Next event: Commission response to text adopted in plenary 2021/05/03 more...
- Final act published in Official Journal 2021/03/26
- End of procedure in Parliament 2021/03/25
- Draft final act 2021/03/24
- Final act signed 2021/03/24
- Act adopted by Council after Parliament's 1st reading 2021/03/17
- Results of vote in Parliament 2021/03/09
- Debate in Parliament 2021/03/09
- Decision by Parliament, 1st reading 2021/03/09
- Approval in committee of the text agreed at 1st reading interinstitutional negotiations 2021/01/11
- Decision by Parliament, 1st reading 2020/11/13
- Matter referred back to the committee responsible 2020/11/13
- Committee report tabled for plenary, 1st reading/single reading 2020/11/03
- Committee report tabled for plenary, 1st reading 2020/11/03
- Vote in committee, 1st reading 2020/10/28
- Rejection by committee to open interinstitutional negotiations with report adopted in committee 2020/10/28
- Committee opinion 2020/10/08
Progress: Procedure completed
Lead committee dossier:
Legal Basis:
RoP 57, RoP 58, TFEU 173-p3, TFEU 175-p3
Legal Basis:
RoP 57, RoP 58, TFEU 173-p3, TFEU 175-p3Events
The European Parliament adopted by 496 votes to 57, with 144 abstentions, a legislative resolution on the proposal for a regulation of the European Parliament and of the Council establishing the InvestEU programme.
The proposed regulation aims to establish the InvestEU Fund, which will provide an EU guarantee in support of financing and investment operations carried out by implementing partners that contribute to the EU's policy objectives. The Commission and the EIB Group would establish a partnership to support the implementation of the InvestEU programme and promote its consistency, inclusiveness, additionality and efficient deployment.
The European Parliament's position adopted at first reading under the ordinary legislative procedure amends the Commission's proposal as follows:
Objectives of the InvestEU Programme
The general objective of the InvestEU Programme is to support the policy objectives of the Union by means of financing and investment operations that contribute to:
- the competitiveness of the Union, including research, innovation and digitisation;
- growth and employment in the Union economy, the sustainability of the Union economy and its environmental and climate dimension contributing to the achievement of the SDGs and the objectives of the Paris Agreement and to the creation of high-quality jobs;
- the social resilience, inclusiveness and innovativeness of the Union;
- the promotion of scientific and technological advances, of culture, education and training;
- the integration of Union capital markets and the strengthening of the internal market, including solutions to address the fragmentation of Union capital markets, diversify sources of financing for Union enterprises and promote sustainable finance;
- the promotion of economic, social and territorial cohesion; or
- the sustainable and inclusive recovery of the Union economy after the COVID-19 crisis, including by providing capital support for SMEs that were negatively affected by the COVID-19 crisis and were not already in difficulty in State aid terms at the end of 2019.
Budget and amount of the EU guarantee
The InvestEU Fund would mobilise public and private investment through an EU guarantee of EUR 26 152 310 073 (current prices) that would support the investment projects of implementing partners. The guarantee would be provisioned at 40% . An additional amount of the EU guarantee could also be provided in the form of cash or guarantees by the Member States.
It is provided that EUR 11 327 310 073 (current prices) be earmarked for objectives relating to support for sustainable infrastructure, research, innovation and digitalisation, accessibility of finance for SMEs and availability of microfinance and finance for social enterprises.
The actions taken should contribute to achieving a target of 30% of all Multiannual Financial Framework (MFF) expenditure dedicated to the integration of climate objectives and the ambition to have 7.5% of the budget earmarked for biodiversity expenditure in 2024 and 10% in 2026 and 2027.
Policy windows
The InvestEU Fund would operate through four policy windows, each aimed at addressing market failures or sub-optimal investment situations in their specific scope, namely:
(1) sustainable infrastructure (up to EUR 9 887 682 891);
(2) research, innovation and digitisation (up to EUR 6 575 653 460);
(3) SMEs (up to EUR 6 906 732 440);
(4) social investment and skills (up to EUR 2 782 241 282).
Just Transition Mechanism
A Just Transition Facility would be implemented horizontally across all policy strands. This would include investments to address social, economic or environmental challenges arising from the transition process towards the EU's 2030 climate target and its 2050 climate neutrality objective.
Strategic investments
All policy windows may include strategic investments including important projects of common European interest to support final recipients whose activities are of strategic importance to the Union, in particular in view of the green and digital transitions, of enhanced resilience and of strengthening strategic value chains.
In the case of strategic investments in defence and space sectors and in cybersecurity, as well as in specific types of projects with actual and direct security implications in critical sectors, the investment guidelines) should set out limitations with respect to final recipients controlled by a third country or third country entities and final recipients having their executive management outside the EU.
Investor advice and information services
The regulation would also establish:
- an ‘Invest EU Advisory Hub’ to support the development of investible projects, facilitate access to finance and assist in related capacity building;
- an ‘InvestEU Portal’, a database that would give visibility to projects for which promoters are seeking funding and provide investors with information on investment opportunities.
The financial envelope for the implementation of these measures would be set at EUR 430 000 000 (current prices).
The European Parliament adopted by 615 votes to 34, with 39 abstentions, amendments to the proposal for a regulation of the European Parliament and of the Council establishing the InvestEU Programme.
The matter was referred back to the committee responsible for inter-institutional negotiations.
The proposed regulation aims at establishing the InvestEU Fund, which would provide an EU guarantee in support of financing and investment operations carried out by implementing partners that contribute to the EUs internal policy objectives, including EU priorities such as the European Green Deal and digital transition, increased resilience and sustainable and inclusive recovery of the EU economy after the crisis caused by the COVID-19 pandemic.
The main amendments adopted in plenary concern the following points:
Budget and amount of the EU guarantee
The InvestEU Fund would mobilise public and private investment through an EU budget guarantee of EUR 91 773 320 000 (current prices) which would support the investment projects of implementing partners. Parliament has proposed that 40% of the guarantee should be provisioned.
It is planned to allocate:
- EUR 31 153 850 000 (current prices) to financing and investment operations in ‘strategic sectors’, to maintain and consolidate the EU’s strategic autonomy and the inclusiveness and convergence of its economy, as well as to strengthen resilience to economic shocks;
- EUR 19 850 000 000 (current prices) to operations related to ‘sustainable infrastructure’ and ‘solvency support for companies’ established in a Member State and operating in the EU and which face significant solvency risks as a result of the COVID-19 crisis;
- EUR 40 769 470 000 (current prices) for objectives related to support for sustainable infrastructure, research, innovation and digitisation, accessibility of finance for SMEs and availability of microfinance and finance for social enterprises.
If certain grants have not been fully utilised by 31 December 2023 or if certain loans to Member States have not been granted by 31 December 2023, part of the unused amount or unallocated room for manoeuvre, up to a maximum of EUR 16 billion (current prices), would automatically be made available to the InvestEU Fund to provision the Union guarantee for the period 2024-2027.
Where certain the grants have not been used in their entirety by 31 December 2023, or where the loans to Member States have not been granted by 31 December 2023, part of the unused amount or the unallocated headroom, up to a maximum amount of EUR 16 billion (in current prices), shall be made available automatically to the InvestEU Fund, for the provisioning of the EU
guarantee for the period 2024-2027.
Policy windows
The InvestEU Fund would operate through 6 policy windows, corresponding to the main priorities for EU action, namely:
1) sustainable infrastructure (up to EUR 20 051 970 000);
2) research, innovation and digitisation (up to EUR 11 250 000 000);
3) SMEs (up to EUR 12 500 000 000);
4) social investment and skills (up to EUR 5 567 500 000);
5) European strategic investments (up to EUR 31 153 850 000);
6) solvency support for companies (up to EUR 11 250 000 000).
Strategic European investments
This new window would support final beneficiaries established in a Member State and carrying out an activity of strategic importance to the EU, in particular with a view to ecological and digital transitions and increased resilience in areas such as:
- provision of critical health care, manufacturing and stockpiling of medicines, including vaccines, medical devices and medical supplies, strengthening the capacity to respond to health crises;
- critical infrastructure (e.g. energy, transport, environment, health, 5G, Internet of Things);
- key enabling, transformative, green and digital key technologies (e.g. artificial intelligence, block chains, renewable energy technologies, biomedicine);
- tourism;
- strategic investments in renewable energy and energy efficiency projects, including building renovation.
Advisory and information services to investors
The regulation would also create:
- an ‘Invest EU hub’ to support the development of investment-ready projects, facilitate access to finance and assist in related capacity building;
- an ‘InvestEU portal’, a database that would give visibility to projects for which promoters are seeking funding, and provide investors with information on investment opportunities.
The financial envelope allocated to the implementation of these measures has been set at EUR 824 733 000 (current prices).
PURPOSE: to create the InvestEU Programme as a single investment support mechanism for Union policies for the period 2021-2027.
PROPOSED ACT: Regulation of the European Parliament and of the Council.
ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure on an equal footing with the Council.
BACKGROUND: while investment conditions in Europe have improved since the launch of the Juncker plan in 2014, thanks to a more favourable economic situation and government interventions such as the European Strategic Investment Fund (EFSI), there is still a significant investment gap in Europe.
The COVID-19 pandemic is a major shock to the world and EU economies. The contraction of EU GDP in 2020 - forecast at around 7.5% - is expected to be much deeper than during the 2009 financial crisis.
For the Multiannual Financial Framework (MFF) 2021-2027, the Commission therefore considers it necessary to propose a reinforced EU investment programme to provide crucial support to businesses and to ensure a strong focus of private investors on the Union's medium and long-term priorities, including the Green Deal for Europe and digital transitions, as well as increased resilience.
This is why the Commission is withdrawing its May 2018 proposal for the InvestEU programme and submitting a new proposal that takes full account of the partial agreement reached in April 2019 between the Parliament and the Council.
This new proposal (i) increases the amount of the initially proposed financial envelope (ii) amends the scope of the proposal to reflect on the post-pandemic needs of the European economy. It builds on the lessons learned from the EFSI evaluations and previous financial instruments (Connecting Europe Facility, Horizon 2020, COSME, Competitiveness and Innovation Framework Programme etc.).
CONTENT: the Commission proposes to create the InvestEU programme for the multi-annual financial framework 2021-2027 in order to bring together under a single structure all financing from the EU budget in the form of loans and guarantees.
The InvestEU programme shall be based on the following elements:
The InvestEU Fund
The InvestEU Fund shall mobilise public and private investment through a EU budget guarantee of EUR 75 153 850 000 (in current prices) which aims to support the investment projects of implementing partners. The Commission proposes that the guarantee be provisioned at 45%, which means that EUR 33 800 000 000 from the EU budget shall be set aside in case calls are made on the guarantee.
The European Investment Bank (EIB) Group shall remain a privileged implementing partner for the Invest EU. It shall implement 75% of the EU guarantee. National development banks or institutions may also become implementing partners.
Five policy windows
The InvestEU Fund shall operate through 5 policy windows, each of which is aimed at addressing market failures or investment shortfalls within their specific scope:
1. sustainable infrastructure;
2. research, innovation and digitisation;
3. SMEs;
4. social investment and skills;
5. strategic European investments.
In addition to increasing the resources of the sustainable infrastructure window, the Commission proposes to broaden the scope of the programme by adding a fifth strand - strategic European investment - with a view to meeting the future needs of the European economy and promoting and ensuring the strategic autonomy of the Union in key sectors. This window shall be endowed with an amount of up to EUR 31 153 850 000.
This new window shall support final recipients established in a Member State and carrying out an activity of strategic importance to the Union, in particular with a view to green and digital transitions and increased resilience in areas such as:
- provision of critical health care, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening the capacity to respond to health crises;
- critical infrastructure (e.g. energy, transport, environment, health, 5G, Internet of Things);
- key enabling, transformative, green and digital technologies (e.g. artificial intelligence, block chains, renewable energy technologies, biomedicine).
The InvestEU Advisory Hub
The advisory hub would provide technical support and assistance in the preparation, development, structuring and implementation of projects, including capacity-building. The EIB Group would play a central role in the implementation of advisory support under the Hub. A financial envelope of EUR 724 733 000 (in current prices) is foreseen for the InvestEU Advisory Hub.
The InvestEU Portal
The InvestEU Portal shall be established to provide for an easily accessible and user-friendly project database to promote visibility of investment projects searching for financing with enhanced focus on the provision of a possible pipeline of investment projects, compatible with Union law and policies.
Governance
An investment committee of independent experts shall remain responsible for approving individual requests. The Commission performs a policy check on proposed financing or investment operations to verify that they are compliant with EU law before a proposal is submitted to the Investment Committee.
Budgetary implications
For the period 2021-2027, the budgetary framework (commitments at current prices) foreseen for the InvestEU programme amounts to EUR 33 524 733 000. The overall provisioning will amount to EUR 33 800 million, of which EUR 1 billion will be covered by revenues, repayments and recoveries generated by existing financial instruments and the EFSI.
Documents
- Commission response to text adopted in plenary: SP(2021)234
- Final act published in Official Journal: Regulation 2021/523
- Final act published in Official Journal: OJ L 107 26.03.2021, p. 0030
- Draft final act: 00074/2020/LEX
- Results of vote in Parliament: Results of vote in Parliament
- Debate in Parliament: Debate in Parliament
- Decision by Parliament, 1st reading: T9-0068/2021
- Approval in committee of the text agreed at 1st reading interinstitutional negotiations: PE663.116
- Approval in committee of the text agreed at 1st reading interinstitutional negotiations: PE663.119
- Decision by Parliament, 1st reading: T9-0306/2020
- Committee report tabled for plenary, 1st reading/single reading: A9-0203/2020
- Committee report tabled for plenary, 1st reading: A9-0203/2020
- Committee opinion: PE653.989
- Committee opinion: PE658.817
- Committee opinion: PE655.653
- Committee opinion: PE655.872
- Committee draft report: PE655.923
- Committee opinion: PE655.942
- Contribution: COM(2020)0403
- Economic and Social Committee: opinion, report: CES2866/2020
- Legislative proposal: COM(2020)0403
- Legislative proposal: EUR-Lex
- Legislative proposal: COM(2020)0403 EUR-Lex
- Economic and Social Committee: opinion, report: CES2866/2020
- Committee opinion: PE655.942
- Committee draft report: PE655.923
- Committee opinion: PE655.872
- Committee opinion: PE655.653
- Committee opinion: PE658.817
- Committee opinion: PE653.989
- Committee report tabled for plenary, 1st reading/single reading: A9-0203/2020
- Draft final act: 00074/2020/LEX
- Commission response to text adopted in plenary: SP(2021)234
- Contribution: COM(2020)0403
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Amendments | Dossier |
1157 |
2020/0108(COD)
2020/09/03
ITRE
229 amendments...
Amendment 100 #
Proposal for a regulation Recital 35 (35) The Commission should seek the views of other potential implementing partners along with the EIB Group on investment guidelines,
Amendment 101 #
Proposal for a regulation Recital 40 (40) The EU guarantee underpinning the InvestEU Fund should be implemented indirectly by the Commission relying on implementing partners with outreach to financial intermediaries, where applicable, and final recipients. The selection of the implementing partners should be transparent and free from any conflict of interest. The Commission should conclude a guarantee agreement allocating guarantee capacity from the InvestEU Fund with each implementing partner to support its financing and investment operations that meet the InvestEU Fund eligibility criteria and contribute to meeting its objectives. The management of the risk related to the EU guarantee should not hamper direct access to the EU guarantee by the implementing partners. Once the EU guarantee is granted under the EU compartment to implementing partners, they should be fully responsible for the whole investment process and the due diligence related to the financing or investment operations. The InvestEU Fund
Amendment 102 #
Proposal for a regulation Recital 47 (47) The Investment Committee should become responsible as of its constitution also for granting the benefit of the EU guarantee for financing and investment operations under Regulation (EU) 2015/1017 in order to avoid parallel similar structures assessing proposals for the use of the EU guarantee and consult experts from climate, environmental and civil society organisations.
Amendment 103 #
Proposal for a regulation Recital 49 (49) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterparty's ability to fulfil the objectives of the InvestEU Fund and to contribute its own resources, in order to ensure adequate geographical coverage and diversification, to crowd in private investors and to provide sufficient risk diversification and solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments
Amendment 104 #
Proposal for a regulation Recital 55 (55) The InvestEU Advisory Hub should support the development of a robust pipeline of investment projects in each policy window through advisory initiatives that are implemented by the EIB Group or other advisory partners, or are implemented directly by the Commission. The InvestEU Advisory Hub should promote geographic diversification with a view to contributing to the Union objectives of economic, social, and territorial cohesion and reducing regional disparities, including the possibility of prioritizing the allocation of its technical support and assistance to underdeveloped regions. The InvestEU Advisory Hub should pay particular attention to the aggregation of small-sized projects into larger portfolios. The Commission, the EIB Group and the other advisory partners should cooperate closely with a view to ensuring efficiency, synergies and effective geographic coverage of support across the Union, taking into account the expertise and local capacity of local implementing partners, as well as the European Investment Advisory Hub established under Regulation (EU) 2015/1017 of the European Parliament and of the Council34 . In addition, the InvestEU Advisory Hub should provide a central entry point for project development assistance delivered under the InvestEU Advisory Hub to public authorities and for project promoters. _________________ 34Regulation (EU) 2015/1017 of the European Parliament and of the Council of 25 June 2015 on the European Fund for
Amendment 105 #
Proposal for a regulation Recital 59 (59) In the context of the InvestEU Fund,
Amendment 106 #
Proposal for a regulation Recital 59 (59) In the context of the InvestEU Fund, there is a need to provide support for project development and capacity building to develop the organisational capacities and market development activities needed to originate quality projects. Such support should also target financial intermediaries that are key to help small companies’ a
Amendment 107 #
Proposal for a regulation Recital 59 (59) In the context of the InvestEU Fund, there is a need to provide support for project development and capacity building to develop the organisational capacities and market development activities needed to originate quality projects. Such support should also target financial intermediaries that are key to help small companies’ access financing and realise their full potential, and it should include technical assistance, in particular for the Member States with weak financial ecosystems. Moreover, the aim of the advisory support is to create the conditions for the expansion of the potential number of eligible recipients in nascent market segments, in particular where the small size of individual projects considerably raises the transaction cost at the project level, such as for the social finance ecosystem, including philanthropic organisations, or for the cultural and creative sectors. The capacity- building support should be complementary and in addition to actions taken under other Union programmes that cover specific policy areas. An effort should also be made to support the capacity building of potential project promoters, in particular local organisations and authorities.
Amendment 108 #
Proposal for a regulation Recital 59 (59) In the context of the InvestEU Fund, there is a need to provide support for project development and capacity building to develop the organisational capacities and market development activities needed to originate quality projects. Such support should also target financial intermediaries that are key to help small and medium companies’ access financing and realise their full potential. Moreover, the aim of the advisory support is to create the conditions for the expansion of the potential number of eligible recipients in nascent market segments, in particular where the small size of individual projects considerably raises the transaction cost at the project level, such as for the social finance ecosystem, including philanthropic organisations, or for the cultural and creative sectors. The capacity-building support should be complementary and in addition to actions taken under other Union programmes that cover specific policy areas. An effort should also be made to support the capacity building of potential project promoters, in particular local organisations and authorities.
Amendment 109 #
Proposal for a regulation Recital 59 (59) In the context of the InvestEU Fund, there is a need to provide support for project development and capacity building to develop the organisational capacities and market development activities needed to originate quality projects. Such support should also target financial intermediaries that are key to help small companies’ access financing and realise their full potential. Moreover, the aim of the advisory support is to create the conditions for the expansion of the potential number of eligible recipients in nascent market segments, in particular where the small size of individual projects considerably raises the transaction cost at the project level, such as for the social finance ecosystem,
Amendment 110 #
Proposal for a regulation Recital 59 a (new) (59a) Moreover, any attempt to mobilise national public funding to project initiation is considered as instrumental and a positive incentive for the further aggregation of capital - especially in infrastructure and cross border projects. To incentivise further contributions from Member States in infrastructure and cross-border projects, it could be strategically important to allow the exclusion of the amounts invested by the Member States to InvestEU projects, from their reporting in the Stability and Growth Pact calculations - in a spirit similar to the fiscal adjustments already made since the outbreak of the pandemic.
Amendment 111 #
Proposal for a regulation Recital 61 (61) In accordance with Regulation [European Union Recovery Instrument] and within the limits of resources allocated therein, recovery and resilience measures under the InvestEU should be carried out to address the unprecedented impact of the Covid-19 crisis and provide European citizen with long-term environmental and societal benefits such as high quality long-term jobs and public infrastructure, including through supporting companies' sustainable and digital transitions. Such additional resources should be used in such a way as to ensure compliance with the time limits provided for in Regulation [EURI].
Amendment 112 #
(61) In accordance with Regulation [European Union Recovery Instrument] and within the limits of resources allocated therein, recovery and resilience measures under the InvestEU should be carried out to address the unprecedented impact of the Covid-19 crisis and in line with the objectives of the strategic European Investment Window, support long-term growth, quality jobs and global competitiveness. Such additional resources should be used in such a way as to ensure compliance with the time limits provided for in Regulation [EURI].
Amendment 113 #
Proposal for a regulation Article 2 – paragraph 1 – point 15 (15) ‘Important Project of Common European Interest’ means a project that fulfils all the criteria laid down in Commission Communication on Criteria for the analysis of the compatibility with the internal market of State aid to promote the execution of important projects of common European interest (OJ C 188, 20.6.2014, p. 4) or any subsequent revision
Amendment 114 #
Proposal for a regulation Article 2 – paragraph 1 – point 15 a (new) (15a) The ‘do no significant harm’ principle means refraining from inflicting ‘significant harm to environmental objectives’ as defined in Article 17 of the Regulation (EU) 2020/8521a; _________________ 1aRegulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (OJ L 198, 22.6.2020, p. 13).
Amendment 115 #
Proposal for a regulation Article 3 – paragraph 1 – introductory part Amendment 116 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) growth and employment in the Union economy, the sustainability of the Union economy and
Amendment 117 #
Proposal for a regulation Article 3 – paragraph 1 – point c (c) the Union's sovereignty and strategic autonomy, the social resilience, inclusiveness and innovativeness of the Union;
Amendment 118 #
Proposal for a regulation Article 3 – paragraph 1 – point d (d) the promotion of scientific and technological advances, of culture, education
Amendment 119 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable and inclusive recovery of the Union economy after the crisis caused by the Covid-19 pandemic
Amendment 120 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable and inclusive recovery of the Union economy after the crisis caused by the Covid-19 pandemic, upholding and strengthening its strategic value chains and maintaining and reinforcing activities of strategic importance to the Union in relation to critical infrastructure, including cybersecurity technology and research and risk prevention with reference to the deployment of 5G networks, transformative technologies, game- changing innovations and inputs to businesses and consumers.
Amendment 121 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable and inclusive recovery of the Union economy after the crisis caused by the Covid-19 pandemic, upholding and strengthening its strategic value chains and maintaining and reinforcing activities of strategic importance to the Union in relation to critical infrastructure,
Amendment 122 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable and inclusive recovery of the Union economy, and in particular of the SMEs, after the crisis caused by the Covid-19 pandemic,
Amendment 123 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable, proportional and inclusive recovery of the Union economy after the crisis caused by the Covid-19 pandemic, upholding and strengthening its strategic value chains and maintaining and reinforcing activities of strategic importance to the Union in relation to critical infrastructure, transformative technologies, game-changing innovations and inputs to businesses and consumers.
Amendment 124 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) increasing the access to and the availability of finance for SMEs and for
Amendment 125 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) increasing the access to and the availability of finance for start-ups, SMEs and for small mid-cap companies and to enhance the global competitiveness of such
Amendment 126 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) increasing the access to and the availability of finance for SMEs and
Amendment 127 #
Proposal for a regulation Article 3 – paragraph 2 – point e (e) to support financing and investment operations in sectors referred to in point (e) of Article 7(1) in order to maintain and reinforce the strategic autonomy and sustainability of the Union and of its economy consistent with the energy and climate legislation and the 2030 and 2050 energy and climate targets, the European Pillar of Social Rights, the objectives of green and digital transitions, technological autonomy, sustainable and inclusive growth, economic, social and territorial cohesion, quality job creation as well as research and innovation.
Amendment 128 #
Proposal for a regulation Article 3 – paragraph 2 – point e (e) to support financing and investment operations, including private equity and venture capital funding, in sectors referred to in point (e) of Article 7(1) in order to maintain and reinforce the strategic autonomy and global competitiveness of the Union and of its economy.
Amendment 129 #
Proposal for a regulation Article 3 – paragraph 2 – point e (e) to support financing and investment operations in sectors referred to in point (e) of Article 7(1) in order to maintain and reinforce the
Amendment 130 #
Proposal for a regulation Article 3 – paragraph 2 – point e a (new) (ea) to increase the access to and the availability of finance for companies and SMEs that contribute to climate and energy targets or that comply with Taxonomy and endorse the climate neutrality objective by 2050.
Amendment 131 #
Proposal for a regulation Article 3 – paragraph 2 – point e b (new) Amendment 132 #
Proposal for a regulation Article 3 – paragraph 2 – point e c (new) (ec) companies registered in countries included on the Union list of non- cooperative jurisdictions for tax purposes shall not be eligible for financial support.
Amendment 133 #
Proposal for a regulation Article 4 – paragraph 1 – introductory part 1. The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR 75 153 8
Amendment 134 #
Proposal for a regulation Article 4 – paragraph 2 – subparagraph 1 An amount of EUR 31 153 850 000 (current prices) of the amount referred to in the first subparagraph of paragraph 1 shall be allocated for operations implementing measures referred to in Article 2 of Regulation [EURI] for the objectives referred to in point (e) of Article 3(2). That amount should prioritize initiatives contributing to saving lives in the short, mid- and long term, and dedicate a share of at least 25% to energy efficiency and renewable energy projects to trigger a EU Renovation Wave, a Solar Rooftop initiative and to support the offshore renewable energy strategy, as well as ensure adequate support to the challenges of climate emergency and digitalization.
Amendment 135 #
Proposal for a regulation Article 4 – paragraph 2 – subparagraph 1 An amount of EUR 31 153 850 000 (current prices) of the amount referred to in the first subparagraph of paragraph 1 shall be allocated for operations implementing measures referred to in Article 2 of Regulation [EURI] for the objectives referred to in point (e) of Article 3(2). This amount should be distributed among initiatives underpinning the resilience, security and competitiveness of the Union economy, whilst ensuring adequate support to the climate and digital transitions.
Amendment 136 #
Proposal for a regulation Article 4 – paragraph 2 – subparagraph 1 An amount of EUR 31 153 850 000 (current prices) of the amount referred to in the first subparagraph of paragraph 1 shall be allocated for operations implementing measures referred to in Article 2 of Regulation [EURI] for the objectives referred to in point (e) of Article 3(2) and in the spirit that the Union's economy is resilient if it is both digitally transformed, technologically innovative and environmentally responsible.
Amendment 137 #
Proposal for a regulation Article 4 – paragraph 2 – subparagraph 2 An amount of EUR 41 500 000 000 (current prices) of the amount referred to in the first subparagraph of paragraph 1 shall be allocated for operations implementing measures referred to in Article 2 of Regulation [EURI] for the objectives referred to in points (a)-(d) of Article 3(2), while dedicating a share of at least 25% to energy efficiency and renewable energy projects.
Amendment 138 #
Proposal for a regulation Article 4 – paragraph 2 – subparagraph 2 An amount of EUR 41 500 0
Amendment 139 #
Proposal for a regulation Article 4 – paragraph 2 – subparagraph 5 The indicative distribution of the EU guarantee for the purpose of the EU compartment is set out in Annex I to this Regulation, while dedicating a share of at least 25% to energy efficiency and renewable energy projects per policy window. Where appropriate, the Commission may modify the amounts referred to in Annex I
Amendment 140 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) a sustainable infrastructure policy window which comprises sustainable investment in the areas of transport, including multimodal transport, road safety, including in accordance with the Union objective of eliminating fatal road accidents and serious injuries by 2050, the renewal and maintenance of rail and road infrastructure, energy,
Amendment 141 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) a sustainable infrastructure policy window which comprises sustainable investment in the areas of transport, including multimodal transport, road safety, including in accordance with the Union objective of eliminating fatal road accidents and serious injuries by 2050, the renewal and maintenance of rail and road infrastructure, energy, in particular renewable energy, energy efficiency in accordance with the 2030 energy framework, buildings renovation projects focused on energy savings and the integration of buildings into a connected energy, storage, digital and transport systems, improving interconnection levels, digital connectivity and access
Amendment 142 #
(c) an SME policy window which comprises access to and the availability of finance primarily for SMEs, including for innovative SMEs and SMEs operating in the cultural
Amendment 143 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) an SME policy window which comprises access to and the availability of finance primarily for SMEs, including for innovative SMEs and SMEs operating in the cultural and creative sectors
Amendment 144 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) a social investment and skills policy window, which comprises microfinance, social enterprise finance, social economy and measures to promote gender equality, skills, education, training and related services, social infrastructure, including health and educational infrastructure and
Amendment 145 #
Proposal for a regulation Article 7 – paragraph 1 – point e – introductory part (e) a strategic European investment policy window which comprises strategic investment to support final recipients that are established in a Member State and that operate in the Union, and whose activities are of strategic importance to the Union, in
Amendment 146 #
Proposal for a regulation Article 7 – paragraph 1 – point e – introductory part (e)
Amendment 147 #
Proposal for a regulation Article 7 – paragraph 1 – point e – introductory part (e) a strategic European investment policy window which comprises strategic investment to support final recipients, including SMEs, that are established in a Member State and that operate in the Union, and whose activities are of strategic importance to the Union, in particular in view of the green and digital
Amendment 148 #
Proposal for a regulation Article 7 – paragraph 1 – point e – introductory part (e) a strategic European investment policy window which comprises strategic investment to support final recipients that are established in a Member State and that operate in the Union, and whose activities are of strategic importance to the Union, in particular in view of the
Amendment 149 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point i i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals
Amendment 150 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether physical or virtual, including infrastructure elements identified as critical in the fields of energy, transport, environment, health, secure digital communication, 5G and very high-speed electronic communication networks, internet of things, online service platforms, secure cloud computing, data processing or storage, payments and financial infrastructure, aerospace, defence, communications, media, education and training, electoral infrastructure and sensitive facilities, as well as land and real estate crucial for the use of such critical infrastructure;
Amendment 151 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether
Amendment 152 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether physical or virtual, including infrastructure elements identified as critical in the fields of energy, public transport and active mobility, environment, water, health, secure digital communication
Amendment 153 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether physical
Amendment 154 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii a (new) iia) critical early detection and coordinated institutional and economic response capabilities to react in case of crisis risks, as well as on advancing business and service continuity solutions for essential public and private institutions and sector;
Amendment 155 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii a (new) iia) investment in New Space activities, both upstream and downstream, in order to bring the most promising technologies and applications to the market, thus ensuring the competitiveness of the Union space industry.
Amendment 156 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii a (new) iia) investment and technical assistance to companies, in particular SMEs, and communities, to increase the resilience of their value chains and business models;
Amendment 157 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii b (new) Amendment 158 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii b (new) iib) strategic investment in renewable energy projects with a high potential to significantly contribute to meeting the targets set out in Directive (EU) 2018/2001 and its subsequent revision, given that all Union regions have significant potential of abundant renewable resources identified;
Amendment 159 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii c (new) iic) supporting the conditions for boosting entrepreneurship, financing private sector development including start-ups and SMEs, and the expansion of networks of clusters and digital innovation hubs, privatisation processes, adaptation to technological development and sustainable sectoral development;
Amendment 160 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii d (new) iid) investment and technical assistance for fostering entrepreneurial skills, for the creation of new start-ups, SMEs and family businesses, that will diversify and expand the entrepreneurial market; investment and technical assistance for the development of networks of clusters and digital innovation hubs across the continent;
Amendment 161 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iii iii) the provision of
Amendment 162 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iii a (new) iiia) investment in New Space activities, both upstream and downstream, in order to bring the most promising technologies and applications to the market, thus ensuring the competitiveness of the European Space industry;
Amendment 163 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – introductory part iv) the promotion of an innovative and sustainable re-industrialisation of Europe, following the priorities described in the New Industrial Strategy for a green and digital Europe and the development model based on industrial ecosystems through key enabling, transformative, green and digital technologies and game- changing innovations where the investment is strategically important for the Union’s industrial future, keeping in mind the principle of just transition, including
Amendment 164 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – introductory part iv) key enabling, transformative, green and digital technologies and needed game- changing innovations where the investment is strategically important for the Union’s
Amendment 165 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – introductory part iv) key enabling, transformative, green
Amendment 166 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – introductory part iv) key enabling, transformative,
Amendment 167 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point a (a) ethical artificial intelligence,
Amendment 168 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies, clean hydrogen and fuel cell applications, decarbonisation technologies for industry, carbon capture and storage, circular economy technologies, and, where necessary to achieve Union climate transition objectives, nuclear energy technologies,
Amendment 169 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) renewable and low-carbon energy technologies, energy storage technologies including batteries, sustainable transport technologies, clean hydrogen and fuel cell applications, decarbonisation technologies for industry, carbon capture and storage, circular economy technologies and supply chains,
Amendment 170 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies,
Amendment 171 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies,
Amendment 172 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) renewable energy technologies, energy storage technologies including sustainable batteries, sustainable transport technologies,
Amendment 173 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b a (new) (ba) space systems and technologies including critical space components, as well as space-based services and applications;
Amendment 174 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b b (new) (bb) technologies that contribute to minimising and ultimately phasing out the use of, and therefore the Union dependency on, fossil fuels in a timeframe consistent with the objectives set out in [Climate Law], while taking into account the bridging role of natural gas in the transition to a carbon neutral economy;
Amendment 175 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point c a (new) (ca) space systems and technologies including critical space components, as well as space-based services and applications;
Amendment 176 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point v v) recycling and manufacturing facilities for mass production of Information Communication and Technology components and devices in the EU
Amendment 177 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vi vi) supply and stockpiling of critical inputs to public actors, businesses or consumers in the EU, including energy or raw materials or food security, support of industry’s transition from non-renewable and fossil-based materials to renewable and environmentally-friendly raw materials, support of transition of industrial processes towards low emission and emission-free forms of production, having regard to resource efficiency and circularity in strategic value chains and strategic eco-systems;
Amendment 178 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vi vi) supply and stockpiling of critical inputs to public actors, businesses or
Amendment 179 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – subparagraph 1 vii) critical technologies and inputs for the security of the Union and its Member States, such as
Amendment 180 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – subparagraph 1 vii) critical technologies
Amendment 181 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – subparagraph 1a The financing and investment under this window should be distributed among initiatives underpinning the resilience, security and competitiveness of the Union economy, while ensuring adequate support to the climate and digital transitions.
Amendment 182 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – subparagraph 2 In addition, in the case of investments in space, defence and cybersecurity, and in specific types of projects with actual and direct security implications in critical sectors, the final recipients shall not be controlled by a third country or third country entities and shall have their executive management in the Union with a view to protect the security of the Union and its Member States. Moreover, final recipients should not export defence- related technology to third countries that threaten the territorial integrity of the Member States or systematically violate the rule of International Law or inhibit the regional or global security and stability.
Amendment 183 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – subparagraph 2 In addition,
Amendment 184 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – subparagraph 2 In addition, in the case of investments in space,
Amendment 185 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii a (new) viia) the financing and investment under this window shall prioritize initiatives contributing to saving lives in the short, mid- and long term, and dedicate a share of at least 25% to energy efficiency and renewable energy projects, as well as ensure adequate support to the challenges of climate emergency and digitalisation.
Amendment 186 #
Proposal for a regulation Article 7 – paragraph 3 Amendment 187 #
Proposal for a regulation Article 7 – paragraph 4 – introductory part 4. The Commission shall develop sustainability guidance that, in accordance with Union
Amendment 188 #
Proposal for a regulation Article 7 – paragraph 4 – point a Amendment 189 #
Proposal for a regulation Article 7 – paragraph 4 – point c (c) estimate the social impact of projects, including on gender equality, on the social inclusion of certain areas or populations and on the economic development of areas and sectors affected by structural challenges such as the need to decarbonise the economy; the Commission may approve investments related to the production, processing, distribution, storage, transmission or use of natural gas provided that it is used as a bridging technology and under the following duly justified circumstances: (a) the investments are retrofitting and/or replacing existing more carbon-intensive infrastructure; (b) the supported infrastructure is synergistic with renewable and other carbon-neutral energy production capacity.
Amendment 190 #
Proposal for a regulation Article 7 – paragraph 4 – point c (c) estimate the social impact of projects, including on gender equality, on the social inclusion of certain areas or populations and on the economic development of areas and sectors affected by structural challenges
Amendment 191 #
Proposal for a regulation Article 7 – paragraph 4 – point d Amendment 192 #
Proposal for a regulation Article 7 – paragraph 5 Amendment 193 #
Proposal for a regulation Article 7 – paragraph 6 – subparagraph 1 Implementing partners shall apply a target of at least
Amendment 194 #
Proposal for a regulation Article 7 – paragraph 6 – subparagraph 1 Implementing partners shall apply a target of at least
Amendment 195 #
Proposal for a regulation Article 7 – paragraph 6 – subparagraph 1 Implementing partners shall apply a target of at least
Amendment 196 #
Proposal for a regulation Article 7 – paragraph 6 a (new) 6a. The contribution of the InvestEU Fund to the achievement of the Union objectives on climate and environment will be tracked using the criteria laid down in the Regulation (EU) 2020/8521a. _________________ 1aRegulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (OJ L 198, 22.6.2020, p. 13).
Amendment 197 #
Proposal for a regulation Article 7 – paragraph 8 8. For financing and investment operations under the strategic European investment window in defence and space sectors and in cybersecurity, the investment guidelines may set out limitations with respect to transfer and licensing of intellectual property rights to critical technologies and technologies instrumental to safeguarding the security of the Union and its Member States, especially when the final recipients commercialize defence-, space- and cybersecurity-related products with third countries that threaten the territorial integrity of Member States, violate the international law and systematically distort regional security and peace.
Amendment 198 #
Proposal for a regulation Article 7 – paragraph 8 Amendment 199 #
Proposal for a regulation Article 10 – paragraph 3 – point a – point ii (ii) separate guarantee agreements between the Commission and the EIB and
Amendment 200 #
Proposal for a regulation Article 12 – paragraph 6 6. Best efforts shall be made to ensure that, at the end of the investment period, a wide range of sectors and regions are covered and
Amendment 201 #
Proposal for a regulation Article 18 – paragraph 2 – point a – point i (i) the principal and all interest and amounts due to the implementing partner but not received by it in accordance with the terms of the financing operations
Amendment 202 #
Proposal for a regulation Article 23 – paragraph 8 8. From the date of its constitution, the Investment Committee shall also be in charge of approving the use of the EU guarantee under Regulation (EU) 2015/1017 for the remainder of the investment period under that Regulation. They shall be assessed in accordance with the criteria laid down in that Regulation. The configurations of the Investment Committee responsible for the sustainable infrastructure window and the strategic European investment window shall assess those proposals. A
Amendment 203 #
Proposal for a regulation Article 24 – paragraph 1 a (new) 1a. The InvestEU Advisory Hub shall promote and provide technical assistance to eligible companies as well as procedures for simplification of excessive administrative burdens.
