’ monitoring reports; Amendment 104 # Motion for a resolution Paragraph 72 72. Awaits the results of the review launched in 2018 of the EIB/EIF anti-fraud policies and supports a more stringent approach towards its zero tolerance fraud, corruption policy and other forms of prohibited conduct,; ~~in this regard reiterates its call on the EIB to temporarily suspend financing of projects under ongoing investigation for fraud or corruption b~~calls on the EIB to increase its collaboration with OLAF and the EPPO in the future and to report all cases of potential fraud to the competent authorities; takes the view that the EPPO should in the future have the mandate to prosecute criminal activity ewith~~er national judiciary, EPPO or OLAF~~ regard to EIB funds in the EU Member States which are members of the EPPO; Amendment 105 # Motion for a resolution Paragraph 73 73. ~~Reiterates its~~Notes that the EIB publishes details of its clients for each operation on its website; calls on the EIB to publish al~~l beneficial owners of EIB’s final beneficiaries and to further strengthen its~~so necessary information about beneficial owners; welcomes the current EIB Whistle-blowers’ protection policy; Amendment 106 # Motion for a resolution Paragraph 75 75. Takes note of the agreement between the EIB and Volkswagen with the consequences to exclude Volkswagen from participating in any EIB project during 18 months and with the Volkswagen’s commitment to contribute to sustainability initiative including environmental protection; calls on the EIB to make an even longer period of exclusion from participating in any of EIB projects a standard practice for beneficiaries or financial intermediaries tainted by corruption as the EIB should also impose in cases like Passante di Mestre and MOSE infrastructure projects in Italy or Sostanj coal power plant in Slovenia; Amendment 107 # Motion for a resolution Paragraph 75 75. Takes note of the agreement between the EIB and Volkswagen with the consequences to exclude Volkswagen from participating in any EIB project during 18 months and with the Volkswagen’s commitment to contribute to sustainability initiative including environmental protection; calls on the EIB to make an even longer period of exclusion from participating in any of EIB projects a standard practice for beneficiaries or financial intermediaries tainted by corruption as the EIB should also impose in cases like Passante di Mestre and MOSE infrastructure projects in Italy or Sostanj coal power plant in Slovenia; Amendment 108 # Corina CREȚU Motion for a resolution Paragraph 75 75. Takes note of the agreement between the EIB and Volkswagen with the consequences to exclude Volkswagen from participating in any EIB project during 18 months and with the Volkswagen’s commitment to contribute to sustainability initiative including environmental protection; calls on the EIB to make an even longer period of exclusion from participating in any of EIB projects a standard practice for beneficiaries or financial intermediaries tainted by corruption ~~as the EIB should also impose in cases like Passante di Mestre and MOSE infrastructure projects in Italy or Sostanj coal power plant in Slovenia~~; Amendment 109 # Motion for a resolution Paragraph 75 75. Takes note of the agreement between the EIB and Volkswagen with the consequences to exclude Volkswagen from participating in any EIB project during 18 months and with the Volkswagen’s commitment to contribute to sustainability initiative including environmental protection; calls on the EIB to make an even longer period of exclusion from participating in any of EIB projects a standard practice for beneficiaries or financial intermediaries tainted by corruption a~~s the EIB should also impose in~~lso points to cases like Passante di Mestre and MOSE infrastructure projects in Italy orand the Sostanj coal power plant in Slovenia which are under national criminal investigations; Amendment 11 # Corina CREȚU Motion for a resolution Paragraph 5 5. Takes note that Council agreed to sustain the bank’s capital base by replacing the UK contribution to the EIB’s paid-in capital by the Bank’s reserves and callable capital by proportional increases of contingent liabilities; takes note that Council agreed to an asymmetric capital increase leading to increases of the capital shares of Poland and Romania; calls for further increases of the EIB’s capitalisation to allow for more investment and more risk-taking to finance the necessary projects for the sustainable and digital transformation of the economy as well as to projects that contribute at the same time to social and territorial cohesion within the EU while preserving the EIB’s triple A rating; Amendment 110 # Motion for a resolution Paragraph 76 76. Supports a responsible taxation policy at the EIB by supporting the insertion of integrity clauses in the EIB’s group’s contracts, the execution of deep due diligence in relation to Non-Compliant Jurisdiction with a clear identification of the contracting counterparts and geographical location; ; welcomes the adoption of a Non-Compliant Jurisdiction policy in March2019 and calls for a swift implementation and regular reporting to the Parliament about its implementation; Amendment 111 # Motion for a resolution Paragraph 80 80. Calls for a stronger external scrutiny on EIB by the Court of Auditors, the current provisions of the Tripartite Agreement signed in 2016 and governing cooperation between the European Investment Bank, the European Commission and the European Court of Auditors, should be ~~thoroughly reconsidered, when discuss~~enhanced ing the upcoming Tripartite Agreement due in September 2020; Amendment 112 # Motion for a resolution Paragraph 81 ~~81. Supports the European Court of Auditors’ position that the Court should be mandated to audit all EIB operations including those where the EIB uses non- EU budget funds for its operations;~~deleted Amendment 113 # Motion for a resolution Paragraph 82 a (new) 82 a. Calls on the Committee on Budget Control to organise an annual workshop/hearing on activities and control of the EIB operations that would provide the Parliament with additional relevant information to support its work on the scrutiny of the EIB and its operations; Amendment 114 # Motion for a resolution Paragraph 83 – point c c) transparency following integrity due diligence of clients ~~and disclosure of information on financial intermediaries and final beneficiaries in relation~~ to prevent~~ion of~~ tax avoidance, fraud and corruption; Amendment 12 # Motion for a resolution Paragraph 7 7. Notes that the EIB’s mission is to invest in viable projects that deliver on the EU’s policy objectives according to article 309 of the TFUE, especially measures to help regions lagging behind; stresses that prioritisation within the EIB’s lending activities should rest on sustainable projects with clear deliverables, added value and broader positive impacts; Amendment 13 # Motion for a resolution Paragraph 7 7. Notes that the EIB’s mission is to invest in viable projects that deliver on the EU’s policy objectives according to article 309 of the TFUE; stresses that prioritisation within the EIB’s lending activities should rest on sustainable and viable projects with clear deliverables, added value and broader positive impacts; Amendment 14 # Corina CREȚU Motion for a resolution Paragraph 7 7. Notes that the EIB’s mission is to invest in viable projects that deliver on the EU’s policy objectives according to article 309 of the TFUE; stresses that prioritisation within the EIB’s lending activities should rest on sustainable projects with clear deliverables, added value and broader positive impacts including measures for developing less- developed regions; Amendment 15 # Motion for a resolution Paragraph 7 a (new) 7 a. Calls on EIB as the Union’s bank, to increase levels of investment in the EU, supporting the EU’s sustainability, economic, social and job-creation ambitions and regional cohesion, innovation and competitiveness for a more sustainable and competitive European economy; Amendment 16 # Motion for a resolution Paragraph 7 a (new) 7a. Calls on the EIB to take account of all risks to the environment posed by large-scale infrastructure projects, and to finance only projects with proven added value both for the local population as well as in environmental, social and economic terms; stresses the importance of both rigorous monitoring of possible risks of corruption and fraud in this context and conducting meticulous ex- ante and ex-post evaluations of the projects to be financed; Amendment 17 # Motion for a resolution Paragraph 8 8. ~~Stresses its firm believe~~Emphasises that there is a political momentum around turning an ever growing share of EIB’s funding for climate and environmental sustainability or so called ‘European climate bank’; calls on this opportunity to be seized by civil society, Commission, Parliament and shareholders of the bank; ~~stresses that there is a genuine risk of greenwashing and continuing business as usual if urgent action is not undertaken in 2020 to fully align EIB’s operations with Paris Agreement;~~ Amendment 18 # Corina CREȚU Motion for a resolution Paragraph 8 8. Stresses its firm believe that there is a political momentum around turning an ever growing share of EIB’s funding for climate and environmental sustainability or so called ‘European climate bank’; calls on this opportunity to be seized by civil society, Commission, Parliament and shareholders of the bank; stresses that there is a genuine risk of greenwashing and continuing business as usual if urgent action is not undertaken in 2020 to fully align EIB’s operations with Paris Agreement; Stresses furthermore that under the new developments, the EIB has to continue to support the regional development and EU social and economic cohesion objectives as provided in Protocol 28 to the TFEU. Amendment 19 # Motion for a resolution Paragraph 8 a (new) 8a. Calls on the EIB to halt lending to fossil fuel projects and to increase investment in renewable energy sources and energy efficiency; asks the EIB to consider adopting this objective as a priority in the ongoing review of its energy-sector lending criteria; Amendment 2 # Motion for a resolution Recital A a (new) A a. Whereas the primary objective of the EIB is to contribute to the balanced and steady development of the internal market in the interest of the Union, according to Article 309 TFEU; Amendment 20 # Motion for a resolution Paragraph 9 9. Calls on the EIB to focus on smaller, decentralised projects that are often community-owned and further develop the support to the citizens-led initiatives by strengthening technical assistance and financial expertise before project approval, in order to improve accessibility of EIB funding and the quality and sustainability of its operations; callson this regard for an adequate funding of advisory services in the next Multiannual Financial Framework; Amendment 21 # Motion for a resolution Paragraph 9 a (new) 9a. Urges the EIB, when lending to industrial conglomerates, to ensure the latter fulfil their commitments in terms of job creation or maintaining employment, as well as building and maintaining production sites within the European Union; Amendment 22 # Motion for a resolution Paragraph 10 10. ~~Reiterates its c~~Calls on the EIB to take into account ~~and follow up on opinions, positions and suggestions from~~ local stakeholders including civil society on the impact of investments on the local environment ~~in order to limit avoid or address potentially harmful impacts of projects financed by the EIB~~; Amendment 23 # Corina CREȚU Motion for a resolution Paragraph 10 10. ~~Reiterates its c~~Calls on the EIB to take into account ~~and follow up on~~the opinions, positions and suggestions from local stakeholders including civil society on the impact of investments on the local environment in order to limit avoid or address potentially harmful impacts of projects financed by the EIB; Amendment 24 # Motion for a resolution Paragraph 11 11. ~~Calls on the EIB to strengthen its environmental and social safeguards in 2020 though~~Welcomes the revision of ~~its~~ the EIB's environmental and social ~~principles and standards~~framework later this year; calls on the EIB to ensure that “Do-No-Harm Principle” is applied throughout all of its operations; Amendment 25 # Motion for a resolution Paragraph 11 11. Calls on the EIB to strengthen its environmental and social safeguards in 2020 though the revision of its environmental and social principles and standards; calls on the EIB to ensure that “Do-No-Harm Principle” is applied throughout all of its operations; calls on the EIB to commit to ending the financing of all projects that are not in line with the Paris Agreement and the EU's climate goals; Amendment 26 # Motion for a resolution Paragraph 13 13. Is of the opinion that the EIB should continue to systematically report on mid and long-term economic, social and environmental impacts when defining the rationale of its investment; calls for this reporting to go beyond project outputs and to cover both the planning (ex ante) and the implementation phase of the project (ex post); Amendment 27 # Motion for a resolution Paragraph 13 13. ~~Is of the opinion~~Welcomes that the EIB ~~should~~ systematically reports on ~~mid and long-term~~ economic, social and environmental impacts ~~when defining the r~~and provides ex-ante as well as ex-post evaluation~~ale~~s of ~~its investment~~the screening exercise regarding environmental and social impacts; Amendment 28 # Corina CREȚU Motion for a resolution Paragraph 13 13. Is of the opinion that the EIB should systematically report on mid and long-term economic, social and environmental impacts when defining the rationale of its investment, as well as to report on the results achieved based on its investment especially within the EU; Amendment 29 # Motion for a resolution Paragraph 13 a (new) 13 a. Believes that there is need for effort in the development of a climate neutral economy on a national level and that the EIB should take a leading role in that matter; calls on the EIB to support national investment- and export-import banks in adopting environmental principles and measures similar to those of the EIB and committing to only financing projects that align with the Paris Agreement and the EU’s climate goals; Amendment 3 # Corina CREȚU Motion for a resolution Recital H H. whereas public policy goals such as social cohesion, sustainable development and environmental goal should be at the core focus and targets of the Bank; Amendment 30 # Motion for a resolution Subheading 3 The EIB’s role in financing the European Green Deal~~: Towards the “EU Climate Bank”~~ Amendment 31 # Motion for a resolution Paragraph 14 14. Considers that the EIB haplays an essential role to play in the fight against climate change and to limit global warming to max 1,5 degrees through its support of financing the transition to a climate neutral economy by 2050 and the decarbonisation of the EU economyimportant role in facing climate challenges, such as the global warming and decarbonisation of the EU economy; notes that the EIB should follow objectives set by the Green Deal; Amendment 32 # Motion for a resolution Paragraph 15 15. Notes that the total climate investment in 2018 amounted to EUR 16,2 billion with the main volumes of investments being Low carbon energy (EUR 6 billion), renewable energy (EUR 4,1 billion) and energy efficiency (EUR 2,7 billion); notes that, in 2018, 29% of the EIB’s lending was climate related; ~~regrets that parallel to this the EIB has still financed several projects harmful to the goals of the Paris agreement;~~ Amendment 33 # Motion for a resolution Paragraph 15 15. Notes that the total climate investment in 2018 amounted to EUR 16,2 billion with the main volumes of investments being Low carbon energy (EUR 6 billion), renewable energy (EUR 4,1 billion) and energy efficiency (EUR 2,7 billion); notes that, in 2018, 29% of the EIB’s lending was climate related; ~~regrets that parallel to this the EIB has still financed several projects harmful to the goals of the Paris agreement;~~ Amendment 34 # Motion for a resolution Paragraph 16 16. Welcomes the issuing in 2018 of EUR 4 billion of climate awareness bonds as well as issuing of EUR 500 million of sustainability awareness bonds; stresses the need for a ~~binding~~n EU Green Bond Standard to ensure transparency and tracking of proceeds; Amendment 35 # Motion for a resolution Paragraph 18 18. Stresses that the EIB’s ambition to be a key financial pillar in the Green Deal means the bank needs to step up its efforts to become a genuine “Climate Bank”; calls on the bank for a detailed roadmapCalls on the EIB to be drawn up ~~in 2020 following a public consultation process to fully align with the Paris Agreement; further calls on the bank that such~~ a roadmap ~~defines~~with specific, measurable, attainable, realistic and time- defined targets with regards to implementation of the Paris Agreement; Amendment 36 # Corina CREȚU Motion for a resolution Paragraph 18 18. Stresses that the EIB’s