2020/2124(INI) | [ParlTrack]

Draft opinion
Paragraph 1

1. Calls on the Member States to urgently agree on capital increase, both cash-in and callable in nature; calls on the EIB to provide the necessary growth capital to enable SMEs to scale up their operations; stresses the importance of digitalisation and calls for risks to be taken in the area of green and digital innovation in order to catalyse the just and digital transitions and to stop the financing of stranded assets; stresses however that green investments must be viable and the EIB must maintain a high-credit standing (AAA); notes that the climate problem cannot be solved without support of the industry, a large scale change can only be achieved if the industry is taken on board and the necessary incentives are given for innovative climate solutions;

Amendment 10 #

Draft opinion
Paragraph 1 a (new)

1 a. Welcomes the increasing EIB support to the health sector and stresses the need to reinforce public health systems and not contribute to their privatisation; welcomes the investment the EIB is fostering in the fight against the Covid-19 pandemic, currently estimated at 770 million euros, and its active involvement in financing the development of treatments and vaccines; underlines however the dire need for transparency on this matter, and asks the EIB to fully disclose past and upcoming contracts with pharmaceutical companies.

Amendment 11 #

Draft opinion
Paragraph 1 a (new)

1 a. Welcomes the Covid-19 response of the EIB and its efforts to get financing under way swiftly without adding extra red tape and bureaucracy; acknowledges this is especially important for SME financing; appreciates the EIB offering technical assistance to prepare and implement projects, to build the capacity of national or regional partners such as managing authorities, national promotional banks or cities; also welcomes the EIB stepping up its support to the healthcare sector;

Amendment 12 #

Draft opinion
Paragraph 1 a (new)

1 a. Stresses that the COVID-19 crisis has exacerbated the disparities in the EU, its Member States and its regions; calls on the EIB to enhance its efforts for fair, inclusive and sustainable territorial development of all regions thus contributing to social, economic and territorial convergence and cohesion;

Amendment 13 #

Martin HOJSÍK, Vlad GHEORGHE, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Mauri PEKKARINEN, Nils TORVALDS

Draft opinion
Paragraph 1 a (new)

1 a. Welcomes the EIB’s reaction to the COVID-19 crisis by setting up a nearly 25 billion EUR strong Pan- European Guarantee Fund to mobilise up to 200 billion EUR supporting companies and especially SMEs in an unbureaucratic way during the crisis;

Amendment 14 #

Draft opinion
Paragraph 1 a (new)

1 a. Welcomes the ambitions of the EIB Group in reaction to the COVID-19 crisis aiming at general economic recovery, creation of employment, support of vulnerable SMEs, investment in healthcare sector and research;

Amendment 15 #

Draft opinion
Paragraph 1 b (new)

1 b. Recalls the importance for EIB to maintain a high-credit standing (AAA) in order to be able to secure the most preferential financial conditions at the capital markets which it can then pass on to its clients;

Amendment 16 #

Hélène LAPORTE, Valentino GRANT, Anna BONFRISCO

Draft opinion
Paragraph 2

2. Reiterates that all financial flows of the European Investment Bank (EIB) Group should be consistent with the goal of achieving net zero emissions by 2050 at the latest and the Union’s new climate objective for 2030; ~~looks forward to the adoption in 2020 of an ambitious Climate Bank Roadmap 2021-25 (CBRM), which i~~welcomes the adoption of the Climate Bank Roadmap 2021-25 (CBR) on 13 November 2020, and in particular welcomes tohe inclu~~de a detailed strategic and operational framework with milestones and a shadow carb~~sion of the shadow carbon pricing mechanism; underlines however that the Roadmap's provisions alone will not be enough for the Bank to be aligned with the Paris Agreement's objectives; calls on the EIB to shorten the transition peri~~ce of at least EUR 100/tonne by~~od allowing non-Paris aligned projects to be approved only until the end of 20251; calls for all EIB group's financial intermediaries and corporate clients to have a decarbonisation plan in place by the end of 2021; expects a more holistic corporate-level engagement and further requirements for corporate compliance with EU climate targets; warns the EIB against potential double- standards with regards to the Roadmap implementation in and outside the EU, and calls on the EIB to apply the same level of climate ambition for all its loans1a; looks forward to the implementing document of the CBR to strengthen the ambition of the Bank. _________________ 1aEIB Group Climate Bank Roadmap 2021-2025, November 2020, point 4.61