Amendment 204 #
Proposal for a regulation Article 24 – paragraph 2 – point c (c) where appropriate, assist project promoters in developing their projects so that they fulfil the objectives set out in Articles 3 and 7 and the eligibility criteria set out in Article 13, and facilitate the development of Important Projects of Common European Interest in compliance with the Union’s climate and environmental goals, with specific consideration of the Regulation (EU) 2020/8521a, and increased transparency in their implementation and aggregators for small-sized projects,
Amendment 205 #
Proposal for a regulation Article 24 – paragraph 2 – point c (c) where appropriate, provide technical assistance when requested by the initiators of the projects, and assist project promoters in developing their projects as well as in the creation of investment platforms so that they fulfil the objectives set out in Articles 3 and 7 and the eligibility criteria set out in Article 13, and facilitate the development of Important Projects of Common European Interest and aggregators for small-sized projects, including through investment platforms as referred to in point (f) of this paragraph, provided that such assistance does not prejudge the conclusions of the Investment Committee with respect to the coverage of the EU guarantee with respect to such projects;
Amendment 206 #
Proposal for a regulation Article 24 – paragraph 2 – point c (c) where appropriate, assist project promoters in developing their projects so that they fulfil the objectives set out in Articles 3 and 7 and the eligibility criteria set out in Article 13, and facilitate the development of Important Projects of Common European Interest and a just transition towards a low-carbon economy for most affected regions and aggregators for small-sized projects, including through investment platforms as referred to in point (f) of this paragraph, provided that such assistance does not prejudge the conclusions of the Investment Committee with respect to the coverage of the EU guarantee with respect to such projects;
Amendment 207 #
Proposal for a regulation Article 31 – paragraph 1 – subparagraph 1 Implementing partners and advisory partners shall acknowledge the origin and
Amendment 208 #
Proposal for a regulation Article 31 – paragraph 1 – subparagraph 2 The application of the requirements under the first subparagraph to projects in the defence and space sectors shall be subject to respect for any confidentiality or secrecy obligations. Potential beneficiaries, beneficiaries, participants, final recipients of financial instruments must be disclosed with full transparency. They need to be listed in a digital monitoring system for Union funds to be introduced by the Commission.
Amendment 209 #
Proposal for a regulation Article 31 – paragraph 1 – subparagraph 2 The application of the requirements under the first subparagraph to projects in the defence and space sectors shall be subject to respect for any confidentiality or secrecy obligations, except where there are allegations or evidence that the projects could benefit third countries who threaten the territorial integrity of the Member States, violate the rule of International Law and distort the regional peace and security.
Amendment 210 #
Proposal for a regulation Article 31 – paragraph 1 – subparagraph 2 The application of the requirements under the first subparagraph to projects in the
Amendment 211 #
Proposal for a regulation Annex I – paragraph 1 – introductory part The indicative distribution referred to in the fifth subparagraph of Article 4(2) towards financial and investment
Amendment 212 #
Proposal for a regulation Annex II – paragraph 1 The financing and investment operations under other windows than the strategic European investment window
Amendment 213 #
Proposal for a regulation Annex II – point 1 – point a (a) the expansion of the generation, supply or use of clean and sustainable renewable and safe and sustainable other zero
Amendment 214 #
Proposal for a regulation Annex II – point 1 – point d (d) the development of innovative zero-
Amendment 215 #
Proposal for a regulation Annex II – point 1 – point e (e) the production and supply of sustainable synthetic fuels from renewable
Amendment 216 #
Proposal for a regulation Annex II – point 1 – point f (f) technologies and infrastructure for
Amendment 217 #
Proposal for a regulation Annex II – point 2 – introductory part 2. The development of sustainable and safe transport infrastructures and mobility solutions, equipment and innovative technologies in accordance with Union
Amendment 218 #
Proposal for a regulation Annex II – point 2 – point a (a) projects that support the development of the trans-European transport network (TEN-T) infrastructure,
Amendment 219 #
(c) smart and sustainable urban mobility projects that target
Amendment 220 #
Proposal for a regulation Annex II – point 2 – point d (d) supporting the renewal and retrofitting of transport mobile assets with the view of deploying
Amendment 221 #
Proposal for a regulation Annex II – point 2 – point g – point iii (iii) emission reduction with a clear pathway to zero emissions; or
Amendment 222 #
Proposal for a regulation Annex II – point 3 – point h (h) the decarbonisation of energy- intensive industries and the substantial reduction of emissions in such industries, including the demonstration of innovative
Amendment 223 #
Proposal for a regulation Annex II – point 3 – point i (i) the decarbonisation of the energy production and distribution chain by phasing out the use of coal, gas and oil; and
Amendment 224 #
Proposal for a regulation Annex II – point 6 – point a (a) ethical artificial intelligence;
Amendment 225 #
Proposal for a regulation Annex II – point 6 – point b Amendment 227 #
Proposal for a regulation Annex II – point 10 10. The rehabilitation of industrial sites (including contaminated sites) and the restoration of such sites for sustainable use, excluding rehabilitations and restorations that are part of corporate liabilities.
Amendment 228 #
Proposal for a regulation Annex II – point 12 – point d – point ii (ii) affordable, healthy and energy efficient social housing;3 _________________ 3Affordable social housing is to be understood as aimed at disadvantaged persons or socially less advantaged groups, who due to solvency constraints live in severe housing deprivation or are unable to obtain housing at market conditions.
Amendment 229 #
Proposal for a regulation Annex II – point 13 Amendment 230 #
Proposal for a regulation Annex III – point 4 – point 4.1 4.1 Energy: Additional renewable and other safe and sustainable zero
Amendment 231 #
Proposal for a regulation Annex III – point 6 – point 6.1 6.1 Number of enterprises supported by size (micro, small, medium-sized and small mid-cap companies), including gender disaggregated data
Amendment 232 #
Proposal for a regulation Annex III – point 6 – point 6.2 6.2 Number of enterprises supported by stage (early, growth/expansion), including gender disaggregated data
Amendment 233 #
Proposal for a regulation Annex III – point 8 – point 8.1 8.1 Number and volume of operations contributing to the provision of critical infrastructure, broken down by physical infrastructure and the associated goods and services
Amendment 234 #
8.3 Number and volume of operations contributing to the development of critical technologies and inputs for the security of the Union and its Member States, and civilian components of dual use items
Amendment 235 #
Proposal for a regulation Annex III – point 8 – point 8.4 8.4 Number of enterprises supported by size developing and manufacturing critical technologies and inputs for the security of the Union and its Member States, and civilian components of dual use items
Amendment 236 #
Proposal for a regulation Annex III – point 8 – point 8.4 a (new) 8.4a Number of clusters and Digital Innovation Hubs supported for the creation of synergies between regional, national, European and private businesses and companies;
Amendment 237 #
Proposal for a regulation Annex III – point 8 – point 8.5 8.5 Number and volume of operations contributing to the supply, manufacturing and stockpiling of critical inputs - unless in the limits of existing legal requirements- , including critical healthcare provisions
Amendment 238 #
Proposal for a regulation Annex III – point 8 – point 8.7 8.7 Number and volume of operations supporting key enabling and digital technologies that are strategically important for the Union
Amendment 239 #
Proposal for a regulation Annex III – point 8 – point 8.7 a (new) 8.7a Regional and national breadth that indicates that the benefited Member States and regions are spread evenly across the EU's territory and there is no concentration of benefits to limited Member States or regions;
Amendment 240 #
Proposal for a regulation Annex III – point 8 – point 8.7 a (new) 8.7a Number and volume of operations to help companies and communities, in particular SMEs, to increase the resilience of their value chains and business models
Amendment 241 #
Proposal for a regulation Annex III – point 8 – point 8.7 b (new) 8.7b Number of engagements of the European Investments Advisory Hubs in regions and Member States without significant track record in project initiation and development.
Amendment 242 #
Proposal for a regulation Annex III – point 8 – point 8.7 c (new) 8.7c Number of engagements of the European Investments Advisory Hub in under-invested industrial sectors that traditionally are not benefiting from the Union's investment instruments.
Amendment 243 #
Proposal for a regulation Annex III – point 8 – point 8.7 d (new) 8.7d Number of start-ups, technological entrepreneurial firms and innovation ecosystems that were benefited and developed by this investment instrument.
Amendment 244 #
Proposal for a regulation Annex III – point 8 – point 8.7 e (new) Amendment 245 #
Proposal for a regulation Annex V – part 1 – paragraph 2 – point 1 – paragraph 1 – point f (f) In the case of support to financing and investment operations under the strategic European investment window, the investment would not have been undertaken or would not have been undertaken
Amendment 246 #
Proposal for a regulation Annex V – part 1 – paragraph 2 – point 2 – paragraph 1 – point 3 (3) Financing and investment operations under the strategic European investment window may also be considered additional whenever these operations would not have been carried out
Amendment 247 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 11 (11) The decommissioning
Amendment 248 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – introductory part (12) Investments related to mining or to the extraction, processing, distribution, storage or combustion of
Amendment 249 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – introductory part (12) Investments related to mining or to the extraction, processing, distribution, storage or combustion of solid fossil fuels and oil, as well as investments related to the extraction of gas. Th
Amendment 250 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point a Amendment 251 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point a (a) projects
Amendment 252 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point b Amendment 253 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point b (b) projects
Amendment 254 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point c Amendment 255 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point c (c) projects
Amendment 256 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point c a (new) (ca) projects for which a prior assessment of the use of renewable-only energy sources has been carried out;
Amendment 257 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point c b (new) (cb) projects where there is no viable alternative technology and the activities supported do not hamper the development of renewable energy sources in the concerned territories and are compatible and in synergy with an ulterior use of renewable energy sources;
Amendment 258 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point c c (new) (cc) projects where the activities supported contribute to reducing energy poverty;
Amendment 259 #
Proposal for a regulation Annex V a (new) Amendment 31 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The
Amendment 32 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the
Amendment 33 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around
Amendment 34 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of strategic industries on non-diversified external supply sources. Such vulnerabilities need to be addressed, particularly for small and medium-sized enterprises (SMEs), to improve the Union’s emergency response as well as the resilience of the entire economy, including through the digitalisation and decarbonisation of the economy, while maintaining its openness to competition and trade in line with its rules. Investment activity is expected to have dropped significantly. Even before the pandemic, while a recovery in investment-to-GDP ratios in the Union
Amendment 35 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity
Amendment 36 #
Proposal for a regulation Recital 2 (2) Evaluations have underlined that the variety of financial instruments delivered under the 2014-2020 Multiannual Financial Framework period has led to some overlaps in their scope. That variety has also produced complexity for intermediaries and final recipients who were confronted with different eligibility and reporting rules. The absence of compatible rules also hampered the combination of several Union funds, although such combinations would have been beneficial in order to support projects in need of different types of funding. Therefore, a single fund, the InvestEU Fund, which
Amendment 37 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies and legislations to complete the Single Market and to stimulate
Amendment 38 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to
Amendment 39 #
Proposal for a regulation Recital 4 (4)
Amendment 40 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the
Amendment 41 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence
Amendment 42 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence and cohesion of the Union, including in the fields of innovation and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises. To that end, the InvestEU Fund should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments backed up by a guarantee from the Union budget and by financial contributions from implementing partners as relevant. The InvestEU Fund should be demand-driven, while at the same time it should focus on providing strategic, long-term benefits in relation to key areas of Union policy which otherwise would not be funded or would be insufficiently funded, thereby contributing to meeting policy objectives of the Union. Support under the InvestEU Fund should cover a wide range of sectors and regions, but should avoid
Amendment 43 #
Proposal for a regulation Recital 6 (6) The cultural and creative sectors are key and fast growing sectors in the Union, generating both economic and cultural value from intellectual property and individual creativity. However, restrictions on social contacts put in place during the Covid-19 crisis had a significantly negative economic impact on these sectors. Moreover, the intangible nature of the assets in those sectors limits the access of SMEs and organisations from those sectors to private financing which is essential to be able to invest, scale up and compete at an international level. The InvestEU Programme should continue to facilitate access to finance for SMEs and organisations from the cultural and creative sectors and benefit synergies with the tourism and food sectors. The cultural and creative, audiovisual and media sectors are essential for our cultural diversity and democracy in the digital age, and an intrinsic part of our sovereignty and autonomy, and strategic investments in audiovisual and media content and technology will determine the long-term capacity to produce and distribute content to wide audiences across national borders.
Amendment 44 #
Proposal for a regulation Recital 6 (6) The cultural and creative sectors are key and fast growing sectors in the Union, generating both economic and cultural value from intellectual property and individual creativity. However, restrictions on social contacts put in place during the Covid-19 crisis had a significantly negative economic impact on these sectors. Moreover, the intangible nature of the assets in those sectors limits the access of SMEs and organisations from those sectors to private financing which is essential to be able to invest, scale up and compete at an international level. The InvestEU Programme should continue to facilitate access to finance for SMEs and organisations from the cultural and creative sectors. The cultural and creative, audiovisual and media sectors as well as the creative industries, are essential for our cultural diversity and democracy in the digital age, and an intrinsic part of our sovereignty and autonomy, and strategic investments in audiovisual and media content and technology will determine the long-term capacity to produce and distribute content to wide audiences across national borders.
Amendment 45 #
Proposal for a regulation Recital 6 (6) The cultural and creative sectors are
Amendment 46 #
Proposal for a regulation Recital 8 (8) The Union endorsed the objectives set out in the United Nations 2030 Agenda for Sustainable Development (the "2030 Agenda"), its Sustainable Development Goals (SDGs) and the Paris Agreement adopted under the United Nations Framework Convention on Climate Change24 ("Paris Agreement on Climate Change") as well as the Sendai Framework for Disaster Risk Reduction 2015-2030. To achieve those objectives, as well as those set out in the environmental policies of the Union, such as the EU Biodiversity Strategy 2030 of the Union, action pursuing sustainable development is to be stepped up significantly and environmentally harmful subsidies must be phased-out. Therefore, the principles of sustainable development should feature prominently in the design of the InvestEU Fund. _________________ 24 OJ L 282, 19.10.2016, p. 4.
Amendment 47 #
Proposal for a regulation Recital 9 (9) The InvestEU Programme should contribute to building a sustainable finance system in the Union which supports the reorientation of private capital towards sustainable investments in accordance with the objectives set out in the communication of the Commission of 8 March 2018 ‘Action Plan: Financing Sustainable Growth’ and the communication of the Commission of 14 January 2020 on the European Green Deal Investment Plan, as well as in line with the criteria laid out in the Regulation (EU) 2020/852 of the European Parliament and of the Council1a. _________________ 1aRegulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (OJ L 198, 22.6.2020, p. 13).
Amendment 48 #
Proposal for a regulation Recital 10 Amendment 49 #
Proposal for a regulation Recital 10 (10) Reflecting the importance of tackling climate change in line with the
Amendment 50 #
Proposal for a regulation Recital 11 Amendment 51 #
Proposal for a regulation Recital 11 (11) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through a Union climate tracking system to be developed by the Commission and aligned with the harmonised multilateral development bank methodology on identifying climate action 24a in cooperation with potential implementing partners, appropriately using the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment25 ] for determining whether an economic activity is environmentally sustainable. The InvestEU Programme should also contribute to the implementation of other dimensions of the SDGs. _________________ 24a2019, Joint report on multilateral development banks' climate finance, August 2020, ERDB, EIB, ADB, AIIB, IDB Group, ISDB, WB Group 25 COM(2018)353.
Amendment 52 #
Proposal for a regulation Recital 12 Amendment 53 #
Proposal for a regulation Recital 13 (13) Investment projects
Amendment 54 #
Proposal for a regulation Recital 13 a (new) (13a) Taking into account the deterioration of the economic situation in the Union caused by the containment measures introduced as a response to the COVID-19 pandemic, with, in consequence, the expected contraction of the overall Union GDP by 8.3% in 2020 and, in some Member States, by more than 10%, the Programme, while facilitating transition of European industries to digitalisation and climate- neutrality, should prioritise Union economic recovery, reactivation of industrial production and employment.
Amendment 55 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, job creation, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long- term, which is visible in particular with regard to digital infrastructure. It is crucial to support fast and ultra-fast broadband connectivity in all rural and urban regions of the Union, encourage the digitalisation of public services, provide support to digital start-ups and innovative SMEs to enable them to better compete and scale up, and accelerate the digital transformation of the entire economy in order to increase both long- term competitiveness and the resilience of the Union economy. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a
Amendment 56 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long-term, affecting the convergence and cohesion of the Union. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the SDGs, and the 2030 energy and climate targets, including crucial investments in renovation and integrating innovative solutions in the building sector, in order to achieve the net-zero greenhouse gas emissions objective and a highly energy efficient and climate neutral building sector by 2025. Investments in the construction sector are also needed, contributing to creation of up to 2 million jobs and leading to a clean economy as part of the European Green Deal. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy sources and other safe and sustainable low-
Amendment 57 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence, while respecting the 'do no significant harm' principle and minimum safeguards as referred to in Regulation EU) 2020/8521a. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in
Amendment 58 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence and undermined the generation of jobs. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in innovation ecosystems that nurture technological entrepreneurship and start-ups' development as well as investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the SDGs, and the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy sources and other safe and sustainable low- emission energy sources, environmental infrastructure, infrastructure related to climate action, maritime infrastructure and digital infrastructure and transformation. The InvestEU Programme should prioritise areas that are under-invested, and in which additional investment is required. To maximise the impact and added value of Union financing support, it is appropriate to promote a streamlined investment process that enables visibility of the project pipeline
Amendment 59 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable economic and occupational growth, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the SDGs
Amendment 60 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates
Amendment 61 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the SDGs, and the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy sources and other safe and sustainable low- emission energy sources, environmental infrastructure, infrastructure related to climate action, maritime infrastructure, space infrastructure and digital infrastructure. The InvestEU Programme should prioritise areas that are under- invested, and in which additional investment is required. To maximise the impact and added value of Union financing support, it is appropriate to promote a streamlined investment process that enables visibility of the project pipeline and maximises synergies across relevant Union programmes in areas such as transport, energy and digitisation. Bearing
Amendment 62 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the SDGs, and the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy
Amendment 63 #
Proposal for a regulation Recital 18 (18) Although the level of overall investment in the Union was increasing before the Covid-19 crisis, investment in higher-risk activities such as research and innovation was still inadequate and is now
Amendment 64 #
Proposal for a regulation Recital 18 (18) Although the level of overall investment in the Union was increasing before the Covid-19 crisis, investment in higher-risk activities such as research and innovation was still inadequate and is now expected to have suffered a significant hit with the crisis.
Amendment 65 #
Proposal for a regulation Recital 18 (18) Although the level of overall investment in the Union was increasing before the Covid-19 crisis, investment was uneven per region, a trend that is expected to accelerate in the regions more affected by the pandemic. Moreover, investments in higher-risk activities such as research and innovation was still inadequate and is now expected to have suffered a significant hit with the crisis. The resulting underinvestment in research and innovation is damaging to the industrial and economic competitiveness of the Union, the job creation and quality and the quality of life of its citizens. The InvestEU Fund should provide appropriate financial products to cover different stages of the innovation cycle and a wide range of stakeholders, in particular to allow the upscaling of and deployment of solutions at a commercial scale in the Union in order to make such solutions competitive on world markets and to promote Union excellence in sustainable technologies at a global level, in synergy with Horizon Europe, including the European Innovation Council. In that regard, the experience gained from the financial instruments, such as InnovFin – EU Finance for Innovators, deployed under Horizon 2020 to facilitate and accelerate access to finance for innovative businesses should serve as a strong basis to deliver this targeted support.
Amendment 66 #
Proposal for a regulation Recital 19 (19) Tourism is an important area for the Union economy
Amendment 67 #
Proposal for a regulation Recital 19 (19) Tourism is an important area for the Union economy
Amendment 68 #
Proposal for a regulation Recital 19 (19) Tourism is an important area for the Union economy and the sector
Amendment 69 #
Proposal for a regulation Recital 19 (19)
Amendment 70 #
Proposal for a regulation Recital 19 (19) Tourism is an important area for the Union economy and the sector
Amendment 71 #
Proposal for a regulation Recital 19 (19) Tourism is an important area for the Union economy and the sector, which experienced a particularly severe contraction as a result of COVID-19 pandemic, with particular consequences for small family businesses. The InvestEU Programme should contribute to strengthening its long-
Amendment 72 #
Proposal for a regulation Recital 22 (22) As set out in the Commission's Reflection paper on the social dimension of Europe of 26 April 2017, the Communication on European Pillar of Social Rights, the Union framework for the UN Convention on the Rights of Persons with Disabilities and the Communication on ‘Strong Social Europe for Just Transitions’ of 14 January 2020, building a more inclusive and fair Union is a key priority for the Union to tackle inequality and foster social inclusion policies in
Amendment 73 #
Proposal for a regulation Recital 22 (22) As set out in the Commission's Reflection paper on the social dimension of Europe of 26 April 2017, the Communication on European Pillar of Social Rights, the Union framework for the UN Convention on the Rights of Persons with Disabilities and the Communication on ‘Strong Social Europe for Just Transitions’ of 14 January 2020, building a more inclusive and fair Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training, culture, employment, health and social services. Investment in the social, skills and human capital-related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. The InvestEU Fund should be used to support investment in education and training, including the re- skilling and upskilling of workers, inter alia in regions depending on a carbon intensive economy and affected by the structural transition to a low-carbon economy. It should be used to support projects that generate positive social impacts and enhance social inclusion by helping to increase employment across all regions, in particular among the unskilled and long-term unemployed, and to improve the situation with regard to gender equality, equal opportunities, non-discrimination, including forms of employment that support work-life balance and better distribution of care responsibilities, accessibility, intergenerational solidarity, the health and social services sector, social housing, homelessness, digital inclusiveness, community development, the role and place of young people in society as well as vulnerable people, including third country nationals. The InvestEU Programme should also support European culture and creativity that has a social goal.
Amendment 74 #
Proposal for a regulation Recital 22 (22) As set out in the Commission's Reflection paper on the social dimension of Europe of 26 April 2017, the Communication on European Pillar of Social Rights, the Union framework for the UN Convention on the Rights of Persons with Disabilities and the Communication on ‘Strong Social Europe for Just Transitions’ of 14 January 2020, building a more inclusive and fair Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training, culture, employment, health and social services. Investment in the social, skills and human capital-related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. The InvestEU Fund should be used to support investment in education and training, including the re- skilling, upskilling and
Amendment 75 #
Proposal for a regulation Recital 22 (22) As set out in the Commission's Reflection paper on the social dimension of Europe of 26 April 2017, the Communication on European Pillar of Social Rights, the Union framework for the UN Convention on the Rights of Persons with Disabilities and the Communication on ‘Strong Social Europe for Just Transitions’ of 14 January 2020, building a more inclusive and fair Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training, culture, employment, health and social services. Investment in the social, skills and human capital-related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. The InvestEU Fund should be used to support investment in education and training, including the re- skilling and upskilling of workers, inter alia in regions depending on a carbon
Amendment 76 #
Proposal for a regulation Recital 23 (23) To counter the negative effects of profound transformations of societies in the Union and of the labour market in the coming decade, it is necessary to invest in human capital, social infrastructure, microfinance, ethical and social enterprise finance and new social economy business models, including social impact investment and social outcomes contracting. The InvestEU Programme should strengthen nascent social market eco-system to increase the supply of and access to finance to micro- and social enterprises and social solidarity institutions, in order to meet the demand of those who need it the most. The report of the High-Level Task Force on
Amendment 77 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically viable projects to crowd in private finance is particularly valuable and should be reinforced, inter alia in order to counteract the risk of an asymmetric recovery. The InvestEU Programme should be able to provide crucial support to companies in the recovery phase and at the same time ensure a strong focus of investors on the Union’s medium- and long-term policy priorities and the implementation of Union legislation, such as the European Green Deal, the European Green Deal Investment Plan, the
Amendment 78 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically
Amendment 79 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically viable projects to crowd in private finance is particularly valuable and should be reinforced, inter alia in order to counteract the risk of an asymmetric recovery. The
Amendment 80 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically viable projects to crowd in private finance is particularly valuable and should be reinforced, inter alia in order to counteract the risk of an asymmetric recovery. The InvestEU Programme should be able to provide crucial support to companies in the recovery phase and at the same time ensure a strong focus of investors on the Union’s medium- and long-term policy priorities such as
Amendment 81 #
Proposal for a regulation Recital 25 (25) The Covid-19 pandemic is a major shock to the global and Union economy. The contraction in EU GDP is expected to be far deeper than during the financial crisis in 2009 and adverse social effects will be inevitable. The outbreak of the pandemic has shown the need for strategic vulnerabilities to be addressed in order to improve the Union’s emergency response as well as the resilience of the entire economy. Only a resilient, meaning digitalized and environmentally sustainable, inclusive and integrated European economy can preserve the Single Market and the level playing field also to the benefit of the hardest-hit Member States.
Amendment 82 #
(25) The Covid-19 pandemic is a major shock to the global and Union economy. The contraction in EU GDP is expected to be far deeper than during the financial crisis in 2009 and adverse social effects will be inevitable. The outbreak of the pandemic has shown the need for strategic vulnerabilities to be addressed in order to improve the Union’s emergency response as well as the resilience of the entire economy. Only a resilient, digitalised, climate friendly, inclusive and integrated European economy can preserve the Single Market and the level playing field also to the benefit of the hardest-hit Member States.
Amendment 83 #
Proposal for a regulation Recital 25 (25) The Covid-19 pandemic is a major shock to the global and Union economy. The contraction in EU GDP is expected to be far deeper than during the financial crisis in 2009 and adverse social effects will be inevitable. The outbreak of the pandemic has shown the need for strategic vulnerabilities to be addressed in order to improve the Union’s emergency response as well as the resilience of the entire economy. Only a resilient, digitalised, innovative, inclusive and integrated European economy can preserve the Single Market and the level playing field also to the benefit of the hardest-hit
Amendment 84 #
Proposal for a regulation Recital 27 Amendment 85 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union, in
Amendment 86 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic
Amendment 87 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients, including SMEs, established in a Member State and operating in the Union whose activities are of strategic
Amendment 88 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions and of enhanced resilience in areas of (i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity and of the civil
Amendment 89 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions and of enhanced resilience in areas of (i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity and of the civil protection system, (ii) critical infrastructure, whether physical or virtual; (iii) provision of goods and services instrumental to the operation and maintenance of such infrastructure, (iv) key enabling, transformative, green and digital technologies and game-changing innovations where the investment is strategically important for the Union’s industrial future, including artificial intelligence, blockchain, software, robotics, semiconductors, microprocessors, edge and cloud technologies, high-performance computing, cybersecurity, quantum technologies, photonics, industrial biotechnology, renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies, clean hydrogen and fuel cell
Amendment 90 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions
Amendment 91 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions and of enhanced resilience in areas of (i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity and of the civil protection system, (ii) critical infrastructure, whether physical or virtual; (iii) provision of goods and services instrumental to the operation and maintenance of such infrastructure, (iv) key enabling, transformative, green and digital technologies and game-changing innovations where the investment is strategically important for the Union’s industrial future, including gigabit connectivity, artificial intelligence, blockchain, software, robotics, semiconductors, microprocessors, edge cloud technologies, high-performance computing, cybersecurity, quantum technologies, photonics, industrial biotechnology, renewable energy technologies, energy storage technologies including batteries, sustainable transport
Amendment 92 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in
Amendment 93 #
Proposal for a regulation Recital 29 (29) The strategic European investment window should also target suppliers established and operating in the Union whose activities are of strategic importance to the Union and that would need long term investment or are covered by the Foreign Direct Investment Screening mechanism. In addition, important projects of common European interest
Amendment 94 #
Proposal for a regulation Recital 29 (29) The strategic European investment window should also target suppliers established and operating in the Union whose activities are of strategic importance to the Union and that would need long term investment or are covered by the Foreign Direct Investment Screening mechanism. In addition, important projects of common European interest should in particular be able to benefit from the strategic European investment window. The strategic European investment window should also support strategic collaboration between industry partners and research actors. This will reinforce synergies between InvestEU and Horizon Europe.
Amendment 95 #
Proposal for a regulation Recital 29 (29) The strategic European investment window should also target suppliers established and operating in the Union whose activities are of strategic importance to the Union, do not represent a threat to the security and defence interests of the Union and that would need long term investment or are covered by the Foreign Direct Investment Screening mechanism. In addition, important projects of common European interest should in particular be able to benefit from the strategic European investment window.
Amendment 96 #
Proposal for a regulation Recital 29 a (new) (29a) The addition of the strategic European investment window is necessary as a result of the global outbreak of Covid-19, and its impact on people's lives. It should foster sustainable economic recovery and increase resilience, while ensuring strict additionality of all investments supported through InvestEU.
Amendment 97 #
Proposal for a regulation Recital 30 (30) The InvestEU should also provide support to financing to generate investment to the benefit of just transition regions, as well as the possibility for the respective regions to benefit from dedicated technical assistance via the InvestEU Advisory Hub.
Amendment 98 #
Proposal for a regulation Recital 30 (30) The InvestEU should also provide support to financing to generate investment to the benefit of just transition regions, notably also in the area of energy efficiency and renewable energies.
Amendment 99 #
Proposal for a regulation Recital 30 (30) The InvestEU should also provide support to financing to generate sustainable investment to the benefit of just transition regions.
source: 657.168
2020/09/04
ENVI
239 amendments...
Amendment 1 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of strategic industries on non-diversified external supply sources. Such vulnerabilities need to be addressed, to improve the Union’s emergency response as well as the resilience of the entire economy, while maintaining its openness to competition and trade in line with its rules. Investment activity is expected to have dropped significantly. Even before the pandemic, while a recovery in investment-to-GDP ratios in the Union could be observed, it remained below what might be expected in a strong recovery and was insufficient to compensate for years of underinvestment following the 2009 crisis. More importantly, the current investment levels and forecasts do not cover the Union’s needs for structural investment to restart and sustain long-term sustainable growth in the face of climate transition, environmental degradation, technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium-
Amendment 10 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable and inclusive growth and jobs, such as 'Europe 2020 - A strategy for smart, sustainable and inclusive growth' of 3 March 2010, 'Action Plan on Building a Capital Markets Union' of 30 September 2015, 'A new European Agenda for Culture' of 22 May 2018, 'Clean Energy for all Europeans' of 30 November 2016, 'Closing the loop - An EU action plan for the Circular Economy' of 2 December 2015, 'A European Strategy for Low- Emission Mobility' of 20 July 2016, ‘European Defence Action Plan’ of 30 November 2016, 'Launching the European Defence Fund' of 7 June 2017, 'Space Strategy for Europe' of 26 October 2016, the
Amendment 100 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable and inclusive recovery of the Union economy after the crisis caused by the Covid-19 pandemic, upholding and strengthening its strategic value chains and maintaining and reinforcing activities of strategic importance to the Union in relation to critical infrastructure, transformative technologies, game-changing innovations and inputs to businesses and consumers, supporting the sustainable transition in line with the EU taxonomy established by Regulation (EU) 2020/852 and based on time-bound and science-based targets.
Amendment 101 #
Proposal for a regulation Article 3 – paragraph 2 – point b (b) supporting financing and investment operations in line with the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle, such as related to research, innovation and digitisation, including support for the scaling up of innovative companies and the rolling out of technologies to market, in the areas referred to in point (b) of Article 7(1);
Amendment 102 #
Proposal for a regulation Article 3 – paragraph 2 – point e (e) to support financing and investment operations in sectors referred to in point (e) of Article 7(1) in order to maintain and reinforce the strategic autonomy and sustainability of the Union and of its economy.
Amendment 103 #
Proposal for a regulation Article 6 – paragraph 2 – point a (a) be consistent with the policy objectives, the 'do no significant harm' principle, and comply with the eligibility criteria set out in the rules of the Union programme under which the support is decided;
Amendment 104 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) a sustainable infrastructure policy
Amendment 105 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) a sustainable infrastructure policy window which comprises sustainable investment in the areas of transport, including multimodal transport, road safety, including in accordance with the Union objective of eliminating fatal road accidents and serious injuries by 2050, the renewal and maintenance of rail and road infrastructure,
Amendment 106 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) a sustainable infrastructure policy window which comprises sustainable investment in the areas of transport,
Amendment 107 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) a sustainable infrastructure policy window which comprises sustainable investment in the areas of transport, including multimodal transport, road safety, including in accordance with the Union objective of eliminating fatal road accidents and serious injuries by 2050, the renewal and maintenance of rail and road
Amendment 108 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) a social investment and skills policy window, which comprises microfinance, social enterprise finance, social economy and measures to promote
Amendment 109 #
Proposal for a regulation Article 7 – paragraph 1 – point e – introductory part (e) a strategic European investment policy window which comprises strategic investment to support final recipients that are established in a Member State and that operate in the Union, and whose activities are of strategic importance to the Union, in particular in view of the
Amendment 11 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable and inclusive growth and jobs, such as 'Europe 2020 - A strategy for smart, sustainable and inclusive growth' of 3 March 2010, 'Action Plan on Building a Capital Markets Union' of 30 September 2015, 'A new European Agenda for Culture' of 22 May 2018, 'Clean Energy for all Europeans' of 30 November 2016, 'Closing the loop - An EU action plan for the Circular Economy' of 2 December 2015, 'A European Strategy for Low- Emission Mobility' of 20 July 2016, ‘European Defence Action Plan’ of 30 November 2016, 'Launching the European Defence Fund' of 7 June 2017, 'Space Strategy for Europe' of 26 October 2016, the Interinstitutional Proclamation on the European Pillar of Social Rights of 13 December 2017, the ‘European Green Deal’ of 11 December 2019, the ‘European Green Deal Investment Plan’ of 14 January 2020, the ‘Strong Social Europe for Just Transitions’ of 14 January 2020, the ‘Strategy for shaping Europe’s digital future’, the ‘Data Strategy’ and the ‘Artificial Intelligence Communication’ of 19 February 2020, ‘A New Industrial Strategy for Europe’ of 10 March 2020
Amendment 110 #
Proposal for a regulation Article 7 – paragraph 1 – point e – introductory part (e) a strategic European investment policy window which comprises strategic investment to support final recipients that are established in
Amendment 111 #
Proposal for a regulation Article 7 – paragraph 1 – point e – introductory part (e) a strategic European investment policy window which comprises strategic investment to support final recipients that are established in a Member State and that operate in the Union, that have not been involved, investigated or prosecuted for money laundering, terrorism financing, tax avoidance or tax evasion, and whose activities are of strategic importance to the Union, in particular in view of
Amendment 112 #
Proposal for a regulation Article 7 – paragraph 1 – point e – introductory part (e) a strategic European investment policy window which comprises strategic investment to support final recipients that
Amendment 113 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point i i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices
Amendment 114 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point i i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals
Amendment 115 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point i i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medic
Amendment 116 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point i Amendment 117 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point i a (new) i a) critical sustainable infrastructure to move to a de-carbonised, circular and environmentally sustainable European economy and society in line with the Union's climate objectives laid down in [Regulation (EU) 2020/XXX establishing the framework for achieving climate neutrality and amending Regulation (EU)2018/1999 ("European Climate Law");
Amendment 118 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether physical or virtual, including green infrastructure and elements identified as critical in the fields of renewable energy, transport, environment, ecosystem connectivity, urban microclimate, health, secure digital communication, 5G, internet of things, online service platforms, secure cloud computing, data processing or storage, payments and financial infrastructure, aerospace, defence, communications, media, education and
Amendment 119 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether physical or virtual, including infrastructure elements identified as critical in the fields of energy, transport, environment, health, food safety, secure digital communication, 5G, internet of things, online service platforms, secure cloud computing, data processing or storage, payments and financial infrastructure, aerospace, defence, communications, media, education and training, electoral infrastructure and sensitive facilities, as well as land and real estate crucial for the use of such critical infrastructure;
Amendment 12 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the
Amendment 120 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether physical or virtual, including infrastructure
Amendment 121 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether physical or virtual, including infrastructure elements identified as critical in the fields of energy, transport, environment, health, secure digital communication
Amendment 122 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iii iii) the provision of goods and services instrumental to the operation and maintenance of the critical infrastructure under point ii) including ecosystem services through conservation and restoration of terrestrial, freshwater and marine ecosystems;
Amendment 123 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – introductory part iv) key enabling, transformative, green and digital technologies and game- changing innovations with broad societal benefits, where the investment is strategically important for the
Amendment 124 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – introductory part iv) key enabling, transformative,
Amendment 125 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – introductory part iv) key enabling, transformative,
Amendment 126 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point a (a) artificial intelligence, blockchain, software, robotics, semiconductors, microprocessors, edge cloud technologies, high-performance computing, cybersecurity, quantum technologies, photonics, industrial biotechnology, digital technologies for tracking, tracing and mapping of resources,
Amendment 127 #
(a a) innovations supporting, enabling and accelerating the green transition towards climate neutral, circular and sustainable economy in line with the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle, measured by science-based and time-bound targets,
Amendment 128 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies, clean hydrogen and fuel cell applications, decarbonisation technologies for industry, negative emissions technologies including carbon capture and storage, circular economy technologies, including in their continued innovation towards hazardous substance substitution and high value recycling of components and materials at end of life,
Amendment 129 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) energy efficiency and renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies,
Amendment 13 #
Proposal for a regulation Recital 4 (4) At Union level, the European Semester of economic policy coordination is the framework to identify national reform priorities and monitor their implementation. Member States, where appropriate in cooperation with local and regional authorities, develop their own national multiannual investment strategies in support of those reform priorities. Those strategies should be presented alongside the yearly national reform programmes as a way of outlining and coordinating priority investment projects that are to be supported by national funding, Union funding, or both. Those strategies should also use Union funding in a coherent manner and maximise the added value of the financial support to be received notably from the European structural and investment funds, the Recovery and Resilience Facility and the InvestEU Programme. However, country-specific recommendations have often had counterproductive macro- economic effects; notably, in the field of public health they have recommended the weakening of public health systems in several Member States, which therefore found themselves less equipped to deal with the COVID-19 outbreak.
Amendment 130 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies,
Amendment 131 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) nuclear energy, renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies, clean hydrogen and fuel cell applications, decarbonisation technologies for industry, carbon capture and storage,
Amendment 132 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) renewable energy technologies, energy storage technologies including batteries, sustainable and low carbon transport technologies, clean hydrogen and fuel cell applications, decarbonisation technologies for industry, carbon capture and storage, circular economy technologies,
Amendment 133 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies, clean hydrogen and fuel cell applications, decarbonisation technologies for industry
Amendment 134 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies,
Amendment 135 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b a (new) (b a) circular economy technologies, including innovative technologies to improve use of waste for material purposes to optimize bioeconomy and decrease pressure on biosphere and its carbon sequestration potential,
Amendment 136 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b b (new) Amendment 137 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point c (c) biomedicine, nanotechnologies, pharmaceuticals and advanced, renewable and circular materials;
Amendment 138 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point c (c) biomedicine, nanotechnologies, biotechnologies, pharmaceuticals and advanced materials;
Amendment 139 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point v v) manufacturing facilities for mass production of Information Communication and Technology components and devices in the EU having regard to resource efficiency, waste prevention and circularity in the value chains;
Amendment 14 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence
Amendment 140 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vi vi) supply and stockpiling of critical inputs to public actors, businesses or consumers in the EU, including energy or raw materials or food security, having regard to resource efficiency
Amendment 141 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vi vi) supply and stockpiling of critical inputs to public actors, businesses or consumers in the EU, including energy or raw materials
Amendment 142 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vi vi) supply and stockpiling of critical inputs to public actors, businesses or consumers in the EU, including energy or raw materials or food security or pharmaceuticals, having regard to resource efficiency, waste prevention and circularity in strategic value chains;
Amendment 143 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – introductory part vii) critical technologies and inputs for the security of the Union and its Member States, such as
Amendment 144 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – paragraph 1 In addition, in the case of investments in space, defence and cybersecurity, and in specific types of projects with actual and direct security implications in critical sectors, the final recipients shall not be controlled by a third country or third country entities and shall have their executive management in the Union with a view to protect the security of the Union and its Member States. Financial support shall not be provided when a project is not in line with the strategic and economic interests of the Union, for instance for projects that would increase dependency on vulnerable or undiversified supply chains.