ambition to be a key financial pillar in the Green Deal means the bank needs to step up its efforts to become a genuine “Climate Bank”; calls on the bank for a detailed roadmap to be drawn up in 2020 following a public consultation process to fully align with the Paris Agreement; further calls on the bank that such a roadmap defines specific, measurable, attainable, realistic and time- defined targets which take into consideration the potential risk of increase in the differences between EU regions and Member States; Underlines the necessity of EIB’s activities to align the support of economic and social cohesion with the climate targets; Amendment 37 # Motion for a resolution Paragraph 18 18. Stresses that the EIB’s ambition to be a key financial pillar in the Green Deal means the bank needs to step up its efforts to become a genuine “Climate Bank”; calls on the bank for a detailed roadmap to be drawn up in 2020 following a public consultation process to fully align with the Paris Agreement; further calls on the bank that such a roadmap defines specific, measurable, attainable, realistic and time- defined targets; Underlines the EIB’s activities in support of economic and social cohesion; Is concerned that climate targets may increase the difference between regions; Amendment 38 # Motion for a resolution Paragraph 19 19. ~~Calls for~~Welcomes the ambitious commitments ~~to be enshrined in concrete policies; the EIB needs to make its commitments an essential part of its Corporate Operational Plan and of it~~of the EIB's Climate Strategy, as well as its sectoral lending strategies and safeguard policies; Amendment 39 # Motion for a resolution Paragraph 20 20. Stresses that it is of utmost importance that all EIB investments and sectoral portfolios are aligned with Paris Agreement - including the 50% of the EIB’s financing which won’t be focusing on climate and environmental sustainability as such, especially in the economic and financial appraisal of EIB projects;deleted Amendment 4 # Corina CREȚU Motion for a resolution Paragraph 1 1. Notes that the EIB Group provided more than 64,19 billion euros of financing in 2018 and that 854 projects were signed, Amendment 40 # Motion for a resolution Paragraph 20 20. Stresses that it is of utmost importance that all EIB investments and sectoral portfolios are aligned with Paris Agreement ~~- including the 50% of the EIB’s financing which won’t be focusing on climate and environmental sustainability as such, especially in the economic and financial appraisal of EIB projects;~~ Amendment 41 # Corina CREȚU Motion for a resolution Paragraph 20 20. Stresses that it is of utmost importance that all EIB investments and sectoral portfolios are aligned with Paris Agreement ~~- including the 50% of the EIB’s financing which won’t be focusing on climate and environmental sustainability as such, especially in the economic and financial appraisal of EIB projects~~; Amendment 42 # Motion for a resolution Paragraph 21 21. Deplores that the EIB in 2018 approved financing for large gas infrastructure projects including gas pipelines to the EU from Turkmenistan and Azerbaijan (Trans Anatolia Natural Gas Pipeline) and from Greece to Italy via Albania and the Adriatic Sea (Trans- Adriatic Pipeline); stresses that these investments will exacerbate the EU’s large excess of gas import capacities, contain a high risk of assets to become stranded and are inconsistent with the emission reductions required by the Paris Agreement;deleted Amendment 43 # Corina CREȚU Motion for a resolution Paragraph 21 21. ~~Deplor~~Notes that the EIB in 2018 approved financing for large gas infrastructure projects including gas pipelines to the EU from Turkmenistan and Azerbaijan (Trans Anatolia Natural Gas Pipeline) and from Greece to Italy via Albania and the Adriatic Sea (Trans- Adriatic Pipeline); stresses that these investments will exacerbate the EU’s large excess of gas import capacities, contain a high risk of assets to become stranded and are inconsistent with the emission reductions required by the Paris Agreement; Amendment 44 # 21. ~~Deplor~~Welcomes that the EIB in 2018 approved financing for large gas infrastructure projects including gas pipelines to the EU from Turkmenistan and Azerbaijan (Trans Anatolia Natural Gas Pipeline) and from Greece to Italy via Albania and the Adriatic Sea (Trans- Adriatic Pipeline); stresses that these investments will exacerbate the EU’s large excess of gas import capacities, contain a high risk of assets to become stranded and are inconsistent with the emission reductions required by the Paris Agreement; Amendment 45 # Motion for a resolution Paragraph 21 21. ~~Deplor~~Notes that the EIB in 2018 approved financing for large gas infrastructure projects including gas pipelines to the EU from Turkmenistan and Azerbaijan (Trans Anatolia Natural Gas Pipeline) and from Greece to Italy via Albania and the Adriatic Sea (Trans- Adriatic Pipeline); stresses that these investments ~~will exacerbat~~are included in the in the 4th~~e EU’s large excess of gas import capaciti~~ list of Projects of Common Interes,t co~~ntain a high risk of assets to become stranded and are inconsistent with the emission reductions required by the Paris Agreement~~- financed with EU budget, projects that are essential for European internal energy market and for reaching the EU's energy policy goals; Amendment 46 # Motion for a resolution Paragraph 22 22. Considers the new EIB Energy Lending Policy a major improvement, in particular the decision to stop lending to fossil-fuel energy projects by the end of 2021 and the example it sets for other banks; regrets that gas projects can benefit from EIB financing until the end of 2021 and that support for gas projects planned for the transport of low-carbon gases is set to continue; calls on the EIB to avoid that the provisions on low-carbon gases lead to any approval of lending to projects with carbon intensive lock-in effects using loopholes and calls on the EIB to refrain from signing contracts for new gas projects before the fossil fuels ban enters into force; calls for the Energy Lending Policy to be reviewed at the start of 2022 to remove existing exemptions to the fossil-fuel ban and fully align it to the Paris Agreementdeleted Amendment 47 # Corina CREȚU Motion for a resolution Paragraph 22 22. Considers the new EIB Energy Lending Policy a major improvement, in particular the decision to stop lending to fossil-fuel energy projects by the end of 2021 and the example it sets for other banks; regrets that gas projects can benefit from EIB financing until the end of 2021 and that support for gas projects planned for the transport of low-carbon gases is set to continue; calls on the EIB to avoid that the provisions on low-carbon gases lead to any approval of lending to projects with carbon intensive lock-in effects using loopholes and calls on the EIB to refrain from signing contracts for new gas projects before the fossil fuels ban enters into force; calls for the Energy Lending Policy to be reviewed at the start of 2022 to remove existing exemptions to the fossil-fuel ban and fully align it to the Paris Agreement Amendment 48 # Motion for a resolution Paragraph 22 22. Considers the new EIB Energy Lending Policy a major improvement, in particular the decision to stop lending to fossil-fuel energy projects by the end of 2021 and the example it sets for other banks; regrets that gas projects can benefit from EIB financing until the end of 2021 and that support for gas projects planned for the transport of low-carbon gases is set to continue; calls on the EIB to avoid that the provisions on low-carbon gases lead to any approval of lending to projects with carbon intensive lock-in effects using loopholes and calls on the EIB to refrain from signing contracts for new gas projects before the fossil fuels ban enters into force; calls for the Energy Lending Policy to be reviewed at the start of 2022 to remove existing exemptions to the fossil-fuel ban and fully align it to the Paris Agreement Amendment 49 # Motion for a resolution Paragraph 22 22. ~~Considers~~Takes note of the new EIB Energy Lending Policy ~~a major improvement, in particular the decision to stop lending to fossil-fuel energy projects by the end of 2021 and the example it sets for other banks; regret~~; notes that gas projects can benefit from EIB financing until the end of 2021 and that support for gas projects planned for the transport of low-carbon gases is set to continue; calls on the EIB to avoid that the provisions on low-carbon gases lead to any approval of lending to projects with carbon intensive lock-in effects using loopholes and calls on the EIB to refrain from signing contracts for new gas projects before the fossil fuels ban enters into force; calls for the Energy Lending Policy to be reviewed at the start of 2022 to remove existing exemptions to the fossil- fuel ban and fully align it to the Paris Agreemenstresses the need to ensure that the use of energy sources such as natural gas and their subsequent financing continues in the transition phase to the objective of achieving climate neutrality by 2050 at the latest; calls for the Energy Lending Policy to be reviewed at the start of 2022 and to be brought in line with the European Sustainable Finance Taxonomy and the European Green Pact Amendment 5 # Corina CREȚU Motion for a resolution Paragraph 3 3. Notes the EIB’s two over-arching policy goals related to EU social and economic cohesion and to climate action plus the four primary public policy goals of innovation, SMEs and Mid-cap financing, infrastructure and environment; stresses that these primary public policy goals should be fully aligned with the recent update of the EU’s policy priorities to reflect the transition towards a new sustainable economic model that respects planetary boundaries, social fairness and shared prosperity; Amendment 50 # Motion for a resolution Paragraph 22 22. Considers the new EIB Energy Lending Policy a major improvement, in particular the decision to stop lending to fossil-fuel energy projects by the end of 2021 and the example it sets for other banks; regrets that gas projects can benefit from EIB financing until the end of 2021 and that support for gas projects planned for the transport of low-carbon gases is set to continue; calls on the EIB to avoid that the provisions on low-carbon gases lead to any approval of lending to projects with carbon intensive lock-in effects using loopholes and calls on the EIB to refrain from signing contracts for new gas projects before the fossil fuels ban enters into force; ~~calls for~~notes that the Energy Lending Policy towill be reviewed at the start of 2022 and calls for this review to remove existing exemptions to the fossil-fuel ban and fully align it to the Paris Agreement; Amendment 51 # Motion for a resolution Paragraph 23 23. Welcomes the future focus of the EIB on Just Transition, expects the EIB to ~~strongly~~ contribute to the Just Transition Mechanism, especially under its future Public Sector Loan Facility and its operations under InvestEU; Amendment 52 # Motion for a resolution Paragraph 24 24. Expresses its concern that the share of financing provided to roads, motorways, and air transport in 2018 was higher than the 2014-2018 average whereas the financing to railways in 2018 was lower than the 2014-2018 average; notes that total financing provided to air transport in 2018 amounts to 725 million EUR; calls on the EIB in the review of its TLooks forward to the EIB's review of its transport policy; calls for a new transport ~~Lend~~financing Ppolicy to ~~end lending to air transport and to full alignment it with the Paris agreement~~decarbonise the EU transport sector by 2050; Amendment 53 # Motion for a resolution Paragraph 24 24. ~~Expresses its concern~~Recognises the fact that the share of financing provided to roads, motorways, and air transport in 2018 was higher than the 2014-2018 average whereas the financing to railways in 2018 was lower than the 2014-2018 average; ~~notes that total financing provided to air transport in 2018 amounts to 725 million EUR;~~ calls on the EIB ~~in the review of~~to rethink its Transport Lending Policy to ~~end lending to air transport and to full alignment it with the Paris agreement~~to correct discrepancies by affording preference to railways; Amendment 54 # Motion for a resolution Paragraph 24 24. ~~Expresses its concern~~Notes that the share of financing provided to roads, motorways, and air transport in 2018 was higher than the 2014- 2018 average whereas the financing to railways in 2018 was lower than the 2014- 2018 average; notes that total financing provided to air transport in 2018 amounts to 725 million EUR; ~~calls on the EIB in the review of its Transport Lending Policy toend lending to air transport and to full alignment it with the Paris agreement;~~ Amendment 55 # Motion for a resolution Paragraph 25 25. Calls on the Commission to supplement the framework on sustainable investment with criteria for economic activities with a significant negative environmental impact which could be applied by the EIB;deleted Amendment 56 # Corina CREȚU Motion for a resolution Paragraph 25 25. Calls on the Commission to supplement the framework on sustainable investment with criteria for economic activities with a significant negative environmental impact which could be applied by the EIB; Acknowledges the EIB efforts to contribute to sustainable development goals Amendment 57 # Motion for a resolution Paragraph 26 26. Calls ~~on the EIB to make concrete decarbonisation plans a condition for EIB support to carbon-intensive industrial sectors such as cement, petrochemicals and steel~~for new policies to be implemented in carbon-intensive industrial sectors in which the EIB is active, such as cement,petrochemicals and steel, with a view to focusing on the sustainability of these sectors and carefully weighing the consequences of any termination of ongoing contracts, focusing on the promotion of a circular economy; Amendment 58 # Motion for a resolution Paragraph 26 a (new) 26 a. Notes that the climate problem cannot be solved without support of industry, a large scale change can only be achieved if the industry is taken on board and the necessary incentives are given for innovative climate solutions Amendment 59 # Motion for a resolution Paragraph 27 27. Welcomes the new EIB carbon footprint evaluation methodology and calls for its systematic implementation, ~~with a particular focus on marginal demand emissions and indirect emissions (‘type 3’);~~ calls for projects to be evaluated comprehensively and not merely by means of an economic life-cycle analysis of their emissions; Amendment 6 # Motion for a resolution Paragraph 3 3. Notes the EIB’s two over-arching policy goals related to EU social and economic cohesion and to climate action plus the four primary public policy goals of innovation, SMEs and Mid-cap financing, infrastructure and environment; stresses that these primary public policy goals should be fully aligned with the recent update of the EU’s policy priorities to reflect ~~the transition towards a new~~new social and economic trends and the alteration of the economic model withat respect~~s planetary boundaries and~~ of the idea of shared prosperity; Amendment 60 # Motion for a resolution Paragraph 27 27. Welcomes the new EIB carbon footprint evaluation methodology and calls for its systematic implementation, with a particular focus on ~~marginal demand emissions and~~ indirect emissions (‘type 3’); calls for projects to be evaluated comprehensively and not merely by means of an economic life-cycle analysis of their emissions; Amendment 61 # Motion for a resolution Paragraph 28 28. Calls on the EIB to ~~require companies and~~explore possible options to set more stringent requirements for intermediary clients to disclose their exposure to fossil fuels, ~~to make decarbonisation plans conditional for companies and intermediaries to benefit from EIB support by the end of 2020~~stresses that such new requirements should not be at the detriment of access to finance for SMEs; Amendment 62 # Motion for a resolution Paragraph 28 a (new) 28a. Welcomes the EIB's adoption of the exclusion policy and calls for it to be used rigorously to exclude customers implicated in corruption or fraud from funding the EIB; Amendment 63 # Motion for a resolution Paragraph 29 29. Is of the opinion that, in line with best practices in the public and commercial banking sector9 , EIB financing should be subject to ambitious scientific objectives and commitments, with a view to phasing out its support to clients whose activities lead to significant GHG emissions; _________________ 9 Crédit Agricole has undertaken to end support for undertakings which develop or, the EIB should forcefully engage with companies whose activities are substantially harmful to the EU's environmental objectives and urge them to rapidly adopt environmental and climate targets in line with the Paris agreement, and transition plans to ~~develop their activities in the~~achieve these targets; coal sector. Crédit Agricole’s zero tolerance policy applies