Amendment 17 #

Draft opinion
Paragraph 2

Amendment 18 #

Draft opinion
Paragraph 2

2. Reiterates that all financial flows of the European Investment Bank (EIB) Group should be consistent with the goal of achieving net zero emissions by 2050 at the latest and the Union’s new climate objective for 2030; ~~looks forward to the adoption in 2020 of an~~welcomes the adoption of the ambitious Climate Bank Roadmap 2021-25 (CBRM), ~~which is to include a detailed strategic and operational framework with milestones and a shadow carbon price of at least EUR 100/tonne~~making the EIB the first Multilateral Development Bank to be Paris aligned by the end of 2020 and defining how the EIB Group will align all its activities with the goals and principles of the Paris Agreement in line with the EU’s aim to be carbon neutral by 20250; calls to explore possible options for all financial intermediaries and corporate clients to have a decarbonisation plan in place by the end of 2021; 51a , stresses that such new requirements must not go at the detriment of access to finance for SMEs; _________________ 1aTo stay in line with the previous EP report on the EIB (2019/212& INI), the date should be amended to 2025.

Amendment 19 #

Draft opinion
Paragraph 2

Amendment 2 #

Martin HOJSÍK, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ

Draft opinion
Paragraph 1

1. Calls on the Member States to urgently agree on capital increase, both cash-in and callable in nature; ~~calls for~~welcomes the role the EIB has been playing in the economic recovery linked to the crisis caused by the Covid-19 pandemic; expects in this context for more risks to be taken in the area of green and digital innovation in order to catalyse the just and digital transitions ~~and to stop the financing of stranded assets~~; expects from the Bank the immediate halt to financing of stranded assets; while acknowledging the potential crowding-out effects of the Recovery and Resilience Facility (RRF), calls on the Bank to ensure additionality of investment;

Amendment 20 #

Draft opinion
Paragraph 2

2. Reiterates that all financial flows of the European Investment Bank (EIB) Group should be fully consistent with the goal of achieving net zero emissions by 2050 at the latest and the Union’s new climate objective for 2030; ~~looks forward to the adoption in 2020 of an ambitious~~welcomes the adoption of the Climate Bank Roadmap 2021-25 (CBRM), which ~~is to include a detailed~~reconfirms the EIB´s lasting commitment to align all its operations with the objectives of the Paris Agreement, and which includes a strategic and operational framework with milestones and a proposed shadow carbon price of ~~at least EUR 100/tonne by~~80 EUR/t in 2020, rising to 250 EUR/t in 2030 and up to 800 EUR/t in 20250; calls ~~for~~on the EIB to request all financial intermediaries and corporate clients to have a decarbonisation plan in place as soon as possible and by the end of 20215 at the latest;

Amendment 21 #

Draft opinion
Paragraph 2

Amendment 22 #

Draft opinion
Paragraph 2

Amendment 23 #

Draft opinion
Paragraph 2

Amendment 24 #

Martin HOJSÍK, Mauri PEKKARINEN, Nils TORVALDS

Draft opinion
Paragraph 2 a (new)

2 a. Welcomes the commitment from the EIB in the Climate Bank Roadmap to focus support on sustainable rearing and dairy industries, and in particular to address animal welfare; suggests that the EIB should refrain from investments that facilitate incentives to industrial farming expanding livestock production and which lead directly or indirectly to deforestation and land degradation; calls on the EIB to explicitely exclude the funding of practices such as battery caging and high population densities, tail-docking and routine castration of pigs, and fur farming.

Amendment 25 #

Draft opinion
Paragraph 2 a (new)

2 a. Welcomes the commitment of the EIB to prepare annual progress reports to update its governing bodies on the implementation of the CBR; believes that the progress reports should be published in due time and be easily accessible; calls furthermore for disapproving of projects which are at risk of being non-compliant with the Paris Agreement and which are currently in the process of appraisal;

Amendment 26 #

Martin HOJSÍK, Vlad GHEORGHE, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Mauri PEKKARINEN, Nils TORVALDS

Draft opinion
Paragraph 2 a (new)

2 a. Calls on the EIB to urgently start negotiations with the Commission and Member States on how to leverage on its technical and financial knowledge for the rapid implementation of the Recovery and Resilience Facility and Next Generation EU.