Amendment 145 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – paragraph 1 a (new) Access to the finacing made available under the strategic European investment policy window shall be conditional on the endorsement and demonstration of Member States commitment to the Union objective of climate neutrality and individual Member States climate neutrality objective by 2050 at the latest, as well as on the adoption of a long-term strategy as referred to in Article 15 of Regulation(EU) 2018/1999.
Amendment 146 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – paragraph 2 Activities shall not be eligible for support under this Regulation if they are: (a) inconsistent with the achievement of the Paris Agreement and the European Green Deal´s climate and environmental objectives, notably the objective of climate neutrality by 2050 and the objectives set according to Regulation XXXX/XX (European Climate Law) (b) not complying with the ‘do no significant harm’ principle established by Regulation 2020/852. The Steering Board shall set any necessary requirements relating to the control and executive management of final recipients for other areas under the strategic European investment window, and to the control of intermediaries under that window, in the light of any applicable public order or security considerations.
Amendment 147 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – paragraph 2 The Steering Board, in close collaboration with the Advisory Board, shall set any necessary
Amendment 148 #
Proposal for a regulation Article 7 – paragraph 2 2. Where a financing or investment operation proposed to the Investment Committee referred to in Article 23 falls under more than one policy window, it shall be screened against the EU taxonomy screening criteria etablished by Regulation (EU) 2020/852 and particularly the 'do no significant harm' principle. It shall be attributed to the policy window under which its main objective or the main objective of most of its sub- projects falls, unless the investment guidelines provide otherwise.
Amendment 149 #
Proposal for a regulation Article 7 – paragraph 2 a (new) 2 a. Financing and investment operations shall pass the 'do no significant harm' test as set out in Article 17 of Regulation (EU) 2020/852.
Amendment 15 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence and cohesion of the Union, including in the fields of innovation and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social and environmental resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises. To that end, the InvestEU Fund should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments backed up by a guarantee from the Union budget and by financial contributions from implementing partners as relevant. The InvestEU Fund should be demand-driven, while at the same time it should focus on providing strategic, long-term benefits in relation to key areas of Union policy which otherwise would not be funded or would be insufficiently funded, thereby contributing to meeting policy objectives of the Union. Support under the InvestEU Fund should cover a wide range of sectors and regions, but should avoid excessive sectoral or geographical concentration and should facilitate access of projects composed of partner entities in multiple regions across the EU.
Amendment 150 #
Proposal for a regulation Article 7 – paragraph 3 3. Financing and investment operations shall be screened to determine whether they have an environmental, climate or social impact. If those operations have such an impact they shall be subject to climate, environmental and social sustainability proofing with a view to minimising detrimental impacts and to maximising benefits to the climate, environment and social dimensions. For that purpose, project promoters that request financing shall provide adequate information based on the guidance referred to in paragraph 4. Projects below a certain size specified in the guidance shall be excluded from the proofing. Projects that are
Amendment 151 #
Proposal for a regulation Article 7 – paragraph 3 3. Financing and investment operations shall be screened to determine whether they have an environmental, climate or social impact. If those operations have such an impact they shall be subject to climate, environmental and social sustainability proofing with a view to
Amendment 152 #
Proposal for a regulation Article 7 – paragraph 3 3. Financing and investment operations shall be screened to determine whether they have an environmental, climate or social impact. If those operations have such an impact they shall be subject to climate, environmental and social sustainability proofing with a view to minimising detrimental impacts and to maximising benefits to the climate,
Amendment 153 #
Proposal for a regulation Article 7 – paragraph 4 – introductory part 4. The Commission shall develop sustainability guidance that, in accordance with Union environmental and social objectives and standards, including Regulation (EU) 2020/852, allows to:
Amendment 154 #
Proposal for a regulation Article 7 – paragraph 4 – introductory part 4. The Commission shall develop sustainability guidance
Amendment 155 #
Proposal for a regulation Article 7 – paragraph 4 – introductory part 4. The Commission shall develop sustainability guidance that, in accordance with Union climate, environmental and social objectives and standards, allows to:
Amendment 156 #
Proposal for a regulation Article 7 – paragraph 4 – point -a (new) (-a) support partners and beneficiaries with regards to how EU taxonomy objectives and the 'do no significant harm' principle can be achieved and implemented;
Amendment 157 #
Proposal for a regulation Article 7 – paragraph 4 – point a (a) as regards adaptation, ensure
Amendment 158 #
Proposal for a regulation Article 7 – paragraph 4 – point b (b)
Amendment 159 #
Proposal for a regulation Article 7 – paragraph 4 – point b a (new) (b a) assess projects against their contribution to the Union's 2030 climate and energy targets and to the objective of reaching net-zero greenhouse gas emissions by 2040 at the latest within the Union;
Amendment 16 #
Proposal for a regulation Recital 8 Amendment 160 #
Proposal for a regulation Article 7 – paragraph 4 – point c (c) estimate the social impact of projects, including on gender equality, on the social inclusion of certain areas
Amendment 161 #
Proposal for a regulation Article 7 – paragraph 4 – point c (c) estimate the social impact of projects
Amendment 162 #
Proposal for a regulation Article 7 – paragraph 4 – point d (d) identify projects that are
Amendment 163 #
Proposal for a regulation Article 7 – paragraph 4 – point d (d) identify projects that are inconsistent with the achievement of
Amendment 164 #
Proposal for a regulation Article 7 – paragraph 4 – point d a (new) (d a) assess projects against their contribution to the transition towards climate neutrality, based on science-based and timebound targets, including 2030 climate and energy targets.
Amendment 165 #
Amendment 166 #
Proposal for a regulation Article 7 – paragraph 6 – introductory part 6. Implementing partners shall apply a target of at least
Amendment 167 #
Proposal for a regulation Article 7 – paragraph 6 – introductory part 6.
Amendment 168 #
Proposal for a regulation Article 7 – paragraph 6 – introductory part 6. Implementing partners shall apply a target of
Amendment 169 #
Proposal for a regulation Article 7 – paragraph 8 8. For financing and investment operations under the strategic European investment window in
Amendment 17 #
Proposal for a regulation Recital 8 (8) The Union endorsed the objectives set out in the United Nations 2030 Agenda for Sustainable Development (the "2030 Agenda"), its Sustainable Development Goals (SDGs) and the Paris Agreement
Amendment 170 #
Proposal for a regulation Article 13 – paragraph 1 – point a a (new) (a a) comply with the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle;
Amendment 171 #
Proposal for a regulation Article 13 – paragraph 1 – point b (b) contribute to the
Amendment 172 #
Proposal for a regulation Article 19 – paragraph 1 1. The Commission and the Steering Board established pursuant to Article 20 shall be advised by an Advisory Board and shall report to it.
Amendment 173 #
Proposal for a regulation Article 19 – paragraph 2 – introductory part 2. The Advisory Board shall
Amendment 174 #
Proposal for a regulation Article 19 – paragraph 6 Amendment 175 #
Proposal for a regulation Article 19 – paragraph 7 7. The Advisory Board
Amendment 176 #
Proposal for a regulation Article 19 – paragraph 8 – subparagraph 1 The Commission, in conjunction with the Member States, shall establish the
Amendment 177 #
Proposal for a regulation Article 21 – paragraph 3 – point a (a) a description of the proposed financing and investment operation, and how they adhered to the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle;
Amendment 178 #
Proposal for a regulation Article 21 – paragraph 3 – point b (b) how the proposed operation contributes to EU policy objectives, in particular the transition to climate neutrality based on science-based and timebound targets, and the European Green Deal and other sustainability objectives;
Amendment 179 #
Proposal for a regulation Article 21 – paragraph 3 – point b (b) how the proposed operation contributes to E
Amendment 18 #
Proposal for a regulation Recital 8 (8) The Union endorsed the objectives set out in the United Nations 2030 Agenda for Sustainable Development (the "2030 Agenda"), its Sustainable Development Goals (SDGs) and the Paris Agreement adopted under the United Nations Framework Convention on Climate Change24 ("Paris Agreement on Climate Change") as well as the Sendai Framework for Disaster Risk Reduction 2015-2030. To achieve those objectives, as well as those set out in the environmental policies of the Union, action pursuing sustainable development is to be stepped up significantly and environmentally harmful subsidies is to be phased-out. Therefore, the principles of sustainable development should feature prominently in the design of the InvestEU
Amendment 180 #
Proposal for a regulation Article 21 – paragraph 3 – point d (d) description of the market failure
Amendment 181 #
Proposal for a regulation Article 21 – paragraph 3 – point d a (new) (d a) description of the sub-optimal investment situation;
Amendment 182 #
Proposal for a regulation Article 21 – paragraph 3 – point f (f) the impact of the investment
Amendment 183 #
Proposal for a regulation Article 21 – paragraph 3 – point f a (new) (f a) description of the addressing of the risks as listed in the Global Risk Report 2020 based on their likelihood and impact;
Amendment 184 #
Proposal for a regulation Article 21 – paragraph 3 – point g a (new) (g a) sustainability indicators as established by Regulation (EU) 2019/2088;
Amendment 185 #
Proposal for a regulation Article 23 – paragraph 1 – introductory part 1. A
Amendment 186 #
Proposal for a regulation Article 23 – paragraph 1 – point d a (new) (d a) ensure the achievement of the climate and environment spending targets set out in Article 7(6) for the sustainable infrastructure policy window and the strategic European investment policy window;
Amendment 187 #
Proposal for a regulation Article 23 – paragraph 2 – subparagraph 1 Each configuration of the Investment Committee shall be composed of six remunerated external experts. The experts shall be selected and shall be appointed by the Commission, at the recommendation of the Steering Board and after consulting the representatives of the Member States. The experts shall be appointed for a term of up to four years, renewable once. They shall be remunerated by the Union. The Commission, at the recommendation of the Steering Board, may decide to renew the term of office of an incumbent member of the Investment Committee without following the procedure laid down in this paragraph.
Amendment 188 #
Proposal for a regulation Article 23 – paragraph 2 – subparagraph 3 The composition of the Investment Committee shall ensure that it has a wide knowledge of the sectors covered by the policy windows referred to in Article 7(1) and a wide knowledge of the geographic markets in the Union
Amendment 189 #
Proposal for a regulation Article 23 – paragraph 5 – subparagraph 4 Twice a year, the Investment Committee shall submit to the European Parliament and to the Council a list of all conclusions of the Investment Committee in the preceding six months, as well as the published Scoreboards relating thereto. That submission shall include any decisions rejecting the use of the EU guarantee and
Amendment 19 #
Proposal for a regulation Recital 8 (8) The Union endorsed the objectives set out in the United Nations 2030 Agenda for Sustainable Development (the "2030 Agenda"), its Sustainable Development Goals (SDGs) and the Paris Agreement adopted under the United Nations Framework Convention on Climate Change24 ("Paris Agreement on Climate Change") as well as the Sendai Framework for Disaster Risk Reduction 2015-2030. To achieve those objectives, as well as those set out in the environmental policies of the Union, action pursuing sustainable development
Amendment 190 #
Proposal for a regulation Article 24 – paragraph 2 – point e (e) facilitate the establishment of collaborative platforms for peer-to-peer exchanges and the sharing of data, knowhow and best practices to support project pipeline and sector development, and local level project nurseries bringing together innovators, project promoters and financers;
Amendment 191 #
Proposal for a regulation Article 24 – paragraph 2 – point h (h) support capacity building actions to develop organisational capacities, skills and processes and to accelerate the investment readiness of organisations in order for public authorities and project promoters to build investment project pipelines, develop financing mechanisms and investment platforms and to manage projects and for financial intermediaries to implement financing and investment operations for the benefit of entities that face difficulties in obtaining access to finance, including through support for developing risk assessment capacity or sector specific knowledge; establish local and regional level project nurseries bringing together innovators, project promoters and financers, and helping the projects to become eligible for financing;
Amendment 192 #
Proposal for a regulation Article 27 – paragraph 1 1.
Amendment 193 #
Proposal for a regulation Article 28 – paragraph 1 a (new) 1 a. Evaluations shall cover the environmental impact of a project or of an activity, based on harmonised sustainability indicators, Natural Capital Accounting, Life Cycle Analysis, and climate tracking and sustainability proofing.
Amendment 194 #
Proposal for a regulation Annex II – point 1 – introductory part 1. The development of the energy sector in accordance with the Energy Union priorities, including security of energy supply, clean energy transition
Amendment 195 #
Proposal for a regulation Annex II – point 1 – introductory part 1. The development of the energy sector in accordance with the Energy Union priorities, including security of energy supply, clean energy transition and the commitments taken under the 2030 Agenda for Sustainable Development and the Paris Agreement on Climate Change and at the same time compatible with the goals of the Biodiversity Strategy 2030, in particular through:
Amendment 196 #
Proposal for a regulation Annex II – point 1 – point a (a) the expansion of the generation, supply or use of clean and sustainable renewable and safe and sustainable other zero and low-emission energy sources and solutions; in case of hydropower only retrofitting of existing operations with nature like fishways is eligible;
Amendment 197 #
Proposal for a regulation Annex II – point 1 – point a (a) the expansion of the generation, supply or use of clean and sustainable renewable and safe and sustainable other zero and low-emission energy sources and solutions, including nuclear power and bridging technology such as natural gas;
Amendment 198 #
Proposal for a regulation Annex II – point 1 – point a (a) the expansion of the generation, supply or use of clean and sustainable renewable and safe and sustainable other zero and low-emission energy sources and solutions, including nuclear energy;
Amendment 199 #
Proposal for a regulation Annex II – point 1 – point e (e) the production and supply of sustainable synthetic fuels from renewable/carbon-neutral sources and other safe and sustainable zero- and low- emission sources, biofuels, biomass and alternative fuels, including fuels for all modes of transport, in accordance with the
Amendment 2 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of strategic industries on non-diversified external supply sources. Such vulnerabilities need to be addressed, particularly for small and medium-sized enterprises (SMEs), to improve the Union’s emergency response as well as the resilience of the entire economy, while maintaining its openness to competition and trade in line with its rules. Investment activity is expected to have dropped significantly. Even before the pandemic, while a recovery in investment-to-GDP ratios in the Union could be observed, it remained below what might be expected in a strong recovery and was insufficient to compensate for years of underinvestment following the 2009 crisis. More importantly, the current investment levels and forecasts do not cover the Union’s needs for structural investment to
Amendment 20 #
Proposal for a regulation Recital 8 a (new) (8 a) According to recent research, reducing the temperature increase to 1,5- 2 degrees represents an economically optimal climate policy1a , which is a switch from the 2016 position that such a reduction in the temperature increase is either unattainable or far from the economic optimum. With this understanding, the InvestEU should be a basis for support of an ambitious climate policy. _________________ 1a M. C. Hänsel, M. A. Drupp, D. J. A. Johansson, F. Nesje, Ch. Azar, M. C. Freeman, B. Groom and T. Sterner, 2020: Climate economics support for the UN climate targets. In Nature Climate Change, available at: https://www.nature.com/articles/s41558- 020-0833-x
Amendment 200 #
Proposal for a regulation Annex II – point 1 – point f (f) infrastructure for carbon capture, and storage in industrial processes,
Amendment 201 #
Proposal for a regulation Annex II – point 2 – introductory part 2. The development of sustainable and safe transport infrastructures and mobility solutions, equipment and innovative technologies in accordance with Union transport priorities and the commitments taken under the Paris Agreement on Climate Change, and compatible with the Biodiversity Strategy goals by fitting or retrofitting the infrastructure with wildlife corridors and ensuring habitat connectivity where applicable, in particular through:
Amendment 202 #
Proposal for a regulation Annex II – point 3 – point a (a) water, including drinking water supply and sanitation, and network efficiency, leakage reduction, infrastructure for the collection and treatment of waste water,
Amendment 203 #
Proposal for a regulation Annex II – point 3 – point d (d) the enhancement and restoration of eco systems and their services including through improved scientifically-based management or through application of result-based schemes and related investments, or through the enhancement of nature and biodiversity by means of green and blue infrastructure projects;
Amendment 204 #
Proposal for a regulation Annex II – point 3 – point d a (new) (d a) investments in restoration, improved resilience and use of agricultural areas, establishment, restoration and rejuvenation of agroforestry systems, or rewetting peatlands;
Amendment 205 #
Proposal for a regulation Annex II – point 3 – point e (e) sustainable and climate- resilient urban, rural and coastal development;
Amendment 206 #
Proposal for a regulation Annex II – point 3 – point f (f) climate
Amendment 207 #
Proposal for a regulation Annex II – point 3 – point g (g) projects and enterprises that implement the circular economy by integrating resource efficiency and cascading-use aspects in the production and product life-cycle,
Amendment 208 #
Proposal for a regulation Annex II – point 3 – point i (i) the decarbonisation of the energy production and distribution chain by phasing out the use of coal, high CO2 emissions per unit of energy biomass fuel and oil; and
Amendment 209 #
Proposal for a regulation Annex II – point 3 – point j (j) projects that promote
Amendment 21 #
Proposal for a regulation Recital 9 Amendment 210 #
Proposal for a regulation Annex II – point 12 – point g Amendment 211 #
Proposal for a regulation Annex II – point 12 – point h Amendment 212 #
Proposal for a regulation Annex II – point 15 15. Seas and oceans, through the development of projects and enterprises in the area of the blue economy, and the Sustainable Blue Economy Finance Principles, in particular through maritime entrepreneurship and industry, renewable marine energy and circular economy solutions.
Amendment 213 #
Proposal for a regulation Annex III – point 3 – point 3.2 a (new) 3.2 a Investment addressing minimum 3 of the top 10 risks1a _________________ 1a Global Risk Report 2020
Amendment 214 #
Proposal for a regulation Annex III – point 3 – point 3.2 b (new) 3.2 b Investment supporting Biodiversity Strategy targets
Amendment 215 #
Proposal for a regulation Annex III – point 3 – point 3.4 3.4. Investment supporting industrial transition and circularity
Amendment 216 #
Proposal for a regulation Annex III – point 4 – point 4.1 a (new) 4.1 a Energy: volume of investment in reduced environmental impact (e.g. retrofitting with nature-like fishways, restoration of seasgrass meadows destroyed by submarine electric cables)
Amendment 217 #
Proposal for a regulation Annex III – point 4 – point 4.7 – indent 4 a (new) - Volume of investment in safe wildlife crossings and corridors
Amendment 218 #
Proposal for a regulation Annex III – point 4 – point 4.7 – indent 4 b (new) - Number of projects consisting of wildlife crossings and corridors, and km2 of ecosystems positively affected
Amendment 219 #
Proposal for a regulation Annex III – point 4 – point 4.8 4.8 Environment: Investment contributing to the implementation of plans and programmes required by the Union environmental acquis relating to air quality, water, waste and nature and implementing the EU Biodiversity Strategy
Amendment 22 #
Proposal for a regulation Recital 9 (9) The InvestEU Programme should contribute to building a sustainable finance system in the Union which supports the reorientation of private capital towards sustainable investments in accordance with the objectives set out in the communication of the Commission of 8 March 2018 ‘Action Plan: Financing Sustainable Growth’ and the communication of the Commission of 14 January 2020 on the European Green Deal Investment Plan. Operations supported by the InvestEU Programme should therefore follow, as applicable, the criteria set out in Regulation (EU) 2020/852, including the 'do no significant harm' principle.
Amendment 220 #
Proposal for a regulation Annex III – point 8 – point 8.1 8.1 Number and volume of operations contributing to the provision of critical infrastructure, broken down by physical infrastructure, including green infrastructure and green belts and the associated goods and services, where applicable
Amendment 221 #
Proposal for a regulation Annex III – point 8 – point 8.2 a (new) Amendment 222 #
Proposal for a regulation Annex V – part 1 – paragraph 2 – point 1 – paragraph 1 – point a (a) Have the nature of a public good for which the operator or company cannot capture sufficient financial benefits (such as education and skills, healthcare and accessibility
Amendment 223 #
Proposal for a regulation Annex V – part 1 – paragraph 2 – point 1 – paragraph 1 – point e (e) Exposure to higher levels of risks in certain sectors, countries or regions beyond levels that private financial actors are able or willing to accept, including where the investment would not have been undertaken or would not have been undertaken to the same extent because of its novelty, e.g. nature-based-solution projects or because of risks associated
Amendment 224 #
Proposal for a regulation Annex V – part 1 – paragraph 2 – point 1 – paragraph 1 – point f (f) In the case of support to financing and investment operations under the strategic European investment window, the investment would not have been undertaken or would not have been undertaken
Amendment 225 #
Proposal for a regulation Annex V – part 1 – paragraph 2 – point 2 – paragraph 1 – point 3 (3) Financing and investment operations under the strategic European investment window may also be considered additional whenever these operations would not have been carried out
Amendment 226 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 7 (7) Activities involving live animals for experimental and scientific purposes insofar as compliance with the European Convention for the Protection of Vertebrate Animals used for Experimental and other Scientific Purposes60 cannot be guaranteed, and for entertainment _________________ 60 OJ L 222, 24.8.1999, p. 31.
Amendment 227 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 11 Amendment 228 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 11 a (new) (11 a) Operation, adaptation, conversion to or construction of biomass power plants fuelled by wood, feed or food material
Amendment 229 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – introductory part (12) Investments related to
Amendment 23 #
Proposal for a regulation Recital 10 Amendment 230 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – introductory part (12) Investments related to mining or to the extraction, processing, distribution, storage or combustion of solid fossil fuels and oil
Amendment 231 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – introductory part (12) Investments related to mining
Amendment 232 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point a Amendment 233 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point a Amendment 234 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point b Amendment 235 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point c Amendment 236 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point c (c) projects equipped with carbon capture and storage or carbon capture and utilisation installations; industrial or research projects that lead to
Amendment 237 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 a (new) (12 a) Investments related to the decommissioning, operation, adaptation, construction or lifetime extension of nuclear power stations, or to the management or storage of nuclear waste.
Amendment 238 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 15 – point b (b) existing plants, where the investment is for the purpose of increasing energy efficiency, capturing exhaust gases for storage or use or recovering materials from incineration ashes
Amendment 239 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 15 a (new) (15 a) Investment in capacity expansion of airport and motorway infrastructure;
Amendment 24 #
Proposal for a regulation Recital 10 (10) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement on Climate Change and the SDGs, the InvestEU Programme will contribute to mainstream climate and environmental actions and to the achievement of an overall target of 25 % of the Union budget expenditures supporting climate objectives and an annual target of 30 % as soon as possible and at the latest by 2027. Actions under the InvestEU Programme are expected to contribute
Amendment 25 #
Proposal for a regulation Recital 10 (10)
Amendment 26 #
Proposal for a regulation Recital 10 (10) Reflecting the importance of tackling climate change in line with the Union's
Amendment 27 #
Proposal for a regulation Recital 10 (10) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement on Climate Change and the SDGs, the InvestEU Programme will contribute to mainstream climate actions and to the achievement of an overall target of
Amendment 28 #
Proposal for a regulation Recital 10 (10) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement on Climate Change and the SDGs, the InvestEU Programme will contribute to mainstream climate actions and to the achievement of an overall target of
Amendment 29 #
Proposal for a regulation Recital 10 (10) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement on Climate Change and the SDGs, the InvestEU Programme will contribute to mainstream climate actions and to the achievement of an overall target of
Amendment 3 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of strategic industries on non-diversified external supply sources. Such vulnerabilities need to be addressed, to improve the Union’s emergency response as well as the resilience of the entire economy, while maintaining its openness to fair competition and fair trade in line with its rules. Investment activity is expected to
Amendment 30 #
Proposal for a regulation Recital 10 a (new) (10 a) Climate change is a global challenge that requires international cooperation and similar efforts from third countries, especially G20 parties. In order for the Union to successfully play its role as a global leader in the transition towards climate neutrality, a realistic approach which actually fosters sustainable, competitive, and inclusive growth and prosperity is essential.
Amendment 31 #
Proposal for a regulation Recital 10 b (new) (10 b) Nuclear energy plays an important role in meeting the objective of climate neutrality at Union level by 2050, as the second largest source of low-carbon electricity production globally. Without investment in nuclear technology, the low carbon transition will become significantly more difficult and onerously expensive to achieve.
Amendment 32 #
Proposal for a regulation Recital 11 Amendment 33 #
Proposal for a regulation Recital 11 (11) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through a Union
Amendment 34 #
Proposal for a regulation Recital 11 (11) The contribution of the InvestEU Fund to the achievement of the climate
Amendment 35 #
Proposal for a regulation Recital 11 (11) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through a Union climate tracking system to be developed by the Commission in cooperation with potential implementing partners, appropriately using the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment25 ] for determining whether an economic activity is environmentally sustainable. These criteria should not be to the detriment of nuclear energy and important low-carbon bridging technologies such as natural gas and carbon capture and storage. The InvestEU Programme should also contribute to the implementation of other dimensions of the SDGs. _________________ 25 COM(2018)353.
Amendment 36 #
Proposal for a regulation Recital 11 a (new) (11 a) The digital transformation, technological neutrality and innovation, and research and development are the principal drivers for achieving climate- neutrality.
Amendment 37 #
Proposal for a regulation Recital 12 (12) According to the 2018, 2019 and 2020 Global Risks Reports1a issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment.
Amendment 38 #
Proposal for a regulation Recital 12 (12) According to the 2018 Global Risks Report issued by the World Economic
Amendment 39 #
Proposal for a regulation Recital 12 (12) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include the pollution of air, soil, inland waters and oceans, extreme weather events, biodiversity losses and failures of climate- change mitigation and adaptation. Environmental principles are strongly embedded in the Treaties and many of the Union's policies. Therefore, the mainstreaming of environmental objectives should be promoted in operations related to the InvestEU Fund. Environmental protection and the prevention and management of related risks should be integrated in the preparation and implementation of investments. The Union should also track its biodiversity-related and air pollution control-related expenditures in order to fulfil the reporting obligations under the Convention on Biological Diversity26 and under Directive (EU) 2016/2284 of the European Parliament and of the Council27 . Invest
Amendment 4 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of
Amendment 40 #
Proposal for a regulation Recital 13 (13) Investment projects that receive substantial Union support, in particular in the area of infrastructure, should be screened by the implementing partner to determine whether they have an environmental, climate or social impact. Investment projects that have such an impact should be subject to sustainability proofing in accordance with guidance that should be developed by the Commission in close cooperation with potential implementing partners under the InvestEU Programme.
Amendment 41 #
Proposal for a regulation Recital 13 (13) Investment projects that receive substantial Union support, in particular in the area of infrastructure, should be screened by the implementing partner to determine whether they have an environmental, climate or social impact. Investment projects that have such an impact should be subject to sustainability proofing in accordance with guidance that should be developed by the Commission in close cooperation with potential implementing partners under the InvestEU Programme.
Amendment 42 #
Proposal for a regulation Recital 13 (13) Investment projects that receive substantial Union support, in particular in the area of infrastructure, should be screened by the implementing partner to determine whether they have an environmental, climate or social impact. Investment projects that have such an impact should be subject to sustainability proofing in accordance with guidance that should be developed by the Commission in close cooperation with potential implementing partners under the InvestEU Programme so as to prevent any significant damage to the environment. This guidance should appropriately use the criteria established by [Regulation on establishment of a framework to facilitate sustainable investment] for determining whether an economic activity is environmentally sustainable
Amendment 43 #
Proposal for a regulation Recital 13 (13) Investment projects that receive substantial Union support, in particular in the area of infrastructure, should be screened by the implementing partner to determine whether they have an environmental, climate or social impact. Investment projects that have such an impact should be subject to sustainability proofing in accordance with guidance that should be developed by the Commission in close cooperation with potential implementing partners under the InvestEU Programme. This guidance should appropriately use the criteria established by [Regulation on establishment of a framework to facilitate sustainable investment] for determining whether an economic activity is environmentally sustainable and consistent with the guidance developed for other programmes of the Union. Consistent with the principle of proportionality, such guidance should include adequate provisions for avoiding undue administrative burdens, and projects below a certain size as to be defined in the
Amendment 44 #
Proposal for a regulation Recital 13 (13) Investment projects that receive substantial Union support, in particular in the area of infrastructure, should be screened by the implementing partner to determine whether they have an environmental, climate or social impact. Investment projects that have such an impact should be subject to sustainability proofing in accordance with guidance that should be developed by the Commission in close cooperation with potential implementing partners under the InvestEU Programme. This guidance should
Amendment 45 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, job creations, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long- term. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets as defined in the European Green Deal, including the Union’s commitments towards the SDGs
Amendment 46 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, climate neutrality, competitiveness and convergence. It also creates risk of
Amendment 47 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the SDGs,
Amendment 48 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the SDGs, and the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy sources and other safe and sustainable low- emission energy sources, environmental infrastructure, infrastructure related to
Amendment 49 #
Proposal for a regulation Recital 15 (15)
Amendment 5 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy.
Amendment 50 #
Proposal for a regulation Recital 15 a (new) (15 a) The InvestEU Programme should contribute to the Union's climate objectives laid down in [Regulation (EU) 2020/XXX establishing the framework for achieving climate neutrality and amending Regulation (EU) 2018/1999 ("European Climate Law")] and should not finance projets that are inconsistent with the achievement of the Union's climate objectives.
Amendment 51 #
Proposal for a regulation Recital 18 (18) Although the level of overall investment in the Union was increasing before the Covid-19 crisis, investment in higher-risk activities such as research and innovation was still inadequate and is now expected to have suffered a significant hit with the crisis. The resulting underinvestment in research and innovation is damaging to the industrial and economic competitiveness of the Union and the quality of life of its citizens. The InvestEU Fund should provide appropriate financial products to cover different stages of the innovation cycle and a wide range of stakeholders, in particular to allow the upscaling of and deployment of solutions at a commercial scale in the Union in order to make such solutions competitive on world markets and to promote Union excellence in sustainable, circular and low carbon technologies at a global level, in synergy with Horizon Europe, including the European Innovation Council. In that regard, the experience gained from the financial instruments, such as InnovFin – EU Finance for Innovators, deployed under Horizon 2020 to facilitate and accelerate access to finance for innovative businesses should serve as a strong basis to deliver this targeted support.
Amendment 52 #
Proposal for a regulation Recital 19 (19) Tourism is an important area for the Union economy
Amendment 53 #
Proposal for a regulation Recital 22 (22) As set out in the Commission's Reflection paper on the social dimension of Europe of 26 April 2017, the Communication on European Pillar of Social Rights, the Union framework for the UN Convention on the Rights of Persons with Disabilities and the Communication on ‘Strong Social Europe for Just Transitions’ of 14 January 2020, building a more inclusive and fair Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training, culture, employment, health and social services. Investment in the social, skills and human capital-related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if
Amendment 54 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically viable projects to crowd in private finance is particularly valuable and should be reinforced , inter alia in order to counteract the risk of an asymmetric recovery. The
Amendment 55 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically viable projects to crowd in private finance is particularly valuable and should be reinforced, inter alia in order to counteract the risk of an asymmetric recovery. The InvestEU Programme should be able to provide crucial support to companies in the recovery phase and at the same time ensure a strong focus of investors on the Union’s medium- and long-term policy priorities
Amendment 56 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically viable projects to crowd in private finance is particularly valuable and should be reinforced, inter alia in order to counteract the risk of an asymmetric recovery. The InvestEU Programme should be able to provide crucial support to companies in the recovery phase, in particular SMEs, and at the same time ensure a strong focus of investors on the Union’s medium- and long-term policy priorities such as the European Green Deal, the European Green Deal Investment Plan, the Strategy on shaping Europe’s digital future and the Strong Social Europe for Just Transitions. It should significantly increase the risk- taking capacity of the European Investment Bank (EIB) Group and national promotional banks and institutions and other implementing partners in support of
Amendment 57 #
Proposal for a regulation Recital 24 a (new) (24 a) Stresses that InvestEU should be consistent and fully aligned with the Union’s commitments and priorities, but notes that the COVID-19 pandemic has radically altered public and private finances, which will require the Commission to comprehensively re- examine its political priorities, in order to minimise administrative and regulatory burdens and enable all necessary measures to be taken in support of businesses and industry at European and national level.
Amendment 58 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions but which also enhance the competitiveness of the Member States' economies, including the need to rebuild the Member States' productive capacity and create future- oriented investments promoting entrepreneurship and job creation, and of enhanced resilience, in
Amendment 59 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the
Amendment 6 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of strategic industries on non-diversified external supply sources. Such vulnerabilities need to be addressed, to improve the Union’s emergency response as well as the resilience of the entire economy
Amendment 60 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the
Amendment 61 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions and of enhanced resilience in areas of (i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity and of the civil protection system, (ii) critical infrastructure, whether physical or virtual; (iii) provision of goods and services instrumental to the operation and maintenance of such infrastructure, (iv) key enabling, transformative, green and digital technologies and game-changing innovations where the investment is strategically important for the Union’s industrial future, including artificial intelligence, blockchain, software, robotics, semiconductors, microprocessors, edge cloud technologies, high-performance computing, cybersecurity, quantum technologies, photonics, industrial biotechnology, renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies, clean hydrogen and fuel cell applications, decarbonisation technologies for industry, carbon capture and storage, circular economy technologies biomedicine, nanotechnologies, pharmaceuticals and advanced materials; (v) manufacturing facilities for mass production of Information Communication and Technology components and devices in the EU; (vi) supply and stockpiling of critical inputs to public actors, businesses
Amendment 62 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions and of enhanced resilience in areas of (i) activities contributing to the environmental objectives in line with the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle; (ii) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity and of the civil protection system, (iii) critical infrastructure, whether physical or virtual;
Amendment 63 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions and of enhanced resilience in areas of (i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity and of the civil protection system, (ii) critical infrastructure, whether physical or virtual; (iii) provision of goods and services instrumental to the operation and maintenance of such infrastructure, (iv) key enabling, transformative, green and digital technologies and game-changing innovations where the investment is strategically important for the Union’s industrial future, including artificial intelligence, blockchain, software, robotics, semiconductors, microprocessors, edge cloud technologies, high-performance computing, cybersecurity, quantum technologies, photonics, industrial biotechnology, renewable energy technologies, nuclear energy, energy storage technologies including batteries, sustainable transport technologies, clean hydrogen and fuel cell applications, decarbonisation technologies for industry, carbon capture and storage, circular economy technologies biomedicine, nanotechnologies,
Amendment 64 #
Proposal for a regulation Recital 28 a (new) (28 a) The InvestEU Fund provided under the strategic European investment window should support infrastructure with a view to strengthening the resilience of healthcare and health systems in preparation for future pandemics, including the performance of stress tests of national and regional healthcare systems, improve the health status in societies, have healthier people therefore less susceptible to health threats and boost the creation of the European health Union.
Amendment 65 #
Proposal for a regulation Recital 28 b (new) (28 b) The European Council, in its Conclusions of 12 December 2019 , has agreed on the objective of achieving a climate-neutral Union by 2050, in line with the objectives of the Paris Agreement, while also recognising that it is necessary to put in place an enabling framework and that the transition will require significant public and private investment. The InvestEU fund provided under the strategic European investment window should support critical sustainable infrastructure in the sectors which has submitted a roadmap to the Commission setting out how and by which date the sector can reduce its emissions to close to zero, and identifying obstacles and opportunities as well as the technological solutions that would need to be developed and investments that would need to be made within the sector.
Amendment 66 #
Proposal for a regulation Recital 29 (29) The strategic European investment window should also target suppliers established and operating in the Union whose activities are of strategic importance to the Union and that would need long term investment or are covered by the Foreign Direct Investment Screening mechanism. In addition, important projects of common European interest should in particular be able to benefit from the strategic European investment window. However, financial support should not be provided when a project is not in line with the strategic and economic interests of the Union, for instance for projects that would increase dependency on vulnerable or undiversified supply chains.
Amendment 67 #
Proposal for a regulation Recital 29 (29) The strategic European investment window should also target suppliers established and operating in the Union whose activities are of strategic importance to the Union and that would need long term investment or are covered by the Foreign Direct Investment Screening mechanism. In addition, important projects of common European interest should in particular be able to benefit from the strategic European investment window. However, financial support should not be provided when a project is inconsistent with the achievement of the European Green Deal, the Union's climate objectives and the Paris agreement objectives.
Amendment 68 #
Proposal for a regulation Recital 29 (29) The strategic European investment window should also target suppliers established and operating in the Union whose activities are of strategic importance to the Union and adhere to the 'do no significant harm' principle, and that would need long term investment or are covered by the Foreign Direct Investment Screening mechanism. In addition, important projects of common European interest should in particular be able to benefit from the strategic European investment window.
Amendment 69 #
Proposal for a regulation Recital 29 a (new) (29 a) The visibility of the Union funding from the InvestEU Fund, and in particular the strategic European investment window and its identified strategic priorities, should be ensured through effective communication, highlighting Union-funded actions and results in order to adequately promote the Union added value of the InvestEU Programme as part of the recovery.
Amendment 7 #
Proposal for a regulation Recital 1 (1) The C
Amendment 70 #
Proposal for a regulation Recital 30 (30) The InvestEU should also provide support to financing to generate investment to the benefit of just transition regions, in line with the objectives identified in their just transition plans, and should be consistent with Article 5 of Regulation (EU) …/… (JTF Regulation).
Amendment 71 #
Proposal for a regulation Recital 34 (34) In order to be able to channel support to the European economy through the European Investment Fund (EIF), the Commission should be in a position to participate in one or more possible capital increases of the EIF in order to allow it to continue supporting the European economy and its green recovery. The Union should be able to maintain its overall share in the EIF capital, with due consideration of the financial implications. A sufficient financial envelope to this effect should be foreseen in the Multiannual Financial Framework for 2021-2027.
Amendment 72 #
Proposal for a regulation Recital 35 (35) The Commission should seek the views of other potential implementing partners and other stakeholders including local authorities and civil society, along with the EIB Group on investment guidelines, the climate tracking system, the sustainability proofing guidance documents and common methodologies,
Amendment 73 #
Proposal for a regulation Recital 35 (35) The Commission should seek the views of other potential implementing partners along with the EIB Group, as well as other stakeholders including local authorities and civil society, on investment guidelines, the climate and environment tracking system, the sustainability proofing guidance documents and common methodologies, as appropriate, with a view to ensuring inclusiveness and operationality until the governance bodies have been set up, after which the
Amendment 74 #
Proposal for a regulation Recital 35 (35) The Commission should seek the views of other potential implementing partners along with the EIB Group on investment guidelines, the climate and biodiversity tracking systems, the sustainability proofing guidance documents and common methodologies, as appropriate, with a view to ensuring inclusiveness and operationality until the governance bodies have been set up, after which the involvement of implementing partners should take place within the framework of the Advisory Board and the Steering Board of the InvestEU Programme.