to all enterprises which develop or plan to develop their activities in the coal sector, ranging from extraction and energy production, to trade and transport.ls on the EIB to phase out support to clients whose activities continue to lead to significant GHG emissions; Amendment 64 # Motion for a resolution Paragraph 29 29. Is of the opinion that, in line with best practices in the commercial banking sector9 , EIB financing is~~hould be~~ subject to ambitious scientific objectives and commitments, w~~ith a view to phasing out its support to clients whose activities lead to significant GHG emissions~~elcomes that EIB has ended its support to the coal sector effectively already in 2013by the adoption of the 2013 version of its energy lending policy; _________________ 9 Crédit Agricole has undertaken to end support for undertakings which develop or plan to develop their activities in the coal sector. Crédit Agricole’s zero tolerance policy applies to all enterprises which develop or plan to develop their activities in the coal sector, ranging from extraction and energy production, to trade and transport. Amendment 65 # Motion for a resolution Paragraph 30 30. Welcomes the hydropower guidelines adopted in 201810 ~~and calls for the extension of the transparency requirements to all infrastructure projects~~; _________________ 10 EIB, ‘Environmental, Climate and Social Guidelines on Hydropower Development’, October 2019. Amendment 66 # Motion for a resolution Paragraph 30 30. Welcomes the hydropower guidelines adopted in 201810a and calls for the extension of ~~the~~its transparency requirements to all in~~frastructure~~termediated projects; _________________ 10aEIB, ‘Environmental, Climate and Social Guidelines on Hydropower Development’, October 2019. Amendment 67 # Motion for a resolution Paragraph 31 31. Reminds the EIB that biodiversity protection is a key element of adaptation to climate change and that the restoration of ecosystems is the only proven technology when it comes to negative emissions; ~~calls on the EIB to commit to ending the financing of projects which contribute to the loss and degradation of b~~notes that all EIB projects undergo a biodiversity risk assessment and must comply with the Biodiversity Stand ~~ecosystems, and to increase substantially~~ards of the Bank and calls to increase its funding to achieve the EU’s objectives in this area, in particular the objective of zero net deforestation and the objectives of marine and coastal protection; Amendment 68 # Motion for a resolution Paragraph 32 32. ~~Calls for~~Notes that the European Investment Fund (EIF) ~~to be~~is fully integrated into all EIB climate measures; ~~calls on the EIF to give greater priority to innovation needs for the transition to a climate-neutral Europe;~~ Amendment 69 # EIB’'s ~~external lending mandate~~operations outside of the EU Amendment 7 # Motion for a resolution Paragraph 4 4. Takes note of the 2018 geographical breakdown of signed finance contracts ~~with the main five beneficiary Member states being Spain (13,4%), Italy (13,3%), France (10,9%), Germany (8,3%) and Poland (7%)~~as a share of GDP; calls on the EIB to also report on signed finance contracts by country per capita and in relation to the county’s share in the EIB; calls for a balanced geographical distribution of investments to take into account the level of development and cohesion aspects of the countries and regions; Amendment 70 # Corina CREȚU Motion for a resolution Paragraph 33 33. Reiterates that poverty eradication, domestic resource mobilisation and human rights are core topics within the EU development finance architecture with an increased visibility of the actions funded; Believes that Implementation of the SDGs should be on the focus of the EU in the next years. Amendment 71 # Motion for a resolution Paragraph 37 37. Recalls the need to ~~constantly watch over the coherence of~~align the EIB operations with the objectives of the EU’s external policy; Amendment 72 # Motion for a resolution Paragraph 38 38. Calls on the EIB to ~~mak~~further improve Human Rights ~~chapter~~policies and make these a priority in ~~its~~their operations by adopting a comprehensive Human Rights Strategy, reinforcing Human Rights due diligence at project level throughout the lifespan of its projects and adapting governance and resources for an effective do-no-harm approach; also calls on the EIB to set up an effective mechanism whereby human rights defenders could safely alert the bank about deteriorating environment or risks of conflict and reprisal; Amendment 73 # Motion for a resolution Paragraph 38 38. ~~Calls on the EIB to make H~~Notes that human Rrights ~~chapter a priority in its operations by adopting a comprehensive Human Rights Strategy, reinforcing Human Rights due diligence at project level throughout the lifespan of~~principles are fully integrated into the Bank’s key due diligence procedures and standards, including ex-ante assessments; recalls that the EIB its projects and adapting governance and resources for an effective do-no-harm approach; also calls on the EIB to set up an effective mechanism whereby human rights defenders could safely alert the bank about deteriorating environment or risks of conflict and reprisaldirectly bound by the EU Charter of Fundamental Rights and that contractual clauses with clients allow for suspension of contracts in case of violations of human rights; welcomes the revision of the 2009 Statement of Environmental and Social Principles and Standards; Amendment 74 # Motion for a resolution Paragraph 39 39. Calls on the EIB to take into account the local context when investing in third countries; recalls that investing in third countries ~~cannot be based on a profit maximisation approach alone but must~~should also aim to generate long-term, private sector-led sustainable economic growth and reduce poverty through job creation and improved access to productive resources; Amendment 75 # Motion for a resolution Paragraph 39 39. Calls on the EIB to take into account the local context when investing in third countries; recalls that investing in third countries cannot be based on a profit maximisation approach alone but must also aim to generate long-term, private sector- led sustainable economic growth, support the fight against climate change and reduce poverty through job creation and improved access to productive resources; Amendment 76 # Motion for a resolution Paragraph 40 40. ~~Is concerned over reports that the EIB is understaffed as far as Human Rights specialists are concerned; calls therefore on the EIB to hire extra specialists and~~Notes that the EIB employs Human Rights specialists; calls on the EIB to make sure human rights considerations are taken into account all through its decision- making process ~~by better informing the Board of Directors~~; Amendment 77 # Motion for a resolution Paragraph 41 41. ~~Stress~~Notes that at project level the Commission and the EEAS ~~also~~ have a ~~strong~~ role to play as they are consulted on EIB projects under appraisal before these projects are proposed to the EIB Directors for adoption; Amendment 78 # Motion for a resolution Paragraph 42 42. ~~Asks~~Calls on the EIB to address the findings from the Commission evaluation on its external lending mandate pointing out that “it is difficult for Commission services to gain insight into EIB’s performance other than via external stakeholders, given that reporting on actual results is provided only after project completion and there is no obligation for the EIB to signal implementation problems.”; ~~finds~~notes the Commission’s conclusion that ~~the~~ “actual results and impacts of the EU intervention remain largely unknown“ ~~as highly problematic~~; Amendment 79 # Motion for a resolution Paragraph 43 43. Reiterates its interest to be involved and contribute to discussions between the Council and the EIB on the possible establishment of the bank’s new EU Development bank subsidiary; ~~Calls on the EIB to prioritize the poverty eradication, domestic resource mobilisation and human rights in its plans to set up a subsidiary for its development operations;~~ Amendment 8 # Motion for a resolution Paragraph 4 4. Takes note of the 2018 geographical breakdown of signed finance contracts with the main five beneficiary Member states behaving ~~Spain (13,4%), Italy (13,3%), France (10,9%), Germany (8,3%) and Poland (7%)~~in total a share of 52.9% ; calls on the EIB to also report on signed finance contracts by country per capita and in relation to the county’s share in the EIB; calls for a balanced geographical distribution of investments to take into account the level of development and cohesion aspects of the countries and regions; Amendment 80 # Motion for a resolution Paragraph 44 44. ~~Stress~~Notes that the key quantitative target of the European Fund for Strategic Investments (EFSI) of mobilising EUR 500 billion of additional private and public investment ~~should not be the main driver of success for EFSI and~~; notes that measurable targets on sustainability, and social impact should be ~~at least equally important~~included in future investment strategies;~~; financing;~~ Amendment 81 # Motion for a resolution Paragraph 46 46. Notes that the EFSI ~~is not a separate legal entity from the EIB but it~~ has a distinct governance structure than the EIB and its investment operations take place within two thematic areas i.e. the Infrastructure and Innovation Window managed by the EIB and the SME Window managed by the EIF; Amendment 82 # Corina CREȚU Motion for a resolution Paragraph 46 46. ~~Note~~Recalls that the EFSI ~~is not a separate legal entity from the EIB but it~~ has a distinct governance structure than the EIB and its investment operations take place within two thematic areas i.e. the Infrastructure and Innovation Window managed by the EIB and the SME Window managed by the EIF; Amendment 83 # Corina CREȚU Motion for a resolution Paragraph 48 a (new) 48 a. Notes with concern the Court's observations that the reported estimate of investment mobilised does not take account of the fact that some EFSI operations replaced other EIB operations and EU financial instruments and the fact that a part of the EFSI support went to projects that could have been financed from other sources of public or private finance under different conditions; Amendment 84 # Motion for a resolution Paragraph 49 49. ~~Reiterates its c~~Calls for an ~~objective~~ overview of the additionality~~, economic, social and environmental impact and true added value of the~~ of EFSI projects, as well as their consistency with Union policies or other EIB operations in order to become more policy driven than demand driven as pointed out in ECA’s Special report11 in January 2019; _________________ 11 https://www.eca.europa.eu/en/Pages/DocIt em.aspx?did=49051 Amendment 85 # Motion for a resolution Paragraph 50 50. ~~Stress~~Notes that EFSI operations were eligible to draw funds from ~~other~~ EU and national public sources on top of private investments ~~and that there is risk that some of the EFSI support went to projects that could have been financed from these sources even in case EFSI had not contributed; points to the risk of~~; notes the importance of avoiding reduced economy of spent financial resources and possible dead weight of such costs; underlines the need to guarantee additionality; Amendment 86 # Motion for a resolution Paragraph 51 51. Considers that any overlapping in spending by multiple investors and costs dead weight should be avoided in order to avoid unreliable or multiple results ownership from the financing of investments through several different channels;deleted Amendment 87 # Motion for a resolution Paragraph 52 52. ~~Encourages~~Calls for a better synergy between EFSI, national promotional banks (NPB) and investment platforms to improve the overall effectiveness of EFSI; Amendment 88 # Motion for a resolution Paragraph 54 54. Reiterates the ~~utmost~~ importance of ethics, integrity, transparency and accountability of the EIB and the EIF in all its operations; Amendment 89 # Motion for a resolution Paragraph 54 a (new) 54 a. Notes that the Commission issues an opinion on all financing operations within the framework of the procedure in accordance with Article 19 of the Statute of the EIB; calls on the Commission to make these opinions available upon delivery; Amendment 9 # Motion for a resolution Paragraph 4 4. Takes note of the 2018 geographical breakdown of signed finance contracts with the main five beneficiary Member states being Spain (13,4%), Italy (13,3%), France (10,9%), Germany (8,3%) and Poland (7%); calls on the EIB to also report on signed finance contracts by country per capita and in relation to the county’s share in the EIB; ~~calls for a balanced geographical distribution of investments to take into account the level of development and cohesion aspects of the countries and regions;~~ takes note of the 2018 geographical breakdown of signed finance contracts per capita with the main five beneficiary Member states being Greece 1.01% (EUR 1.87 bn), Cyprus 1.01% (EUR 0.21 bn), Portugal0.98% (EUR 1.98 bn), Croatia 0.98% (EUR 0.51 bn) and Poland 0.97% (EUR 4.79 bn); Amendment 90 # Motion for a resolution Paragraph 55 55. Believes that, according to changes in the EIB’s business model and challenges ahead, it is necessary to adapt the bank’s approach and related quality controls, to promote a sound risk culture and adaptive risk management in allRecommends to adapt the bank’s approach and related quality controls in the Bank entities ~~namely~~ to address adequately compliance risks and to support the full deployment of Results Based Budget principle within the EIB and the EIB Group; Amendment 91 # Motion for a resolution Paragraph 56 56. Calls for a ~~thorough~~n assessment and a report on risks and controls systems associated with blended finance with the European Commission, considering the impact of blending activities not only in terms of oversight but also in terms of governance options; Amendment 92 # Corina CREȚU Motion for a resolution Paragraph 59 59. ~~Recall~~Believes with regards to the review of the responsibilities of the EIB governance bodies that Members of the Management Committee should not be allowed to oversee lending or projects’ implementation in their home countries in order to avoid possible conflict of interests; believes that this should be reflected in the Code of Conduct of the ManagementCommittee and the Board of Directors be reviewedavoid possible conflict of interests in any circumstances; Amendment 93 # Motion for a resolution Paragraph 59 59. Recalls with regards to the review of the responsibilities of the EIB governance bodies that Members of the Management Committee should not be allowed to oversee lending or projects’ implementation in their home countries in order to avoid possible conflict of interests; believes that this should be reflected in the Code of Conduct of the Management Committee aund ~~the Board of Directors b~~er reviewed; Amendment 94 # Motion for a resolution Paragraph 60 60. ~~Regrets the persistent lack of~~Calls for more diversity and gender balance at the senior management level and within the EIB Group’s governing bodies; ~~calls on the EIB to address this as a matter of priority;~~ Amendment 95 # Motion for a resolution Paragraph 62 a (new) 62a. Invites the EIB to disclose details on the beneficial ownership of its customers on its website with a view to increasing the visibility of its operations and helping prevent cases of corruption and conflicts of interest; Amendment 96 # Motion for a resolution Paragraph 62 b (new) 62b. Asks the EIB to make the disbursement of direct and indirect loans conditional on the publication of country- by-country tax and accountancy data, and on the disclosure of information on beneficial ownership by the beneficiaries and financial intermediaries involved in financing operations; Amendment 97 # Motion for a resolution Paragraph 66 66. Recalls that public participation in the policy-making of the EIB is a way to improved accountability~~; believes that public/stakeholders participation should be strengthened, in particular effort should concern~~, in particular the involvement of local communities and citizens affected by EIB operations ~~to guarantee their meaningful consultation~~; Amendment 98 # Corina CREȚU Motion for a resolution Paragraph 66 66. Recalls that public participation in the policy-making of the EIB is a way to improved accountability; believes that public/stakeholders participation should be strengthened, in particular effort should concern the involvement of local communities and citizens affected by EIB operations ~~to guarantee their meaningful consultation~~; Amendment 99 # 68a. Expects the EIB's whistle-blower protection policy to be ambitious and to set high standards; urges the EIB to include in that review both internal and external whistle-blowers and to establish clear and well-defined procedures, time frames and guidelines in order to provide whistle-blowers with the best guidance and protect them from any possible retaliation; source: 648.435