Amendment 27 #

Hélène LAPORTE

Draft opinion
Paragraph 2 a (new)

2a. Is opposed to the current situation whereby some 10% of financing takes place outside the EU on the basis of opaque arrangements with development banks, in particular in Africa;

Amendment 28 #

Draft opinion
Paragraph 2 b (new)

2 b. Expects the EIB Group to support by its new operations the goals of the EU Chemical Strategy for Sustainability by boosting innovation for safe and sustainable-by-design chemicals, materials and products, Circular Economy Action Plan based on non-toxic material cycles and upcoming Zero Pollution Action Plan for water, air and soil;

Amendment 29 #

Martin HOJSÍK, Vlad GHEORGHE, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Mauri PEKKARINEN, Nils TORVALDS

Draft opinion
Paragraph 2 c (new)

2 c. Welcomes the support of the EIB for the development and expansion of renewable energy sources, including geothermal; calls, however, for refraining from support of projects at increased risk of doing harm to the environment and biodiversity-rich areas and for improving disclosure of information and due diligence on projects which it supports;

Amendment 3 #

Martin HOJSÍK, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Mauri PEKKARINEN, Nils TORVALDS

Draft opinion
Paragraph 1

1. CNotes the increasing economic role played by the EIB, also in the context of the economic recovery from the shock created by the coronavirus pandemic; is of the opinion that further assessment of EIB activities and lending policy may be needed to ensure additionality of EIB financing; following this assessment, calls on the Member States to urgently agree on capital increase, both cash-in and callable in nature; calls for risks to be taken in the area of green and digital innovation in order to catalyse the just and digital transitions and to stop the financing of stranded assets;

Amendment 30 #

Draft opinion
Paragraph 2 d (new)

2 d. Encourages the EIB to facilitate by its operations the implementation of goals set within the European Green Deal and its Farm to Fork strategy and Biodiversity Strategy to 2030; calls on the EIB and Member States to follow the precautionary principle, apply necessary safeguards and support operations delivering transition towards sustainable agriculture and management of natural resources with respect to planetary boundaries;

Amendment 31 #

Martin HOJSÍK, Vlad GHEORGHE, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ

Draft opinion
Paragraph 2 e (new)

2 e. Acknowledges the challenges and progress achieved during the implementation of the Natural Capital Financing Facility; calls on the EIB to consider providing a grant component under the Facility to support initial scaling up of local projects and facilitate generating revenues; believes that an evaluation of the Facility should be embedded in a broader assessment of the EIB on how to support ecosystem and biodiversity restoration in the EU;

Amendment 32 #

Draft opinion
Paragraph 3

3. Expects the EIB to comply with Article 191 of the Treaty on the Functioning of the European Union by applying the precautionary principle, and to put on hold disbursement, and, if necessary, to withdraw funding, if there is evidence or a serious risk of adverse impacts~~; expects the EIB to conduct thorough monitoring that fully takes into account concerns expressed by concerned parties and stakeholders, in particular those pertaining to human rights violations;~~ on climate, and/or environment, and/or local communities; calls for the suspension of funding where local authorities have notified possible violations of the relevant legislation, at least until investigations and judicial processes at national level are concluded; expects the inclusion of human rights due diligence obligation for all projects in order to prevent any abuse, unfair expropriation or violence against local populations, and demands from the Bank to take immediate and firm action once it is informed, for instance by human rights and environmental activists or whistleblowers, of the involvement of a client or beneficial owner in a human rights and environment defenders reprisal, and withdraw funding when such involvement is proven; recalls that the Commission asked the EIB to share more information on the effective application of contractual clauses enabling the EIB to halt or withdraw funding 1a and expects that the Parliament will have full access to this information; expects the EIB to conduct thorough monitoring that fully takes into account concerns expressed by concerned parties and stakeholders, in particular those pertaining to human rights violations; demands that the Bank take immediate and firm action once it is informed of the involvement of a client or beneficial owner in a human rights or environmental defenders reprisal; _________________ 1aExecutive summary of the evaluation of Decision No 466/2014/EU of the European Parliament and of the Council of 16 April 2014 granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union {SWD(2019) 333 final} 13 September 2019

Amendment 33 #

Martin HOJSÍK, Vlad GHEORGHE, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Mauri PEKKARINEN, Nils TORVALDS

Draft opinion
Paragraph 3

3. Expects the EIB to comply with Article 191 of the Treaty on the Functioning of the European Union and, respecting the relevant legal provisions of EIB finance contracts, to put on hold disbursement, and, if necessary, to withdraw funding, if there is evidence or a serious risk of adverse impacts; expects the EIB to conduct thorough monitoring that fully takes into account concerns expressed by concerned parties and stakeholders, in particular those pertaining to human rights violations;

Amendment 34 #

Hélène LAPORTE

Draft opinion
Paragraph 3

3. Expects the EIB to comply with Article 191 of the Treaty on the Functioning of the European Union and to put on hold disbursement, and, if necessary, to withdraw funding, if there is evidence or a serious risk of adverse impacts; expects the EIB to conduct thorough monitoring that fully takes into account concerns expressed by concerned parties and stakeholders~~, in particular those pertaining to human rights violations~~;