Amendment 75 #
Proposal for a regulation Recital 40 (40) The EU guarantee underpinning the InvestEU Fund should be implemented
Amendment 76 #
Proposal for a regulation Recital 41 (41) The InvestEU Fund should be provided with a governance structure, the function of which should be commensurate with its sole purpose of ensuring the appropriate use of the EU guarantee
Amendment 77 #
Proposal for a regulation Recital 44 (44) A Steering Board composed of representatives of the Commission and of the Member States, representatives of implementing partners and one non-voting expert appointed by the European Parliament should determine the strategic and operational guidance for the InvestEU Fund.
Amendment 78 #
Proposal for a regulation Recital 45 (45) The Commission should assess the compatibility of investment and financing operations submitted by the implementing partners with all Union law and policies, particularly the 'do no significant harm' principle laid down in Regulation (EU) 2020/852. The decisions on financing and investment operations should ultimately be taken by an implementing partner.
Amendment 79 #
Proposal for a regulation Recital 46 (46) An Investment Committee composed of independent experts should conclude on the granting of the support from the EU guarantee to financing and investment operations fulfilling the eligibility criteria, particularly the 'do no significant harm' principle, thereby providing external expertise in investment assessments in relation to projects. The investment committee should have different configurations to cover different policy areas and sectors in the best way possible.
Amendment 8 #
Proposal for a regulation Recital 1 a (new) (1 a) The disruptive economic and social effect of the COVID-19 crisis weakens public and private investment capacity thus limiting the financial resources essential for the transition to a climate neutral and resource efficient Union. In this regard, in the framework of Next Generation EU, InvestEU should contribute to reducing this gap.
Amendment 80 #
Proposal for a regulation Recital 49 (49) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterparty's ability to fulfil the objectives of the InvestEU Fund and to contribute its own resources, in order to ensure adequate geographical coverage and diversification, to crowd in private investors and to provide sufficient risk diversification and solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the EIB Group should remain a privileged implementing partner under the InvestEU Fund's EU compartment. In addition to the EIB Group, national promotional banks or institutions should be able to offer a complementary financial product range, given that their experience and capabilities at national and regional level could be beneficial for the maximisation of the impact of public funds on the whole territory of the Union, and for ensuring a fair geographical balance of projects. The InvestEU Programme should be implemented in such a way as to promote a level playing field for smaller and younger promotional banks and institutions.
Amendment 81 #
Proposal for a regulation Recital 53 (53) Where appropriate, the InvestEU Fund should allow for the smooth, seamless and efficient blending of grants, financial instruments or both, funded by the Union budget or by other funds, such as the EU emissions trading system (ETS) Innovation Fund with the EU guarantee in situations where this is necessary to best underpin investments to address particular market failures or sub-optimal investment situations, as is the case of biodiversity related or nature-based investments.
Amendment 82 #
Proposal for a regulation Recital 55 (55) The InvestEU Advisory Hub should support the development of a robust pipeline of investment projects in each policy window through advisory initiatives and local level project nurseries bringing together innovators, project promoters and financers that are implemented by the EIB Group or other advisory partners, or are implemented directly by the Commission. The InvestEU Advisory Hub should promote geographic diversification with a view to contributing to the Union objectives of climate neutrality, the European Green Deal, economic, social, and territorial cohesion and reducing regional disparities. The InvestEU Advisory Hub should pay particular attention to the aggregation of small-sized projects into larger portfolios. The Commission, the EIB Group and the other advisory partners should cooperate closely with a view to
Amendment 83 #
Proposal for a regulation Recital 57 (57) In order to ensure a wide geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the InvestEU Fund, a local presence of the InvestEU Advisory Hub should be ensured, where needed, taking into account existing support schemes and the presence
Amendment 84 #
Proposal for a regulation Recital 59 (59) In the context of the InvestEU Fund, there is a need to provide support for project development and capacity building to develop the organisational capacities and market development activities needed to originate quality projects. Such support should also target financial intermediaries that are key to help small companies’ access financing and realise their full potential, and it should include technical assistance. Particular emphasis should be put on reducing the administrative burden, in particular for SMEs. Moreover, the aim of the advisory support is to create the conditions for the expansion of the potential number of eligible recipients in nascent market segments, in particular where the small size of individual projects considerably raises the transaction cost at the project level, such as for the social finance ecosystem, including philanthropic organisations, or for the cultural and creative sectors. The capacity- building support should be
Amendment 85 #
Proposal for a regulation Recital 60 (60) The InvestEU Portal should be established to provide for an easily accessible and user-friendly project database and a public EU sustainability data register to promote visibility of investment projects searching for financing with enhanced focus on the provision of a possible pipeline of investment projects, compatible with Union law and policies, to the implementing partners.
Amendment 86 #
Proposal for a regulation Recital 61 (61) In accordance with Regulation [European Union Recovery Instrument] and within the limits of resources allocated
Amendment 87 #
Proposal for a regulation Recital 62 (62) Pursuant to paragraphs 22 and 23 of the Interinstitutional agreement for Better Law-Making of 13 April 201635 , there is a need to evaluate the InvestEU Programme on the basis of information collected through specific monitoring requirements, while avoiding overregulation and administrative burdens, in particular on Member States. These requirements
Amendment 88 #
(66) In accordance with the Financial Regulation, Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council36 , Council Regulation (Euratom, EC) No 2988/9537 , Council Regulation (Euratom, EC) No 2185/9638 and Council Regulation (EU) 2017/193939 , the financial interests of the Union are to be protected through proportionate measures, including the prevention, detection, correction and investigation of irregularities, including fraud, the recovery of funds lost, wrongly paid or incorrectly used and, where appropriate, the imposition of administrative sanctions. In particular, in accordance with Regulation (EU, Euratom) No 883/2013 and Regulation (Euratom, EC) No 2185/96 the European Anti-Fraud Office (OLAF) may carry out administrative investigations, including on-the-spot checks and inspections, with a view to establishing whether there has been fraud, corruption or any other illegal activity affecting the financial interests of the Union. In accordance with
Amendment 89 #
Proposal for a regulation Recital 70 (70) The InvestEU Programme should address Union-wide and Member State specific market failures and sub-optimal
Amendment 9 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable and inclusive growth and jobs, such as 'Europe 2020 - A strategy for smart, sustainable and inclusive growth' of 3 March 2010, 'Action Plan on Building a
Amendment 90 #
Proposal for a regulation Article 2 – paragraph 1 – point 9 (9) 'contribution agreement' means a legal instrument whereby the Commission and one or more Member States specify the conditions of the EU guarantee under the Member State compartment and under a national transition plan that ensure that investments comply and significantly contribute to climate and other environmental objectives in line with the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle, as laid down in Article 9;
Amendment 91 #
Proposal for a regulation Article 2 – paragraph 1 – point 12 (12) 'funds under shared management' means funds that provide for the possibility of allocating a portion of those funds to the provisioning for a budgetary guarantee
Amendment 92 #
Proposal for a regulation Article 2 – paragraph 1 – point 21 (21) ‘investment guidelines’ means the guidelines established by a delegated act referred to in Article 7(7), and which specify how to comply and significantly contribute to climate and other environmental objectives in line with the EU taxonomy established by Regulation (EU) 2020/852 and the 'do no significant harm' principle;
Amendment 93 #
Proposal for a regulation Article 2 – paragraph 1 – point 28 a (new) (28 a) "'do no significant harm' principle" means refraining from causing significant harm to environmental objectives as defined in Article 17 of Regulation (EU) 2020/852 of the European Parliament and of the Council1a. _________________ 1aRegulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (OJ L 198, 22.6.2020, p. 13).
Amendment 94 #
Proposal for a regulation Article 2 – paragraph 1 – point 28 b (new) (28 b) 'Union climate and environment objectives' means the Union's climate objectives set out in Regulation (EU) 2020/… [European Climate Law] and the Union's environment objectives set out in the latest available Environmental Action Programme;
Amendment 95 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) growth and employment in the
Amendment 96 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) growth and employment in the Union economy, the sustainability of the Union economy and its environmental
Amendment 97 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b)
Amendment 98 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) growth and employment in the Union economy, the sustainability of the Union economy and its environmental and climate
Amendment 99 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable and inclusive recovery of the Union economy after the crisis caused by the Covid-19 pandemic and its transformation towards a climate- neutral, environmentally sustainable, energy- and resource-efficient and circular economy by 2040 at the latest, upholding and strengthening its strategic value chains and maintaining and reinforcing activities of strategic importance to the Union in relation to critical infrastructure, transformative technologies, game-changing innovations and inputs to businesses and consumers with a view to achieve sustainable development within the Union.
source: 655.961
2020/09/09
TRAN
133 amendments...
Amendment 100 #
6 a. The contribution of the InvestEU Fund to the achievement of the Union objectives on climate and environment will be tracked using the criteria laid out in Regulation (EU) 2020/852 1n; _________________ 1nRegulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (OJ L 198, 22.6.2020, p. 13).
Amendment 101 #
Proposal for a regulation Article 7 – paragraph 6 a (new) 6 a. The contribution of the InvestEU fund to the achievements of the Union objectives on climate and environment will be tracked using the criteria laid out in the Regulation (EU) 2020/8521a ; _________________ 1aRegulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (OJ L 198, 22.6.2020, p. 13).
Amendment 102 #
Proposal for a regulation Article 7 – paragraph 8 8. For financing and investment operations under the strategic European investment window in
Amendment 103 #
Proposal for a regulation Article 8 – paragraph 1 – point b (b) the Member State compartment shall address specific market failures or sub-optimal investment situations in one or several regions or Member States to deliver the policy objectives of the contributing funds under shared management or of the additional amount provided by a Member State under the third subparagraph of Article 4(1), in particular to strengthen economic, social and territorial cohesion in the Union by addressing imbalances between its regions, in particular in the outermost regions.
Amendment 104 #
Proposal for a regulation Article 10 – paragraph 5 a (new) 5 a. The EIB shall without delay bring its transport lending policy fully in line with the European Green Deal in general, and the EU climate objectives in particular.
Amendment 105 #
Proposal for a regulation Article 12 – paragraph 4 4.
Amendment 106 #
Proposal for a regulation Article 12 – paragraph 5 5. The remaining
Amendment 107 #
Proposal for a regulation Article 12 – paragraph 6 6. Best efforts shall be made to ensure that, at the end of the investment period, a wide range of sectors and regions, such as the outermost regions, are covered and excessive sectoral or geographical concentration is avoided. Those efforts shall include incentives for smaller or less sophisticated NPBIs that have a comparative advantage due to their local presence, knowledge and investment competencies. The Commission shall develop a coherent approach to support these efforts.
Amendment 108 #
Proposal for a regulation Article 21 – paragraph 3 – point b (b) how the proposed operation contributes to EU policy objectives, in particular its contribution to EU’s 2030 biodiversity, climate and energy targets and to the transition towards climate neutrality by 2040;
Amendment 109 #
Proposal for a regulation Article 24 – paragraph 2 – point c (c) where appropriate, assist project promoters in developing their projects so that they fulfil the objectives set out in Articles 3 and 7 and the eligibility criteria set out in Article 13, and facilitate the development of Important Projects of Common European Interest in compliance with the Union’s climate and environmental goals, with specific consideration of Regulation (EU) 2020/852 1m , and increased transparency in their implementation and aggregators for small-sized projects, including through investment platforms as referred to in point (f) of this paragraph, provided that such assistance does not prejudge the conclusions of the Investment Committee with respect to the coverage of the EU guarantee with respect to such projects; _________________ 1m Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (OJ L 198, 22.6.2020, p. 13).
Amendment 110 #
Proposal for a regulation Article 24 – paragraph 7 7. The InvestEU Advisory Hub shall have local presence where necessary. Local presence shall be established in particular in Member States or regions, such as the outermost regions, that face difficulties in developing projects under the InvestEU Fund. The InvestEU Advisory Hub shall assist in the transfer of knowledge to the regional and local level with a view to building up regional and local capacity and expertise to be able to provide advisory support referred to in paragraph 1, including support to implement and accommodate small-sized projects.
Amendment 111 #
Proposal for a regulation Article 27 – paragraph 3 3. The Commission shall report on the implementation of the InvestEU Programme in accordance with Articles 241 and 250 of the Financial Regulation. In accordance with Article 41(5) of the Financial Regulation, the annual report shall provide information on the level of implementation of the Programme with respect to its objectives and performance indicators. For that purpose, each implementing partners shall provide on an annual basis the information necessary to allow the Commission to comply with its reporting obligations, including information on the operation of the EU guarantee. The performance reporting system provides real-time insights into the management and implementation of the InvestEU-program and is accessible for every EU citizen. This guarantees transparency of the resources spent and enhances accountability.
Amendment 112 #
Proposal for a regulation Article 31 – paragraph 1 – introductory part 1. Implementing partners and advisory partners shall acknowledge the origin and ensure the visibility of the Union funding (in particular when promoting the actions and their results), by providing coherent, effective and targeted information to multiple audiences, including the media
Amendment 113 #
Proposal for a regulation Article 31 – paragraph 1 – introductory part 1. Implementing partners and advisory partners shall acknowledge the origin and ensure the visibility of the Union funding (in particular when promoting the actions and their results), by providing coherent, effective, correct and targeted information to multiple audiences, including the media and the public.
Amendment 114 #
Proposal for a regulation Article 31 – paragraph 1 – subparagraph 1 The application of the requirements under the first subparagraph to projects in the
Amendment 115 #
Proposal for a regulation Annex I – paragraph 1 – point a (a) up to EUR
Amendment 116 #
Proposal for a regulation Annex I – paragraph 1 – point e (e) up to EUR
Amendment 117 #
Proposal for a regulation Annex II – paragraph 1 The financing and investment operations under other windows than the strategic European investment window
Amendment 118 #
Proposal for a regulation Annex II – point 1 – point e (e) the production and supply of sustainable synthetic fuels from renewable
Amendment 119 #
Proposal for a regulation Annex II – point 2 – introductory part 2. The development of sustainable and safe transport infrastructures and mobility solutions, equipment and innovative technologies in accordance with Union transport priorities and fully compatible with the commitments taken under the Paris Agreement on Climate Change
Amendment 120 #
Proposal for a regulation Annex II – point 2 – point a (a) projects that support the development of the trans-European transport network (TEN-T) infrastructure,
Amendment 121 #
Proposal for a regulation Annex II – point 2 – point c (c) smart and sustainable urban mobility projects that target
Amendment 122 #
Proposal for a regulation Annex II – point 2 – point d (d) supporting the renewal and retrofitting of transport mobile assets with the view of deploying
Amendment 123 #
Proposal for a regulation Annex II – point 2 – point f a (new) (f a) inter-urban cycling infrastructure, with particular focus on ensuring safe cross-border connections and thereby developing the creation of transnational cycling axis within a European wide network;
Amendment 124 #
Proposal for a regulation Annex II – point 2 – point g – point iii (iii) emission reduction with a clear pathway to zero emissions by 2040; or
Amendment 125 #
Proposal for a regulation Annex II – point 2 – point h (h) projects to maintain or upgrade existing transport infrastructure, including motorways on the TEN-T only where necessary to upgrade, maintain or improve road safety, to develop Intelligent Transport Systems (ITS) services or to guarantee infrastructure integrity and standards, to develop safe parking areas and facilities, recharging and refuelling stations for alternative fuels.
Amendment 126 #
Proposal for a regulation Annex II – point 4 4. The development of digital connectivity infrastructure, in particular through projects that support the
Amendment 127 #
Proposal for a regulation Annex II – point 4 4. The development of digital connectivity infrastructure, in particular through projects that support the deployment of very high capacity digital networks,
Amendment 128 #
Proposal for a regulation Annex II – point 6 – point a (a) ethical artificial intelligence;
Amendment 129 #
Proposal for a regulation Annex II – point 9 9.
Amendment 130 #
Proposal for a regulation Annex II – point 9 9.
Amendment 131 #
Proposal for a regulation Annex II – point 9 9.
Amendment 132 #
Proposal for a regulation Annex II – point 9 9.
Amendment 133 #
Proposal for a regulation Annex II – point 13 Amendment 134 #
Proposal for a regulation Annex III – point 8 – point 8.1 8.1 Number and volume of operations contributing to the provision of critical infrastructure, broken down by physical infrastructure and the associated goods and services, where applicable; number and volume of operations contributing to the reduction of greenhouse gas emissions to a net-zero economy in accordance with the European climate targets
Amendment 135 #
Proposal for a regulation Annex III – point 8 – point 8.3 8.3 Number and volume of operations contributing to the development of critical technologies and inputs for the security of the Union and its Member States
Amendment 136 #
Proposal for a regulation Annex III – point 8 – point 8.4 8.4 Number of enterprises supported by
Amendment 137 #
Proposal for a regulation Annex V – part 1 – paragraph 2 – point 1 – paragraph 1 – point a (a) Have the nature of a public good for which the operator or company cannot capture sufficient financial benefits (such as education and skills, healthcare and accessibility,
Amendment 138 #
Proposal for a regulation Annex V – part 1 – paragraph 2 – point 1 – paragraph 1 – point f (f) In the case of support to financing and investment operations under the strategic European investment window, the investment would not have been undertaken or would not have been undertaken
Amendment 139 #
Proposal for a regulation Annex V – part 1 – paragraph 2 – point 2 – paragraph 1 – point 3 (3) Financing and investment operations under the strategic European investment window may also be considered additional whenever these operations would not have been carried out
Amendment 140 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 2 (2)
Amendment 141 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – introductory part (12) Investments related to
Amendment 142 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – introductory part (12) Investments related to mining or to the extraction, processing, distribution, storage or combustion of
Amendment 143 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point a Amendment 144 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point a Amendment 145 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point b Amendment 146 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point c Amendment 147 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 15 a (new) (15 a) Investment in airport infrastructure except for outermost regions;
Amendment 148 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 15 b (new) (15 b) Investment in capacity expansion of motorway infrastructure.
Amendment 16 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of strategic industries on non-diversified external supply sources. Such vulnerabilities need to be addressed, to improve the Union’s emergency response as well as the resilience of the entire economy, while maintaining its openness to competition and trade in line with its rules. Investment activity is expected to have dropped significantly. Even before the pandemic, while a recovery in investment-to-GDP ratios in the Union could be observed, it remained below what might be expected in a strong recovery and was insufficient to compensate for years of underinvestment following the 2009 crisis. More importantly, the current investment levels and forecasts do not cover the Union’s needs for structural investment to restart and sustain long-term growth in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium- sized enterprises (SMEs) and the need to address key societal challenges such as sustainability or population ageing. Consequently, in order to achieve the Union's policy objectives , especially under the Green Deal and to support a swift, inclusive and healthy economic recovery,
Amendment 17 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly, in particular with regard to the transport and tourism sectors. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of strategic industries on non-diversified external supply sources. Such vulnerabilities need to be addressed, to improve the Union’s emergency response as well as the resilience of the entire economy, while maintaining its openness to competition and trade in line with its rules, including the freedom to conduct business activity, as well as freedom of movement of persons and goods. Investment activity is expected to have dropped significantly. Even before the pandemic, while a recovery in investment- to-GDP ratios in the Union could be observed, it remained below what might be expected in a strong recovery and
Amendment 18 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. In some sectors, such as transport and tourism the shock was enormous and the contraction multiple times higher. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of strategic industries on non-diversified external supply sources. Such
Amendment 19 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU
Amendment 20 #
Proposal for a regulation Recital 2 (2) Evaluations have underlined that the variety of financial instruments delivered under the 2014-2020 Multiannual Financial Framework period has led to some overlaps in their scope. That variety has also produced complexity for intermediaries and final recipients who were confronted with different eligibility and reporting rules. The absence of compatible rules also hampered the combination of several Union funds, although such combinations would have been beneficial in order to support projects in need of different types of funding. Therefore, a single fund, the InvestEU Fund, which builds on the experience of the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe, should be set up in order to provide more efficiently functioning support to final recipients by integrating and simplifying the financing offered under a single budgetary guarantee scheme, thereby improving the impact of Union support while reducing the cost to the Union payable from the budget, but also at the bureaucratic level.
Amendment 21 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies and legislation to complete the Single Market and to stimulate sustainable and inclusive growth and jobs, such as 'Europe 2020 - A strategy for smart, sustainable and inclusive growth' of 3 March 2010, 'Action Plan on Building a
Amendment 22 #
Proposal for a regulation Recital 4 (4) At Union level, the European Semester of economic policy coordination is the framework to identify national reform priorities and monitor their implementation. Member States, where appropriate in cooperation with local and regional authorities, develop their own national multiannual investment strategies in support of those reform priorities. Those strategies should be presented alongside the yearly national reform programmes as a way of outlining and coordinating priority investment projects that are to be supported by national funding, Union funding, or both. Those strategies should also use Union funding in a coherent
Amendment 23 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence and cohesion of the Union, including in the fields of innovation and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises, taking into account divergencies in economic and infrastructural development between individual regions and Member States. To that end, the InvestEU Fund should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments backed up by a guarantee from the Union budget and by financial contributions from implementing partners as relevant. The InvestEU Fund should be demand-driven, while at the same time it should focus on providing strategic, long-term benefits in relation to key areas of Union policy which otherwise would not be funded or would be insufficiently funded, thereby contributing to meeting policy objectives of the Union, including cohesion policy. Support under the InvestEU Fund should cover a wide range of sectors and regions, but should avoid excessive sectoral or geographical concentration and should facilitate access of projects composed of partner entities in multiple regions across the EU, with particular focus on rural, mountainous, outermost and least accessible regions of the EU.
Amendment 24 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence and cohesion of the Union, including in the fields of innovation and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises. To that end, the InvestEU Fund should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments backed up by a guarantee from the Union budget and by financial contributions from implementing partners as relevant. The InvestEU Fund should be demand-driven, while at the same time it should focus on providing strategic, long-term benefits in relation to key areas of Union policy which otherwise would not be funded or would be insufficiently funded, thereby contributing to meeting policy objectives of the Union. Support under the InvestEU Fund should cover a wide range of sectors and regions, but should avoid excessive sectoral or geographical concentration and should facilitate access of projects composed of partner entities in multiple regions across the EU. Special attention should be given to the main sectors affected by the crisis caused by the pandemic of COVID-19, but also to the regions with difficulties that are due to their geographic location, such as the outermost, island and remote regions.
Amendment 25 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence and cohesion of the Union, including in the fields of innovation and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises. To that end, the InvestEU Fund should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments backed up by a guarantee from the Union budget and by financial contributions from implementing partners as relevant. The InvestEU Fund should be demand-driven, while at the same time it should focus on providing strategic, long-term benefits in relation to key areas of Union policy which otherwise would not be funded or would be insufficiently funded, thereby contributing to meeting policy objectives of the Union. Support under the InvestEU Fund should cover a wide range of sectors and regions, but should avoid excessive sectoral or geographical concentration and should facilitate access of projects composed of partner entities in multiple regions across
Amendment 26 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence and cohesion of the Union, including in the fields of innovation and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises. To that end, the InvestEU Fund should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments backed up by a guarantee from the Union budget and by financial contributions from implementing partners as relevant. The InvestEU Fund should be demand-driven, while at the same time it should focus on providing strategic, long-term benefits in relation to key areas of Union policy which otherwise would not be funded or would be insufficiently funded, thereby contributing to meeting policy objectives of the Union.
Amendment 27 #
Proposal for a regulation Recital 6 (6) The cultural, educational and creative sectors are key and fast growing sectors in the Union, generating both economic and cultural value from intellectual property and individual creativity. However, restrictions on social contacts put in place during the Covid-19 crisis had a significantly negative economic impact on these sectors. Moreover, the intangible nature of the assets in those sectors limits the access of SMEs and organisations from those sectors to private financing which is essential to be able to invest, scale up and compete at an international level. The InvestEU Programme should continue to facilitate access to finance for SMEs and organisations from the cultural, educational and creative sectors. The cultural, educational and creative, audiovisual and media sectors are essential for our cultural diversity and democracy in the digital age, and an intrinsic part of our sovereignty and autonomy, and strategic investments in audiovisual and media content and technology will determine the long-term capacity to produce and distribute content to wide audiences across national borders.
Amendment 28 #
Proposal for a regulation Recital 10 (10)
Amendment 29 #
Proposal for a regulation Recital 10 (10) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement on Climate Change and the SDGs, the InvestEU Programme will contribute to mainstream climate actions and to the achievement of an overall target of
Amendment 30 #
Proposal for a regulation Recital 10 (10) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement on Climate Change and the SDGs, the InvestEU Programme will contribute to mainstream climate actions and to the achievement of an overall target of
Amendment 31 #
Proposal for a regulation Recital 11 (11)
Amendment 32 #
Proposal for a regulation Recital 11 (11) The contribution of the InvestEU Fund to the achievement of the 2030 climate
Amendment 33 #
Proposal for a regulation Recital 13 (13) Investment projects that receive substantial Union support, in particular in the area of infrastructure, should be screened by the implementing partner to determine whether they have an environmental, climate or social impact. Investment projects that have such an impact should be subject to sustainability proofing in accordance with guidance that should be developed by the Commission in close cooperation with potential implementing partners under the InvestEU Programme. This guidance should appropriately use the criteria established by
Amendment 34 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable
Amendment 35 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in particular with regard to interconnection, interoperability and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the SDGs, and the
Amendment 36 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates
Amendment 37 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in particular with regard to interconnection, multimodality and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the SDGs, and the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy sources and other safe and sustainable low- emission energy sources, environmental infrastructure, infrastructure related to climate action, maritime infrastructure and digital infrastructure. The InvestEU Programme should prioritise areas that are under-invested, and in which additional investment is required. To maximise the impact and added value of Union financing support, it is appropriate to promote a streamlined investment process that enables visibility of the project pipeline
Amendment 38 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the SDGs, and the new 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy sources
Amendment 39 #
Proposal for a regulation Recital 16 (16) Genuine multimodality is an opportunity to create an efficient and environmentally friendly transport network that uses the maximum potential of all means of transport, with particular focus on rail transport, and generates synergy between them. The InvestEU Programme should support investments in multimodal transport hubs, which - in spite of their
Amendment 40 #
Proposal for a regulation Recital 19 (19) Tourism is an important area for the Union economy and the sector, which experienced a particularly severe contraction as a result of COVID-19 pandemic. The InvestEU Programme should contribute to strengthening its long- term competitiveness by s
Amendment 41 #
Proposal for a regulation Recital 19 (19) Tourism is an important area for the Union economy and the sector, which experienced a particularly severe contraction as a result of COVID-19 pandemic, with large-scale unemployment affecting, in particular, seasonal workers and those in vulnerable situations. The InvestEU Programme should contribute to strengthening its long-
Amendment 42 #
Proposal for a regulation Recital 19 (19) Tourism is an important area for the Union economy and the sector, which experienced a particularly severe contraction as a result of COVID-19 pandemic. For many European regions, tourism is of a strategic importance for the whole economy and acts as a multiplier for growth and employment. The InvestEU Programme should contribute to strengthening its
Amendment 43 #
Proposal for a regulation Recital 19 (19) Tourism is an important area for the Union economy and that of the Member States, and the sector, which experienced a particularly severe contraction as a result of COVID-19 pandemic. The InvestEU Programme should support its recovery and contribute to strengthening its long- term competitiveness by supporting operations promoting sustainable, innovative
Amendment 44 #
Proposal for a regulation Recital 19 (19) Tourism is an important area for the Union and for the development of the internal market, economy and the sector, which experienced a particularly severe contraction as a result of COVID-19 pandemic. The losses for the sector resulted not only in economic losses for agents and operators, but also in job losses. The economic development of many regions heavily dependent on the tourism sector, such as the outermost, coastal and island regions, has been severely affected. The InvestEU Programme
Amendment 45 #
Proposal for a regulation Recital 19 (19) Tourism is an important area for the Union economy and the sector, which experienced a particularly severe contraction as a result of COVID-19 pandemic, which is particularly noticeable for SMEs. The InvestEU Programme should contribute to strengthening its long- term competitiveness by supporting operations promoting sustainable, innovative and digital tourism, as well as agritourism.
Amendment 46 #
Proposal for a regulation Recital 20 (20) A significant effort is urgently needed to invest in and boost the digital transformation and to distribute the benefits of it to all Union citizens and businesses. The strong policy framework of the Digital Single Market Strategy should now be matched by investment of a similar ambition, including in ethical artificial intelligence in line with the Digital Europe programme.
Amendment 47 #
Proposal for a regulation Recital 22 (22) As set out in the Commission's Reflection paper on the social dimension of Europe of 26 April 2017, the Communication on European Pillar of Social Rights, the Union framework for the UN Convention on the Rights of Persons with Disabilities and the Communication on ‘Strong Social Europe for Just Transitions’ of 14 January 2020, building a more inclusive and fair Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training, culture, employment, health and social services. Investment in the social, skills and human capital-related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. The InvestEU Fund should be used to support investment in education and training, including the re- skilling and upskilling of workers, inter alia in regions depending on a carbon
Amendment 48 #
Proposal for a regulation Recital 25 (25) The Covid-19 pandemic is a major shock to the global and Union economy. The contraction in EU GDP is expected to be far deeper than during the financial crisis in 2009 and adverse social effects will be inevitable. The outbreak of the pandemic has shown the urgent need for strategic vulnerabilities to be addressed in a coordinated way, in order to improve the Union’s emergency response as well as the resilience of the entire economy. Only a resilient, inclusive and integrated European economy can preserve the well- functioning of the Single Market and the level playing
Amendment 49 #
Proposal for a regulation Recital 25 (25) The Covid-19 pandemic is a major shock to the global and Union economy. The contraction in EU GDP is expected to be far deeper than during the financial crisis in 2009 and adverse social effects will be inevitable. The outbreak of the pandemic has shown the need for strategic vulnerabilities to be addressed in order to improve the Union’s emergency response as well as the resilience of the entire economy. Only a resilient, inclusive and integrated European economy can preserve the Single Market from the danger of fragmentation and the level playing field also to the benefit of the hardest-hit Member States.
Amendment 50 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic
Amendment 51 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions and of enhanced resilience in areas of (i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity and of the civil protection system, (ii) critical infrastructure, whether physical or virtual, including the trans-European transport network (TEN-T), especially in cross- border sections; (iii) provision of goods and services instrumental to the operation and maintenance of such infrastructure, including financing and human resources in order to give solutions to bottlenecks in the TEN-T and to reduce the administrative burden in cross-border sections; (iv) key enabling, transformative, green and
Amendment 52 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions and of enhanced resilience in areas of (i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity and of the civil protection system, (ii) critical infrastructure, whether physical or virtual; (iii) provision of goods and services instrumental to the operation and maintenance of such infrastructure, (iv) key enabling, transformative, green and digital technologies and game-changing innovations where the investment is strategically important for the Union’s industrial future, including artificial intelligence, blockchain, software, robotics, semiconductors, microprocessors, edge cloud technologies, high-performance computing, cybersecurity, quantum technologies, photonics, industrial biotechnology, renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies,
Amendment 53 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions and of enhanced resilience in areas of (i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity and of the civil
Amendment 54 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions and of enhanced resilience in areas of (i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity and of the civil protection system, (ii) critical infrastructure, whether physical or virtual; (iii) provision of goods and services instrumental to the operation and maintenance of such infrastructure, (iv) key enabling, transformative, green and digital technologies and game-changing innovations where the investment is strategically important for the Union’s
Amendment 55 #
Proposal for a regulation Recital 29 (29) The strategic European investment window should also target suppliers established and operating in the Union whose activities are of strategic importance to the Union and that would need long term investment or are covered by the Foreign Direct Investment Screening mechanism. In addition, important projects of common European interest
Amendment 56 #
Proposal for a regulation Recital 29 a (new) (29 a) The addition of the strategic European investment window is necessary as a result of the global outbreak of Covid-19, and its impact on people's lives. It should foster sustainable economic recovery and increase resilience, while ensuring strict additionality of all investments supported through InvestEU.
Amendment 57 #
Proposal for a regulation Recital 35 (35) The Commission should seek the views of other potential implementing partners, including local and regional authorities, social partners and civil society along with the EIB Group on investment guidelines, the climate tracking
Amendment 58 #
Proposal for a regulation Recital 40 (40) The EU guarantee underpinning the InvestEU Fund should be implemented indirectly by the Commission relying on implementing partners with outreach to financial intermediaries, where applicable, and final recipients. The selection of the implementing partners should be transparent and free from any conflict of interest. The Commission should conclude a guarantee agreement allocating guarantee capacity from the InvestEU Fund with each implementing partner to support its financing and investment operations that meet the InvestEU Fund eligibility criteria and contribute to meeting its objectives. The management of the risk related to the EU guarantee should not hamper direct access to the EU guarantee by the implementing partners. Once the EU guarantee is granted under the EU compartment to implementing partners, they should be fully responsible for the whole investment process and the due diligence related to the financing or investment operations. The InvestEU Fund
Amendment 59 #
Proposal for a regulation Article 2 – paragraph 1 – point 15 (15) ‘Important Project of Common European Interest’ means a project that fulfils all the criteria laid down in Commission Communication on Criteria for the analysis of the compatibility with the internal market of State aid to promote the execution of important projects of common European interest (OJ C 188, 20.6.2014, p. 4) or any subsequent revision
Amendment 60 #
Proposal for a regulation Article 2 – paragraph 1 – point 28 a (new) (28 a) The ‘do no significant harm’ principle means refraining from inflicting ‘significant harm to environmental objectives’ as defined in Article17 of the Regulation (EU) 2020/852 (Taxonomy Regulation)
Amendment 61 #
Proposal for a regulation Article 3 – paragraph 1 – introductory part 1. The general objective of the InvestEU Programme is to support the policy objectives of the Union by means of financing and investment operations that
Amendment 62 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable and inclusive recovery of the Union economy after the crisis caused by the Covid-19 pandemic,
Amendment 63 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable and inclusive recovery of the Union economy after the crisis caused by the Covid-19 pandemic, upholding and strengthening the well- functioning of its strategic value chains and maintaining and reinforcing activities of strategic importance to the Union in relation to critical infrastructure - including the trans-European transport network-, transformative technologies, game-changing innovations and inputs to businesses and consumers.
Amendment 64 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable and inclusive recovery of the Union economy after the crisis caused by the Covid-19 pandemic, upholding and strengthening its strategic value chains and maintaining and reinforcing activities of strategic importance to the Union in relation to critical infrastructure, transformative technologies, game-changing innovations and inputs to businesses and consumers, especially in the sectors most affected by the crisis, such as tourism and transport.
Amendment 65 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable and inclusive recovery of the Union economy after the crisis caused by the Covid-19 pandemic, upholding and strengthening its strategic value chains and maintaining and reinforcing activities of strategic importance to the Union in relation to critical infrastructure, transformative technologies, game-changing innovations and inputs to businesses, especially for SMEs in the transport and tourism sector and consumers.
Amendment 66 #
Proposal for a regulation Article 3 – paragraph 1 – point g a (new) (g a) The crisis caused by the Covid-19 showed the necessity to strengthen and promote new objectives, like sustainable tourism and culture.
Amendment 67 #
Proposal for a regulation Article 3 – paragraph 2 – point e (e) to support financing and investment operations in sectors referred to in point (e) of Article 7(1) in order to maintain and reinforce the strategic autonomy and sustainability of the Union and of its economy, consistent with the energy and climate legislation and the 2030 energy and climate targets and climate neutrality by 2040, the European Pillar of Social Rights, the objectives of green and digital transitions, technological autonomy, sustainable and inclusive growth, economic, social and territorial cohesion, quality job creation as well as research and innovation.
Amendment 68 #
Proposal for a regulation Article 3 a (new) Article 3 a European Climate Law This regulation shall fully respect all the Union obligations set out in the European Climate Law1a. _________________ 1a Regulation of the European Parliament and of the Council (EU) xx/xx establishing the framework for achieving climate neutrality and amending Regulation (EU) 2018/1999 (OJ L 198, 22.6.2020, p. 13).
Amendment 69 #
Proposal for a regulation Article 7 – paragraph 1 – introductory part 1. The InvestEU Fund shall operate through the following five policy windows that shall address market failures or sub- optimal investment situations within their specific scope, respecting the ‘do no significant harm’ principle:
Amendment 70 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) a sustainable infrastructure policy window which comprises sustainable investment in the areas of transport, including multimodal transport infrastructures facilitating the modal shift, road safety, including in accordance with the Union objective of eliminating fatal road accidents and serious injuries by 2050, the renewal and maintenance of rail and road infrastructure, the extension of rail, including night trains, active mobility and public transport infrastructure, energy, in particular renewable energy, energy efficiency in accordance with the 2030 energy framework, the new 2030 climate target and the EU ‘s climate neutrality goal, buildings renovation projects focused on energy savings and the integration of buildings into a connected energy, storage, digital and transport systems, improving interconnection levels, digital connectivity and access, including in rural areas, supply and processing of raw materials, space, oceans, water, including
Amendment 71 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) a sustainable infrastructure policy window which comprises sustainable investment in the areas of transport, including multimodal and rail transport, road safety, including in accordance with the Union objective of eliminating fatal road accidents and serious injuries by 2050, the renewal and maintenance of rail and road infrastructure, as well as enlarging it to encompass outermost, mountainous and least accessible areas, energy, in particular renewable energy, energy efficiency in accordance with the 2030 energy framework, buildings renovation projects focused on energy savings and the integration of buildings into a connected energy, storage, digital and transport systems, improving interconnection levels, digital connectivity and access, including in rural, mountainous and outermost areas, supply and processing of raw materials, space, oceans, water, including
Amendment 72 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) a sustainable infrastructure policy window which comprises sustainable investment in the areas of transport, including multimodal transport, road safety, including in accordance with the Union objective of eliminating fatal road accidents and serious injuries by 2050, the renewal and maintenance of rail and road infrastructure,
Amendment 73 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) an SME policy window which comprises access to and the availability of finance primarily for SMEs, including for innovative SMEs and SMEs operating in tourism, the cultural and creative sectors, as well as for small mid-cap companies;
Amendment 74 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) an SME policy window which comprises access to and the availability of finance primarily for SMEs, including for innovative SMEs and SMEs operating in the cultural and creative sectors, tourism, as well as for small mid-cap companies;
Amendment 75 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) a social investment and skills policy window, which comprises microfinance, social enterprise finance, social economy and measures to promote gender equality, skills, education, training and related services, social infrastructure, including health and educational infrastructure and social and student housing, social innovation, health and long-term care, inclusion and accessibility, cultural and creative activities with a social goal, social tourism and the integration of vulnerable people, including third country nationals;
Amendment 76 #
Proposal for a regulation Article 7 – paragraph 1 – point e – introductory part (e) a strategic European investment policy window which comprises strategic investment to support final recipients that are established in a Member State and that operate in the Union,
Amendment 77 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether physical or virtual, refraining from inflicting ‘significant harm to environmental objectives’ as defined in Article 17 of Regulation (EU) 2020/8521a , including infrastructure elements identified as critical in the fields of energy,
Amendment 78 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether physical or virtual, including infrastructure elements identified as critical in the fields of energy, transport, logistics, environment, health, secure digital communication, 5G, internet of things, online service platforms, secure cloud computing, data processing or storage, payments and financial infrastructure, aerospace, defence, communications, media, education and training, electoral infrastructure and sensitive facilities, as well as land and real estate crucial for the use of such critical infrastructure;
Amendment 79 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether
Amendment 80 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iii a (new) iii a) through-ticketing and seamless mobility technology services, with a particular emphasis in further developing the railway travel mode and the expansion of the night train network;
Amendment 81 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iii a (new) iii a) critical strategic investments in sustainable tourism;
Amendment 82 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – introductory part iv) key enabling, transformative, green and digital technologies and game- changing innovations where the investment is strategically important for the Union’s
Amendment 83 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point a (a) artificial intelligence, blockchain, software, robotics, semiconductors, microprocessors, edge cloud technologies, high-performance computing, cybersecurity, quantum technologies, photonics, industrial biotechnology, autonomous vehicles, technologies relating to vehicle and road infrastructure safety,
Amendment 84 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point a (a) ethical artificial intelligence, blockchain, software, robotics, semiconductors,
Amendment 85 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) renewable energy technologies, energy storage technologies including sustainable batteries, sustainable transport technologies,
Amendment 86 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies,
Amendment 87 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point c a (new) (c a) Sustainable tourism
Amendment 88 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vi a (new) vi a) encourage critical strategic investments in sustainable tourism schemes which can also be embedded in biodiversity conservation efforts, and including investments promoting a shift from mass tourism to other forms of cultural and sustainable tourism
Amendment 89 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – introductory part vii) critical technologies and inputs for the security of the Union and its Member States, such as
Amendment 90 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – paragraph 1 In addition, in the case of investments in space
Amendment 91 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii a (new) vii a) the financing and investment under this window shall prioritize initiatives contributing to saving lives in the short, mid and long term, as well as ensure adequate support to the challenges of climate emergency, environmental pollution, and digitalisation.