Amendment 1 #

Motion for a resolution
Citation 17

— having regard to the to the Court of Auditors special report on E~~FSI in~~uropean Fund for Strategic Investment (EFSI) of January 20195 ), No 03/2019, _________________ 5 https://www.eca.europa.eu/en/Pages/DocIt em.aspx?did=49051

Amendment 10 #

Motion for a resolution
Paragraph 5

5. Takes note that Council agreed to sustain the bank’s capital base by replacing the UK contribution to the EIB’s paid-in capital by the Bank’s reserves and callable capital by proportional increases of contingent liabilities; takes note that Council agreed to an asymmetric capital increase leading to increases of the capital shares of Poland and Romania; calls on the EIB shareholders to for further increase~~s of~~ the EIB’s capitalisation to allow for more investment and more risk-taking to finance the necessary projects for the sustainable and digital transformation of the economy while preserving the EIB’s triple A rating;

Amendment 100 #

Motion for a resolution
Paragraph 69

69. ~~Regret~~Notes that the Complaints Mechanisms was ~~not sufficiently~~ reinforced at the end of 2018 ~~and considers that an access to an effective and independent complaints mechanism, including rights of redress, should be further developed~~;

Amendment 101 #

Motion for a resolution
Paragraph 69

69. Regrets that the Complaints Mechanisms was not sufficiently reinforced at the end of 2018 and considers that an access to an effective and independent complaints mechanism, including rights of redress, should be further developed; notes that he EIB has set up a new dedicated Project Procurement Complaints System to ensure more effective and independent handling of related grievances in 2019;

Amendment 102 #

Motion for a resolution
Paragraph 70

70. ~~Appreciat~~Welcomes the EIB’s efforts to publish new documentation on climate action, scoreboards from EFSI projects or project completion reports for finalised non-EU operations; considers that the EIB should also disclose Minutes of Board of Governors meetings, Minutes and agendas of Management Committee meetings, 3PA- REM sheets, Commission’s opinions on projects and Projects’ monitoring reports; understands however that certain limits apply with regard to document transparency to ensure protection of confidential information provided by EIB's clients and project partners;

Amendment 103 #

Motion for a resolution
Paragraph 70

70. Appreciates the EIB’s efforts to publish new documentation on climate action, scoreboards from EFSI projects or project completion reports for finalised non-EU operations; considers that the EIB should also disclose to the greatest extend possible Minutes of Board of Governors meetings, Minutes and agendas of Management Committee meetings, 3PA- REM sheets, ~~Commission’s opinions on projects~~ and Projects’ monitoring reports;