Amendment 35 #

Mircea-Gheorghe HAVA

Draft opinion
Paragraph 3

3. Expects the EIB to comply with Article 191 of the Treaty on the Functioning of the European Union and to put on hold disbursement, and, if necessary, to withdraw funding, if there is evidence or a serious risk of adverse impacts; expects the EIB to conduct thorough monitoring that fully takes into account concerns expressed by concerned parties and stakeholders, in particular those pertaining to human rights violations and breaches of the rule of law;

Amendment 36 #

Draft opinion
Paragraph 3

3. Expects the EIB to comply with Articles 11 and 191 of the Treaty on the Functioning of the European Union and to put on hold disbursement, and, if necessary, to withdraw funding, if there is evidence or a serious risk of adverse impacts; expects the EIB to conduct thorough monitoring that fully takes into account concerns expressed by concerned parties and stakeholders, in particular those pertaining to human rights violations;

Amendment 37 #

Draft opinion
Paragraph 3

3. Expects the EIB to comply with Article 191 of the Treaty on the Functioning of the European Union and, if possible within legal remits established for the financing, to put on hold disbursement, and, if necessary, to withdraw funding, if there is evidence or a serious risk of adverse impacts; expects the EIB to co~~nduct thorough monitoring that fully takes into account concerns expressed by concerned parties and stakeholders, in particular those pertaining to human rights violations~~mmit to the protection of Human Rights as enshrined in its Environmental and Social Framework;

Amendment 38 #

Draft opinion
Paragraph 3 a (new)

3 a. Expects the EIB to conduct Human Rights Impact Assessments at project level, as well as to continuously monitor the implementation of projects on the ground; calls in this regard the Bank to engage actively with local communities, and to inform them accordingly of their rights, with a special focus to implement a free, prior and informed consent, including their access to a Complaints Mechanism.

Amendment 39 #

Draft opinion
Paragraph 3 a (new)

3 a. Underlines the pivotal role of SMEs as the backbone of Europe's economy, representing almost 99% of all businesses and providing around three- quarters of all jobs, while being key drivers of innovation; points out that SMEs have been severely hit by the COVID-19 crisis; calls on the EIB to further enhance its support to SMEs;

Amendment 4 #

Hélène LAPORTE, Anna BONFRISCO, Valentino GRANT

Draft opinion
Paragraph 1

1. Calls on the Member States to urgently agree on capital increase, both cash-in and callable in nature; calls for risks to be taken in the area of green and digital innovation in order to catalyse the just and digital transitions and to stop the financing of stranded assets; moreover, the European Investment Bank (EIB) should increase its support to fight unemployment in the regions most affected by the COVID-19 crisis; furthermore supporting public administration projects for the digitalisation of rural areas and the national health system;

Amendment 40 #

Draft opinion
Paragraph 4

Amendment 41 #

Draft opinion
Paragraph 4

4. Expects the ~~CBRM and the~~ EIB’s revised transport lending policy ~~not to~~to be faull ~~below the standard of EU taxonomy~~y aligned with the Paris Agreement objectives and to complement the recently adopted CBR; calls for no new loans to be granted that hinder the decarbonisation of transport, and, in particular, no new financing to be awarded for the expansion of airports, for increased road capacity, for port expansions in Europe and related infrastructure or for the shipping of liquefied natural gas; states that the expansion and creation of special economic zones should not be subject to EIB funding; believes that more funding should be directed at low-carbon transportation, especially cycling and public transport, in particular to serve the underserved communities and localities.

Amendment 42 #

Erik BERGKVIST

Draft opinion
Paragraph 4

Amendment 43 #

Martin HOJSÍK, Vlad GHEORGHE, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Mauri PEKKARINEN, Nils TORVALDS

Draft opinion
Paragraph 4

4. Expects the CBRM and the EIB’s revised transport lending ~~policy not~~ to fall below the standard of EU taxonomy; calls for no new loans to be granted that hinder the decarbonisation of transport, and, in particular, no new financing to be awarded for the expansion of airports, for increased road capacity, for port expansions in Europe and related infrastructure or for the shipping of liquefied natural gaign with EU standards; requests the EIB to take into account the Commission’s strategy for sustainable and smart mobility and other relevant of EU transport policy plans;

Amendment 44 #

Mircea-Gheorghe HAVA

Draft opinion
Paragraph 4

4. Expects the CBRM and the EIB’s revised transport lending policy not to fall below the standard of EU taxonomy; calls for no new loans to be granted that hinder the decarbonisation of transport, and, in particular, ~~no new~~for a reduction in the level of financing to be awarded for the expansion of airports, for increased road capacity, for port expansions in Europe and related infrastructure or for the shipping of liquefied natural gas, while adjusting the decarbonisation requirements for this type of investment;