Amendment 92 #
Proposal for a regulation Article 7 – paragraph 3 3. Financing and investment operations shall be screened to determine whether they have an environmental, climate or social impact. If those operations have such an impact they shall be subject to climate, environmental and social sustainability proofing with a view to minimising detrimental impacts and to maximising benefits to the climate, environment and social dimensions. For that purpose, project promoters that request financing shall provide adequate information based on the guidance referred to in paragraph 4. Projects below a certain size specified in the guidance shall be excluded from the proofing. Projects that are inconsistent with the climate objectives and which do not comply with the criteria established by Regulation (EU) 2020/8521a shall not be eligible for support under this Regulation. In case the implementing partner concludes that no sustainability proofing is to be carried out, it shall provide a justification to the Investment Committee. _________________ 1aRegulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (OJ L 198, 22.6.2020, p. 13).
Amendment 93 #
(d) identify projects that are inconsistent with the achievement of
Amendment 94 #
Proposal for a regulation Article 7 – paragraph 4 – point d (d) identify projects that are inconsistent with the achievement of climate
Amendment 95 #
Proposal for a regulation Article 7 – paragraph 4 – point d a (new) (d a) assess projects against their contribution to climate and energy targets, especially to the new Union’s climate target for 2030 and to the transition towards climate neutral economies by 2040;
Amendment 96 #
Proposal for a regulation Article 7 – paragraph 6 – introductory part 6. Implementing partners shall apply a target of
Amendment 97 #
Proposal for a regulation Article 7 – paragraph 6 – introductory part 6. Implementing partners shall apply a target of at least 6
Amendment 98 #
Proposal for a regulation Article 7 – paragraph 6 – introductory part 6. Implementing partners shall apply a target of at least
Amendment 99 #
Proposal for a regulation Article 7 – paragraph 6 – introductory part 6. Implementing partners shall apply a target of at least
source: 655.909
2020/09/15
BUDG, ECON
556 amendments...
Amendment 100 #
Proposal for a regulation Recital 11 (11) The contribution of the InvestEU
Amendment 101 #
Proposal for a regulation Recital 12 (12) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include the pollution of air, soil, inland waters and oceans, extreme weather events, biodiversity losses and failures of climate- change mitigation and adaptation.
Amendment 102 #
Proposal for a regulation Recital 12 (12) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include the pollution of air, soil, inland waters and oceans, extreme weather events, biodiversity losses and failures of climate-
Amendment 103 #
Proposal for a regulation Recital 12 (12) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include the pollution of air, soil, inland waters and oceans, extreme weather events, biodiversity losses and failures of climate- change mitigation and adaptation. Environmental principles are strongly embedded in the Treaties and many of the Union's policies. Therefore, the mainstreaming of environmental objectives should be promoted in operations related to the InvestEU Fund. Environmental protection and the prevention and management of related risks should be integrated in the preparation and implementation of investments. The Union should also track its biodiversity-related and air pollution control-related expenditures in order to fulfil the reporting obligations under the Convention on Biological Diversity26 and under Directive (EU) 2016/2284 of the European Parliament and of the Council27
Amendment 104 #
Proposal for a regulation Recital 12 (12) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include the pollution of air, soil, inland waters and oceans, extreme weather events, biodiversity losses, deforestation and failures of climate-
Amendment 105 #
Proposal for a regulation Recital 12 (12) According to the 2018 Global Risks Report issued by the World Economic Forum, half of the ten most critical risks threatening the global economy relate to the environment. Such risks include the pollution of air, soil, inland waters and oceans, extreme weather events, biodiversity losses and failures of climate- change mitigation and adaptation. Environmental principles are strongly embedded in the Treaties and many of the Union's policies. Therefore, the mainstreaming of environmental objectives should be promoted in operations related to the InvestEU Fund. Environmental protection and the prevention and management of related risks should be integrated in the preparation, evaluation, and
Amendment 106 #
Proposal for a regulation Recital 13 (13) Investment projects that receive substantial Union support, in particular in the area of infrastructure, should be screened by the implementing partner to determine whether they have an environmental, climate or social impact, including on gender equality, labour market segregation, equal opportunities and treatment at work. Investment projects that have such an
Amendment 107 #
Proposal for a regulation Recital 13 (13) Investment projects that receive substantial Union support, in particular in the area of infrastructure, should be screened by the implementing partner to determine whether they have an environmental
Amendment 108 #
Proposal for a regulation Recital 13 (13) Investment projects that receive substantial Union support, in particular in the area of infrastructure, should be screened by the implementing partner to determine whether they have an environmental, climate or social impact. Investment projects that have such an impact should be subject to sustainability proofing in accordance with guidance that should be developed by the Commission in close cooperation with potential implementing partners under the InvestEU Programme so as to prevent any significant damage to the environment. This guidance should appropriately use the criteria established by [Regulation on establishment of a framework to facilitate sustainable investment] for determining whether an economic activity is environmentally sustainable
Amendment 109 #
Proposal for a regulation Recital 13 (13)
Amendment 110 #
Proposal for a regulation Recital 13 (13) Investment projects that receive substantial Union support, in particular in the area of infrastructure, should be screened by the implementing partner to determine whether they have an environmental, climate or social impact. Investment projects that have such an impact should be subject to sustainability proofing in accordance with guidance that should be developed by the Commission in close cooperation with potential implementing partners under the InvestEU Programme. This guidance should appropriately use the criteria established by [Regulation on establishment of a framework to facilitate sustainable investment] ], and for social impact the European Pillar of Social Rights, for determining whether an economic activity is environmentally and socially sustainable and consistent with the guidance developed for other programmes of the Union. Consistent with the principle of proportionality, such guidance should include adequate provisions for avoiding undue administrative burdens, and projects below a certain size as to be defined in the guidance should be excluded from the sustainability proofing. Where the implementing partner concludes that no sustainability proofing is to be carried out, it should provide a justification to the Investment Committee established for the InvestEU Fund. Operations that are inconsistent with the achievement of the climate objectives should not be eligible for support under this Regulation.
Amendment 111 #
Proposal for a regulation Recital 13 (13) Investment projects that receive substantial Union support, in particular in the area of infrastructure, should be screened by the implementing partner to determine whether they have an environmental, climate or social impact. Investment projects that have such an impact should be subject to sustainability proofing in accordance with guidance that should be developed by the Commission in close cooperation with potential implementing partners under the InvestEU Programme. This guidance should
Amendment 112 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence while respecting the Do No Significant Harm and Minimum Safeguards as per the Regulation (EU) 2020/852 on the establishment of a framework to facilitate sustainable investment. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the SDGs, and the 2030 energy
Amendment 113 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence, as well as to be resilient to the shocks the EU countries suffer as a result of natural disasters. The lack of transport infrastructure in certain areas became a particularly negative factor in delivering urgent help and materials in the context of Covid-19. It also creates risk of consolidating imbalances and inequalities and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the SDGs, and the 2030 energy and climate targets.
Amendment 114 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the SDGs, and the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy sources and other safe and sustainable low- emission energy sources, environmental infrastructure, infrastructure related to climate action, maritime infrastructure and digital infrastructure. The InvestEU Programme should prioritise areas that are under-invested, and in which additional investment is required. To maximise the impact and added value of Union financing support, it is appropriate to promote a streamlined investment process that enables visibility of the project pipeline and maximises synergies across relevant Union programmes in areas such as transport, energy and digitisation. Bearing in mind threats to safety and security, investment projects receiving Union support should include measures for infrastructure resilience, including infrastructure maintenance and safety, and should take into account principles for the protection of citizens in public spaces. This should be complementary to the efforts made by other Union funds that provide support for security components of investments in public spaces, transport, energy and other critical infrastructure,
Amendment 115 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, climate neutrality, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the SDGs, and the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy sources and other safe and sustainable
Amendment 116 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, competitiveness and upward convergence of living conditions in Europe. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in particular with regard to interconnection
Amendment 117 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the Union's ability to boost sustainable growth, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the Paria Agreement, SDGs, and the 2030 energy and climate targets included in the European Green Deal. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy sources and other safe and sustainable low-
Amendment 118 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis, brought about by the EU’s fiscal policy rules that limit debt-financed investment spending, undermined the Union's ability to boost sustainable growth, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the SDGs, and the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy sources and other safe and sustainable low- emission energy sources, environmental infrastructure, infrastructure related to climate action, maritime infrastructure and digital infrastructure. The InvestEU Programme should prioritise areas that are under-invested, and in which additional investment is required. To maximise the impact and added value of Union financing
Amendment 119 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis undermined the
Amendment 120 #
Proposal for a regulation Recital 14 (14) Low in
Amendment 121 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in
Amendment 122 #
Proposal for a regulation Recital 14 (14) Low infrastructure investment rates in the Union during the financial crisis and again during the Covid-19 crisis have undermined the Union's ability to boost sustainable growth, competitiveness and convergence. It also creates risk of consolidating imbalances and impacts regions’ development long-term. Sizeable investments in Union infrastructure, in particular with regard to interconnection and energy efficiency and to creating a Single European Transport Area, are essential to meeting the Union's sustainability targets, including the Union’s commitments towards the SDGs, and the 2030 energy and climate targets. Accordingly, support from the InvestEU Fund should target investments into transport, energy, including energy efficiency and renewable energy sources and other safe and sustainable low- emission energy sources, environmental infrastructure, infrastructure related to climate action, maritime infrastructure and
Amendment 123 #
Proposal for a regulation Recital 15 (15)
Amendment 124 #
Proposal for a regulation Recital 15 (15)
Amendment 125 #
Proposal for a regulation Recital 16 (16) Genuine multimodality is an opportunity to create an efficient and environmentally friendly transport network that uses the maximum potential of all means of transport and generates synergy between them. The InvestEU Programme should support investments in multimodal transport hubs, especially in the less developed regions that are poorly connected to TEN-T, which - in spite of their significant economic potential and business cases - carry a significant risk for private investors. The InvestEU Programme should also contribute to the development and deployment of Intelligent Transport Systems (ITS). The InvestEU Programme should help to boost efforts to design and apply technologies that help to improve the safety of vehicles and road infrastructure.
Amendment 126 #
Proposal for a regulation Recital 16 (16) Genuine multimodality is an opportunity to create an efficient and environmentally friendly transport network that uses the maximum potential of all means of transport and generates synergy between them. The InvestEU Programme should support investments in multimodal transport hubs, which - in spite of their significant economic potential and business cases - carry a significant risk for private investors. The InvestEU Programme should also contribute to the development and deployment of Intelligent Transport Systems (ITS). The InvestEU Programme should help to boost efforts to design and apply technologies that help to improve the safety of vehicles and road infrastructure and improve employment and conditions of work in this sector.
Amendment 127 #
Proposal for a regulation Recital 16 (16) Genuine multimodality is an opportunity to create an efficient and environmentally friendly transport network that uses the maximum potential of all means of transport and generates synergy between them. The InvestEU Programme should support investments in multimodal transport hubs, which - in spite of their significant economic potential and business cases - carry a significant risk for private investors. The InvestEU Programme
Amendment 128 #
Proposal for a regulation Recital 17 (17) The InvestEU Programme should contribute to Union policies concerning seas and oceans through the development of projects and enterprises in the area of the blue economy, and the Sustainable Blue Economy Finance Principles. This may include interventions in the area of maritime entrepreneurship and industry, an innovative and competitive maritime industry, as well as renewable marine energy and circular economy, and measures for the improvement of employment and conditions of work in the sector.
Amendment 129 #
Proposal for a regulation Recital 17 (17) The InvestEU Programme should
Amendment 130 #
Proposal for a regulation Recital 17 a (new) (17 a) The InvestEU should contribute to EU Strategy for the Danube Region, the investment opportunities could improve transport and energy connections, the environment, the ocio- economic development as well as the security in the region.
Amendment 131 #
Proposal for a regulation Recital 18 (18) Although the level of overall investment in the Union was increasing before the Covid-19 crisis, investment in higher-risk activities such as research and
Amendment 132 #
Proposal for a regulation Recital 18 (18) Although the level of overall investment in the Union was increasing before the Covid-19 crisis, investment in higher-risk activities such as research and
Amendment 133 #
Proposal for a regulation Recital 18 (18) Although the level of overall investment in the Union was increasing before the Covid-19 crisis, investment in higher-risk activities such as research and innovation was still inadequate and is now expected to have suffered a significant hit with the crisis. The resulting
Amendment 134 #
Proposal for a regulation Recital 18 (18) Although the level of overall investment in the Union was increasing before the Covid-19 crisis, investment in higher-risk activities such as research and innovation was still inadequate and is now expected to have suffered a significant hit with the crisis. The resulting underinvestment in research and innovation is damaging to the industrial and economic competitiveness of the Union and the quality of life of its citizens.
Amendment 135 #
Proposal for a regulation Recital 18 (18) Although the level of overall investment in the Union was
Amendment 136 #
Proposal for a regulation Recital 19 (19) Tourism is an important area for the Union economy and the sector
Amendment 137 #
(19) Tourism is an important area for the Union economy and the sector, which experienced a particularly severe contraction as a result of COVID-19 pandemic. For many European regions, tourism is a strategic sector and acts as a multiplier for growth and employment. The InvestEU Programme should contribute to strengthening its long-
Amendment 138 #
Proposal for a regulation Recital 19 (19) Tourism is an important area for the Union economy and the sector, which is mostly composed of SMEs experienced a particularly severe contraction as a result of COVID-19 pandemic and faces limited capabilities to transition itself in accordance with Union objectives in relation to sustainable development. The InvestEU Programme should contribute to strengthening its long-
Amendment 139 #
Proposal for a regulation Recital 19 (19) Tourism is an important area for the Union economy and the sector, which experienced a particularly severe contraction as a result of COVID-19 pandemic. The InvestEU Programme should contribute to strengthening its long- term competitiveness by supporting operations promoting sustainable, innovative and digital tourism and improve employment and conditions of work in this sector.
Amendment 140 #
Proposal for a regulation Recital 19 (19) Tourism is an important area for the Union economy and the sector, which experienced a particularly severe contraction as a result of COVID-19 pandemic. The InvestEU Programme should contribute to strengthening its long- term competitiveness by supporting operations promoting sustainable, innovative and digital tourism that promotes European history and culture.
Amendment 141 #
Proposal for a regulation Recital 20 (20) A significant effort is urgently needed to invest in and boost the digital transformation and to distribute the benefits of it to all Union citizens and businesses. The strong policy framework of the Digital Single Market Strategy should now be matched by investment of a similar ambition, including in artificial intelligence in line with the Digital Europe programme, including actions and measures that mitigate the impact on the workforce and protect workers that are negatively affected by productive transitions.
Amendment 142 #
Proposal for a regulation Recital 20 (20) A significant effort is urgently needed to invest in and boost the digital transformation and to distribute the benefits of it to all Union citizens and businesses. The strong policy framework of the Digital Single Market Strategy should now be matched by investment of a similar ambition, including in artificial intelligence in line with the Digital Europe programme, including actions and measures that mitigate impact on the workforce and protect workers that are negatively affected by productive transitions.
Amendment 143 #
Proposal for a regulation Recital 20 (20) A significant effort is urgently needed to invest in and boost the digital transformation, with due attention to the gender digital gap, and to distribute the benefits of it to all Union citizens and businesses. The strong policy framework of the Digital Single Market Strategy should now be matched by investment of a similar ambition, including in artificial intelligence in line with the Digital Europe programme.
Amendment 144 #
Proposal for a regulation Recital 21 (21) SMEs represent over 99 % of businesses in the Union and their economic value is significant and crucial. However, they face difficulties when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from the need for SMEs and social economy enterprises to stay competitive by engaging in digitisation, internationalisation, transformation in a logic of circular economy, innovation activities and skilling up their workforce. Moreover, SMEs and social economy enterprises have access to a more limited set of financing sources than larger enterprises, because they typically do not
Amendment 145 #
Proposal for a regulation Recital 21 (21) SMEs represent over 99 % of businesses in the Union and their economic value is significant and crucial and therefore they require special emphasis as part of the InvestEU programme. However, they face difficulties when accessing finance because of their perceived high risk and lack of sufficient collateral. Additional challenges arise from the need for SMEs and social economy enterprises to stay competitive by engaging in digitisation, internationalisation, transformation in a logic of circular economy, innovation activities and skilling up their workforce. SMEs have been particularly impacted by the COVID-19 crisis with up to 90% of EU SMEs reportedly impacted economically, notably in the services sector, manufacturing, construction, tourism, and the cultural and creative sectors. Moreover, SMEs and social economy enterprises have access to a more limited set of financing sources than larger enterprises, because they typically do not issue bonds, and have only limited access to stock exchanges and large institutional investors. Innovative solutions such as the acquisition of a business or ownership stake in a business by employees are also increasingly common for SMEs and social economy enterprises. The difficulty in accessing finance is even greater for those SMEs whose activities focus on intangible assets. SMEs in the Union rely heavily on banks and on debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges by making it easier for them to gain access to finance and by providing more diversified sources of funding is necessary to increase the ability of SMEs to finance their creation, growth, innovation and sustainable development,
Amendment 146 #
Proposal for a regulation Recital 21 (21) SMEs represent over 99 % of businesses in the Union and their economic value is significant and crucial. However, they face difficulties when accessing finance because of their perceived high risk
Amendment 147 #
Proposal for a regulation Recital 21 (21) SMEs represent over 99 % of businesses in the Union and their economic value is significant and crucial. However, they face major difficulties in accessing finance as well as when accessing finance because of their perceived high risk and lack of sufficient collateral, which has a negative impact on employment levels and the quality of work. Additional challenges arise from the need for SMEs and social economy enterprises to stay competitive by engaging in digitisation, internationalisation, transformation in a logic of circular economy, innovation activities and skilling up their workforce. Moreover, SMEs and social economy enterprises have access to a more limited set of financing sources than larger enterprises, because they typically do not issue bonds, and have only limited access to stock exchanges and large institutional investors. Innovative solutions such as the acquisition of a business or ownership stake in a business by employees are also increasingly common for SMEs and social economy enterprises. The difficulty in accessing finance is even greater for those SMEs whose activities focus on intangible assets. SMEs in the Union rely heavily on banks and on debt financing in the form of bank overdrafts, bank loans or leasing. Supporting SMEs that face the above challenges by making it easier for them to gain access to finance and by providing
Amendment 148 #
Proposal for a regulation Recital 21 (21) SMEs represent over 99 % of businesses in the Union and their economic value is significant and crucial. However, they face difficulties when accessing finance because of their perceived high risk
Amendment 149 #
Proposal for a regulation Recital 21 a (new) (21 a) Article 8 of the TFEU lays down the principle for gender mainstreaming in all EU activities. A proper implementation of gender mainstreaming requires the allocation of adequate resources and transparency in the budges lines dedicated to promote gender equality and to combat gender discrimination. The InvestEU Programme should integrate the gender perspective in all its workings and decision making processes, make sure that committees and projects teams are gender balanced and ensure that the implementation of this fund contributes to the promotion of gender equality in compliance with EU gender mainstreaming obligations. The projects funded under InvestEU should promote equality between women and men, in particular in research and innovation, by addressing the underlying causes of gender imbalance, by exploiting the full potential of both female and male researchers, and by integrating the gender dimension in the research and innovation content; as well as by paying particular attention to ensuring gender balance in evaluation panels and in other relevant advisory and expert bodies. Activities should also aim at implementation of principles relating to equality between women and men as laid down in Articles 2 and 3 of the Treaty of the European Union, in Article 8 TFEU and Directive 2006/54/EC on the implementation of the principle of equal opportunities and equal treatment of men and women in matters of employment and occupation.
Amendment 150 #
Proposal for a regulation Recital 22 (22) As set out in the Commission's Reflection paper on the social dimension of Europe of 26 April 2017, the Communication on European Pillar of Social Rights, the Union framework for the UN Convention on the Rights of Persons with Disabilities and the Communication on ‘Strong Social Europe for Just Transitions’ of 14 January 2020, building a more inclusive and fair Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training, culture, employment, health and social services. Investment in the social, skills and human capital-related economy, as well as in the in
Amendment 151 #
Proposal for a regulation Recital 22 (22) As set out in the Commission's Reflection paper on the social dimension of Europe of 26 April 2017, the Communication on European Pillar of Social Rights, the Union framework for the UN Convention on the Rights of Persons with Disabilities and the Communication on ‘Strong Social Europe for Just Transitions’ of 14 January 2020, building a more inclusive and fair Union is a key
Amendment 152 #
Proposal for a regulation Recital 22 (22) As set out in the Commission's Reflection paper on the social dimension of Europe of 26 April 2017, the Communication on European Pillar of Social Rights, the Union framework for the UN Convention on the Rights of Persons with Disabilities and the Communication on ‘Strong Social Europe for Just Transitions’ of 14 January 2020, building a more inclusive and fair Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training, culture, employment, health and social services. Investment in the social, skills and human capital-related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. The InvestEU Fund should be used to support investment in education and training, achieving the goals of the new European Skills Agenda, including the re-
Amendment 153 #
Proposal for a regulation Recital 22 (22) As set out in the Commission's Reflection paper on the social dimension of Europe of 26 April 2017, the Communication on European Pillar of Social Rights, the Union framework for the UN Convention on the Rights of Persons with Disabilities and the Communication on ‘Strong Social Europe for Just Transitions’ of 14 January 2020, building a more inclusive and fair Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training, culture, employment, health, housing and social services. Investment in the social, skills and human capital-related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. The InvestEU Fund should be used to support investment in quality and inclusive education and training, including the re-
Amendment 154 #
Proposal for a regulation Recital 22 (22) As set out in the Commission's Reflection paper on the social dimension of Europe of 26 April 2017, the Communication on European Pillar of Social Rights, the Union framework for the UN Convention on the Rights of Persons with Disabilities and the Communication on ‘Strong Social Europe for Just Transitions’ of 14 January 2020, building a more inclusive and fair Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training, culture, employment, health and social services. Investment in the social, skills and human capital-related economy, as well as in the integration of vulnerable populations in the society, can enhance economic opportunities, especially if coordinated at Union level. The InvestEU Fund should be used to support investment in education and training, including the re-
Amendment 155 #
Proposal for a regulation Recital 22 (22) As set out in the Commission's Reflection paper on the social dimension of Europe of 26 April 2017, the Communication on European Pillar of Social Rights, the Union framework for the UN Convention on the Rights of Persons with Disabilities and the Communication on ‘Strong Social Europe for Just Transitions’ of 14 January 2020, building a more inclusive and fair Union is a key priority for the Union to tackle inequality and foster social inclusion policies in Europe. Inequality of opportunities affects in particular access to education, training,
Amendment 156 #
Proposal for a regulation Recital 23 (23) To counter the negative effects of profound transformations of societies in the Union and of the labour market, which have been intesified by the Covid-19 crisis, in the coming decade, it is necessary to invest in
Amendment 157 #
Proposal for a regulation Recital 23 (23) To counter the negative effects of profound transformations of societies in the Union and of the labour market in the coming decade, it is necessary to invest in human capital, social infrastructure, microfinance, ethical and social enterprise finance and new social economy business models, including social impact investment and social outcomes contracting. The InvestEU Programme should strengthen nascent social market eco-system to increase the supply of and access to finance to micro- and social enterprises and social solidarity institutions, in order to meet the demand of those who need it the most. The report of the High-Level Task Force on Investing in Social Infrastructure in Europe of January 2018 entitled "Boosting Investment in Social Infrastructure in Europe" has identified a total investment gap of at least EUR 1.5 trillion in social infrastructure and services for the period between 2018 and 2030, including education, training, health and housing. This calls for support, including at the Union level. Therefore, the collective power of public, commercial and philanthropic capital, as well as support from foundations and from alternative types of finance providers such as ethical, social and sustainable actors, should be harnessed to support the development of the social market value chain and a more resilient Union. Social innovation and the Social economy should be key in this process.
Amendment 158 #
Proposal for a regulation Recital 23 (23) To counter the negative effects of profound transformations of societies in the Union and of the labour market in the coming decade, it is necessary to invest in human capital, social infrastructure, microfinance, ethical and social enterprise finance and new social economy business models, including social impact investment and social outcomes contracting. The InvestEU Programme should strengthen nascent social market eco-system to increase the supply of and access to finance to micro- and social enterprises and social solidarity institutions, in order to meet the demand of those who need it the most. The report of the High-Level Task Force on Investing in Social Infrastructure in Europe of January 2018 entitled "Boosting Investment in Social Infrastructure in Europe" has identified a total investment gap of at least EUR 1.5 trillion in social infrastructure and services for the period between 2018 and 2030, including education, training, health and housing.
Amendment 159 #
Proposal for a regulation Recital 23 (23) To counter the negative effects of
Amendment 160 #
Proposal for a regulation Recital 23 a (new) (23 a) The outbreak of the COVID-19 pandemic has shown that informal and formal care, including but not limited to, childcare, care for those with disabilities and elder care, is a valuable societal good but one which significantly impacts families and disproportionately impacts women. To promote work-life balance and to boost the labour market participation of women, as well as the economy more broadly, InvestEU should support the development of care infrastructure and services and should gather and promote innovative methods of care provision for the attention of the national authorities and the EU.
Amendment 161 #
Proposal for a regulation Recital 23 b (new) (23 b) Support for and integration of vulnerable persons can result in economic, societal and personal gains for the Union and Member States. Throughout the confinement period of COVID-19, a rise in domestic violence was noted across the Union. To tackle the scourge of domestic violence and the impact of violence on women and men within the EU and the Member States, InvestEU should support the development of necessary infrastructure, including shelters and helplines for victims of violence.
Amendment 162 #
(24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically viable projects to crowd in private finance is particularly valuable and should be reinforced, inter alia in order to counteract the risk of an asymmetric recovery. The InvestEU Programme should be able to provide crucial support to companies in the recovery phase and at the same time ensure a strong focus of investors on the Union’s medium- and long-term policy priorities such as the European Green Deal, the European Green Deal Investment Plan, the Strategy on shaping Europe’s digital future and the Strong Social Europe for Just Transitions. It should significantly increase the risk-taking capacity of the European Investment Bank (EIB) Group and national promotional banks and institutions and other implementing partners in support of economic recovery. Companies supported by the Invest EU programme financing shall not make dividend payments, non- mandatory coupon payments or buy back shares during the period of the guarantee. The remuneration of any member of the management of a such a supported companie shall not go beyond the fixed part of that members’ remuneration on 31 December 2019. For a person becoming a member of the management on or after the granting of this support, the applicable limit shall be the lowest fixed remuneration of any member of the management on 31 December 2019. Bonuses or other variable or comparable remuneration elements shall not be paid under any circumstances.
Amendment 163 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the
Amendment 164 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically viable projects to crowd in private finance is particularly valuable and should be reinforced, inter alia in order to counteract the risk of an asymmetric recovery. In this regard, special emphasis should be placed on supporting SMEs, with particular regard to SMEs led by women that often face unique challenges when it comes to accessing requisite financing from financing mechanisms and institutions and that will require significant support during the recovery phase. The InvestEU Programme should be able to provide crucial support to companies in the recovery phase and at the same time ensure a strong focus of investors on the Union’s medium- and long-term policy priorities such as the European Green Deal, the European Green Deal Investment Plan, the Strategy on shaping Europe’s digital future, the Gender Equality Strategy and the Strong Social Europe for Just Transitions. It should significantly increase the risk-taking capacity of the European Investment Bank (EIB) Group and national promotional banks and institutions and other implementing partners in support of economic recovery.
Amendment 165 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically viable projects to crowd in private finance is particularly valuable and should be reinforced, inter alia in order to counteract the risk of an asymmetric recovery. The InvestEU Programme should be able to provide crucial support to companies in the recovery phase and at the same time ensure a strong focus of investors on the Union’s medium- and long-term policy priorities and the implementation of EU legislation, such as the European Green Deal, the European Green Deal Investment Plan, the
Amendment 166 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the Covid-19 pandemic, market allocation
Amendment 167 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the
Amendment 168 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically viable projects to crowd in private finance is particularly valuable and should be reinforced, inter alia in order to counteract the risk of an asymmetric recovery. The InvestEU Programme should be able to provide crucial support to companies in the
Amendment 169 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically viable projects to crowd in private finance is particularly valuable and should be reinforced, inter alia in order to counteract the risk of an asymmetric recovery. The InvestEU Programme should be able to provide crucial support to companies, , in particular SMEs and micro-scale companies, in the recovery phase and at the same time ensure a strong focus of investors on the Union’s medium- and long-term policy priorities such as the European Green Deal, the European Green Deal Investment Plan, the Strategy on shaping Europe’s digital future, the new Industrial Strategy for Europe, the European Strategy for SMEs, and the Strong Social Europe for Just Transitions. It should significantly increase the risk- taking capacity of the European Investment Bank (EIB) Group and national promotional banks and institutions and
Amendment 170 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically viable projects to crowd in private finance is particularly valuable and should be reinforced, inter alia in order to counteract the risk of an asymmetric recovery. The InvestEU Programme should be able to provide crucial support to companies in the recovery phase and at the same time ensure a strong focus of investors on the Union’s medium- and long-term policy priorities such as the European Green Deal, the European Green Deal Investment Plan, the Strategy on shaping Europe’s digital future and the Strong Social Europe for Just Transitions. It should significantly increase the risk-taking capacity of the European Investment Bank (EIB) Group and national promotional banks and institutions and other implementing partners in support of economic recovery, without, however, unduly reducing the risk for private-sector players.
Amendment 171 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically viable projects to crowd in private finance is particularly valuable and should be reinforced, inter alia in order to
Amendment 172 #
Proposal for a regulation Recital 24 (24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically viable projects to crowd in private finance is particularly valuable and should be reinforced, inter alia in order to counteract the risk of an asymmetric recovery. The InvestEU Programme should be able to provide crucial support to companies in the recovery phase, in particular SMEs, and at the same time ensure a strong focus of investors on the Union’s medium- and long-term policy priorities such as the European Green Deal, the European Green Deal Investment Plan, the Strategy on shaping Europe’s digital future and the Strong Social Europe for Just Transitions. It should significantly increase the risk- taking capacity of the European Investment Bank (EIB) Group and national promotional banks and institutions and other implementing partners in support of economic recovery.
Amendment 173 #
Proposal for a regulation Recital 25 (25) The Covid-19 pandemic is a major shock to the global and Union economy. The contraction in EU GDP is expected to be much bigger than initially projected and far deeper than during the financial crisis
Amendment 174 #
Proposal for a regulation Recital 25 (25) The Covid-19 pandemic is a major shock to the global and Union economy. The contraction in EU GDP is expected to be far deeper than during the financial crisis in 2009 and adverse social effects will be inevitable and aggravated by the persistently accommodative monetary policies of the European Central Bank. The outbreak of the pandemic has shown the need for strategic vulnerabilities in some Member States and sectors to be addressed in order to improve the Union’s emergency response as well as the resilience of the entire economy. Only a resilient, inclusive and integrated European economy can preserve the Single Market and the level playing field also to the benefit of the hardest-hit Member States.
Amendment 175 #
Proposal for a regulation Recital 25 (25) The Covid-19 pandemic is a major shock to the global and Union economy. The contraction in EU GDP is expected to be far deeper than during the financial crisis in 2009 and adverse social effects will be inevitable. The outbreak of the pandemic has shown the need for strategic vulnerabilities to be addressed in order to improve the Union’s emergency response as well as the resilience of the entire economy. Only a resilient, inclusive and integrated European economy can preserve the Single Market and the level playing field also to the benefit of the hardest-hit Member States and Member States with low budgetary capacity of intervening through state aid schemes to support their private sector.
Amendment 176 #
Proposal for a regulation Recital 25 (25) The Covid-19 pandemic is a major shock to the global and Union economy. The contraction in EU GDP is
Amendment 177 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union , in
Amendment 178 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions and of enhanced resilience in areas of (i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, fostering the sustainable and ethical production, procurement, management and non- exclusive licensing of crisis relevant products ensuring their affordability in complementarity with other Union instruments, medical devices and medical supplies
Amendment 179 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions and of enhanced resilience in areas of (i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity and of the civil protection system, (ii) critical infrastructure, whether physical or virtual; (iii) provision of goods and services instrumental to the operation and maintenance of such infrastructure, (iv) key enabling, transformative, green and digital technologies and game-changing innovations where the investment is strategically important for the Union’s industrial future, including artificial intelligence, blockchain, software, robotics, semiconductors, microprocessors, edge cloud technologies, high-performance computing, cybersecurity, quantum technologies, photonics, industrial biotechnology, renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies, clean hydrogen and fuel cell applications, decarbonisation technologies for industry, carbon capture and storage,
Amendment 180 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the
Amendment 181 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the
Amendment 182 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions and of enhanced resilience in areas of (i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity and of the civil protection system, (ii) critical infrastructure, whether physical or virtual, or based on intellectual property, such as infrastructure in the field of audio-visual content creation and distribution; (iii) provision of goods and services instrumental to the operation and maintenance of such infrastructure, (iv) key enabling, transformative, green and digital technologies and game-changing innovations where the investment is strategically important for the Union’s industrial future, including artificial intelligence, blockchain, software, robotics, semiconductors, microprocessors, edge cloud technologies, high-performance computing, cybersecurity, quantum
Amendment 183 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union in particular in view of the green and digital transitions and of enhanced resilience in areas of (i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity, of public healthcare systems and of the civil protection system, (ii) critical infrastructure, whether physical or virtual; (iii) provision of goods and services instrumental to the operation and maintenance of such infrastructure, (iv) key enabling, transformative, green and digital technologies and game-changing innovations where the investment is strategically important for the Union’s
Amendment 184 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose direct or indirect activities are of strategic importance to the Union in particular in view of the green and digital transitions and of enhanced resilience in areas of (i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity and of the civil protection system, (ii) critical infrastructure, whether physical or virtual; (iii) provision of goods and services instrumental to the operation and maintenance of such infrastructure, (iv) key enabling, transformative, green and digital technologies and game-changing innovations where the investment is strategically important for the Union’s industrial future, including artificial intelligence, blockchain, software, robotics, semiconductors, microprocessors, edge
Amendment 185 #
Proposal for a regulation Recital 28 (28) The primary focus of the strategic European investment window should be on
Amendment 186 #
Proposal for a regulation Recital 29 (29) The strategic European investment window should also target suppliers established and operating in the Union whose activities are of strategic importance to the Union and that would need long term investment or are covered by the Foreign Direct Investment Screening mechanism. In addition, important projects of common European interest, in compliance with the Union’s climate and environmental goals, with specific consideration for the Regulation on the establishment of a framework to facilitate sustainable investment and increased transparency in their implementation should in particular be able to benefit from the strategic European investment window
Amendment 187 #
Proposal for a regulation Recital 29 (29) The strategic European investment window should also target suppliers established and operating in the Union whose activities are of strategic importance to the Union and that would need long term investment or are covered by the Foreign Direct Investment Screening mechanism. In addition, important projects of common European interest notably those that aim to bridge the economic development gap between Eastern and Western EU Member States, should in particular be able to benefit from the strategic European investment window.
Amendment 188 #
Proposal for a regulation Recital 29 (29) The strategic European investment window should also target suppliers established and operating in the Union whose activities are of strategic importance to the Union and that would need long term investment or are covered by the Foreign Direct Investment Screening mechanism, unless they represent a threat to the integrity, stability or defence interests of the Union. In addition, important projects of common European interest should in particular be able to benefit from the strategic European investment window.
Amendment 189 #
Proposal for a regulation Recital 29 (29) The strategic European investment window should also target suppliers established and operating in the Union whose activities are of strategic importance to the Union and adhere to the Do No Significant Harm principle that would need long term investment or are covered by the Foreign Direct Investment Screening mechanism. In addition, important projects of common European interest should in particular be able to benefit from the strategic European investment window.
Amendment 190 #
Proposal for a regulation Recital 29 a (new) (29 a) The visibility of the Union funding from the InvestEU Fund, and in particular the strategic European investment window and its identified strategic priorities, should be ensured through effective communication, highlighting Union funded actions and results in order to adequately promote the Union added value of the InvestEU Programme as part of the recovery.
Amendment 191 #
Proposal for a regulation Recital 29 a (new) (29 a) The addition of the strategic European investment window is necessary as a result of the global outbreak of Covid-19, and its impact on people's lives. It should foster sustainable economic recovery and increase resilience, while ensuring strict additionality of all investments supported through InvestEU.
Amendment 192 #
Proposal for a regulation Recital 30 Amendment 193 #
Proposal for a regulation Recital 30 (30)
Amendment 194 #
Proposal for a regulation Recital 30 (30)
Amendment 195 #
Proposal for a regulation Recital 30 (30) The InvestEU should also provide support to financing to generate investment to the benefit of just transition regions, with a special focus on regions facing more intense social and economic transition challenges, in line with the European Green Deal, the European Green Deal Investment Plan and the establishment of the Just Transition Mechanism.
Amendment 196 #
Proposal for a regulation Recital 30 (30) The InvestEU should also provide support to financing to generate investment to the benefit of just transition regions. Such investments should not be taken into consideration when assessing whether there is an excessive concentration of programme actions in a particular geographical area.
Amendment 197 #
Proposal for a regulation Recital 30 (30) The InvestEU should also provide
Amendment 198 #
Proposal for a regulation Recital 30 (30) The InvestEU should also provide support to financing to generate investment to the benefit of just transition regions, even when the projects supported are not located in these regions, provided that they are key to promoting the transition within these territories.
Amendment 199 #
Proposal for a regulation Recital 30 (30) The InvestEU should also provide support to financing to generate investment
Amendment 200 #
Proposal for a regulation Recital 30 (30) The InvestEU should also provide support to financing to generate investment to the benefit of just transition regions, notably in the area of energy efficiency and renewable energies.
Amendment 201 #
Proposal for a regulation Recital 30 a (new) (30 a) The proposal for establishing the Just Transition Fund was adopted by the Commission on 14 January 2020. For the better programming and implementation of the Fund, territorial just transition plans prepared by a Member State in accordance with Article [7] of Regulation [JTF Regulation] should set out the key steps and timeline of the transition process and identify the territories most negatively affected by the transition towards a climate neutral economy and with less capacity to deal with the transition challenges.