Amendment 104 #

Motion for a resolution
Paragraph 72

72. Awaits the results of the review launched in 2018 of the EIB/EIF anti-fraud policies and supports a more stringent approach towards its zero tolerance fraud, corruption policy and other forms of prohibited conduct,; ~~in this regard reiterates its call on the EIB to temporarily suspend financing of projects under ongoing investigation for fraud or corruption b~~calls on the EIB to increase its collaboration with OLAF and the EPPO in the future and to report all cases of potential fraud to the competent authorities; takes the view that the EPPO should in the future have the mandate to prosecute criminal activity ewith~~er national judiciary, EPPO or OLAF~~ regard to EIB funds in the EU Member States which are members of the EPPO;

Amendment 105 #

Motion for a resolution
Paragraph 73

73. ~~Reiterates its~~Notes that the EIB publishes details of its clients for each operation on its website; calls on the EIB to publish al~~l beneficial owners of EIB’s final beneficiaries and to further strengthen its~~so necessary information about beneficial owners; welcomes the current EIB Whistle-blowers’ protection policy;

Amendment 106 #

Motion for a resolution
Paragraph 75

75. Takes note of the agreement between the EIB and Volkswagen with the consequences to exclude Volkswagen from participating in any EIB project during 18 months and with the Volkswagen’s commitment to contribute to sustainability initiative including environmental protection; calls on the EIB to make an even longer period of exclusion from participating in any of EIB projects a standard practice for beneficiaries or financial intermediaries tainted by corruption as the EIB should also impose in cases like Passante di Mestre and MOSE infrastructure projects in Italy or Sostanj coal power plant in Slovenia;

Amendment 107 #

Motion for a resolution
Paragraph 75

75. Takes note of the agreement between the EIB and Volkswagen with the consequences to exclude Volkswagen from participating in any EIB project during 18 months and with the Volkswagen’s commitment to contribute to sustainability initiative including environmental protection; calls on the EIB to make an even longer period of exclusion from participating in any of EIB projects a standard practice for beneficiaries or financial intermediaries tainted by corruption as the EIB should also impose in cases like Passante di Mestre and MOSE infrastructure projects in Italy or Sostanj coal power plant in Slovenia;

Amendment 108 #

Corina CREȚU

Motion for a resolution
Paragraph 75

75. Takes note of the agreement between the EIB and Volkswagen with the consequences to exclude Volkswagen from participating in any EIB project during 18 months and with the Volkswagen’s commitment to contribute to sustainability initiative including environmental protection; calls on the EIB to make an even longer period of exclusion from participating in any of EIB projects a standard practice for beneficiaries or financial intermediaries tainted by corruption ~~as the EIB should also impose in cases like Passante di Mestre and MOSE infrastructure projects in Italy or Sostanj coal power plant in Slovenia~~;

Amendment 109 #

Motion for a resolution
Paragraph 75

75. Takes note of the agreement between the EIB and Volkswagen with the consequences to exclude Volkswagen from participating in any EIB project during 18 months and with the Volkswagen’s commitment to contribute to sustainability initiative including environmental protection; calls on the EIB to make an even longer period of exclusion from participating in any of EIB projects a standard practice for beneficiaries or financial intermediaries tainted by corruption a~~s the EIB should also impose in~~lso points to cases like Passante di Mestre and MOSE infrastructure projects in Italy orand the Sostanj coal power plant in Slovenia which are under national criminal investigations;

Amendment 11 #

Corina CREȚU

Motion for a resolution
Paragraph 5

5. Takes note that Council agreed to sustain the bank’s capital base by replacing the UK contribution to the EIB’s paid-in capital by the Bank’s reserves and callable capital by proportional increases of contingent liabilities; takes note that Council agreed to an asymmetric capital increase leading to increases of the capital shares of Poland and Romania; calls for further increases of the EIB’s capitalisation to allow for more investment and more risk-taking to finance the necessary projects for the sustainable and digital transformation of the economy as well as to projects that contribute at the same time to social and territorial cohesion within the EU while preserving the EIB’s triple A rating;

Amendment 110 #

Motion for a resolution
Paragraph 76

76. Supports a responsible taxation policy at the EIB by supporting the insertion of integrity clauses in the EIB’s group’s contracts, the execution of deep due diligence in relation to Non-Compliant Jurisdiction with a clear identification of the contracting counterparts and geographical location; ; welcomes the adoption of a Non-Compliant Jurisdiction policy in March2019 and calls for a swift implementation and regular reporting to the Parliament about its implementation;

Amendment 111 #

Motion for a resolution
Paragraph 80

80. Calls for a stronger external scrutiny on EIB by the Court of Auditors, the current provisions of the Tripartite Agreement signed in 2016 and governing cooperation between the European Investment Bank, the European Commission and the European Court of Auditors, should be ~~thoroughly reconsidered, when discuss~~enhanced ing the upcoming Tripartite Agreement due in September 2020;

Amendment 112 #

Motion for a resolution
Paragraph 81

~~81. Supports the European Court of Auditors’ position that the Court should be mandated to audit all EIB operations including those where the EIB uses non- EU budget funds for its operations;~~deleted

Amendment 113 #

Motion for a resolution
Paragraph 82 a (new)

82 a. Calls on the Committee on Budget Control to organise an annual workshop/hearing on activities and control of the EIB operations that would provide the Parliament with additional relevant information to support its work on the scrutiny of the EIB and its operations;

Amendment 114 #

Motion for a resolution
Paragraph 83 – point c

c) transparency following integrity due diligence of clients ~~and disclosure of information on financial intermediaries and final beneficiaries in relation~~ to prevent~~ion of~~ tax avoidance, fraud and corruption;

Amendment 12 #

Motion for a resolution
Paragraph 7

7. Notes that the EIB’s mission is to invest in viable projects that deliver on the EU’s policy objectives according to article 309 of the TFUE, especially measures to help regions lagging behind; stresses that prioritisation within the EIB’s lending activities should rest on sustainable projects with clear deliverables, added value and broader positive impacts;

Amendment 13 #

Motion for a resolution
Paragraph 7

7. Notes that the EIB’s mission is to invest in viable projects that deliver on the EU’s policy objectives according to article 309 of the TFUE; stresses that prioritisation within the EIB’s lending activities should rest on sustainable and viable projects with clear deliverables, added value and broader positive impacts;

Amendment 14 #

Corina CREȚU

Motion for a resolution
Paragraph 7

7. Notes that the EIB’s mission is to invest in viable projects that deliver on the EU’s policy objectives according to article 309 of the TFUE; stresses that prioritisation within the EIB’s lending activities should rest on sustainable projects with clear deliverables, added value and broader positive impacts including measures for developing less- developed regions;

Amendment 15 #

Motion for a resolution
Paragraph 7 a (new)

7 a. Calls on EIB as the Union’s bank, to increase levels of investment in the EU, supporting the EU’s sustainability, economic, social and job-creation ambitions and regional cohesion, innovation and competitiveness for a more sustainable and competitive European economy;

Amendment 16 #

Motion for a resolution
Paragraph 7 a (new)

7a. Calls on the EIB to take account of all risks to the environment posed by large-scale infrastructure projects, and to finance only projects with proven added value both for the local population as well as in environmental, social and economic terms; stresses the importance of both rigorous monitoring of possible risks of corruption and fraud in this context and conducting meticulous ex- ante and ex-post evaluations of the projects to be financed;

Amendment 17 #

Motion for a resolution
Paragraph 8

8. ~~Stresses its firm believe~~Emphasises that there is a political momentum around turning an ever growing share of EIB’s funding for climate and environmental sustainability or so called ‘European climate bank’; calls on this opportunity to be seized by civil society, Commission, Parliament and shareholders of the bank; ~~stresses that there is a genuine risk of greenwashing and continuing business as usual if urgent action is not undertaken in 2020 to fully align EIB’s operations with Paris Agreement;~~

Amendment 18 #

Corina CREȚU

Motion for a resolution
Paragraph 8

8. Stresses its firm believe that there is a political momentum around turning an ever growing share of EIB’s funding for climate and environmental sustainability or so called ‘European climate bank’; calls on this opportunity to be seized by civil society, Commission, Parliament and shareholders of the bank; stresses that there is a genuine risk of greenwashing and continuing business as usual if urgent action is not undertaken in 2020 to fully align EIB’s operations with Paris Agreement; Stresses furthermore that under the new developments, the EIB has to continue to support the regional development and EU social and economic cohesion objectives as provided in Protocol 28 to the TFEU.

Amendment 19 #

Motion for a resolution
Paragraph 8 a (new)

8a. Calls on the EIB to halt lending to fossil fuel projects and to increase investment in renewable energy sources and energy efficiency; asks the EIB to consider adopting this objective as a priority in the ongoing review of its energy-sector lending criteria;

Amendment 2 #

Motion for a resolution
Recital A a (new)

A a. Whereas the primary objective of the EIB is to contribute to the balanced and steady development of the internal market in the interest of the Union, according to Article 309 TFEU;

Amendment 20 #

Motion for a resolution
Paragraph 9

9. Calls on the EIB to focus on smaller, decentralised projects that are often community-owned and further develop the support to the citizens-led initiatives by strengthening technical assistance and financial expertise before project approval, in order to improve accessibility of EIB funding and the quality and sustainability of its operations; callson this regard for an adequate funding of advisory services in the next Multiannual Financial Framework;

Amendment 21 #

Motion for a resolution
Paragraph 9 a (new)

9a. Urges the EIB, when lending to industrial conglomerates, to ensure the latter fulfil their commitments in terms of job creation or maintaining employment, as well as building and maintaining production sites within the European Union;

Amendment 22 #

Motion for a resolution
Paragraph 10

10. ~~Reiterates its c~~Calls on the EIB to take into account ~~and follow up on opinions, positions and suggestions from~~ local stakeholders including civil society on the impact of investments on the local environment ~~in order to limit avoid or address potentially harmful impacts of projects financed by the EIB~~;

Amendment 23 #

Corina CREȚU

Motion for a resolution
Paragraph 10

10. ~~Reiterates its c~~Calls on the EIB to take into account ~~and follow up on~~the opinions, positions and suggestions from local stakeholders including civil society on the impact of investments on the local environment in order to limit avoid or address potentially harmful impacts of projects financed by the EIB;

Amendment 24 #

Motion for a resolution
Paragraph 11

11. ~~Calls on the EIB to strengthen its environmental and social safeguards in 2020 though~~Welcomes the revision of ~~its~~ the EIB's environmental and social ~~principles and standards~~framework later this year; calls on the EIB to ensure that “Do-No-Harm Principle” is applied throughout all of its operations;

Amendment 25 #

Motion for a resolution
Paragraph 11

11. Calls on the EIB to strengthen its environmental and social safeguards in 2020 though the revision of its environmental and social principles and standards; calls on the EIB to ensure that “Do-No-Harm Principle” is applied throughout all of its operations; calls on the EIB to commit to ending the financing of all projects that are not in line with the Paris Agreement and the EU's climate goals;

Amendment 26 #

Motion for a resolution
Paragraph 13

13. Is of the opinion that the EIB should continue to systematically report on mid and long-term economic, social and environmental impacts when defining the rationale of its investment; calls for this reporting to go beyond project outputs and to cover both the planning (ex ante) and the implementation phase of the project (ex post);