Amendment 202 #
Proposal for a regulation Recital 30 a (new) (30 a) To implement the second pillar under the Just Transition Mechanism, a dedicated Just Transition Scheme under InvestEU should be established horizontally across all policy windows. This scheme shall provide funding to additional investment needs to support the regions identified in the territorial just transitions plans, prepared in accordance with Article [7] of Regulation [JTF Regulation] and approved by the Commission.
Amendment 203 #
Proposal for a regulation Recital 30 b (new) (30 b) A dedicated just transition scheme under InvestEU should be established horizontally across all policy windows. It constitutes the second pillar of the Just Transition Mechanism, supporting additional investment to potentially benefit all the regions identified in territorial just transition plans. The scheme through various financial products should enable investments in a wide range of projects, in line with the eligibility of investments under InvestEU. Projects in regions identified in just transition plans, or projects that benefit those regions, even if they are not located in the regions themselves, may benefit from the scheme, but only when funding outside the just transition regions is key to the transition in those regions.
Amendment 204 #
Proposal for a regulation Recital 31 (31) Each policy window should be composed of two compartments, that is to say an EU compartment and a Member State compartment. The EU compartment should address Union-wide or Member State specific market failures or sub- optimal investment situations in a proportionate manner. Operations supported should have a clear Union added value. The Member State compartment should give Member States as well as regional authorities via their Member State the possibility of contributing a share of their resources from the funds under shared management to the provisioning for the EU guarantee and of using the EU guarantee for financing or investment operations in order to address specific market failures or sub-optimal investment situations in their own territories, including in vulnerable and remote areas such as the outermost regions of the Union, as to be set out in the contribution agreement, in order to achieve objectives of the funds under shared management. . In addition, the recovery and resilience plans under the Recovery and Resilience Facility may include additional contributions to the Member States compartment Operations supported by the InvestEU Fund through either EU or Member State compartments should not duplicate or crowd out private financing or
Amendment 205 #
Proposal for a regulation Recital 32 (32) The Member State compartment should be specifically designed to allow the use of funds under shared management or additional contributions from recovery and resilience plans under the Recovery and Resilience Facility to provision a guarantee issued by the Union. That possibility would increase the value added of the EU guarantee by providing support under it to a wider range of financial recipients and projects and diversifying the means of achieving the objectives of the funds under shared management, while ensuring a consistent risk management of the contingent liabilities by implementing the EU guarantee under indirect management. The Union should guarantee the financing and investment operations provided for in the guarantee agreements concluded between the Commission and implementing partners under the Member State compartment. The funds under shared management should provide the provisioning for the guarantee, following a provisioning rate determined by the Commission and set out in the contribution agreement concluded with the Member State, based on the nature of the operations and the resulting expected losses. The
Amendment 206 #
Proposal for a regulation Recital 32 (32) The Member State compartment should be specifically designed to allow the use of funds under shared management to provision a guarantee issued by the Union. That possibility would increase the value added of the EU guarantee by providing support under it to a wider range of financial recipients and projects and diversifying the means of achieving the objectives of the funds under shared management, while ensuring a consistent risk management of the contingent liabilities by implementing the EU guarantee under indirect management. The Union should guarantee the financing and investment operations provided for in the guarantee agreements concluded between the Commission and implementing partners under the Member State compartment. The funds under shared management should provide the provisioning for the guarantee, following a provisioning rate determined by the Commission and set out in the contribution agreement concluded with the Member State, based on the nature of the operations and the resulting expected losses and by taking into consideration the diverse socio-economic situations of each Member State. The Member State would assume losses above the expected losses by issuing a back-to-
Amendment 207 #
Proposal for a regulation Recital 33 Amendment 208 #
Proposal for a regulation Recital 33 (33) A partnership between the Commission and the EIB Group should be established, drawing on the relative strengths of each partner to ensure maximum policy impact, deployment efficiency, and appropriate budgetary and risk management oversight, which should support effective and inclusive direct access to the EU guarantee. The EIB should without delay bring its transport lending policy fully in line with the European Green Deal in general, and the EU climate objectives in particular.
Amendment 209 #
Proposal for a regulation Recital 34 (34) In order to be able to channel support to the European economy through the European Investment Fund (EIF), the Commission should be in a position to participate in one or more possible capital increases of the EIF in order to allow it to continue supporting the European economy and its green recovery. The Union should be able to maintain its overall share in the EIF capital, with due consideration of the financial implications. A sufficient financial envelope to this effect should be foreseen in the Multiannual Financial
Amendment 210 #
Proposal for a regulation Recital 35 (35) The Commission should seek the views of other potential implementing partners and other stakeholders including local authorities and civil society, along with the EIB Group on investment guidelines, the climate tracking system, the sustainability proofing guidance documents and common methodologies, including Natural Capital Accounting and Life Cycle Analysis as appropriate, with a view to ensuring inclusiveness and operationality until the governance bodies have been set up, after which the involvement of implementing partners should take place within the framework of the Advisory Board and the Steering Board of the InvestEU Programme.
Amendment 211 #
Proposal for a regulation Recital 35 (35) The Commission should seek the views of other potential implementing partners along with the EIB Group, as well as other stakeholders including local authorities and civil society, on investment guidelines, the climate and environment tracking system, the sustainability proofing
Amendment 212 #
Proposal for a regulation Recital 35 (35) The Commission should seek the views of other potential implementing partners along with the EIB Group on investment guidelines, the climate tracking system, the sustainability proofing guidance documents and common methodologies, as appropriate, and the impact on employment and jobs with a view to ensuring inclusiveness and operationality until the governance bodies have been set up, after which the involvement of implementing partners should take place within the framework of the Advisory Board and the Steering Board of the InvestEU Programme.
Amendment 213 #
Proposal for a regulation Recital 35 (35) The Commission should seek the views of other potential implementing partners along with the EIB Group on investment guidelines, the climate tracking system, the sustainability proofing guidance documents and common methodologies, as appropriate, and the impact on employment and jobs with a view to ensuring inclusiveness and operationality until the governance bodies have been set up, after which the involvement of implementing partners should take place within the framework of the Advisory Board and the Steering Board of the InvestEU Programme.
Amendment 214 #
Proposal for a regulation Recital 36 (36) The InvestEU Fund should be open to contributions from third countries that are members of the European Free Trade Association, acceding countries, candidates and potential candidates, countries covered by the European Neighbourhood Policy and other countries, in accordance with the conditions laid down between the Union and those countries. Cooperation and support should be provided to decrease dependence on fossil fuels and increase access to affordable renewable energy, as well as to support access to science, technology and innovation in line with the SDGs. This should allow continuing cooperating with the relevant countries, where appropriate, in particular in the fields of research and innovation as well as SMEs.
Amendment 215 #
Proposal for a regulation Recital 36 (36) The InvestEU Fund should be open to contributions from third countries that are members of the European Free Trade Association
Amendment 216 #
Proposal for a regulation Recital 38 (38) The EU guarantee of EUR
Amendment 217 #
Proposal for a regulation Recital 38 (38) The EU guarantee of EUR
Amendment 218 #
Proposal for a regulation Recital 40 (40) The EU guarantee underpinning the InvestEU Fund should be implemented indirectly by the Commission relying on implementing partners with outreach to financial intermediaries, where applicable, and final recipients. The selection of the implementing partners should be transparent and free from any conflict of interest. The Commission should conclude a guarantee agreement allocating guarantee capacity from the InvestEU Fund with each implementing partner to support its financing and investment operations that
Amendment 219 #
Proposal for a regulation Recital 41 (41) The InvestEU Fund should be provided with a governance structure, the function of which should be commensurate with its sole purpose of ensuring the appropriate use of the EU guarantee, in line with ensuring the political independence of investment decisions. That governance structure should be composed of an Advisory Board, a Steering Board and a fully independent Investment Committee.
Amendment 220 #
Proposal for a regulation Recital 41 (41) The InvestEU Fund should be provided with a governance structure, the function of which should be commensurate with its sole purpose of ensuring the appropriate use of the EU guarantee, in line with ensuring the political independence of investment decisions. That governance structure should be composed of an Advisory Board, a Steering Board and a fully independent Investment Committee.
Amendment 221 #
(42) An Advisory Board consisting of representatives of the implementing partners, representatives of Member States, one expert appointed by the European Economic and Social Committee and one expert appointed by the Committee of the Regions should be established in order to exchange information and exchange views on the take-up of the financial products deployed under the InvestEU Fund and to discuss evolving needs and new products, including specific territorial market gaps. A trade union representative - without the right to vote - can be appointed in the advisory board. It will be appointed by the European Commission on proposal of the European social partner that represent labour.
Amendment 222 #
Proposal for a regulation Recital 42 (42) An Advisory Board consisting of representatives of the implementing partners, representatives of Member States, one expert appointed by the European Economic and Social Committee and one expert appointed by the Committee of the Regions should be established in order to exchange information and exchange views on the take-up of the financial products deployed under the InvestEU Fund and to discuss evolving needs and new products, including specific territorial market gaps. A trade union representative without the right of vote can be appointed in the Advisory Board by the Commission on proposal of the European social partner that represents labour.
Amendment 223 #
Proposal for a regulation Recital 44 (44) A gender balanced Steering Board composed of representatives of the Commission, representatives of implementing partners and one non-voting expert appointed by the European Parliament should determine the strategic and operational guidance for the InvestEU Fund.
Amendment 224 #
Proposal for a regulation Recital 45 (45) The Commission should assess the compatibility of investment and financing operations submitted by the implementing partners with all Union law and policies and their alignment with the Do No Significant Harm Principle established in the Taxonomy Regulation. The decisions on financing and investment operations should ultimately be taken by an implementing partner.
Amendment 225 #
Proposal for a regulation Recital 45 (45) The Commission should assess the compatibility of investment and financing operations submitted by the implementing partners with all Union law and policies, particularly the Do No Significant Harm principle laid out in the EU Taxonomy Regulation. The decisions on financing and investment operations should ultimately be taken by an implementing partner.
Amendment 226 #
Proposal for a regulation Recital 46 (46) An Investment Committee composed of independent experts should conclude on the granting of the support from the EU guarantee to financing and investment operations fulfilling the eligibility criteria, particularly the Do No Significant Harm principle, thereby providing external expertise in investment assessments in relation to projects. The investment committee should have different configurations to cover different policy areas and sectors in the best way possible.
Amendment 227 #
Proposal for a regulation Recital 47 (47) The Investment Committee should become responsible as of its constitution also for granting the benefit of the EU guarantee for financing and investment operations under Regulation (EU) 2015/1017 in order to avoid parallel similar structures assessing proposals for the use of the EU guarantee, after relevant consultations with all interested parties and in full transparency and accountability.
Amendment 228 #
Proposal for a regulation Recital 47 (47) The Investment Committee should become responsible as of its constitution also for granting the benefit of the EU guarantee for financing and investment operations under Regulation (EU) 2015/1017 in order to avoid parallel similar structures assessing proposals for the use of the EU guarantee, and consult experts from climate, environmental and civil society organisations.
Amendment 229 #
Proposal for a regulation Recital 49 (49) In selecting implementing partners for the deployment of the InvestEU Fund, the Commission should consider the counterparty's ability to fulfil the objectives of the InvestEU Fund and to contribute its own resources, in order to ensure adequate geographical coverage, gender balance and diversification, to crowd in private investors and to provide sufficient risk diversification and solutions to address market failures and sub-optimal investment situations. Given its role under the Treaties, its capacity to operate in all Member States and the existing experience under the current financial instruments and the EFSI, the EIB Group should remain a privileged implementing partner under the InvestEU Fund's EU compartment. In addition to the EIB Group, national promotional banks or institutions should be able to offer a complementary financial product range, given that their experience and capabilities at national and regional level could be beneficial for the maximisation of the impact of public funds on the whole territory of the Union, and for ensuring a fair geographical balance of projects. The InvestEU Programme should be implemented in such a way as to promote a level playing field for smaller and younger promotional banks and institutions. Moreover, it should be possible for other international financial institutions to become implementing partners, in particular when they present a comparative advantage in terms of specific expertise and experience in certain Member States and when they present a Union majority of shareholding. It should also be possible for other entities fulfilling the criteria laid down in the Financial Regulation to become implementing partners.
Amendment 230 #
Proposal for a regulation Recital 53 Amendment 231 #
Proposal for a regulation Recital 55 (55) The InvestEU Advisory Hub should support the development of a robust pipeline of investment projects in each policy window through advisory initiatives that are implemented by the EIB Group or other advisory partners, or are implemented directly by the Commission. The InvestEU Advisory Hub should promote geographic diversification with a view to contributing to the Union objectives of economic, social, and
Amendment 232 #
Proposal for a regulation Recital 55 (55) The InvestEU Advisory Hub should support the development of a robust pipeline of investment projects in each policy window through advisory initiatives and local level project nurseries bringing together innovators, project promoters and financiers that are implemented by the EIB Group or other advisory partners, or are implemented directly by the Commission. The InvestEU Advisory Hub should promote geographic diversification with a view to contributing to the Union objectives of climate neutrality, the Green Deal, economic, social, and territorial cohesion and reducing regional disparities. The InvestEU Advisory Hub should pay particular attention to the aggregation of small-sized projects into larger portfolios. The Commission, the EIB Group and the other advisory partners should cooperate closely with a view to ensuring efficiency, synergies and effective geographic coverage of support across the Union, taking into account the expertise and local capacity of local implementing partners, as well as the European Investment Advisory Hub established under Regulation (EU) 2015/1017 of the European Parliament and of the Council34 . In addition, the InvestEU Advisory Hub should provide a central entry point for project development assistance delivered under the InvestEU Advisory Hub to public authorities and for project promoters. _________________ 34Regulation (EU) 2015/1017 of the European Parliament and of the Council of 25 June 2015 on the European Fund for Strategic Investments, the European Investment Advisory Hub and the European Investment Project Portal and
Amendment 233 #
Proposal for a regulation Recital 55 (55) The InvestEU Advisory Hub should support the development of a robust pipeline of investment projects in each policy window through advisory initiatives that are implemented by the EIB Group or other advisory partners, or are implemented directly by the Commission. The InvestEU Advisory Hub should promote geographic diversification with a view to contributing to the Union objectives of economic, social, and territorial cohesion and reducing regional disparities, including the possibility of prioritizing the allocation of its technical support and assistance to underdeveloped regions. . The InvestEU Advisory Hub should pay particular attention to the aggregation of small-sized projects into larger portfolios. The Commission, the EIB Group and the other advisory partners should cooperate closely with a view to ensuring efficiency, synergies and effective geographic coverage of support across the Union, taking into account the expertise and local capacity of local implementing partners, as well as the European Investment Advisory Hub established under Regulation (EU) 2015/1017 of the European Parliament and of the Council34 . In addition, the InvestEU Advisory Hub should provide a central entry point for project development assistance delivered under the InvestEU Advisory Hub to public authorities and for project promoters.
Amendment 234 #
Proposal for a regulation Recital 57 (57) In order to ensure a wide geographic outreach of the advisory services across the Union and to successfully leverage local knowledge about the InvestEU Fund, a local presence of the InvestEU Advisory Hub should be ensured, where needed, taking into account existing support schemes and the presence of local partners, with a view to provide tangible, proactive, tailor-made assistance on the ground. In order to facilitate the provision of advisory support at local level and to ensure efficiency, synergies and effective geographic coverage of support across the Union, the InvestEU Advisory Hub should cooperate with national promotional banks or institutions, and should benefit from and make use of their expertise, and create local and regional level project nurseries bringing together innovators, project promoters and financiers, and helping the projects to become eligible for financing.
Amendment 235 #
Proposal for a regulation Recital 59 (59) In the context of the InvestEU Fund, there is a need to provide support for project development and capacity building to develop the organisational capacities and market development activities needed to originate quality projects. Such support should also target financial intermediaries that are key to help
Amendment 236 #
Proposal for a regulation Recital 59 (59) In the context of the InvestEU Fund, there is a need to provide support for project development and capacity building to develop the organisational capacities and market development activities needed to originate quality projects. Such support should also target financial intermediaries that are key to help small companies’ access financing and realise their full potential, and it should include technical assistance. Particular emphasis should be put on reducing the administrative burden, in particular for SMEs. Moreover, the aim of the advisory support is to create the conditions for the expansion of the potential number of eligible recipients in nascent market segments, in particular where the small size of individual projects considerably raises the transaction cost at the project level, such as for the social finance ecosystem, including philanthropic organisations, or for the cultural and creative sectors. The capacity- building support should be complementary and in addition to actions taken under other Union programmes that cover specific policy areas. An effort should also be made to support the capacity building of potential project promoters, in particular local organisations and authorities.
Amendment 237 #
Proposal for a regulation Recital 59 (59) In the context of the InvestEU Fund, there is a need to provide support for project development and capacity building to develop the organisational capacities and market development activities needed to originate quality projects. Such support should also target financial intermediaries that are key to help small companies’ a
Amendment 238 #
Proposal for a regulation Recital 59 (59) In the context of the InvestEU Fund, there is a need to provide support for project development and capacity building to develop the organisational capacities and market development activities needed to originate quality projects. Such support
Amendment 239 #
Proposal for a regulation Recital 59 (59) In the context of the InvestEU Fund, there is a need to provide support for project development and capacity building to develop the organisational capacities and market development activities needed to originate quality projects. Such support should also target financial intermediaries that are key to help small companies’ access financing and realise their full potential. and it should include technical assistance, in particular for the Member States with weak financial ecosystems. Moreover, the aim of the advisory support is to create the conditions for the expansion of the potential number of eligible recipients in nascent market
Amendment 240 #
Proposal for a regulation Recital 59 (59) In the context of the InvestEU Fund, there is a need to provide support for project development and capacity building to develop the organisational capacities and market development activities needed to originate quality projects. Such support should also target financial intermediaries that are key to help
Amendment 241 #
Proposal for a regulation Recital 60 (60) The InvestEU Portal should be established to provide for an easily accessible and user-friendly project database and a public EU sustainability data register to promote visibility of investment projects searching for financing with enhanced focus on the provision of a possible pipeline of investment projects, compatible with Union law and policies, to the implementing partners.
Amendment 242 #
Proposal for a regulation Recital 61 Amendment 243 #
Proposal for a regulation Recital 61 (61) In accordance with Regulation [European Union Recovery Instrument] and within the limits of resources allocated therein, recovery and resilience measures under the InvestEU should be carried out to address the unprecedented impact of the Covid-19 crisis and provide European citizen with long-term environmental and societal benefits such as high quality long-term jobs and public infrastructure, including through supporting companies' sustainable and digital transitions. Such additional resources should be used in such a way as to ensure compliance with the time limits provided for in Regulation [EURI].
Amendment 244 #
Proposal for a regulation Recital 61 (61) In accordance with Regulation [European Union Recovery Instrument] and within the limits of resources allocated
Amendment 245 #
Proposal for a regulation Recital 61 (61) In accordance with Regulation [European Union Recovery Instrument] and within the limits of resources allocated therein, recovery and resilience measures under the InvestEU should be carried out to address the unprecedented impact of the Covid-19 crisis. Such additional resources should be used in such a way as to ensure compliance with the time limits provided for in Regulation [EURI]. These time limits should apply to the conclusion of the guarantee agreements with the implementing partners.
Amendment 246 #
Proposal for a regulation Recital 61 (61) In accordance with Regulation [European Union Recovery Instrument] and within the limits of resources allocated therein, recovery and resilience measures under the InvestEU should be carried out to address the unprecedented impact of the Covid-19 crisis and to strengthen the European economy in the long term. Such additional resources should be used in such a way as to ensure compliance with the time limits provided for in Regulation [EURI].
Amendment 247 #
Proposal for a regulation Recital 62 (62) Pursuant to paragraphs 22 and 23 of the Interinstitutional agreement for Better Law-Making of 13 April 201635 , there is a need to evaluate the InvestEU Programme on the basis of information collected through specific monitoring requirements, while avoiding overregulation and administrative burdens, in particular on Member States. These requirements
Amendment 248 #
Proposal for a regulation Recital 62 (62) Pursuant to paragraphs 22 and 23 of the Interinstitutional agreement for Better Law-Making of 13 April 201635 , there is a need to evaluate the InvestEU Programme on the basis of information collected through specific monitoring requirements, while avoiding overregulation and administrative burdens, in particular on Member States. These requirements, where appropriate, can include measurable indicators, including sustainability indicators, as a basis for evaluating the effects of the InvestEU Programme on the ground. _________________ 35 OJ L 123, 12.5.2016, p. 1.
Amendment 249 #
Proposal for a regulation Recital 63 (63) A solid monitoring framework that is based on output, outcome and impact indicators should be implemented to track progress towards the Union's objectives. In order to ensure transparency and accountability to the Union's citizens, the Commission should report annually to the European Parliament and the Council on the progress, social, economic and environmental impact and operations of the InvestEU Programme. Where necessary, these annual reports should be accompanied by legislative proposals for amending this Regulation.
Amendment 250 #
Proposal for a regulation Recital 64 (64) Horizontal financial rules adopted by the European Parliament and the Council on the basis of Article 322 of the Treaty on the Functioning of the European Union (TFEU) apply to this Regulation. These rules are laid down in the Financial Regulation and determine in particular the procedure for establishing and implementing the budget through grants, procurement, prizes, indirect implementation, and provide for checks on the responsibility of financial actors.
Amendment 251 #
Proposal for a regulation Recital 67 (67) Third countries which are members of the European Economic Area (EEA) may participate in Union programmes in the framework of the cooperation established under the EEA agreement, which provides for the implementation of the programmes by a decision under that agreement.
Amendment 252 #
Proposal for a regulation Article 2 – paragraph 1 – point 2 (2) 'EU guarantee' means a
Amendment 253 #
(5) 'blending operation' means an operation supported by the Union budget that combines non-repayable forms of support, repayable forms of support, or both, from the Union budget with repayable forms of support from development or other public finance institutions, or from commercial finance institutions and investors;
Amendment 254 #
Proposal for a regulation Article 2 – paragraph 1 – point 9 (9) 'contribution agreement' means a legal instrument whereby the Commission and one or more Member States specify the conditions of the EU guarantee under the Member State compartment and under a national transition plan that ensure that investments comply and significantly contribute climate and other environmental objectives in line with the EU Taxonomy and the Do No Significant Harm principle, as laid down in Article 9;
Amendment 255 #
Proposal for a regulation Article 2 – paragraph 1 – point 9 a (new) (9 a) ‘do no significant harm’ principle means refraining from inflicting ‘significant harm to environmental objectives’ as defined in Article 17 of the Regulation on the establishment of a framework to facilitate sustainable investment;
Amendment 256 #
Proposal for a regulation Article 2 – paragraph 1 – point 15 (15) ‘Important Project of Common European Interest’ means a project that fulfils all the criteria laid down in Commission Communication on Criteria for the analysis of the compatibility with the internal market of State aid to promote the execution of important projects of common European interest (OJ C 188, 20.6.2014, p. 4) or any subsequent revision in compliance with the Union’s climate and environmental goals, with specific consideration of the Regulation on the establishment of a framework to facilitate sustainable investment and increased transparency in their implementation;
Amendment 257 #
Proposal for a regulation Article 2 – paragraph 1 – point 21 (21) ‘investment guidelines’ means the guidelines established by a delegated act referred to in Article 7(7), and shall specify how to comply and significantly contribute climate and other environmental objectives in line with the EU Taxonomy and the Do No Significant Harm principle;
Amendment 258 #
Proposal for a regulation Article 2 – paragraph 1 – point 24 a (new) (24 a) ‘Resilience’ means the ability to face societal, economic and ecological shocks and persistent structural changes in a sustainable way in order to preserve societal well-being, without compromising the heritage for future generations.
Amendment 259 #
Proposal for a regulation Article 2 – paragraph 1 – point 28 a (new) Amendment 260 #
Proposal for a regulation Article 2 – paragraph 1 – point 28 a (new) (28 a) ‘companies’ means for the purposes of the solvency support window companies, project companies, public- private partnerships and other legal structures.
Amendment 261 #
Proposal for a regulation Article 3 – paragraph 1 – introductory part 1. The general objective of the InvestEU Programme is to support the policy objectives of the Union by means of financing and investment operations that
Amendment 262 #
Proposal for a regulation Article 3 – paragraph 1 – point a (a) the competitiveness of the Union, including growth, research, innovation and digitisation;
Amendment 263 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) growth and employment in the Union economy, the sustainability of the Union economy and its environmental and climate dimension contributing to the achievement of the SDGs and the objectives of the Paris Agreement on Climate Change, to the green transition towards a circular and climate-neutral economy, the attainment of the mid- and long-term climate, energy and environmental objectives of the Union and to the creation of high-quality jobs;
Amendment 264 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b)
Amendment 265 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) growth and employment in the Union economy, the sustainability of the Union economy and its environmental and climate dimension contributing to the achievement of the SDGs and the objectives of the Paris Agreement on Climate Change and to the creation of high-quality jobs; including actions and measures that mitigate impact on the workforce and protect workers who are negatively affected by productive transitions.;
Amendment 266 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) growth and employment in the Union economy, the sustainability of the Union economy and its environmental and climate dimension
Amendment 267 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) growth and employment in the Union economy, the sustainability of the Union economy and
Amendment 268 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) growth and employment in the Union economy, the sustainability of the Union economy and its environmental and climate
Amendment 269 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b)
Amendment 270 #
Proposal for a regulation Article 3 – paragraph 1 – point b (b) growth and employment in the Union economy, job-creation, the sustainability of the Union economy and its environmental and climate dimension contributing to the achievement of the SDGs and the objectives of the Paris Agreement on Climate Change and to the creation of high-quality jobs;
Amendment 271 #
Proposal for a regulation Article 3 – paragraph 1 – point c (c) the social fairness, resilience, inclusiveness, sustainability and innovativeness of the Union, having regard to the European Pillar of Social Rights;
Amendment 272 #
Proposal for a regulation Article 3 – paragraph 1 – point c (c) the social resilience, equality between women and men in the labour market, inclusiveness and innovativeness of the Union and gender equality;
Amendment 273 #
Proposal for a regulation Article 3 – paragraph 1 – point c (c) the social resilience, inclusiveness and innovativeness of the Union; , having regard to the European Pillar of Social Rights;
Amendment 274 #
Proposal for a regulation Article 3 – paragraph 1 – point d (d) the promotion of scientific and technological advances, of
Amendment 275 #
Proposal for a regulation Article 3 – paragraph 1 – point e (e) the integration of Union capital markets and the strengthening of the Single Market, including solutions to address the fragmentation of Union capital markets, diversify sources of financing for Union enterprises, especially SMEs, and promote sustainable
Amendment 276 #
Proposal for a regulation Article 3 – paragraph 1 – point f (f) the promotion of economic, social and territorial cohesion;
Amendment 277 #
Proposal for a regulation Article 3 – paragraph 1 – point f (f) t
Amendment 278 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable and inclusive recovery of the Union economy after the crisis caused by the Covid-19 pandemic,
Amendment 279 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable and inclusive recovery of the Union economy. and in particular of its SMEs. after the crisis caused by the Covid-19 pandemic, upholding and strengthening industrial eco-systems and strategic value chains and creating, maintaining and reinforcing activities of strategic importance to the Union in relation to raw materials its strategic value chains and maintaining and reinforcing activities of strategic importance to the Union in relation to critical infrastructure, transformative technologies, game-changing innovations and inputs to businesses and consumers.
Amendment 280 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable and inclusive recovery of the Union economy after the crisis caused by the Covid-19 pandemic, upholding and strengthening its strategic value chains and maintaining and reinforcing activities of strategic importance to the Union in relation to critical infrastructure, transformative technologies, game-changing innovations and inputs to businesses and consumers and supporting the sustainable transition in line with the EU Taxonomy, based on time-bound and science-based targets.
Amendment 281 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable and inclusive recovery of the Union economy after the crisis caused by the Covid-19 pandemic, upholding and strengthening its strategic value chains of tangible and intangible assets and maintaining and reinforcing activities of strategic importance to the Union in relation to critical infrastructure, whether physical or virtual or based on intellectual property, transformative technologies, game-changing innovations
Amendment 282 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable and inclusive recovery of the Union economy after the crisis caused by the national and regional lockdown measures following the Covid- 19 pandemic, upholding and strengthening its strategic value chains and maintaining and reinforcing activities of strategic importance to the Union in relation to critical infrastructure, transformative technologies, game-changing innovations and inputs to businesses and consumers.
Amendment 283 #
Proposal for a regulation Article 3 – paragraph 1 – point g (g) the sustainable, economy-driven and inclusive recovery of the Union economy after the crisis caused by the Covid-19 pandemic, upholding and strengthening
Amendment 284 #
Proposal for a regulation Article 3 – paragraph 2 – introductory part 2. The InvestEU Programme has the following specific objectives, with due attention to the principle and pursuit of equality between women and men:
Amendment 285 #
Proposal for a regulation Article 3 – paragraph 2 – point b (b) supporting financing and investment operations in line with the EU Taxonomy and the Do No Significant Harm principle, as well as related to research, innovation and digitisation, including support for the scaling up of innovative companies and the rolling out of technologies to market, in the areas referred to in point (b) of Article 7(1);
Amendment 286 #
(c) increasing the access to and the availability of finance for SMEs and for small mid-cap companies and to enhance the global competitiveness of such SMEs and small mid-cap companies;
Amendment 287 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) increasing the access to and the availability of finance for SMEs and for small mid-cap companies and
Amendment 288 #
Proposal for a regulation Article 3 – paragraph 2 – point c (c) increasing the access to and the availability of finance
Amendment 289 #
Proposal for a regulation Article 3 – paragraph 2 – point e (e) to support financing and investment operations in sectors referred to in point (e) of Article 7(1) in order to maintain and reinforce the strategic autonomy and sustainability of the Union and of its economy consistent with the energy and climate legislation and the 2030 and 2050 energy and climate targets, the European Pillar of Social Rights, the objectives of green and digital transitions, technological autonomy, sustainable and inclusive growth, economic, social and territorial cohesion, quality job creation as well as research and innovation.
Amendment 290 #
Proposal for a regulation Article 3 – paragraph 2 – point e (e) to support financing and investment operations in sectors referred to in point (e) of Article 7(1) in order to maintain and reinforce the strategic autonomy of the Union and of its economy, as well as to reinforce resilience to economic shocks.
Amendment 291 #
(e) to support financing and investment operations in sectors referred to in point (e) of Article 7(1) in order to maintain and reinforce the
Amendment 292 #
Proposal for a regulation Article 3 – paragraph 2 – point e a (new) (ea) investments by private entities implemented in partnership with general government, including local government, for the upgrading of public urban areas and green spaces, urban regeneration and the supply of public-interest services.
Amendment 293 #
Proposal for a regulation Article 3 – paragraph 2 – point e a (new) (e a) to support the solvency of companies established in a Member State and operating in the Union supporting any of the objectives referred to in this paragraph.
Amendment 294 #
Proposal for a regulation Article 3 – paragraph 2 – point e a (new) (e a) supporting the creation of new jobs
Amendment 295 #
Proposal for a regulation Article 3 – paragraph 2 a (new) 2 a. While recognising the demand- driven nature of the InvestEU, the EIB shall: (a) target that at least 40 % of InvestEU financing under the infrastructure and innovation window support project components that contribute to climate action, in line with the commitments made at the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP21).InvestEU financing for SMEs and small mid- cap companies shall not be included in that computation.The EIB shall use its internationally agreed methodology to identify those climate action project components or cost shares; (b) ensure that the majority of InvestEU financing under the solvency support window is utilised to support eligible companies in Member States and sectors economically most hit by the Covid-19 pandemic; (c) ensure that the majority of InvestEU financing under the solvency support window is utilised to support eligible companies in Member States where the availability of State solvency support is more limited. The Steering Board shall, where necessary, provide detailed guidance concerning points (a) to (c).
Amendment 296 #
Proposal for a regulation Article 4 – paragraph 1 – introductory part 1. The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR 75 153 8
Amendment 297 #
Proposal for a regulation Article 4 – paragraph 1 – introductory part 1. The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR
Amendment 298 #
Proposal for a regulation Article 4 – paragraph 1 – introductory part 1. The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR
Amendment 299 #
Proposal for a regulation Article 4 – paragraph 1 – introductory part 1. The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR
Amendment 300 #
Proposal for a regulation Article 4 – paragraph 1 – introductory part 1. The EU guarantee for the purposes of the EU compartment referred to in point (a) of Article 8(1) shall be EUR
Amendment 301 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 1 An additional amount of the EU guarantee may be provided for the purposes of the Member State compartment referred to in point (b) of Article 8(1), subject to the allocation by Member States, pursuant to [Article 10(1)] of Regulation [[CPR] number]44 and Article [75(1)] of Regulation [[CAP Strategic Plan] number]45 and in accordance with the implementation of the relevant measures in recovery and resilience plans under Regulation [Recovery and Resilience Facility ] , of the corresponding amounts.
Amendment 302 #
Proposal for a regulation Article 4 – paragraph 1 – subparagraph 2 a (new) Financial contributions by Member States under the Member State compartment, including contributions in the form of guarantees and cash or any contributions to investment platforms, shall be fully deducted from the relevant deficit targets of the Stability and Growth Pact.
Amendment 303 #
Proposal for a regulation Article 4 – paragraph 2 – introductory part 2. An amount of EUR 31 153 850 000 (current prices) of the amount referred to in the first subparagraph of paragraph 1 shall be allocated for operations implementing measures referred to in Article 2 of Regulation [EURI] for the objectives referred to in point (e) of Article 3(2). That amount should prioritize initiatives contributing to saving lives in the short, mid- and long term, and dedicate a share of at least 25% to energy efficiency and renewable energy projects to trigger a EU Renovation Wave, a Solar Rooftop initiative and to support the offshore renewable energy strategy, as well as ensure adequate support to the challenges of climate emergency and digitalization.
Amendment 304 #
Proposal for a regulation Article 4 – paragraph 2 – introductory part 2. An amount of EUR
Amendment 305 #
Proposal for a regulation Article 4 – paragraph 2 – subparagraph 1 An amount of EUR 41 500 000 000 (current prices) of the amount referred to in the first subparagraph of paragraph 1 shall be allocated for operations implementing measures referred to in Article 2 of Regulation [EURI] for the objectives referred to in points (a)-(d) of Article 3(2), while dedicating a share of at least 25% to energy efficiency and renewable energy projects.
Amendment 306 #
An amount of EUR 41 500 0
Amendment 307 #
Proposal for a regulation Article 4 – paragraph 2 – subparagraph 1 An amount of EUR
Amendment 308 #
Proposal for a regulation Article 4 – paragraph 2 – subparagraph 2 An amount of EUR
Amendment 309 #
Proposal for a regulation Article 4 – paragraph 2 – subparagraph 4 Amendment 310 #
Proposal for a regulation Article 4 – paragraph 2 – subparagraph 4 The indicative distribution of the EU guarantee for the purpose of the EU compartment is set out in Annex I to this Regulation while dedicating a share of at least 25% to energy efficiency and renewable energy projects per policy window. Where appropriate, the Commission may modify the amounts referred to in Annex I and increase the amount referred to in the first subparagraph by up to 15 % for each objective. The Commission shall inform the European Parliament and the Council of any such
Amendment 311 #
Proposal for a regulation Article 4 – paragraph 2 – subparagraph 4 The indicative distribution of the EU guarantee for the purpose of the EU compartment is set out in Annex I to this Regulation. Where appropriate, the Commission may modify the amounts referred to in Annex I and increase the
Amendment 312 #
Proposal for a regulation Article 4 – paragraph 3 3. The financial envelope for the implementation of the measures provided in Chapters VI and VII shall be EUR 7
Amendment 313 #
Proposal for a regulation Article 4 – paragraph 4 a (new) 4 a. Where the grants, as referred to in Article 3(2)(a) of Regulation [EURI], have not been used in their entirety by 31 December 2023, part of the unused amount, up to a maximum amount of EUR 10 000 000 000 (in current prices), shall be made available to the InvestEU Fund, for the provisioning of the EU guarantee for the period 2024-2027, in accordance with Article X of Regulation [EURI]. The amount of the EU guarantee, as referred to in the first subparagraph of paragraph 1, and the distribution of the EU guarantee set out in Annex I shall be adjusted upwards accordingly.
Amendment 314 #
Proposal for a regulation Article 5 – paragraph 1 – point a Amendment 315 #
Proposal for a regulation Article 5 – paragraph 1 – point b Amendment 316 #
Proposal for a regulation Article 5 – paragraph 1 – point b (b) acceding countries,
Amendment 317 #
Proposal for a regulation Article 5 – paragraph 1 – point c Amendment 318 #
Proposal for a regulation Article 5 – paragraph 1 – point c Amendment 319 #
Proposal for a regulation Article 5 – paragraph 1 – point d Amendment 320 #
Proposal for a regulation Article 5 – paragraph 1 – point d Amendment 321 #
Proposal for a regulation Article 5 – paragraph 1 – point d – point iv a (new) (iva) guarantees conditions of reciprocity and the protection of the strategic assets of the Member States of the Union.
Amendment 322 #
Proposal for a regulation Article 5 – paragraph 1 a (new) The EU compartment of the Invest EU Fund referred to in point (a)of Article 8(1) and each of the policy windows referred to in Article 7(1) may receive contributions from European Free Trade Association (EFTA) members which are members of the European Economic Area (EEA), in accordance with the conditions laid down in the Agreement on the European Economic Area, for the purpose of participation in certain financial products pursuant to Article 218(2) of the Financial Regulation.
Amendment 323 #
Proposal for a regulation Article 6 – paragraph 2 – point a (a) be consistent with the policy objectives, the Do No Significant Harm principle and comply with the eligibility criteria set out in the rules of the Union programme under which the support is decided;
Amendment 324 #
Proposal for a regulation Article 7 – paragraph 1 – introductory part 1. The InvestEU Fund shall operate through the following
Amendment 325 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) a sustainable infrastructure policy window which comprises sustainable investment in the areas of transport, including multimodal transport, infrastructure facilitating the modal shift road safety, including in accordance with the Union objective of eliminating fatal road accidents and serious injuries by 2050, the renewal and maintenance of rail and road infrastructure, the extension of rail including night trains, public transport infrastructure, energy, in particular renewable energy, energy efficiency in accordance with the 2030 energy framework, buildings renovation projects focused on energy savings and the integration of buildings into a connected energy, storage, digital and transport systems, improving interconnection levels, digital connectivity and access, including in rural areas, supply and processing of raw materials, space, oceans, water, including inland waterways, waste management in accordance with the waste hierarchy and the circular economy, nature and other environment infrastructure, cultural heritage, sustainable tourism, equipment, mobile assets and the deployment of innovative technologies that contribute to the environmental or climate resilience or social sustainability objectives of the Union and that meet the environmental or
Amendment 326 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) a
Amendment 327 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) a sustainable infrastructure policy window which comprises sustainable investment in the areas of transport, including multimodal transport, road safety, including in accordance with the Union objective of eliminating fatal road accidents and serious injuries by 2050, the renewal and maintenance of rail and road infrastructure, energy, in particular renewable energy, energy efficiency in accordance with the 2030 energy framework and the EU's climate neutrality goal, based on time-bound and science-based targets, buildings renovation projects focused on energy savings and the integration of buildings into a connected energy, storage, digital and transport systems, improving interconnection levels, digital connectivity and access, including
Amendment 328 #
Proposal for a regulation Article 7 – paragraph 1 – point a Amendment 329 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) a sustainable infrastructure policy window which comprises sustainable investment in the areas of transport, including multimodal transport, road safety, including in accordance with the Union objective of eliminating fatal road accidents and serious injuries by 2050, the renewal and maintenance of rail and road infrastructure, the health care infrastructure, including building hospitals, energy, in particular renewable energy, energy efficiency in accordance with the 2030 energy framework, buildings renovation projects focused on energy savings and the integration of buildings into a connected energy, storage, digital and transport systems, improving interconnection levels, digital connectivity and access, including in rural areas, supply and processing of raw materials, space, oceans, water, including inland waterways, waste management in accordance with the waste hierarchy and the circular economy, nature and other environment infrastructure, cultural heritage, tourism, equipment, mobile assets and the deployment of innovative technologies that contribute to the
Amendment 33 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major symmetric shock to the global and Union economy with major asymmetric social and economic impact across Member States and regions. Due to the necessary containment measures, economic activity in the EU dropped significantly.