Amendment 27 #

Motion for a resolution
Paragraph 13

13. ~~Is of the opinion~~Welcomes that the EIB ~~should~~ systematically reports on ~~mid and long-term~~ economic, social and environmental impacts ~~when defining the r~~and provides ex-ante as well as ex-post evaluation~~ale~~s of ~~its investment~~the screening exercise regarding environmental and social impacts;

Amendment 28 #

Corina CREȚU

Motion for a resolution
Paragraph 13

13. Is of the opinion that the EIB should systematically report on mid and long-term economic, social and environmental impacts when defining the rationale of its investment, as well as to report on the results achieved based on its investment especially within the EU;

Amendment 29 #

Motion for a resolution
Paragraph 13 a (new)

13 a. Believes that there is need for effort in the development of a climate neutral economy on a national level and that the EIB should take a leading role in that matter; calls on the EIB to support national investment- and export-import banks in adopting environmental principles and measures similar to those of the EIB and committing to only financing projects that align with the Paris Agreement and the EU’s climate goals;

Amendment 3 #

Corina CREȚU

Motion for a resolution
Recital H

H. whereas public policy goals such as social cohesion, sustainable development and environmental goal should be at the core focus and targets of the Bank;

Amendment 30 #

Motion for a resolution
Subheading 3

The EIB’s role in financing the European Green Deal~~: Towards the “EU Climate Bank”~~

Amendment 31 #

Motion for a resolution
Paragraph 14

14. Considers that the EIB haplays an essential role to play in the fight against climate change and to limit global warming to max 1,5 degrees through its support of financing the transition to a climate neutral economy by 2050 and the decarbonisation of the EU economyimportant role in facing climate challenges, such as the global warming and decarbonisation of the EU economy; notes that the EIB should follow objectives set by the Green Deal;

Amendment 32 #

Motion for a resolution
Paragraph 15

15. Notes that the total climate investment in 2018 amounted to EUR 16,2 billion with the main volumes of investments being Low carbon energy (EUR 6 billion), renewable energy (EUR 4,1 billion) and energy efficiency (EUR 2,7 billion); notes that, in 2018, 29% of the EIB’s lending was climate related; ~~regrets that parallel to this the EIB has still financed several projects harmful to the goals of the Paris agreement;~~

Amendment 33 #

Motion for a resolution
Paragraph 15

15. Notes that the total climate investment in 2018 amounted to EUR 16,2 billion with the main volumes of investments being Low carbon energy (EUR 6 billion), renewable energy (EUR 4,1 billion) and energy efficiency (EUR 2,7 billion); notes that, in 2018, 29% of the EIB’s lending was climate related; ~~regrets that parallel to this the EIB has still financed several projects harmful to the goals of the Paris agreement;~~

Amendment 34 #

Motion for a resolution
Paragraph 16

16. Welcomes the issuing in 2018 of EUR 4 billion of climate awareness bonds as well as issuing of EUR 500 million of sustainability awareness bonds; stresses the need for a ~~binding~~n EU Green Bond Standard to ensure transparency and tracking of proceeds;

Amendment 35 #

Motion for a resolution
Paragraph 18

18. Stresses that the EIB’s ambition to be a key financial pillar in the Green Deal means the bank needs to step up its efforts to become a genuine “Climate Bank”; calls on the bank for a detailed roadmapCalls on the EIB to be drawn up ~~in 2020 following a public consultation process to fully align with the Paris Agreement; further calls on the bank that such~~ a roadmap ~~defines~~with specific, measurable, attainable, realistic and time- defined targets with regards to implementation of the Paris Agreement;

Amendment 36 #

Corina CREȚU

Motion for a resolution
Paragraph 18

18. Stresses that the EIB’s ambition to be a key financial pillar in the Green Deal means the bank needs to step up its efforts to become a genuine “Climate Bank”; calls on the bank for a detailed roadmap to be drawn up in 2020 following a public consultation process to fully align with the Paris Agreement; further calls on the bank that such a roadmap defines specific, measurable, attainable, realistic and time- defined targets which take into consideration the potential risk of increase in the differences between EU regions and Member States; Underlines the necessity of EIB’s activities to align the support of economic and social cohesion with the climate targets;

Amendment 37 #

Motion for a resolution
Paragraph 18

18. Stresses that the EIB’s ambition to be a key financial pillar in the Green Deal means the bank needs to step up its efforts to become a genuine “Climate Bank”; calls on the bank for a detailed roadmap to be drawn up in 2020 following a public consultation process to fully align with the Paris Agreement; further calls on the bank that such a roadmap defines specific, measurable, attainable, realistic and time- defined targets; Underlines the EIB’s activities in support of economic and social cohesion; Is concerned that climate targets may increase the difference between regions;

Amendment 38 #

Motion for a resolution
Paragraph 19

19. ~~Calls for~~Welcomes the ambitious commitments ~~to be enshrined in concrete policies; the EIB needs to make its commitments an essential part of its Corporate Operational Plan and of it~~of the EIB's Climate Strategy, as well as its sectoral lending strategies and safeguard policies;

Amendment 39 #

Motion for a resolution
Paragraph 20

20. Stresses that it is of utmost importance that all EIB investments and sectoral portfolios are aligned with Paris Agreement - including the 50% of the EIB’s financing which won’t be focusing on climate and environmental sustainability as such, especially in the economic and financial appraisal of EIB projects;deleted

Amendment 4 #

Corina CREȚU

Motion for a resolution
Paragraph 1

1. Notes that the EIB Group provided more than 64,19 billion euros of financing in 2018 and that 854 projects were signed,

Amendment 40 #

Motion for a resolution
Paragraph 20

20. Stresses that it is of utmost importance that all EIB investments and sectoral portfolios are aligned with Paris Agreement ~~- including the 50% of the EIB’s financing which won’t be focusing on climate and environmental sustainability as such, especially in the economic and financial appraisal of EIB projects;~~

Amendment 41 #

Corina CREȚU

Motion for a resolution
Paragraph 20

20. Stresses that it is of utmost importance that all EIB investments and sectoral portfolios are aligned with Paris Agreement ~~- including the 50% of the EIB’s financing which won’t be focusing on climate and environmental sustainability as such, especially in the economic and financial appraisal of EIB projects~~;

Amendment 42 #

Motion for a resolution
Paragraph 21

21. Deplores that the EIB in 2018 approved financing for large gas infrastructure projects including gas pipelines to the EU from Turkmenistan and Azerbaijan (Trans Anatolia Natural Gas Pipeline) and from Greece to Italy via Albania and the Adriatic Sea (Trans- Adriatic Pipeline); stresses that these investments will exacerbate the EU’s large excess of gas import capacities, contain a high risk of assets to become stranded and are inconsistent with the emission reductions required by the Paris Agreement;deleted

Amendment 43 #

Corina CREȚU

Motion for a resolution
Paragraph 21

21. ~~Deplor~~Notes that the EIB in 2018 approved financing for large gas infrastructure projects including gas pipelines to the EU from Turkmenistan and Azerbaijan (Trans Anatolia Natural Gas Pipeline) and from Greece to Italy via Albania and the Adriatic Sea (Trans- Adriatic Pipeline); stresses that these investments will exacerbate the EU’s large excess of gas import capacities, contain a high risk of assets to become stranded and are inconsistent with the emission reductions required by the Paris Agreement;

Amendment 44 #

21. ~~Deplor~~Welcomes that the EIB in 2018 approved financing for large gas infrastructure projects including gas pipelines to the EU from Turkmenistan and Azerbaijan (Trans Anatolia Natural Gas Pipeline) and from Greece to Italy via Albania and the Adriatic Sea (Trans- Adriatic Pipeline); stresses that these investments will exacerbate the EU’s large excess of gas import capacities, contain a high risk of assets to become stranded and are inconsistent with the emission reductions required by the Paris Agreement;

Amendment 45 #

Motion for a resolution
Paragraph 21

21. ~~Deplor~~Notes that the EIB in 2018 approved financing for large gas infrastructure projects including gas pipelines to the EU from Turkmenistan and Azerbaijan (Trans Anatolia Natural Gas Pipeline) and from Greece to Italy via Albania and the Adriatic Sea (Trans- Adriatic Pipeline); stresses that these investments ~~will exacerbat~~are included in the in the 4th~~e EU’s large excess of gas import capaciti~~ list of Projects of Common Interes,t co~~ntain a high risk of assets to become stranded and are inconsistent with the emission reductions required by the Paris Agreement~~- financed with EU budget, projects that are essential for European internal energy market and for reaching the EU's energy policy goals;

Amendment 46 #

Motion for a resolution
Paragraph 22

22. Considers the new EIB Energy Lending Policy a major improvement, in particular the decision to stop lending to fossil-fuel energy projects by the end of 2021 and the example it sets for other banks; regrets that gas projects can benefit from EIB financing until the end of 2021 and that support for gas projects planned for the transport of low-carbon gases is set to continue; calls on the EIB to avoid that the provisions on low-carbon gases lead to any approval of lending to projects with carbon intensive lock-in effects using loopholes and calls on the EIB to refrain from signing contracts for new gas projects before the fossil fuels ban enters into force; calls for the Energy Lending Policy to be reviewed at the start of 2022 to remove existing exemptions to the fossil-fuel ban and fully align it to the Paris Agreementdeleted

Amendment 47 #

Corina CREȚU

Motion for a resolution
Paragraph 22

22. Considers the new EIB Energy Lending Policy a major improvement, in particular the decision to stop lending to fossil-fuel energy projects by the end of 2021 and the example it sets for other banks; regrets that gas projects can benefit from EIB financing until the end of 2021 and that support for gas projects planned for the transport of low-carbon gases is set to continue; calls on the EIB to avoid that the provisions on low-carbon gases lead to any approval of lending to projects with carbon intensive lock-in effects using loopholes and calls on the EIB to refrain from signing contracts for new gas projects before the fossil fuels ban enters into force; calls for the Energy Lending Policy to be reviewed at the start of 2022 to remove existing exemptions to the fossil-fuel ban and fully align it to the Paris Agreement

Amendment 48 #

Motion for a resolution
Paragraph 22

22. Considers the new EIB Energy Lending Policy a major improvement, in particular the decision to stop lending to fossil-fuel energy projects by the end of 2021 and the example it sets for other banks; regrets that gas projects can benefit from EIB financing until the end of 2021 and that support for gas projects planned for the transport of low-carbon gases is set to continue; calls on the EIB to avoid that the provisions on low-carbon gases lead to any approval of lending to projects with carbon intensive lock-in effects using loopholes and calls on the EIB to refrain from signing contracts for new gas projects before the fossil fuels ban enters into force; calls for the Energy Lending Policy to be reviewed at the start of 2022 to remove existing exemptions to the fossil-fuel ban and fully align it to the Paris Agreement

Amendment 49 #

Motion for a resolution
Paragraph 22

22. ~~Considers~~Takes note of the new EIB Energy Lending Policy ~~a major improvement, in particular the decision to stop lending to fossil-fuel energy projects by the end of 2021 and the example it sets for other banks; regret~~; notes that gas projects can benefit from EIB financing until the end of 2021 and that support for gas projects planned for the transport of low-carbon gases is set to continue; calls on the EIB to avoid that the provisions on low-carbon gases lead to any approval of lending to projects with carbon intensive lock-in effects using loopholes and calls on the EIB to refrain from signing contracts for new gas projects before the fossil fuels ban enters into force; calls for the Energy Lending Policy to be reviewed at the start of 2022 to remove existing exemptions to the fossil- fuel ban and fully align it to the Paris Agreemenstresses the need to ensure that the use of energy sources such as natural gas and their subsequent financing continues in the transition phase to the objective of achieving climate neutrality by 2050 at the latest; calls for the Energy Lending Policy to be reviewed at the start of 2022 and to be brought in line with the European Sustainable Finance Taxonomy and the European Green Pact

Amendment 5 #

Corina CREȚU

Motion for a resolution
Paragraph 3

3. Notes the EIB’s two over-arching policy goals related to EU social and economic cohesion and to climate action plus the four primary public policy goals of innovation, SMEs and Mid-cap financing, infrastructure and environment; stresses that these primary public policy goals should be fully aligned with the recent update of the EU’s policy priorities to reflect the transition towards a new sustainable economic model that respects planetary boundaries, social fairness and shared prosperity;

Amendment 50 #

Motion for a resolution
Paragraph 22

22. Considers the new EIB Energy Lending Policy a major improvement, in particular the decision to stop lending to fossil-fuel energy projects by the end of 2021 and the example it sets for other banks; regrets that gas projects can benefit from EIB financing until the end of 2021 and that support for gas projects planned for the transport of low-carbon gases is set to continue; calls on the EIB to avoid that the provisions on low-carbon gases lead to any approval of lending to projects with carbon intensive lock-in effects using loopholes and calls on the EIB to refrain from signing contracts for new gas projects before the fossil fuels ban enters into force; ~~calls for~~notes that the Energy Lending Policy towill be reviewed at the start of 2022 and calls for this review to remove existing exemptions to the fossil-fuel ban and fully align it to the Paris Agreement;

Amendment 51 #

Motion for a resolution
Paragraph 23

23. Welcomes the future focus of the EIB on Just Transition, expects the EIB to ~~strongly~~ contribute to the Just Transition Mechanism, especially under its future Public Sector Loan Facility and its operations under InvestEU;

Amendment 52 #

Motion for a resolution
Paragraph 24

24. Expresses its concern that the share of financing provided to roads, motorways, and air transport in 2018 was higher than the 2014-2018 average whereas the financing to railways in 2018 was lower than the 2014-2018 average; notes that total financing provided to air transport in 2018 amounts to 725 million EUR; calls on the EIB in the review of its TLooks forward to the EIB's review of its transport policy; calls for a new transport ~~Lend~~financing Ppolicy to ~~end lending to air transport and to full alignment it with the Paris agreement~~decarbonise the EU transport sector by 2050;

Amendment 53 #

Motion for a resolution
Paragraph 24

24. ~~Expresses its concern~~Recognises the fact that the share of financing provided to roads, motorways, and air transport in 2018 was higher than the 2014-2018 average whereas the financing to railways in 2018 was lower than the 2014-2018 average; ~~notes that total financing provided to air transport in 2018 amounts to 725 million EUR;~~ calls on the EIB ~~in the review of~~to rethink its Transport Lending Policy to ~~end lending to air transport and to full alignment it with the Paris agreement~~to correct discrepancies by affording preference to railways;

Amendment 54 #

Motion for a resolution
Paragraph 24

24. ~~Expresses its concern~~Notes that the share of financing provided to roads, motorways, and air transport in 2018 was higher than the 2014- 2018 average whereas the financing to railways in 2018 was lower than the 2014- 2018 average; notes that total financing provided to air transport in 2018 amounts to 725 million EUR; ~~calls on the EIB in the review of its Transport Lending Policy toend lending to air transport and to full alignment it with the Paris agreement;~~

Amendment 55 #

Motion for a resolution
Paragraph 25

25. Calls on the Commission to supplement the framework on sustainable investment with criteria for economic activities with a significant negative environmental impact which could be applied by the EIB;deleted

Amendment 56 #

Corina CREȚU

Motion for a resolution
Paragraph 25

25. Calls on the Commission to supplement the framework on sustainable investment with criteria for economic activities with a significant negative environmental impact which could be applied by the EIB; Acknowledges the EIB efforts to contribute to sustainable development goals

Amendment 57 #

Motion for a resolution
Paragraph 26

26. Calls ~~on the EIB to make concrete decarbonisation plans a condition for EIB support to carbon-intensive industrial sectors such as cement, petrochemicals and steel~~for new policies to be implemented in carbon-intensive industrial sectors in which the EIB is active, such as cement,petrochemicals and steel, with a view to focusing on the sustainability of these sectors and carefully weighing the consequences of any termination of ongoing contracts, focusing on the promotion of a circular economy;

Amendment 58 #

Motion for a resolution
Paragraph 26 a (new)

26 a. Notes that the climate problem cannot be solved without support of industry, a large scale change can only be achieved if the industry is taken on board and the necessary incentives are given for innovative climate solutions

Amendment 59 #

Motion for a resolution
Paragraph 27

27. Welcomes the new EIB carbon footprint evaluation methodology and calls for its systematic implementation, ~~with a particular focus on marginal demand emissions and indirect emissions (‘type 3’);~~ calls for projects to be evaluated comprehensively and not merely by means of an economic life-cycle analysis of their emissions;

Amendment 6 #

Motion for a resolution
Paragraph 3

3. Notes the EIB’s two over-arching policy goals related to EU social and economic cohesion and to climate action plus the four primary public policy goals of innovation, SMEs and Mid-cap financing, infrastructure and environment; stresses that these primary public policy goals should be fully aligned with the recent update of the EU’s policy priorities to reflect ~~the transition towards a new~~new social and economic trends and the alteration of the economic model withat respect~~s planetary boundaries and~~ of the idea of shared prosperity;

Amendment 60 #

Motion for a resolution
Paragraph 27

27. Welcomes the new EIB carbon footprint evaluation methodology and calls for its systematic implementation, with a particular focus on ~~marginal demand emissions and~~ indirect emissions (‘type 3’); calls for projects to be evaluated comprehensively and not merely by means of an economic life-cycle analysis of their emissions;

Amendment 61 #

Motion for a resolution
Paragraph 28

28. Calls on the EIB to ~~require companies and~~explore possible options to set more stringent requirements for intermediary clients to disclose their exposure to fossil fuels, ~~to make decarbonisation plans conditional for companies and intermediaries to benefit from EIB support by the end of 2020~~stresses that such new requirements should not be at the detriment of access to finance for SMEs;

Amendment 62 #

Motion for a resolution
Paragraph 28 a (new)

28a. Welcomes the EIB's adoption of the exclusion policy and calls for it to be used rigorously to exclude customers implicated in corruption or fraud from funding the EIB;

Amendment 63 #

Motion for a resolution
Paragraph 29

29. Is of the opinion that, in line with best practices in the public and commercial banking sector9 , EIB financing should be subject to ambitious scientific objectives and commitments, with a view to phasing out its support to clients whose activities lead to significant GHG emissions; _________________ 9 Crédit Agricole has undertaken to end support for undertakings which develop or, the EIB should forcefully engage with companies whose activities are substantially harmful to the EU's environmental objectives and urge them to rapidly adopt environmental and climate targets in line with the Paris agreement, and transition plans to ~~develop their activities in the~~achieve these targets; coal sector. Crédit Agricole’s zero tolerance policy applies to all enterprises which develop or plan to develop their activities in the coal sector, ranging from extraction and energy production, to trade and transport.ls on the EIB to phase out support to clients whose activities continue to lead to significant GHG emissions;

Amendment 64 #

Motion for a resolution
Paragraph 29

29. Is of the opinion that, in line with best practices in the commercial banking sector9 , EIB financing is~~hould be~~ subject to ambitious scientific objectives and commitments, w~~ith a view to phasing out its support to clients whose activities lead to significant GHG emissions~~elcomes that EIB has ended its support to the coal sector effectively already in 2013by the adoption of the 2013 version of its energy lending policy; _________________ 9 Crédit Agricole has undertaken to end support for undertakings which develop or plan to develop their activities in the coal sector. Crédit Agricole’s zero tolerance policy applies to all enterprises which develop or plan to develop their activities in the coal sector, ranging from extraction and energy production, to trade and transport.

Amendment 65 #

Motion for a resolution
Paragraph 30

30. Welcomes the hydropower guidelines adopted in 201810 ~~and calls for the extension of the transparency requirements to all infrastructure projects~~; _________________ 10 EIB, ‘Environmental, Climate and Social Guidelines on Hydropower Development’, October 2019.

Amendment 66 #

Motion for a resolution
Paragraph 30

30. Welcomes the hydropower guidelines adopted in 201810a and calls for the extension of ~~the~~its transparency requirements to all in~~frastructure~~termediated projects; _________________ 10aEIB, ‘Environmental, Climate and Social Guidelines on Hydropower Development’, October 2019.

Amendment 67 #

Motion for a resolution
Paragraph 31

31. Reminds the EIB that biodiversity protection is a key element of adaptation to climate change and that the restoration of ecosystems is the only proven technology when it comes to negative emissions; ~~calls on the EIB to commit to ending the financing of projects which contribute to the loss and degradation of b~~notes that all EIB projects undergo a biodiversity risk assessment and must comply with the Biodiversity Stand ~~ecosystems, and to increase substantially~~ards of the Bank and calls to increase its funding to achieve the EU’s objectives in this area, in particular the objective of zero net deforestation and the objectives of marine and coastal protection;

Amendment 68 #

Motion for a resolution
Paragraph 32

32. ~~Calls for~~Notes that the European Investment Fund (EIF) ~~to be~~is fully integrated into all EIB climate measures; ~~calls on the EIF to give greater priority to innovation needs for the transition to a climate-neutral Europe;~~

Amendment 69 #

EIB’'s ~~external lending mandate~~operations outside of the EU

Amendment 7 #

Motion for a resolution
Paragraph 4

4. Takes note of the 2018 geographical breakdown of signed finance contracts ~~with the main five beneficiary Member states being Spain (13,4%), Italy (13,3%), France (10,9%), Germany (8,3%) and Poland (7%)~~as a share of GDP; calls on the EIB to also report on signed finance contracts by country per capita and in relation to the county’s share in the EIB; calls for a balanced geographical distribution of investments to take into account the level of development and cohesion aspects of the countries and regions;

Amendment 70 #

Corina CREȚU

Motion for a resolution
Paragraph 33

33. Reiterates that poverty eradication, domestic resource mobilisation and human rights are core topics within the EU development finance architecture with an increased visibility of the actions funded; Believes that Implementation of the SDGs should be on the focus of the EU in the next years.