Amendment 330 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) a sustainable infrastructure policy window which comprises sustainable investment in the areas of transport, including multimodal transport, road safety, including in accordance with the Union objective of eliminating fatal road accidents and serious injuries by 2050 at the latest, the renewal and maintenance of rail and road infrastructure, energy, in particular renewable energy, energy efficiency in accordance with the 2030 energy framework and tackling energy poverty, buildings renovation projects focused on energy savings and the integration of buildings into a connected energy, storage, digital and transport systems, improving interconnection levels, digital connectivity and access, including in rural areas, supply and processing of raw materials, space, oceans, water, including inland waterways, waste management in accordance with the waste hierarchy and the circular economy, nature and other environment infrastructure, cultural heritage, sustainable tourism, equipment, mobile assets and the deployment of innovative technologies that contribute to the environmental or climate resilience or social sustainability objectives of the Union and that meet the environmental or social sustainability standards of the
Amendment 331 #
Proposal for a regulation Article 7 – paragraph 1 – point a (a) a sustainable infrastructure policy window which comprises sustainable investment in the areas of transport, including multimodal transport, road safety, including in accordance with the Union objective of eliminating fatal road accidents and serious injuries by 2050, the renewal and maintenance of rail and road infrastructure, energy, in particular renewable energy, energy efficiency in accordance with the 2030 energy framework, buildings renovation projects focused on energy savings and the integration of buildings into a connected energy, storage, digital and transport systems, improving interconnection levels, digital connectivity and access, including in rural areas, supply and processing of raw materials, space, oceans, water, including inland waterways, waste utilisation and management in accordance with the waste hierarchy and the circular economy, nature and other environment infrastructure, cultural heritage, tourism, equipment, mobile assets and the deployment of innovative technologies that contribute to the environmental or climate resilience or social sustainability objectives of the Union and that meet the environmental or social sustainability standards of the Union;
Amendment 332 #
Proposal for a regulation Article 7 – paragraph 1 – point a a (new) (a a) innovations supporting, enabling and accelerating the green transition towards climate neutral, circular and sustainable economy in line with the EU Taxonomy and the Do No Significant Harm principle, measured by time-bound and science-based targets.
Amendment 333 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) a research, innovation and digitisation policy window which comprises research, product development and innovation activities, the transfer of technologies and research results to the market to support market enablers and cooperation between enterprises, the demonstration and deployment of innovative solutions and support for the scaling up of innovative companies, as well as digitisation of Union industry, at least 30% of the volume of loans under this policy window shall be attributed to women led enterprises;
Amendment 334 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) a research, innovation and digitisation policy window which comprises research, product development and innovation activities, the transfer of technologies and research results to the market to support market enablers and cooperation between enterprises, support for digital literacy, the demonstration and deployment of innovative solutions and support for the scaling up of innovative companies, as well as digitisation of
Amendment 335 #
Proposal for a regulation Article 7 – paragraph 1 – point b (b) a research, innovation and digitisation policy window which comprises research, product development and innovation activities, the transfer of technologies and research results to the market to support market enablers and cooperation between enterprises, the demonstration and deployment of innovative solutions and support for the scaling up of innovative companies, as well as digitisation of Union industry, with due regard to the gender digital gap;
Amendment 336 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) an SME policy window which comprises access to and the availability of finance primarily for SMEs, including for innovative SMEs and SMEs operating in the cultural and creative sectors, as well as for small mid-cap companies, at least 30% of the volume of loans under this policy window shall be attributed to women led SME’s;
Amendment 337 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) an SME policy window which comprises access to and the availability of finance primarily for SMEs, with due regard to women led SMEs, including for innovative SMEs and SMEs operating in the cultural and creative sectors, as well as for small mid-cap companies;
Amendment 338 #
Proposal for a regulation Article 7 – paragraph 1 – point c (c) an SME policy window which comprises access to and the availability of finance primarily for SMEs, including for innovative SMEs and SMEs operating in the cultural
Amendment 339 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) a social investment and skills policy window, which comprises microfinance, social enterprise finance, social economy and measures to promote
Amendment 34 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of
Amendment 340 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) a social investment and skills policy window, which comprises microfinance, social enterprise finance, social economy and measures to promote gender equality, skills, education, training and related services, social infrastructure, including public health and educational infrastructure and social and student housing, social innovation, public health and long-term care with a special focus on children and vulnerable groups, inclusion and accessibility, cultural and creative activities with a social goal, and the integration of vulnerable people, including third country nationals;
Amendment 341 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) a social investment and skills policy window, which comprises microfinance, social enterprise finance, social economy and measures to promote gender equality, skills, education, training and related services, social infrastructure, including health and educational infrastructure and social and student housing, social innovation, health and long-term care, inclusion and accessibility, cultural and creative activities with a social goal, and the integration of vulnerable people, including the elderly and third country nationals;
Amendment 342 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) a social investment and skills policy window, which comprises microfinance, social enterprise finance, social economy
Amendment 343 #
Proposal for a regulation Article 7 – paragraph 1 – point d (d) a social investment and skills policy window, which comprises microfinance, social enterprise finance, social economy and measures to
Amendment 344 #
Proposal for a regulation Article 7 – paragraph 1 – point e – introductory part (e) a strategic European investment policy window which comprises strategic investment to support final recipients that are established in a Member State and that operate in the Union,
Amendment 345 #
Proposal for a regulation Article 7 – paragraph 1 – point e – introductory part (e) a strategic European investment policy window which comprises strategic investment to support final recipients that are established in a Member State and that operate in the Union, and whose activities are of strategic importance to the Union in line with the priorities described in the New Industrial Strategy for a green and digital Europe, and the development model based on industrial ecosystems. The window should support projects that enhance the competitiveness of the Member States' economies, foster entrepreneurship and decrease dependence on vulnerable supply chains, in particular in view of the green and digital transitions and of enhanced resilience, in one of the following areas:
Amendment 346 #
Proposal for a regulation Article 7 – paragraph 1 – point e – introductory part (e) a strategic European investment policy window which comprises strategic investment to support final recipients that are established in
Amendment 347 #
Proposal for a regulation Article 7 – paragraph 1 – point e – introductory part (e) a strategic European investment policy window which comprises strategic investment to support final recipients that are established in a Member State and that operate in the Union, and whose activities are of strategic importance to the Union, in particular in view of the
Amendment 348 #
Proposal for a regulation Article 7 – paragraph 1 – point e – introductory part (e) a strategic European investment policy window which comprises strategic investment to support final recipients that are established in a Member State and that operate in the Union, and whose activities are of strategic importance to the Union, in particular in view of the Union's recovery needs from the COVID-19 pandemic, the green and digital transitions and of enhanced resilience, in one of the following areas:
Amendment 349 #
Proposal for a regulation Article 7 – paragraph 1 – point e – introductory part (e) a strategic European investment policy window which comprises strategic investment to support final recipients that are established in a Member State and that operate in the Union, and whose activities are of strategic importance to the Member States of the Union, in particular in view of the
Amendment 35 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of strategic industries on non-diversified external supply sources. Such vulnerabilities need to be addressed, in particular for small and medium-sized enterprises (SMEs) and micro-scale businesses, to improve the Union’s emergency response as well as the resilience, cohesion, digitization and sustainability of the entire economy, while maintaining its openness to competition and trade in line with its rules to improve the Union’s emergency response as well as the resilience of the entire economy, while maintaining its openness to competition and trade in line with its rules. Investment activity is expected to have dropped significantly. Even before the pandemic, while a recovery in investment-to-GDP ratios in the Union could be observed, it remained below what might be expected in a strong recovery and was insufficient to compensate for years of underinvestment following the 2009 crisis. More importantly, the current investment levels and forecasts do not cover the Union’s needs for structural investment to restart and sustain long-term growth in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium- sized enterprises (SMEs) and the need to address key societal challenges such as sustainability or population ageing. Consequently, in order to achieve the Union's policy objectives and to support a swift, inclusive and healthy economic recovery, support is necessary to address market failures and sub-optimal investment situations and to reduce the investment gap in targeted sectors.
Amendment 350 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point i i) critical healthcare provision, manufacturing and stockpiling of
Amendment 351 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point i i) critical public healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity, of public healthcare systems and of the civil protection system;
Amendment 352 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point i Amendment 353 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether physical or virtual, including infrastructure elements identified as critical in the fields of energy, transport, environment, health, secure digital communication, 5G, internet of things, online service platforms, secure cloud computing, data processing or storage, payments and financial infrastructure, aerospace, defence, communications, media, education and training, electoral infrastructure and sensitive facilities, as well as land and real estate crucial for the use of such critical infrastructure; these critical infrastructures should be gender mainstreamed and ensure that no biases strives while implementing these infrastructures.
Amendment 354 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether physical or virtual or based on intellectual property, including infrastructure
Amendment 355 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether physical or virtual, including infrastructure elements identified as critical in the fields of energy, but excluding fossil fuel- and nuclear-related activities, transport, environment, health, secure digital communication, 5G, internet of things, online service platforms, secure cloud computing, data processing or storage, payments and financial infrastructure, aerospace, defence, communications, media, education and training, electoral infrastructure and sensitive facilities, as well as land and real estate crucial for the use of such critical infrastructure;
Amendment 356 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether physical or virtual, including infrastructure elements identified as critical in the fields of energy, public transport and active mobility, environment, water, health, secure digital communication
Amendment 357 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether physical or virtual, including infrastructure elements identified as critical in the fields of energy, transport, environment, health, secure digital communication, 5G and very high speed capacity networks, internet of things, online service platforms, secure cloud computing, data processing or storage, payments and financial infrastructure, aerospace, defence, communications, media, education and training, electoral infrastructure and sensitive facilities, as well as land and real estate crucial for the use of such critical infrastructure;
Amendment 358 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether physical or virtual, including infrastructure elements identified as critical in the fields of energy, transport, environment, seismic safety, health, secure digital communication,
Amendment 359 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii ii) critical infrastructure, whether physical or virtual, including infrastructure elements identified as critical in the fields of energy, transport, environment, health, secure digital communication,
Amendment 36 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of strategic industries on non-diversified external supply sources. Such vulnerabilities need to be addressed, to improve the Union’s emergency response as well as the resilience of the entire economy, while maintaining its openness to competition and trade in line with its rules. Investment activity is expected to have dropped significantly. Even before the pandemic, while a recovery in investment-to-GDP ratios in the Union could be observed, it remained below what might be expected in a strong recovery and was insufficient to compensate for years of underinvestment following the 2009 crisis. More importantly, the current investment levels and forecasts do not cover the Union’s needs for structural investment to
Amendment 360 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii a (new) ii a) critical early detection and coordinated institutional and economic response capabilities to react in case of crisis risks, as well as on advancing business and service continuity solutions for essential public and private institutions and sector;
Amendment 361 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii a (new) ii a) investment and technical assistance to companies, in particular SMEs, and communities, to increase the resilience of their value chains and business models;
Amendment 362 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii b (new) ii b) crucial investments in renovation and integrating innovative solutions in the building sector, in order to achieve the net-zero greenhouse gas emissions objective and a highl y energy efficient and climate neutral building sector by 2025. Investments contributing to creation of up to2 million jobs in the construction sector and leading to a clean economy aspart of the European Green Deal;
Amendment 363 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii b (new) ii b) strategic investment in renewable energy projects with a high potential to significantly contribute to meeting the targets set out in Directive (EU) 2018/2001 and its subsequent revision, given that all Union regions have significant potential of abundant renewable resources identified;
Amendment 364 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii c (new) ii c) supporting the conditions for boosting entrepreneurship, financing private sector development including start-ups and SMEs, and the expansion of networks of clusters and digital innovation hubs, privatisation processes, adapt to technological development and sustainable sectoral development;
Amendment 365 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point ii d (new) ii d) investment and technical assistance for fostering entrepreneurial skills, for the creation of new start-ups, SMEs and family businesses, that will diversify and expand the entrepreneurial market; investment and technical assistance for the development tof networks of clusters and digital innovation hubs across the continent;
Amendment 366 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iii iii) the provision of
Amendment 367 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – introductory part iv) the promotion of an innovative and sustainable re-industrialisation of Europe, following the priorities described in the New Industrial Strategy for a green and digital Europe and the development model based on industrial ecosystems through key enabling, key enabling, transformative, green and digital technologies and skills and game- changing innovations where the investment is strategically important for the Union’s industrial future, including key enabling, transformative, green and digital technologies and game-changing innovations where the investment is strategically important for the Union’s industrial future,, keeping in mind the principle of just transition, including
Amendment 368 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – introductory part iv) key enabling, transformative, green and digital technologies and needed game- changing innovations with broad societal benefits, where the investment is strategically important for the
Amendment 369 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – introductory part iv) key enabling, transformative,
Amendment 37 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of strategic industries on non-diversified external supply sources. Such vulnerabilities need to be addressed, particularly for small and medium-sized enterprises (SMEs), to improve the Union’s emergency response as well as the resilience of the entire economy, while maintaining its openness to competition and trade in line with its rules. Investment activity is expected to
Amendment 370 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – introductory part iv) key enabling, transformative, green and digital technologies and game- changing innovations where the investment is strategically important for the Union’s
Amendment 371 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point a (a) ethical artificial intelligence,
Amendment 372 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) renewable energy technologies and actions under the Union Renewable energy financing mechanism as per Article 33 of Regulation (EU) 2018/1999, energy storage technologies including sustainable batteries, sustainable transport technologies,
Amendment 373 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) energy efficiency and renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies,
Amendment 374 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies, clean hydrogen and fuel cell applications, decarbonisation technologies for industry, carbon capture and storage, circular economy technologies and nuclear energy technologies,
Amendment 375 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point b (b) renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies, clean hydrogen and fuel cell applications, decarbonisation technologies for industry and the whole economy, carbon capture and storage, circular economy technologies,
Amendment 376 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point c a (new) (ca) technology applied to the tourism sector and innovation applied to the agricultural and forest sector and in rural areas;
Amendment 377 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point iv – point c a (new) (c a) sustainable tourism;
Amendment 378 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point v v) recycling and manufacturing facilities for mass production of Information Communication and Technology components and devices in the EU;
Amendment 379 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vi vi) supply and stockpiling of critical inputs to public actors, businesses or consumers in the EU, including energy or raw materials
Amendment 38 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around
Amendment 380 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – introductory part vii) critical technologies and inputs for the security of the Union and its Member States, such as
Amendment 381 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – paragraph 1 In addition, in the case of investments in space, defence and cybersecurity, and in specific types of projects with actual and direct security implications in critical sectors, the final recipients shall not be controlled by a third country or third country entities and shall have their executive management in the Union with a view to protect the security of the Union and its Member States. These investments shall be in line and promote gender equality at all levels.
Amendment 382 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – paragraph 1 In addition, in the case of investments in space,
Amendment 383 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – paragraph 1 a (new) The financing and investment under this window shall prioritize initiatives contributing to saving lives in the short, mid- and long term, and dedicate a share of at least 25% to energy efficiency and renewable energy projects, as well as ensure adequate support to the challenges of climate emergency and digitalisation.
Amendment 384 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – paragraph 2 Activities should not be eligible for support under this Regulation if they are: (a) inconsistent with the achievement of the Paris Agreement and the European Green Deal´s climate and environmental objectives, notably the objective of climate neutrality by 2050 and the objectives set according to Regulation XXXX/XX (European Climate Law) (b) not complying with the ‘do no significant harm’ criteria established by the Regulation 2020/852 [Regulation on establishment of a framework to facilitate sustainable investment (EU taxonomy)] (c) to be set in a Member state breaching the principle of the Rule of Law according to Art. 2 TEU. The Steering Board shall set any necessary requirements relating to the control and executive management of final recipients for other areas under the strategic European investment window, and to the control of intermediaries under that window, in the light of any applicable public order or security considerations.
Amendment 385 #
Proposal for a regulation Article 7 – paragraph 1 – point e – point vii – paragraph 2 The gender balanced Steering Board shall set any necessary requirements relating to the control and executive management of final recipients for other areas under the strategic European investment window, and to the control of intermediaries under that window, in the light of any applicable public order or security considerations.
Amendment 386 #
Proposal for a regulation Article 7 – paragraph 1 – point e a (new) Amendment 387 #
Proposal for a regulation Article 7 – paragraph 1 a (new) 1 a. A just transition scheme shall be established horizontally across all policy windows. The just transition scheme comprises investments which adress social, economic or environmental challenges deriving from the transition process towards EU climate neutrality by 2050 and the achievement of the Union's 2030 climate target in its currently valid version as well as benefit regions identified in a just transition plan prepared by a Member State in accordance with Article [7] of Regulation [JTF Regulation].
Amendment 388 #
Proposal for a regulation Article 7 – paragraph 1 a (new) 1 a. A Just Transition Scheme, the second pillar of the Just Transition Mechanism, shall be established horizontally across all policy windows. This scheme shall comprise investments which address social, economic and environmental challenges deriving from the transition process towards the achievement of the EU's 2030 climate target and the Union's climate neutrality by 2050.
Amendment 389 #
Proposal for a regulation Article 7 – paragraph 1 b (new) 1 b. To this end the Commission shall update the InvestEU investment guidelines laying down the requirements for investment operations supported through the InvestEU Fund to included a section on the InvestEU Just Transition Scheme and its implementation modalities.
Amendment 39 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy.
Amendment 390 #
Proposal for a regulation Article 7 – paragraph 2 2. Where a financing or investment operation proposed to the Investment Committee referred to in Article 23 falls under more than one policy window, it shall be screened against the EU Taxonomy screening criteria and particularly the Do No Significant Harm principle. It shall be attributed to the policy window under which its main objective or the main objective of most of its sub- projects falls, unless the investment guidelines provide otherwise.
Amendment 391 #
Proposal for a regulation Article 7 – paragraph 2 a (new) 2 a. Financing and investment operations shall pass the 'do no significant harm' test as set out in Article 17 of Regulation (EU) 2020/852.
Amendment 392 #
Proposal for a regulation Article 7 – paragraph 3 3. Financing and investment operations shall be screened to determine
Amendment 393 #
Proposal for a regulation Article 7 – paragraph 3 3. Financing and investment operations shall be screened to determine whether they have an environmental, climate or social impact. If those operations have such an impact they shall be subject to climate, environmental and social sustainability proofing with a view to minimising detrimental impacts and to maximising benefits to the climate, environment and social dimensions. For that purpose, project promoters that request financing shall provide adequate information based on the guidance referred to in paragraph 4.
Amendment 394 #
Proposal for a regulation Article 7 – paragraph 3 3. Financing and investment operations shall be screened to determine whether they have an environmental, climate or social impact, including an impact that is detrimental to equality between women and men in the labour market. If those operations have such an impact they shall be subject to climate, environmental, equality and social sustainability proofing with a view to minimising detrimental impacts and to maximising benefits to the climate, environment, gender equality and social dimensions. For that purpose, project promoters that request financing shall provide adequate information based on the guidance referred to in paragraph 4. Projects below a certain size specified in the guidance shall be excluded from the proofing. Projects that are inconsistent with the climate objectives shall not be eligible for support under this Regulation. In case the implementing partner concludes that no sustainability proofing is to be carried out, it shall provide a justification to the Investment Committee.
Amendment 395 #
Proposal for a regulation Article 7 – paragraph 3 3. Financing and investment operations shall be screened to determine whether they have an environmental, climate or social impact. If those operations have such an impact they shall be subject to climate, environmental and social sustainability proofing with a view to
Amendment 396 #
3. Financing and investment operations shall be screened to determine whether they have an environmental, climate or social impact. If those operations have such an impact they shall be subject to climate, environmental and social sustainability proofing with a view to minimising detrimental impacts and to maximising benefits to the climate, environment and social dimensions. For that purpose, project promoters that request financing shall provide adequate information based on the guidance referred to in paragraph 4. Projects below a certain size specified in the guidance shall be excluded from the proofing. Projects that are inconsistent with the
Amendment 397 #
Proposal for a regulation Article 7 – paragraph 3 3. Financing and investment operations shall be screened to determine whether they have an environmental, climate or social impact. If those operations have such an impact they shall be subject to climate, environmental and social sustainability proofing with a view to minimising detrimental impacts and to maximising benefits to the climate, environment and social dimensions. For
Amendment 398 #
Proposal for a regulation Article 7 – paragraph 3 3. Financing and investment operations shall be screened to determine whether they have an environmental, climate or social impact. If those operations have such an impact they shall be subject to climate, environmental and social sustainability proofing with a view to minimising detrimental impacts and to maximising benefits to the climate, environment and social dimensions. For that purpose, project promoters that request financing shall provide adequate information based on the guidance referred to in paragraph 4. Projects below a certain size specified in the guidance shall be excluded from the proofing. Projects that are inconsistent with the climate and social objectives shall not be eligible for support under this Regulation. In case the implementing partner concludes that no sustainability proofing is to be carried out, it shall provide a justification to the Investment
Amendment 399 #
Proposal for a regulation Article 7 – paragraph 4 – introductory part 4. The Commission shall develop sustainability guidance that
Amendment 40 #
Proposal for a regulation Recital 1 (1) The national and regional lockdown measures following the Covid- 19 pandemic is a major shock to the global and Union economy. Due to the
Amendment 400 #
Proposal for a regulation Article 7 – paragraph 4 – introductory part 4. The Commission shall develop sustainability guidance
Amendment 401 #
Proposal for a regulation Article 7 – paragraph 4 – introductory part 4. The Commission shall develop sustainability guidance that, in accordance with Union climate, environmental and social objectives and standards, allows to:
Amendment 402 #
Proposal for a regulation Article 7 – paragraph 4 – point a Amendment 403 #
Proposal for a regulation Article 7 – paragraph 4 – point a (a) as regards adaptation, ensure resilience to the potential adverse impacts of climate change through a climate vulnerability and risk assessment, including through relevant adaptation measures, and, as regards mitigation, integrate the cost of greenhouse gas
Amendment 404 #
Proposal for a regulation Article 7 – paragraph 4 – point a (a) as regards adaptation, ensure resilience to the potential adverse impacts of climate change through a climate vulnerability and risk assessment, including through relevant adaptation measures, and, as regards mitigation, integrate the cost of greenhouse gas emissions and the positive effects of climate mitigation measures in the cost- benefit analysis, including actions and measures that mitigate the impact on the workforce and protect workers who are negatively affected by productive transitions;
Amendment 405 #
Proposal for a regulation Article 7 – paragraph 4 – point a (a) as regards adaptation, ensure resilience to the potential adverse impacts of climate change through a climate
Amendment 406 #
Proposal for a regulation Article 7 – paragraph 4 – point b (b)
Amendment 407 #
Proposal for a regulation Article 7 – paragraph 4 – point b a (new) (b a) assess projects against their contribution to the Union's 2030 climate and energy targets and to the objective of reaching net-zero GHG emissions by 2040 at the latest within the Union;
Amendment 408 #
Proposal for a regulation Article 7 – paragraph 4 – point c (c) estimate the social impact of projects, including on gender equality, on the social inclusion of certain areas or populations and on the economic development of areas and sectors affected by structural challenges such as the need to decarbonise the economy; , including actions and measures that mitigate the impact on the workforce and protect workers who are negatively affected by productive transitions;
Amendment 409 #
Proposal for a regulation Article 7 – paragraph 4 – point c (c) estimate the social impact of projects, including on gender equality, on the social inclusion of certain areas or populations and on the economic development of areas and sectors affected by structural challenges such as the need to decarbonise the economy, including actions and measures that mitigate the impact on the workforce and protect workers that are negatively affected by productive transitions;
Amendment 41 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of strategic industries on non-diversified external supply sources. Such vulnerabilities need to be addressed, to improve the Union’s emergency response as well as the resilience of the entire economy, while maintaining its openness to competition and trade in line with its rules. Investment activity is expected to have dropped significantly. Even before the pandemic, while a recovery in investment-to-GDP ratios in the Union could be observed, it remained below what might be expected in a strong recovery and was insufficient to compensate for years of underinvestment following the 2009 crisis. More importantly, the current investment levels and forecasts do not cover the Union’s needs for structural investment to restart and sustain long-term growth in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium- sized enterprises (SMEs) and the need to address key societal challenges such as sustainability or population ageing without compromising equality goals. Consequently, in order to achieve the
Amendment 410 #
Proposal for a regulation Article 7 – paragraph 4 – point c (c) estimate the social impact of projects, including on gender equality in the labour market, on the social inclusion of certain areas or populations and on the economic development of areas and sectors affected by structural challenges such as the need to decarbonise the economy;
Amendment 411 #
Proposal for a regulation Article 7 – paragraph 4 – point c (c) estimate the social impact of projects,
Amendment 412 #
Proposal for a regulation Article 7 – paragraph 4 – point d Amendment 413 #
Proposal for a regulation Article 7 – paragraph 4 – point d (d) identify projects that are inconsistent with the achievement of climate
Amendment 414 #
Proposal for a regulation Article 7 – paragraph 4 – point d (d) identify projects that are inconsistent with the achievement of
Amendment 415 #
Proposal for a regulation Article 7 – paragraph 4 – point d (d) identify projects that are inconsistent with the achievement of climate objectives and/or the social objectives;
Amendment 416 #
Proposal for a regulation Article 7 – paragraph 4 – point d (d) identify projects that are inconsistent with the achievement of climate and social objectives;
Amendment 417 #
Proposal for a regulation Article 7 – paragraph 4 – point d a (new) (d a) assess projects against their contribution to the transition towards climate neutrality, based on time-bound and science-based targets, including 2030 climate and energy targets;
Amendment 418 #
Proposal for a regulation Article 7 – paragraph 4 – point d a (new) (d a) identify projects that are inconsistent with the promotion of gender equality and the principles of gender mainstreaming and gender budgeting;
Amendment 419 #
Proposal for a regulation Article 7 – paragraph 5 5. Implementing partners shall provide the information necessary to allow the tracking of investment that contributes to meeting the Union objectives on
Amendment 42 #
Proposal for a regulation Recital 1 (1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has
Amendment 420 #
Proposal for a regulation Article 7 – paragraph 5 a (new) 5 a. For the purposes of Article 7 (4), the sustainability guidance developed by the European Commission shall be based on the criteria established by the Taxonomy Regulation and shall be aligned with the objectives of the European Green Deal.
Amendment 421 #
Proposal for a regulation Article 7 – paragraph 6 – introductory part 6. Implementing partners shall apply a target of at least
Amendment 422 #
Proposal for a regulation Article 7 – paragraph 6 – introductory part 6. Implementing partners shall apply a target of
Amendment 423 #
Proposal for a regulation Article 7 – paragraph 6 – introductory part 6. Implementing partners shall apply a target of at least
Amendment 424 #
Proposal for a regulation Article 7 – paragraph 6 – introductory part 6. Implementing partners shall apply a target of at least 60 % of the investment under the sustainable infrastructure policy window contributing to meeting the Union objectives on
Amendment 425 #
Proposal for a regulation Article 7 – paragraph 6 a (new) 6 a. The contribution of the InvestEU Fund to the achievement of the Union objectives on climate and environment will be tracked using the criteria laid out in the Regulation on establishment of a framework to facilitate sustainable investment.
Amendment 426 #
Proposal for a regulation Article 7 – paragraph 7 7. The Commission is empowered to adopt delegated acts in accordance with Article 33 in order to supplement this Regulation by defining the investment guidelines for each of the policy windows including the just transition scheme. The investment guidelines shall be prepared in close dialogue with the EIB Group and other potential implementing partners.
Amendment 427 #
Proposal for a regulation Article 7 – paragraph 7 7. The Commission is empowered to adopt delegated acts in accordance with Article 33 in order to supplement this Regulation by defining the investment guidelines for each of the policy windows
Amendment 428 #
Proposal for a regulation Article 7 – paragraph 8 8. For financing and investment operations under the strategic European investment window in
Amendment 429 #
Proposal for a regulation Article 9 – paragraph 1 – introductory part 1. Amounts allocated by a Member State on a voluntary basis under Article [10(1)] of Regulation [[CPR] number] or Article [75(1)] of Regulation [[CAP Strategic Plan] number] or in accordance with the implementation of the relevant measures in recovery and resilience plans under Regulation [Recovery and Resilience Facility] shall be used for the provisioning for the part of the EU guarantee under the Member State compartment covering financing and
Amendment 43 #
Proposal for a regulation Recital 2 (2) Evaluations have underlined that the variety of financial instruments delivered under the 2014-2020 Multiannual Financial Framework period has led to some overlaps in their scope. That variety has also produced complexity for intermediaries and final recipients who were confronted with different eligibility and reporting rules. The absence of compatible rules also hampered the combination of several Union funds, although such combinations would have been beneficial in order to support projects in need of different types of funding. Therefore, a single fund, the InvestEU Fund, which builds on the experience of the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe, should be set up in order to provide more efficiently functioning support to final recipients by integrating and simplifying the financing offered under a single budgetary guarantee
Amendment 430 #
Proposal for a regulation Article 9 – paragraph 2 – subparagraph 3 The Member State and the Commission shall conclude a contribution agreement or an amendment to it within
Amendment 431 #
Proposal for a regulation Article 9 – paragraph 2 – subparagraph 5 Amendment 432 #
Proposal for a regulation Article 9 – paragraph 5 – point b (b)
Amendment 434 #
Proposal for a regulation Article 12 – paragraph 2 – subparagraph 1 – point b a (new) (b a) for the solvency support window;
Amendment 435 #
Proposal for a regulation Article 12 – paragraph 4 4. 7
Amendment 436 #
Proposal for a regulation Article 12 – paragraph 5 5. The remaining
Amendment 437 #
Proposal for a regulation Article 12 – paragraph 5 a (new) 5 a. In case of substantial interest in the call of interest from other implementing partners which exceed the level of the remaining 30% of the EU guarantee the Commission may relocate resources in order to grant the guarantee to those implementing partners.
Amendment 438 #
Proposal for a regulation Article 12 – paragraph 7 – introductory part 7. Support of the EU guarantee referred to in the first and second subparagraphs of Article 4(2) shall be granted under the condition that the Commission has concluded a guarantee agreement with the implementing partner within the time limits set out in Article 4(6) of Regulation [EURI]. In other cases, support of the EU guarantee may be granted for financing and investment operations covered by this Regulation for an investment period ending on 31 December 2027.
Amendment 439 #
Proposal for a regulation Article 12 – paragraph 7 – subparagraph 1 Contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in point (a) of Article 15(1)
Amendment 44 #
Proposal for a regulation Recital 2 (2) Evaluations have underlined that the variety of financial instruments delivered under the 2014-2020 Multiannual Financial Framework period has led to some overlaps in their scope. That
Amendment 440 #
Proposal for a regulation Article 13 – paragraph 1 a (new) 1 a. Are consistent with gender equality, gender budgeting and gender mainstreaming guidelines.
Amendment 441 #
Proposal for a regulation Article 13 – paragraph 1 a (new) 1 a. comply with the EU Taxonomy and the Do No Significant Harm principle;
Amendment 442 #
Proposal for a regulation Article 13 – paragraph 2 – introductory part 2. In addition to projects situated in the Union, or in an overseas country or territory linked to a Member State as set out in Annex II to the TFEU, the InvestEU Fund may support the following projects and operations through financing and investment operations under other windows than the strategic European
Amendment 443 #
Proposal for a regulation Article 13 – paragraph 2 – point a (a) projects involving entities located or established in one or more Member
Amendment 444 #
Proposal for a regulation Article 13 – paragraph 2 – point b Amendment 445 #
Proposal for a regulation Article 13 – paragraph 3 – introductory part 3. The InvestEU Fund
Amendment 446 #
Proposal for a regulation Article 13 – paragraph 3 – point b Amendment 447 #
Amendment 448 #
Proposal for a regulation Article 13 – paragraph 3 – point d Amendment 449 #
Proposal for a regulation Article 13 – paragraph 3 – subparagraph 1 Notwithstanding the first subparagraph,
Amendment 45 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies and legislations to complete the Single Market and to stimulate sustainable and inclusive growth and jobs, such as 'Europe 2020 - A strategy for smart, sustainable and inclusive growth' of 3 March 2010, 'Action Plan on Building a Capital Markets Union' of 30 September 2015, 'A new European Agenda for Culture' of 22 May 2018, 'Clean Energy for all Europeans' of 30 November 2016, 'Closing the loop - An EU action plan for the Circular Economy' of 2 December 2015, 'A European Strategy for Low-
Amendment 450 #
Proposal for a regulation Article 13 – paragraph 3 – subparagraph 1 a (new) Investments that receive support from the Just Transition Fund or the public sector loan facility under the Just Transition Mechanism shall be eligible for financing under Article 7(1a) if support from the aforementioned facilities is no more than 50 percent of the total investment.
Amendment 451 #
Proposal for a regulation Article 13 – paragraph 3 – subparagraph 1 a (new) Notwithstanding the second and third paragraphs, only companies established in a Member State and operating in the Union can be supported by the financing and investment operations under the solvency support window.
Amendment 452 #
Proposal for a regulation Article 15 – paragraph 1 – point a (a) loans, guarantees, counter- guarantees, capital market instruments, any other form of funding or credit enhancement, including hybrid debt, subordinated debt, or equity, convertible equity or quasi-equity investments, provided directly or indirectly through financial intermediaries, funds, investment platforms or other vehicles to be channelled to final recipients;
Amendment 453 #
Proposal for a regulation Article 15 – paragraph 1 – point a (a) loans, guarantees, counter- guarantees,
Amendment 454 #
Proposal for a regulation Article 15 – paragraph 2 a (new) 2 a. The eligible instruments under the solvency support window shall result in providing equity or quasi-equity to companies referred to in Article 3.2(f).
Amendment 455 #
Proposal for a regulation Article 15 – paragraph 2 b (new) 2 b. The intermediaries under the solvency support window shall be established in a Member State and operate in the Union. The Steering Board shall set any necessary requirements relating to the control of intermediaries (funds, special purpose vehicles and others) in the light of any applicable public order or security considerations.
Amendment 456 #
Proposal for a regulation Article 18 – paragraph 2 – point a Amendment 457 #
Proposal for a regulation Article 18 – paragraph 2 – point b (b) for equity
Amendment 458 #
Proposal for a regulation Article 18 – paragraph 2 – subparagraph 1 Amendment 459 #
Proposal for a regulation Article 19 – paragraph 1 1. The Commission and the Steering Board established pursuant to Article 20 shall be advised by an Advisory Board consisting of unpaid members.
Amendment 46 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate sustainable and inclusive growth and jobs, such as 'Europe 2020 - A strategy for smart, sustainable and inclusive growth' of 3 March 2010, 'Action Plan on Building a Capital Markets Union' of 30 September 2015, 'A new European Agenda for Culture' of 22 May 2018, 'A Digital Education Action Plan 2018-2020', 'Shaping Europe’s digital future', 'European Education Area', 'Clean Energy for all Europeans' of 30 November 2016, 'Closing the loop - An EU action plan for the Circular Economy' of 2 December 2015, 'A European Strategy for Low-
Amendment 460 #
Proposal for a regulation Article 19 – paragraph 2 – introductory part 2. The Advisory Board shall
Amendment 461 #
Proposal for a regulation Article 19 – paragraph 2 – introductory part 2. The Advisory Board shall
Amendment 462 #
Proposal for a regulation Article 19 – paragraph 2 – point d a (new) (d a) The European Commission may appoint a representative, without voting right, of the European social partners, limited to the labour side, based on a proposal advanced by the organisation whose representative is admitted in the advisory board.
Amendment 463 #
Proposal for a regulation Article 19 – paragraph 2 – subparagraph 1 (new) The Commission may appoint a representative of the European social partners, without the right of vote, limited to the labour side, based on a proposal by the organisation whose representative is admitted in the Advisory Board.
Amendment 464 #
Proposal for a regulation Article 19 – paragraph 8 – introductory part 8. Detailed minutes of the meetings of the Advisory Board shall be made public
Amendment 465 #
1. A Steering Board shall be established for the InvestEU Programme. It shall be composed of four representatives of the Commission, three representatives of the EIB Group and two representatives of the implementing partners other than the EIB Group and one expert appointed as a non-voting member by the European Parliament and shall ensure that the composition of the Steering Board as a whole is gender-balanced. The expert appointed as a non-
Amendment 466 #
Proposal for a regulation Article 20 – paragraph 3 – point a (a) after regular consultation of the representatives of the Member States on the Advisory Board in its separate format, as referred to in Article 19(6), provide strategic and operational guidance for the implementing partners, including guidance on the design of financial products and on other operating policies and procedures necessary for the operation of the InvestEU Fund;
Amendment 467 #
Proposal for a regulation Article 20 – paragraph 3 – point f a (new) (f a) determine the guidance referred to in Section 6 point d of Annex I.
Amendment 468 #
Proposal for a regulation Article 21 – paragraph 3 – point a (a) a description of the proposed financing and investment operation, and how they are adhered to the EU Taxonomy and the Do No Significant Harm principle;
Amendment 469 #
Proposal for a regulation Article 21 – paragraph 3 – point b (b) how the proposed operation contributes to the EU policy objectives
Amendment 47 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted ambitious strategies to complete the Single Market and to stimulate fair, sustainable and inclusive growth and high- quality jobs, such as 'Europe 2020 - A strategy for smart, sustainable and inclusive growth' of 3 March 2010, 'Action Plan on Building a Capital Markets Union' of 30 September 2015, 'A new European Agenda for Culture' of 22 May 2018, 'Clean Energy for all Europeans' of 30 November 2016, 'Closing the loop - An EU action plan for the Circular Economy' of 2 December 2015, 'A European Strategy for Low-
Amendment 470 #
Proposal for a regulation Article 21 – paragraph 3 – point f (f) the
Amendment 471 #
Proposal for a regulation Article 21 – paragraph 3 – point f (f) the impact of the investment with specific reference to job creation and sustainability;
Amendment 472 #
Proposal for a regulation Article 21 – paragraph 3 – point f (f) the impact of the investment
Amendment 473 #
Proposal for a regulation Article 21 – paragraph 3 – point g a (new) (g a) sustainability indicators as established in the Regulation on Sustainability Disclosures;
Amendment 474 #
Proposal for a regulation Article 21 – paragraph 4 Amendment 475 #
Proposal for a regulation Article 22 – paragraph 1 1. The Commission shall conduct a check to confirm that the financing and investment operations proposed by the implementing partners other than the EIB comply with Union law and policies, including the principle of gender equality.
Amendment 476 #
Proposal for a regulation Article 23 – paragraph 1 – point d a (new) (d a) ensure the achievement of the climate and environment spending targets set out in Article 7(6) for the sustainable infrastructure policy window and the strategic European investment policy window;
Amendment 477 #
Proposal for a regulation Article 23 – paragraph 1 – point d a (new) (d a) consult with all interested parties;
Amendment 478 #
Proposal for a regulation Article 23 – paragraph 2 – subparagraph 3 – point i (new) (i) to ensure gender-balance, the Investment Committee should be committed to adopt strategies and procedures to ensure gender-balance in the committee.
Amendment 479 #
Proposal for a regulation Article 23 – paragraph 5 – subparagraph 4 Twice a year, the Investment Committee shall submit to the European Parliament and to the Council a list of all conclusions of the Investment Committee in the preceding six months, as well as the published Scoreboards relating thereto. That submission shall include any decisions rejecting the use of the EU guarantee and
Amendment 48 #
Proposal for a regulation Recital 3 (3) In the last years, the Union has adopted a
Amendment 480 #
Proposal for a regulation Article 23 – paragraph 8 8. From the date of its constitution, the Investment Committee shall also be in charge of approving the use of the EU guarantee under Regulation (EU) 2015/1017 for the remainder of the investment period under that Regulation. They shall be assessed in accordance with the criteria laid down in that Regulation. The configurations of the Investment Committee responsible for the sustainable infrastructure window and the strategic European investment window shall assess those proposals. A
Amendment 481 #
Proposal for a regulation Article 24 – paragraph 1 – introductory part 1. The Commission shall establish the InvestEU Advisory Hub. The InvestEU Advisory Hub shall provide advisory support for the identification, preparation, development, structuring, procuring and implementation of investment projects, and
Amendment 482 #
Proposal for a regulation Article 24 – paragraph 1 a (new) 1 a. Education and training represent a key feature of any sustainable recovery at EU level, being a sector that was severely hit in the context of the COVID- 19 pandemic. The Invest EU Programme should contribute to strengthening its long-term competitiveness by supporting operations promoting sustainable, innovative and digital education and training. Special support should be envisaged for SMEs and organizations in the field in need of financing to continue and develop their activities.
Amendment 483 #
Proposal for a regulation Article 24 – paragraph 2 – point c Amendment 484 #
Proposal for a regulation Article 24 – paragraph 2 – point c (c) where appropriate, assist project promoters in developing their projects so that they fulfil the objectives set out in Articles 3 and 7 and the eligibility criteria set out in Article 13, and facilitate the development of Important Projects of Common European Interest and facilitate a just transition towards a low-carbon economy for most affected regions and aggregators for small-sized projects, including through investment platforms as referred to in point (f) of this paragraph, provided that such assistance does not prejudge the conclusions of the Investment Committee with respect to the coverage of the EU guarantee with respect to such projects;
Amendment 485 #
Proposal for a regulation Article 24 – paragraph 2 – point e (e) facilitate the establishment of collaborative platforms for peer-to-peer exchanges and the sharing of data, knowhow and best practices to support project pipeline and sector development, and local level project nurseries bringing together innovators, project promoters and financiers;
Amendment 486 #
Proposal for a regulation Article 24 – paragraph 2 – point h (h) support capacity building actions to develop organisational capacities, skills and processes and to accelerate the investment readiness of organisations in order for public authorities and project promoters to build investment project pipelines, develop financing mechanisms and investment platforms and to manage projects and for financial intermediaries to implement financing and investment operations for the benefit of entities that face difficulties in obtaining access to finance, including through support for developing risk assessment capacity or sector specific knowledge; establish local and regional level project nurseries bringing together innovators, project promoters and financiers, and helping the projects to become eligible for financing.
Amendment 487 #
Proposal for a regulation Article 24 – paragraph 2 – point i a (new) (i a) providing support to financing and investment operations under the solvency support window.
Amendment 488 #
Proposal for a regulation Article 24 – paragraph 4 4. The Commission shall conclude an advisory agreement with each advisory partner on the implementation of one or more advisory initiatives. Fees may be charged for the services referred to in paragraph 2 to cover part of the costs for providing those services, except for services provided to public project
Amendment 489 #
Proposal for a regulation Article 24 a (new) Article 24 a Financing of advisory services and technical assistance An amount of up to EUR 100 000 000 shall be made available for covering costs, advisory services and technical and administrative assistance to set-up and manage funds, special purpose vehicles, investment platforms and other vehicles for the purposes of the solvency support window including for support referred to in point (i) of Article 14(2) and having a special focus on Member States with less developed equity markets. The technical assistance shall also be available to support the green and digital transformation of companies financed under this window. The Commission shall implement this amount under direct or indirect management as referred to in points (a) and (c) of Article62(1) of the Financial Regulation. An amount of EUR 80 000 000 out of the amount referred to in the first subparagraph shall constitute an external assigned revenue in accordance with Article 21(5) of the Financial Regulation and shall be subject to Article 4(4) and (8) of the [EURI] Regulation.
Amendment 49 #
Proposal for a regulation Recital 4 (4) At Union level, the European Semester of economic policy coordination is the framework to identify national reform priorities and monitor their implementation. Member States, where appropriate in cooperation with local and regional authorities, develop their own national multiannual investment strategies in support of those reform priorities. Those strategies should be presented alongside the yearly national reform programmes as a way of outlining and coordinating priority investment projects that are to be supported by national funding, Union funding, or both. The Commission and the Member States should cooperate better over the implementation of the European Semester recommandations in order to improve the achievement of the objectives fixed at the EU level, as recommended by European Court of Auditors in its Special report 16/2020. Those strategies should also use Union funding in a coherent manner and maximise the added value of the financial support to be received notably from the
Amendment 490 #
Proposal for a regulation Article 26 – paragraph 1 1. At the request of the European Parliament or of the Council, the Chairperson of the Steering Board shall report on the performance of the InvestEU Fund to the requesting institution, including by participating in a hearing before the European Parliament. Periodical evaluations should be presented to the European Parliament and made public.
Amendment 491 #
Proposal for a regulation Article 26 – paragraph 1 1. At the request of the European Parliament or of the Council, the Chairperson of the Steering Board and the Chairperson of the Investment Committee shall report on the performance of the InvestEU Fund to the requesting institution,
Amendment 492 #
Proposal for a regulation Article 26 – paragraph 2 2. The Chairperson of the Steering Board and the Chairperson of the Investment Committee shall reply orally or in writing to questions addressed to the InvestEU Fund by the European Parliament or by the Council within five weeks of their receipt.
Amendment 493 #
Proposal for a regulation Article 27 – paragraph 1 1. Indicators for reporting on the progress of the InvestEU Programme towards the achievement of the general and specific objectives set out in Article 3 are set in Annex III. They should reflect gender sensitive data and should be designed in a gender sensitive way, whenever possible, feeding into gender impact assessments. This way, monitoring will also cover gaps in feminised sectors and address equal opportunities and equal treatment of women and men in the labour market.
Amendment 494 #
Proposal for a regulation Article 27 – paragraph 1 1.
Amendment 495 #
Proposal for a regulation Article 27 – paragraph 2 2. The performance reporting system shall ensure that data for monitoring implementation and results are collected in an efficient, effective and timely manner, and that those data allow for adequate risk and guarantee portfolio monitoring as well as for gender impact assessment. To that end, proportionate reporting requirements shall be imposed on the implementing partners, the advisory partners and other recipients of Union funds, as appropriate.
Amendment 496 #
Proposal for a regulation Article 27 – paragraph 3 3. The Commission shall report on the implementation of the InvestEU Programme in accordance with Articles 241 and 250 of the Financial Regulation. In accordance with Article 41(5) of the Financial Regulation, the annual report shall provide information on the level of implementation of the Programme with respect to its objectives and performance indicators. For that purpose, each implementing partners shall provide on an annual basis the information necessary to allow the Commission to comply with its reporting obligations, including information on the operation of the EU guarantee. Where necessary, the annual report shall be accompanied by legislative proposals for amending this Regulation.
Amendment 497 #
Proposal for a regulation Article 27 – paragraph 5 – indent 1 (new) - Operations under the solvency support window shall be reported on separately, as appropriate and as set out in the guarantee agreement.
Amendment 498 #
Proposal for a regulation Article 28 – paragraph 1 1. Evaluations of the InvestEU Programme should cover environmental impact of a project or an activity based on harmonised sustainability indicators, Natural Capital Accounting, Life Cycle Analysis, and climate tracking and sustainability proofing, and shall be carried out so that they feed into the decision-making process in a timely manner.
Amendment 499 #
Proposal for a regulation Article 28 – paragraph 2 2. By 30 September 2024, the Commission shall submit to the European Parliament and to the Council an independent interim evaluation report on the InvestEU Programme, in particular on the use of the EU guarantee, on the fulfilment of the EIB Group's obligations under points (b) and (c) of Article 10(1), on the allocation of the EU guarantee
Amendment 50 #
Proposal for a regulation Recital 4 a (new) Amendment 501 #
Proposal for a regulation Article 31 – paragraph 1 Amendment 502 #
Proposal for a regulation Article 31 – paragraph 1 – subparagraph 1 The application of the requirements under the first subparagraph to projects in the
Amendment 503 #
Proposal for a regulation Article 31 – paragraph 1 – subparagraph 1 a (new) The Commission shall publish on its web portal information on financing and investment operations, including information on exepcted impacts and benefits of the projects, taking into account the protection of confidential and commercially sensitive information. In accordance with relevant transparency policies and Union rules on data protection and on access to documents and information, the implementing partners and other recipients of Union funds shall pro actively and systematically make publicly available on their websites information relating to all financing and investment operations covered by this programme, relating in particular to the manner in which those projects contribute to the achievement of the objectives and requirements of this Regulation
Amendment 504 #
Proposal for a regulation Article 31 – paragraph 1 a (new) 1 a. To increase transparency the instrument should have a public database containing information regarding the allocation per Member States and should be included in the European Commission’s Financial Transparency System (FTS).
Amendment 505 #
Proposal for a regulation Article 34 – paragraph 1 1. By way of derogation
Amendment 506 #
Proposal for a regulation Article 34 – paragraph 3 a (new) 3 a. All financial instruments established by programmes referred to in Annex IV to this Regulation and the EU guarantee established by Regulation (EU) 2015/1017 the budgetary guarantee established under Regulation (EU) 2015/1017 may, if applicable and subject to a prior evaluation, be merged together with those under this Regulation.
Amendment 507 #
Proposal for a regulation Article 34 – paragraph 3 a (new) 3 a. The implementing partners may submit to the Commission financing and investment operations approved by them during the period from the conclusion of the relevant guarantee agreement and the first appointments of all the members of the Investment Committee following the date of entry into force of this Regulation have been made.
Amendment 508 #
Proposal for a regulation Article 34 – paragraph 3 a (new) 3 a. All financial instruments established by programmes referred to in Annex IV to this Regulation and the budgetary guarantee established under Regulation (EU) 2015/1017 may, if applicable and subject to a prior evaluation, be merged together with those under this Regulation.
Amendment 509 #
Proposal for a regulation Article 34 – paragraph 3 b (new) 3 b. By way of derogation from the second and third subparagraphs of Article 209(3) of the Financial Regulation, revenues and repayments from the financial instrument established programmes referred to in Annex IV to this Regulation and the budgetary guarantee established under Regulation (EU) 2015/1017 which have been merged with the EU guarantee established under this Regulation in accordance with Article 34(4) shall constitute, respectively,internal assigned revenue within the meaning of Article 21(5) of the Financial Regulation for the EU Guarantee established by this Regulation and repayments for the EU Guarantee established by this Regulation.
Amendment 51 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence and cohesion of the Union, including in the fields of innovation and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises. To that end, the InvestEU Fund should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments backed up by a guarantee from the Union budget and by financial contributions from implementing partners as relevant. The InvestEU Fund should be demand-driven, while at the same time it should focus on providing strategic, long-term benefits in relation to key areas of Union policy which otherwise would not be funded or would be insufficiently funded, thereby contributing to meeting policy objectives of the Union. Support under the InvestEU Fund should cover a wide range of sectors and regions, but should avoid excessive sectoral or geographical concentration and should facilitate access of projects composed of partner entities in multiple regions across
Amendment 510 #
Proposal for a regulation Article 34 – paragraph 3 b (new) 3 b. The Commission shall assess the operations referred to in paragraph 3a and decide that the EU guarantee coverage extends to them.
Amendment 511 #
Proposal for a regulation Article 34 – paragraph 3 c (new) 3 c. The implementing partners may submit to the Commission financing and investment operations approved by them during the period from the conclusion of the relevant guarantee agreement and the first appointments of all the members of the Investment Committee following the date of entry into force of this Regulation have been made.
Amendment 512 #
Proposal for a regulation Article 34 – paragraph 3 c (new) 3 c. The implementing partners may submit to the Commission financing and investment operations approved by them during the period from the date of entry into force of this Regulation until the conclusion of the relevant guarantee agreement.
Amendment 513 #
Proposal for a regulation Article 34 – paragraph 3 d (new) 3 d. The Commission shall assess the operations referred to in paragraph 3c and decide that the EU guarantee coverage extends to them from the date of conclusion of the relevant guarantee agreements, after which the implementing partners may sign the financing and investment operations.
Amendment 514 #
Proposal for a regulation Article 34 – paragraph 3 d (new) 3 d. The Commission shall assess the operations referred to in paragraph 6 and decide that the EU guarantee coverage extends to them.
Amendment 515 #
Proposal for a regulation Article 34 – paragraph 3 e (new) 3 e. The investment period during which the EU guarantee may be granted for supporting financing and investment operations covered by this Regulation shall last until the conclusion of the guarantee agreement between the Commission and the EIB under the proposed Regulation of the European Parliament and the Council establishing the InvestEU Programme, for EIB operations for which a contract between the EIB and the beneficiary or financial intermediary has been signed by 31 December 2022; the conclusion of the guarantee agreement between the Commission and the EIF under the proposed Regulation of the European Parliament and the Council establishing the InvestEU Programme, for EIF operations for which a contract between the EIF and the beneficiary or financial intermediary has been signed by December 2022
Amendment 516 #
Proposal for a regulation Article 34 – paragraph 3 e (new) 3 e. All financial instrument established by programmes referred to in Annex IV to this Regulation and the EU guarantee established by Regulation (EU)2015/1017 the budgetary guarantee established under Regulation (EU) 2015/1017may, if applicable and subject to a prior evaluation, be merged together with those under this Regulation.
Amendment 517 #
Proposal for a regulation Article 34 – paragraph 3 f (new) 3 f. By way of derogation from the second and third subparagraphs of Article 209(3) of the Financial Regulation, revenues and repayments from the financial instrument established programmes referred to in Annex IV to this Regulation and the budgetary guarantee established under Regulation (EU) 2015/1017 which have been merged with the EU guarantee established under this Regulation in accordance with paragraph 3e of this Article shall constitute, respectively, internal assigned revenue within the meaning of Article 21(5) of the Financial Regulation for the EU Guarantee established by this Regulation and repayments for the EU Guarantee established by this Regulation.
Amendment 518 #
Proposal for a regulation Annex I – paragraph 1 – point b (b) up to EUR 1
Amendment 519 #
Proposal for a regulation Annex I – paragraph 1 – point b (b) up to EUR 1
Amendment 52 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence and cohesion of the Union, including in the fields of innovation and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises. To that end, the InvestEU Fund should support projects that are technically and economically viable by providing a framework for the use of
Amendment 520 #
Proposal for a regulation Annex I – paragraph 1 – point c (c) up to EUR 1
Amendment 521 #
Proposal for a regulation Annex I – paragraph 1 – point c (c) up to EUR 1
Amendment 522 #
Proposal for a regulation Annex I – paragraph 1 – point d (d) up to EUR
Amendment 523 #
Proposal for a regulation Annex I – paragraph 1 – point d (d) up to EUR
Amendment 524 #
(e a) up to EUR 4 900 000 000 for objectives referred to in point(e) of Article 3(2).
Amendment 525 #
Proposal for a regulation Annex II – paragraph 1 The financing and investment operations under other windows than the strategic European investment window may address major and urgent investment needs related to the Covid-19 pandemic and its severe social, economic and health impact as well as promote the objectives of the European Green Deal and the just transition to a carbon-neutral economy by 2050 at the latest and may fall under one or more of the following areas:
Amendment 526 #
The financing and investment operations under other windows than the strategic European investment window
Amendment 527 #
Proposal for a regulation Annex II – paragraph 2 The financing and investment operations under the strategic European investment window shall fall under the areas laid down in point (e) of Article 7(1). They may in particular include Important Projects of Common European Interest
Amendment 528 #
Proposal for a regulation Annex II – paragraph 2 The financing and investment operations under the strategic European investment window shall fall under the areas laid down
Amendment 529 #
Proposal for a regulation Annex II – point 1 – introductory part 1. The development of the energy sector in accordance with the Energy Union priorities, including s
Amendment 53 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence
Amendment 530 #
Proposal for a regulation Annex II – point 1 – point a (a) the expansion of the generation, supply or use of clean and sustainable renewable and safe and sustainable other zero
Amendment 531 #
Proposal for a regulation Annex II – point 1 – point d (d) the development of innovative zero-
Amendment 532 #
Proposal for a regulation Annex II – point 1 – point e (e) the production and supply of sustainable synthetic fuels from renewable
Amendment 533 #
Proposal for a regulation Annex II – point 1 – point f (f) technologies and infrastructure for
Amendment 534 #
Proposal for a regulation Annex II – point 2 – introductory part 2. The development of sustainable and safe transport infrastructures and mobility solutions, equipment and innovative technologies in accordance with Union transport priorities and fully compatible with the commitments taken under the Paris Agreement on Climate Change, in particular through:
Amendment 535 #
Proposal for a regulation Annex II – point 2 – point a (a) projects that support the
Amendment 536 #
Proposal for a regulation Annex II – point 2 – point c (c) smart and sustainable urban mobility projects that target
Amendment 537 #
Proposal for a regulation Annex II – point 2 – point d (d) supporting the renewal and retrofitting of transport mobile assets with the view of deploying
Amendment 538 #
Proposal for a regulation Annex II – point 2 – point f a (new) (f a) inter-urban cycling infrastructure, with particular focus on ensuring safe cross-border connections and thereby developing the creation of transnational cycling axis within a European wide network;
Amendment 539 #
Proposal for a regulation Annex II – point 2 – point g – point iii (iii) emission reduction with a clear pathway to zero emissions by 2040; or
Amendment 54 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and soci
Amendment 540 #
Proposal for a regulation Annex II – point 2 – point h (h) projects to maintain or upgrade existing transport infrastructure, including motorways on the TEN-T only where necessary to upgrade, maintain or improve road safety, to develop Intelligent Transport Systems (ITS) services or to guarantee infrastructure integrity and standards, to develop safe parking areas and facilities, recharging and refuelling stations for alternative fuels.
Amendment 541 #
Proposal for a regulation Annex II – point 3 – point b (b) waste utilisation and management infrastructure;
Amendment 542 #
(h) the decarbonisation of energy- intensive industries and the substantial reduction of emissions in such industries, including the demonstration of innovative
Amendment 543 #
Proposal for a regulation Annex II – point 3 – point i (i) the decarbonisation of the energy production and distribution chain by phasing out the use of coal, gas and oil; and
Amendment 544 #
Proposal for a regulation Annex II – point 4 4. The development of digital connectivity infrastructure, in particular through projects that support the deployment of very high capacity digital networks,
Amendment 545 #
Proposal for a regulation Annex II – point 4 4. The development of digital connectivity infrastructure, in particular through projects that support the deployment of very high capacity digital networks
Amendment 546 #
Proposal for a regulation Annex II – point 6 – point a (a) ethical artificial intelligence;
Amendment 547 #
Proposal for a regulation Annex II – point 6 – point b Amendment 548 #
Proposal for a regulation Annex II – point 9 9.
Amendment 549 #
Proposal for a regulation Annex II – point 9 9.
Amendment 55 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the international competitiveness, energy independence and socio-economic convergence and cohesion of the Union, including in the fields of innovation and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises. To that end, the InvestEU Fund should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments backed up by a guarantee from the Union budget and by financial contributions from implementing partners as relevant. The InvestEU Fund should be demand-driven, while at the same time it should focus on
Amendment 550 #
Proposal for a regulation Annex II – point 10 10. The rehabilitation of industrial sites (including contaminated sites) and the restoration of such sites for sustainable use excluding rehabilitations and restorations which are part of corporate liabilities.
Amendment 551 #
Proposal for a regulation Annex II – point 12 – point d – point ii (ii) affordable, healthy and energy- efficient social housing;58 _________________ 58Affordable social housing is to be understood as aimed at disadvantaged persons or socially less advantaged groups, who due to solvency constraints live in severe housing deprivation or are unable to obtain housing at market conditions.
Amendment 552 #
Proposal for a regulation Annex II – point 12 – point d – point iii (iii) health, child and long-term care, including public and private day-care centers, clinics, hospitals, primary care, home services and community-based care;
Amendment 553 #
Proposal for a regulation Annex II – point 12 – point d – point iii (iii) public health and long-term care, including clinics, hospitals, primary care, home services and community-based care;
Amendment 554 #
Proposal for a regulation Annex II – point 12 – point g (g) measures to promote gender equality including women's participation in the labour market;
Amendment 555 #
Proposal for a regulation Annex II – point 12 – point h (h) the integration of vulnerable people, including people with disabilities, LGBTI+ people and third country nationals;
Amendment 556 #
Proposal for a regulation Annex II – point 13 Amendment 557 #
Proposal for a regulation Annex III – point 4 – point 4.1 4.1 Energy: Additional renewable and other safe and sustainable zero
Amendment 558 #
Proposal for a regulation Annex III – point 4 – point 4.2 4.2 Energy: Number of households, number of public and commercial premises with improved energy consumption classification and buildings on NZEBs, passive house or energy plus level;
Amendment 559 #
Proposal for a regulation Annex III – point 5 – point 5.2 a (new) 5.2 a Number of female led enterprises supported, detailed by gender of primary owner and/or majority of the board members
Amendment 56 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence
Amendment 560 #
Proposal for a regulation Annex III – point 6 – point 6.4 a (new) 6.4 a Number of female led enterprises supported detailed by gender of primary owner and/or majority of the board members
Amendment 561 #
Proposal for a regulation Annex III – point 8 – point 8.1 8.1 Number and volume of operations contributing to the provision and/ or improvement of critical infrastructure, broken down by physical infrastructure and the associated goods and services,
Amendment 562 #
Proposal for a regulation Annex III – point 8 – point 8.1 a (new) 8.1 a Number and volume of operations contributing to the reduction of greenhouse gas emissions to a net-zero economy in accordance with the European climate targets;
Amendment 563 #
Proposal for a regulation Annex III – point 8 – point 8.3 8.3 Number and volume of operations contributing to the development of critical technologies and inputs for the security of the Union and its Member States, and civilian components of dual use items
Amendment 564 #
Proposal for a regulation Annex III – point 8 – point 8.4 8.4 Number of enterprises supported by size developing and manufacturing critical technologies and inputs for the security of the Union and its Member States, and civilian components of dual use items
Amendment 565 #
Proposal for a regulation Annex III – point 8 – point 8.4 a (new) Amendment 566 #
Proposal for a regulation Annex III – point 8 – point 8.5 8.5 Number and volume of operations contributing to the supply, manufacturing and stockpiling of critical inputs,
Amendment 567 #
Proposal for a regulation Annex III – point 8 – point 8.7 8.7 Number and volume of operations supporting key enabling and digital technologies that are strategically important for the Union
Amendment 568 #
Proposal for a regulation Annex III – point 8 – point 8.7 a (new) 8.7 a Number and volume of operations to help companies and communities, in particular SMEs, to increase the resilience of their value chains and business models.
Amendment 569 #
Proposal for a regulation Annex IV – point B – indent 8 Amendment 57 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence and cohesion of the Union,
Amendment 570 #
Proposal for a regulation Annex IV – point C – indent 3 Amendment 571 #
Proposal for a regulation Annex V – part 1 – paragraph 2 – point 1 – paragraph 1 – point a (a) Have the nature of a public good for which the operator or company cannot capture sufficient financial benefits (such as education and skills, healthcare and accessibility, security
Amendment 572 #
Proposal for a regulation Annex V – part 1 – paragraph 2 – point 1 – paragraph 1 – point f (f) In the case of support to financing and investment operations under the strategic European investment window, the investment would not have been undertaken or would not have been undertaken
Amendment 573 #
Proposal for a regulation Annex V – part 1 – paragraph 2 – point 2 – paragraph 1 – point 1 (1) To be considered additional to the private sources referred to in point (b) of Article 209(2) of the Financial Regulation, the InvestEU Fund shall support the financing and investment operations of the implementing partners by targeting investments which, due to their characteristics (public good nature, externalities, information asymmetries, socio-economic cohesion considerations or other), are unable to generate sufficient market-level financial returns or are perceived to be too risky (compared to the risk levels that the relevant private entities are willing to accept). Because of those characteristics, such financing and investment operations cannot access market financing at reasonable conditions in terms of pricing, collateral requirements,
Amendment 574 #
Proposal for a regulation Annex V – part 1 – paragraph 2 – point 2 – paragraph 1 – point 3 (3) Financing and investment operations under the strategic European investment window may also be considered additional whenever these operations would not have been carried out
Amendment 575 #
Proposal for a regulation Annex V – part 1 – paragraph 2 – point 2 – paragraph 2 – point b (b) Support provided through equity
Amendment 576 #
Proposal for a regulation Annex V – part 1 – paragraph 2 – point 2 – paragraph 2 – point f a (new) (f a) support to funds, special purpose vehicles, investment platforms or other arrangements under the solvency support window.
Amendment 577 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 2 (2)
Amendment 578 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 11 (11) The decommissioning
Amendment 579 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – introductory part (12) Investments related to
Amendment 58 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence and cohesion of the Union, visible actions in the real economy such as the creation of new jobs, including in the fields of innovation and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises. To that end, the InvestEU Fund should support projects that are technically and economically viable by
Amendment 580 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – introductory part (12) Investments related to mining
Amendment 581 #
(12) Investments related to mining or to the extraction, processing, distribution, storage or combustion of
Amendment 582 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point a Amendment 583 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point a Amendment 584 #
Amendment 585 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point b Amendment 586 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 – point c Amendment 587 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 12 a (new) (12 a) Investments related to the decommissioning, operation, adaptation, construction or lifetime extension of nuclear power stations, or to the management or storage of nuclear waste.
Amendment 588 #
Proposal for a regulation Annex V – part 2 – paragraph 1 – point 15 a (new) (15 a) Investment in airport infrastructure, except for outermost regions, and motorway infrastructure;
Amendment 59 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence and cohesion of the Union, including in the fields of innovation and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social and environmental resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises. To that end, the InvestEU Fund should support projects that
Amendment 60 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence and cohesion of the Union, including in the fields of innovation, education and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises. To that end, the InvestEU Fund should support projects that
Amendment 61 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and upward socio- economic convergence and cohesion of the Union, including in the fields of innovation and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises. To that end, the InvestEU Fund should support projects that are technically and economically viable by
Amendment 62 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence and cohesion of the Union, including in the fields of innovation and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises. To that end, the InvestEU Fund should support projects that are technically and economically viable by providing a framework for the use of debt,
Amendment 63 #
Proposal for a regulation Recital 5 (5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence and cohesion of the Union, including in the fields of innovation and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises. To that end, the InvestEU Fund should support projects that are technically and economically viable by providing a framework for the use of debt,
Amendment 64 #
Proposal for a regulation Recital 5 a (new) (5 a) Investments increasing productivity, ensuring geographical and social cohesion must be secured, certainly at small and medium enterprise level (SMEs), delivering a just transition while strengthening our economies in a situation of an unprecedented crisis, fighting poverty, securing new jobs when old ones are lost, and leaving no one and no generation behind.
Amendment 65 #
(6) The cultural and creative sectors
Amendment 66 #
Proposal for a regulation Recital 6 (6) The cultural and creative sectors are key and fast growing sectors in the Union that can play an important part in ensuring sustainable recovery, generating both economic and cultural value from intellectual property and individual creativity. However, restrictions
Amendment 67 #
Proposal for a regulation Recital 6 (6) The cultural and creative sectors are key and fast growing sectors in the Union, generating both economic and cultural value from intellectual property and individual creativity. However, restrictions on social contacts put in place during the
Amendment 68 #
Proposal for a regulation Recital 6 (6) The cultural and creative sectors are key and fast growing sectors in the Union, generating both economic and cultural value from intellectual property and individual creativity. However, restrictions on social contacts put in place during the Covid-19 crisis had a significantly negative economic impact on these sectors.
Amendment 69 #
Proposal for a regulation Recital 6 (6) The cultural and creative sectors are key and fast growing sectors in the Union, generating both economic and cultural value from intellectual property and individual creativity. However, restrictions on social contacts put in place during the Covid-19 crisis had a significantly negative economic impact on these sectors and their workers. Moreover, the intangible nature of the assets in those sectors limits the access of SMEs and organisations from those sectors to private financing which is essential to be able to invest, scale up and compete at an international level. The InvestEU
Amendment 70 #
Proposal for a regulation Recital 6 (6) The cultural and creative sectors are key and fast growing sectors in the Union, generating both economic and cultural value from intellectual property and individual creativity. However, restrictions on social contacts put in place during the Covid-19 crisis had a significantly negative economic impact on these sectors and their workers. Moreover, the intangible nature of the assets in those sectors limits the access of SMEs and organisations from those sectors to private financing which is essential to be able to invest, scale up and compete at an international level. The InvestEU Programme should continue to facilitate access to finance for SMEs and organisations from the cultural and creative sectors and preserve and protect its workforce. The cultural and creative, audiovisual and media sectors are essential for our cultural diversity and democracy in the digital age, and an intrinsic part of our
Amendment 71 #
Proposal for a regulation Recital 6 (6) The cultural and creative sectors are key and fast growing sectors in the Union, generating both economic and cultural value from intellectual property and individual creativity. However, restrictions on social contacts put in place
Amendment 72 #
Proposal for a regulation Recital 6 (6) The cultural and creative sectors are key and fast growing sectors in the Union, generating both economic and cultural value from intellectual property and individual creativity. However, restrictions on social contacts and organisation of events put in place during the Covid-19 crisis had a significantly negative economic impact on these sectors. Moreover, the intangible nature of the assets in those sectors limits the access of SMEs and organisations from those sectors to private financing which is essential to be able to invest, scale up and compete at an international level. The InvestEU Programme should continue to facilitate access to finance for SMEs and organisations from the cultural and creative sectors. The cultural and creative, audiovisual and media sectors are essential for our cultural diversity and democracy in the digital age, and an intrinsic part of our sovereignty and autonomy, and strategic investments in audiovisual and media content and technology will determine the long-term capacity to produce and distribute content to wide audiences across national borders.
Amendment 73 #
Proposal for a regulation Recital 6 (6) The cultural and creative sectors are
Amendment 74 #
Proposal for a regulation Recital 7 (7) With a view to fostering sustainable and inclusive growth, investment and employment, and thereby contributing to improved well-being, to fairer income distribution and to greater economic, social and territorial cohesion in the Union, the InvestEU Fund should support investments
Amendment 75 #
Proposal for a regulation Recital 7 (7) With a view to fostering sustainable and inclusive growth, investment and employment, and thereby contributing to improved well-being, to fairer income distribution and to greater economic, social and territorial cohesion in the Union, the InvestEU Fund should support investments in tangible and intangible assets, including in cultural heritage. Projects funded by the InvestEU Fund should meet Union environmental and social standards, including standards on labour rights, including seasonal and posted workers rights. Interventions through the InvestEU Fund should complement Union support delivered through grants.
Amendment 76 #
Proposal for a regulation Recital 7 (7) With a view to fostering sustainable and inclusive growth, investment and employment, and thereby contributing to improved well-being, to fairer income distribution and to greater economic, social and territorial cohesion in the Union, the InvestEU Fund should support investments in tangible and intangible assets, including in European cultural heritage. Projects funded by the InvestEU Fund should meet Union environmental and social standards, including standards on labour rights. Interventions through the InvestEU Fund should complement Union support delivered through grants.
Amendment 77 #
Proposal for a regulation Recital 8 Amendment 78 #
Proposal for a regulation Recital 8 (8) The Union endorsed the objectives set out in the United Nations 2030 Agenda for Sustainable Development (the "2030 Agenda"), its Sustainable Development Goals (SDGs) and the Paris Agreement adopted under the United Nations Framework Convention on Climate Change24 ("Paris Agreement on Climate Change") as well as the Sendai Framework for Disaster Risk Reduction 2015-2030. To achieve those objectives, as well as those set out in the environmental policies of the Union, action pursuing sustainable development is to be stepped up significantly. Therefore, the principles of sustainable development, environmental sustainability in line with the EU Taxonomy and Do No Significant Harm principle, climate neutrality and cost of non-action should feature prominently in the design of the InvestEU Fund. _________________ 24 OJ L 282, 19.10.2016, p. 4.
Amendment 79 #
Proposal for a regulation Recital 8 (8) The Union endorsed the objectives set out in the United Nations 2030 Agenda for Sustainable Development (the "2030 Agenda"), its Sustainable Development Goals (SDGs) and the Paris Agreement adopted under the United Nations Framework Convention on Climate Change24 ("Paris Agreement on Climate Change") as well as the Sendai Framework for Disaster Risk Reduction 2015-2030. To achieve those objectives, as well as those set out in the environmental policies of the Union, such as the EU Biodiversity Strategy 2030, action pursuing sustainable development is to be stepped up significantly and environmentally harmful subsidies must be phased-out. Therefore, the principles of sustainable development should feature prominently in the design of the InvestEU Fund. _________________ 24 OJ L 282, 19.10.2016, p. 4.
Amendment 80 #
Proposal for a regulation Recital 8 (8) The Union endorsed the objectives set out in the United Nations 2030 Agenda for Sustainable Development (the "2030 Agenda"), its Sustainable Development Goals (SDGs) and the Paris Agreement adopted under the United Nations Framework Convention on Climate Change24 ("Paris Agreement on Climate
Amendment 81 #
Proposal for a regulation Recital 9 (9) The InvestEU Programme should contribute to building a sustainable finance system in the Union which supports the reorientation of private capital towards sustainable investments in accordance with the objectives set out in the communication of the Commission of 8 March 2018 ‘Action Plan: Financing Sustainable Growth’ and the communication of the Commission of 14 January 2020 on the European Green Deal Investment Plan. Operations supported by the InvestEU Programme should therefore follow, as applicable, the criteria set out in Regulation (EU) 2020/852 of the European Parliament and the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, including the 'do no significant harm' principle.
Amendment 82 #
Proposal for a regulation Recital 9 (9) The InvestEU Programme should contribute to building a sustainable finance system in the Union which supports the reorientation of private capital towards sustainable investments in accordance with the objectives set out in the communication of the Commission of 8 March 2018 ‘Action Plan: Financing Sustainable Growth’ and the communication of the Commission of 14 January 2020 on the European Green Deal Investment Plan. Special actions are needed to address this issue in the EU countries with a weaker financing system.
Amendment 83 #
Proposal for a regulation Recital 9 (9) The InvestEU Programme should contribute to building a sustainable finance system in the Union which supports the reorientation of private capital towards sustainable investments, with impact in the real economy and by supporting the creation of new jobs, in accordance with the objectives set out in the communication of the Commission of 8 March 2018 ‘Action Plan: Financing Sustainable Growth’ and the communication of the Commission of 14 January 2020 on the European Green Deal Investment Plan.
Amendment 84 #
Proposal for a regulation Recital 9 (9) The InvestEU Programme should contribute to building a sustainable finance system in the Union which supports and enables the reorientation of private capital towards environmentally and socially sustainable investments and activities in accordance with the objectives set out in the communication of the Commission of 8 March 2018 ‘Action Plan: Financing Sustainable Growth’ and the communication of the Commission of 14 January 2020 on the European Green Deal Investment Plan.
Amendment 85 #
Proposal for a regulation Recital 10 (10)
Amendment 86 #
Proposal for a regulation Recital 10 (10) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement on Climate Change and the SDGs, the InvestEU Programme will contribute to mainstream climate actions and to the achievement of an overall target of 25 % of the Union budget expenditures supporting climate objectives , including actions and measures that mitigate impact on the workforce and protect workers that are negatively affected by productive transitions. Actions under the InvestEU Programme are expected to contribute 30 % of the overall financial envelope of the InvestEU Programme to climate objectives. Relevant actions will be identified during the InvestEU Programme's preparation and implementation and reassessed in the context of the relevant evaluations and review processes.
Amendment 87 #
Proposal for a regulation Recital 10 (10) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement on Climate Change and the SDGs, the InvestEU Programme will contribute to mainstream climate actions
Amendment 88 #
Proposal for a regulation Recital 10 (10) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the European \green Deal, the Paris Agreement on Climate Change and the SDGs, the InvestEU Programme will
Amendment 89 #
Proposal for a regulation Recital 10 (10) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement on Climate Change and the SDGs, the InvestEU Programme will contribute to mainstream climate actions and to the achievement of an overall target of
Amendment 90 #
Proposal for a regulation Recital 10 (10) Reflecting the importance of tackling climate
Amendment 91 #
Proposal for a regulation Recital 10 (10) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement on Climate Change and the SDGs, the InvestEU Programme will
Amendment 92 #
Proposal for a regulation Recital 10 (10) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement on Climate Change and the SDGs, the InvestEU Programme will contribute to mainstream climate actions and to the achievement of an overall target of
Amendment 93 #
Proposal for a regulation Recital 10 (10) Reflecting the importance of tackling climate change in line with the Union's commitments to implement the Paris Agreement on Climate Change and the SDGs, the InvestEU Programme will contribute to mainstream climate actions and to the achievement of an overall target of
Amendment 94 #
Proposal for a regulation Recital 11 Amendment 95 #
Proposal for a regulation Recital 11 (11) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through a Union climate tracking system to be developed by the Commission in cooperation with potential implementing partners, appropriately using the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment25 ] for determining whether an economic activity is environmentally sustainable. The InvestEU Programme should also contribute to the implementation of other dimensions of the SDGs. In particular, addressing social risks as identified in the UN2030 agenda designing, having heard the European social partners, an assessment framework that monitors impact on economic- wellbeing, quality of employment, fight against labour vulnerability and efficiency of collective bargaining. _________________ 25 COM(2018)353.
Amendment 96 #
Proposal for a regulation Recital 11 (11) The contribution of the InvestEU Fund to the achievement of the climate
Amendment 97 #
Proposal for a regulation Recital 11 (11) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through a Union climate tracking system to be developed by the Commission in cooperation with potential implementing partners, appropriately using the criteria established by [Regulation on the establishment of a
Amendment 98 #
Proposal for a regulation Recital 11 (11) The contribution of the InvestEU Fund to the achievement of the climate target will be tracked through a Union climate tracking system to be developed by the Commission and aligned with the harmonised multilateral development bank methodology on identifying climate action1a in cooperation with potential implementing partners, appropriately using the criteria established by [Regulation on the establishment of a framework to facilitate sustainable investment25
Amendment 99 #
Proposal for a regulation Recital 11 (11) The contribution of the InvestEU Fund to
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CJ16/9/03560
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BUDG/9/03155
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Rules of Procedure EP 57
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procedure/legal_basis/1 |
Rules of Procedure EP 58
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committees/3/rapporteur |
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committees/7/rapporteur |
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