Amendment 71 #

Motion for a resolution
Paragraph 37

37. Recalls the need to ~~constantly watch over the coherence of~~align the EIB operations with the objectives of the EU’s external policy;

Amendment 72 #

Motion for a resolution
Paragraph 38

38. Calls on the EIB to ~~mak~~further improve Human Rights ~~chapter~~policies and make these a priority in ~~its~~their operations by adopting a comprehensive Human Rights Strategy, reinforcing Human Rights due diligence at project level throughout the lifespan of its projects and adapting governance and resources for an effective do-no-harm approach; also calls on the EIB to set up an effective mechanism whereby human rights defenders could safely alert the bank about deteriorating environment or risks of conflict and reprisal;

Amendment 73 #

Motion for a resolution
Paragraph 38

38. ~~Calls on the EIB to make H~~Notes that human Rrights ~~chapter a priority in its operations by adopting a comprehensive Human Rights Strategy, reinforcing Human Rights due diligence at project level throughout the lifespan of~~principles are fully integrated into the Bank’s key due diligence procedures and standards, including ex-ante assessments; recalls that the EIB its projects and adapting governance and resources for an effective do-no-harm approach; also calls on the EIB to set up an effective mechanism whereby human rights defenders could safely alert the bank about deteriorating environment or risks of conflict and reprisaldirectly bound by the EU Charter of Fundamental Rights and that contractual clauses with clients allow for suspension of contracts in case of violations of human rights; welcomes the revision of the 2009 Statement of Environmental and Social Principles and Standards;

Amendment 74 #

Motion for a resolution
Paragraph 39

39. Calls on the EIB to take into account the local context when investing in third countries; recalls that investing in third countries ~~cannot be based on a profit maximisation approach alone but must~~should also aim to generate long-term, private sector-led sustainable economic growth and reduce poverty through job creation and improved access to productive resources;

Amendment 75 #

Motion for a resolution
Paragraph 39

39. Calls on the EIB to take into account the local context when investing in third countries; recalls that investing in third countries cannot be based on a profit maximisation approach alone but must also aim to generate long-term, private sector- led sustainable economic growth, support the fight against climate change and reduce poverty through job creation and improved access to productive resources;

Amendment 76 #

Motion for a resolution
Paragraph 40

40. ~~Is concerned over reports that the EIB is understaffed as far as Human Rights specialists are concerned; calls therefore on the EIB to hire extra specialists and~~Notes that the EIB employs Human Rights specialists; calls on the EIB to make sure human rights considerations are taken into account all through its decision- making process ~~by better informing the Board of Directors~~;

Amendment 77 #

Motion for a resolution
Paragraph 41

41. ~~Stress~~Notes that at project level the Commission and the EEAS ~~also~~ have a ~~strong~~ role to play as they are consulted on EIB projects under appraisal before these projects are proposed to the EIB Directors for adoption;

Amendment 78 #

Motion for a resolution
Paragraph 42

42. ~~Asks~~Calls on the EIB to address the findings from the Commission evaluation on its external lending mandate pointing out that “it is difficult for Commission services to gain insight into EIB’s performance other than via external stakeholders, given that reporting on actual results is provided only after project completion and there is no obligation for the EIB to signal implementation problems.”; ~~finds~~notes the Commission’s conclusion that ~~the~~ “actual results and impacts of the EU intervention remain largely unknown“ ~~as highly problematic~~;

Amendment 79 #

Motion for a resolution
Paragraph 43

43. Reiterates its interest to be involved and contribute to discussions between the Council and the EIB on the possible establishment of the bank’s new EU Development bank subsidiary; ~~Calls on the EIB to prioritize the poverty eradication, domestic resource mobilisation and human rights in its plans to set up a subsidiary for its development operations;~~

Amendment 8 #

Motion for a resolution
Paragraph 4

4. Takes note of the 2018 geographical breakdown of signed finance contracts with the main five beneficiary Member states behaving ~~Spain (13,4%), Italy (13,3%), France (10,9%), Germany (8,3%) and Poland (7%)~~in total a share of 52.9% ; calls on the EIB to also report on signed finance contracts by country per capita and in relation to the county’s share in the EIB; calls for a balanced geographical distribution of investments to take into account the level of development and cohesion aspects of the countries and regions;

Amendment 80 #

Motion for a resolution
Paragraph 44

44. ~~Stress~~Notes that the key quantitative target of the European Fund for Strategic Investments (EFSI) of mobilising EUR 500 billion of additional private and public investment ~~should not be the main driver of success for EFSI and~~; notes that measurable targets on sustainability, and social impact should be ~~at least equally important~~included in future investment strategies;~~; financing;~~

Amendment 81 #

Motion for a resolution
Paragraph 46

46. Notes that the EFSI ~~is not a separate legal entity from the EIB but it~~ has a distinct governance structure than the EIB and its investment operations take place within two thematic areas i.e. the Infrastructure and Innovation Window managed by the EIB and the SME Window managed by the EIF;

Amendment 82 #

Corina CREȚU

Motion for a resolution
Paragraph 46

46. ~~Note~~Recalls that the EFSI ~~is not a separate legal entity from the EIB but it~~ has a distinct governance structure than the EIB and its investment operations take place within two thematic areas i.e. the Infrastructure and Innovation Window managed by the EIB and the SME Window managed by the EIF;

Amendment 83 #

Corina CREȚU

Motion for a resolution
Paragraph 48 a (new)

48 a. Notes with concern the Court's observations that the reported estimate of investment mobilised does not take account of the fact that some EFSI operations replaced other EIB operations and EU financial instruments and the fact that a part of the EFSI support went to projects that could have been financed from other sources of public or private finance under different conditions;

Amendment 84 #

Motion for a resolution
Paragraph 49

49. ~~Reiterates its c~~Calls for an ~~objective~~ overview of the additionality~~, economic, social and environmental impact and true added value of the~~ of EFSI projects, as well as their consistency with Union policies or other EIB operations in order to become more policy driven than demand driven as pointed out in ECA’s Special report11 in January 2019; _________________ 11 https://www.eca.europa.eu/en/Pages/DocIt em.aspx?did=49051

Amendment 85 #

Motion for a resolution
Paragraph 50

50. ~~Stress~~Notes that EFSI operations were eligible to draw funds from ~~other~~ EU and national public sources on top of private investments ~~and that there is risk that some of the EFSI support went to projects that could have been financed from these sources even in case EFSI had not contributed; points to the risk of~~; notes the importance of avoiding reduced economy of spent financial resources and possible dead weight of such costs; underlines the need to guarantee additionality;

Amendment 86 #

Motion for a resolution
Paragraph 51

51. Considers that any overlapping in spending by multiple investors and costs dead weight should be avoided in order to avoid unreliable or multiple results ownership from the financing of investments through several different channels;deleted

Amendment 87 #

Motion for a resolution
Paragraph 52

52. ~~Encourages~~Calls for a better synergy between EFSI, national promotional banks (NPB) and investment platforms to improve the overall effectiveness of EFSI;

Amendment 88 #

Motion for a resolution
Paragraph 54

54. Reiterates the ~~utmost~~ importance of ethics, integrity, transparency and accountability of the EIB and the EIF in all its operations;

Amendment 89 #

Motion for a resolution
Paragraph 54 a (new)

54 a. Notes that the Commission issues an opinion on all financing operations within the framework of the procedure in accordance with Article 19 of the Statute of the EIB; calls on the Commission to make these opinions available upon delivery;

Amendment 9 #

Motion for a resolution
Paragraph 4

4. Takes note of the 2018 geographical breakdown of signed finance contracts with the main five beneficiary Member states being Spain (13,4%), Italy (13,3%), France (10,9%), Germany (8,3%) and Poland (7%); calls on the EIB to also report on signed finance contracts by country per capita and in relation to the county’s share in the EIB; ~~calls for a balanced geographical distribution of investments to take into account the level of development and cohesion aspects of the countries and regions;~~ takes note of the 2018 geographical breakdown of signed finance contracts per capita with the main five beneficiary Member states being Greece 1.01% (EUR 1.87 bn), Cyprus 1.01% (EUR 0.21 bn), Portugal0.98% (EUR 1.98 bn), Croatia 0.98% (EUR 0.51 bn) and Poland 0.97% (EUR 4.79 bn);

Amendment 90 #

Motion for a resolution
Paragraph 55

55. Believes that, according to changes in the EIB’s business model and challenges ahead, it is necessary to adapt the bank’s approach and related quality controls, to promote a sound risk culture and adaptive risk management in allRecommends to adapt the bank’s approach and related quality controls in the Bank entities ~~namely~~ to address adequately compliance risks and to support the full deployment of Results Based Budget principle within the EIB and the EIB Group;

Amendment 91 #

Motion for a resolution
Paragraph 56

56. Calls for a ~~thorough~~n assessment and a report on risks and controls systems associated with blended finance with the European Commission, considering the impact of blending activities not only in terms of oversight but also in terms of governance options;

Amendment 92 #

Corina CREȚU

Motion for a resolution
Paragraph 59

59. ~~Recall~~Believes with regards to the review of the responsibilities of the EIB governance bodies that Members of the Management Committee should not be allowed to oversee lending or projects’ implementation in their home countries in order to avoid possible conflict of interests; believes that this should be reflected in the Code of Conduct of the ManagementCommittee and the Board of Directors be reviewedavoid possible conflict of interests in any circumstances;

Amendment 93 #

Motion for a resolution
Paragraph 59

59. Recalls with regards to the review of the responsibilities of the EIB governance bodies that Members of the Management Committee should not be allowed to oversee lending or projects’ implementation in their home countries in order to avoid possible conflict of interests; believes that this should be reflected in the Code of Conduct of the Management Committee aund ~~the Board of Directors b~~er reviewed;

Amendment 94 #

Motion for a resolution
Paragraph 60

60. ~~Regrets the persistent lack of~~Calls for more diversity and gender balance at the senior management level and within the EIB Group’s governing bodies; ~~calls on the EIB to address this as a matter of priority;~~

Amendment 95 #

Motion for a resolution
Paragraph 62 a (new)

62a. Invites the EIB to disclose details on the beneficial ownership of its customers on its website with a view to increasing the visibility of its operations and helping prevent cases of corruption and conflicts of interest;

Amendment 96 #

Motion for a resolution
Paragraph 62 b (new)

62b. Asks the EIB to make the disbursement of direct and indirect loans conditional on the publication of country- by-country tax and accountancy data, and on the disclosure of information on beneficial ownership by the beneficiaries and financial intermediaries involved in financing operations;

Amendment 97 #

Motion for a resolution
Paragraph 66

66. Recalls that public participation in the policy-making of the EIB is a way to improved accountability~~; believes that public/stakeholders participation should be strengthened, in particular effort should concern~~, in particular the involvement of local communities and citizens affected by EIB operations ~~to guarantee their meaningful consultation~~;

Amendment 98 #

Corina CREȚU

Motion for a resolution
Paragraph 66

66. Recalls that public participation in the policy-making of the EIB is a way to improved accountability; believes that public/stakeholders participation should be strengthened, in particular effort should concern the involvement of local communities and citizens affected by EIB operations ~~to guarantee their meaningful consultation~~;

Amendment 99 #

68a. Expects the EIB's whistle-blower protection policy to be ambitious and to set high standards; urges the EIB to include in that review both internal and external whistle-blowers and to establish clear and well-defined procedures, time frames and guidelines in order to provide whistle-blowers with the best guidance and protect them from any possible retaliation;

docs/2	date 2020-06-16T00:00:00 docs url: https://www.europarl.europa.eu/doceo/document/A-9-2020-0118_EN.html title: A9-0118/2020 type Committee report tabled for plenary, single reading body EP
events/2/docs	url: https://www.europarl.europa.eu/doceo/document/A-9-2020-0118_EN.html title: A9-0118/2020

events/2	date 2020-06-16T00:00:00 type Committee report tabled for plenary, single reading body EP
procedure/stage_reached	Old Awaiting committee decision New Awaiting Parliament's vote

events/1	date 2020-05-28T00:00:00 type Vote in committee, 1st reading/single reading body EP
forecasts/0	date 2020-06-17T00:00:00 title Indicative plenary sitting date, 1st reading/single reading
forecasts/0	date 2020-05-28T00:00:00 title Vote scheduled in committee, 1st reading/single reading
forecasts/0/date	Old 2020-06-17T00:00:00 New 2020-07-08T00:00:00
forecasts/1	date 2020-06-17T00:00:00 title Indicative plenary sitting date, 1st reading/single reading
procedure/Modified legal basis	Rules of Procedure EP 159

docs/0/docs/0/url	Old http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE644.864 New https://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE644.864
docs/1	date 2020-03-03T00:00:00 docs title: PE648.435 type Amendments tabled in committee body EP
forecasts/1/date	Old 2020-04-01T00:00:00 New 2020-04-22T00:00:00

Progress: Awaiting Parliament's vote

Lead committee dossier:

CONT/9/01630

Legal Basis:

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