Amendment 45 #

Draft opinion
Paragraph 4

4. ~~Expects~~Believes that the CBRM and the EIB’s revised transport lending policy may not to fall below the standard of EU taxonomy; calls for no new loans to be granted that hinder the decarbonisation of transport, and, in particular, no new financing to be awarded for the expansion of airports, for increased road capacity, for port expansions in Europe and related infrastructure or for the shipping of liquefied natural gas; recommendations of the Technical Expert Group on Sustainable Finance1a and must apply the Do No Harm principle; calls for no new loans to be granted that hinder the decarbonisation of transport or transition towards sustainable, affordable and zero carbon mobility; highlights the need to ensure full alignment of EIB activities in the area of mobility with the EU climate goals; _________________ 1a https://ec.europa.eu/info/sites/info/files/bu siness_economy_euro/banking_and_finan ce/documents/200309-sustainable- finance-teg-final-report-taxonomy_en.pdf

Amendment 46 #

Draft opinion
Paragraph 4

Amendment 47 #

Draft opinion
Paragraph 4

4. Expects the CBRM and the EIB’s revised transport lending policy ~~not~~ to fal~~l below~~ign with the standard of EU taxonomy; ~~calls for no new loans to be granted that hinder the decarbonisation of~~expects the EIB to align its transport, a~~nd, in particular, no new financing to be awarded for the expansion of airports, for increased road capacity, for port expansions in~~ctivities with the Climate Bank Roadmap, but also with the Commission’s upcoming strategy for sustainable and smart mobility as a response to the new Europe an~~d related infrastructure or for the shipping of liquefied natural gas~~ Green Deal, and with other areas of EU transport policy;

Amendment 48 #

Draft opinion
Paragraph 4

4. Expects the CBRM and the EIB’s revised transport lending policy ~~not to fall below the standard of EU taxonomy~~to respect the principle of Do No Significant Harm; calls for no new loans to be granted that hinder the decarbonisation of transport, and, in particular, no new financing to be awarded for the expansion of airports, for increased road capacity, for port expansions in Europe and related infrastructure or for the shipping of liquefied natural gas;

Amendment 49 #

Draft opinion
Paragraph 4

4. Expects the CBRM and the EIB’s revised transport lending policy not to fall below the standard of EU taxonomy; calls for no new loans to be granted that hinder the decarbonisation of transport, and, in particular, no new financing to be awarded for the expansion of airports, for increased road capacity, for port expansions inon the EIB to align the lending policy with the European Commission’s strategy for sustainable and smart mobility and with other relevant areas of EU transport policy; calls on the EIB to involve stakeholders and the Europe an~~d related infrastructure or for the shipping of liquefied natural gas;~~ Parliament when preparing the new transport lending policy.

Amendment 5 #

Draft opinion
Paragraph 1

1. Calls on the Member States to urgently agree on capital increase, both cash-in and callable in nature; calls for risks to be taken in the area of green and digital innovation in order to catalyse the just and digital transitions and to stop the financing of stranded assets; underlines that priority should be given to the projects directly aiming at the economic and social recovery from the crisis brought by Covid-19 pandemic;

Amendment 50 #

Martin HOJSÍK, Vlad GHEORGHE, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Mauri PEKKARINEN

Draft opinion
Paragraph 4 a (new)

4 a. Calls on the EIB to dedicate particular attention to the financing of public transport development and modernisation as part of its lending policy; emphasises the need to finance sustainable mobility and sustainable urban design projects, i.a. with the use of the Public Sector Loan Facility, in the areas particularly affected by traffic congestion and underdeveloped road network;

Amendment 51 #

Draft opinion
Paragraph 4 a (new)

4 a. Acknowledges the importance of technical assistance which can facilitate balanced geographical allocation of investments and optimal absorption of EU funds; believes that current annual target for cohesion lending of 30% of all new operations can serve as a solid stepping- stone for increased investment activities leading to economic, social and territorial cohesion;

Amendment 52 #

Hélène LAPORTE, Anna BONFRISCO, Valentino GRANT

Draft opinion
Paragraph 4 a (new)

4a. Takes the view that, in keeping with the EIB's current position, new road construction projects should undergo an economic test incorporating a higher carbon price, so that full account can be taken of the related environmental externalities;

Amendment 53 #

Martin HOJSÍK, Vlad GHEORGHE, Nicolae ŞTEFĂNUȚĂ, Nils TORVALDS

Draft opinion
Paragraph 4 b (new)

4 b. Believes that the new Transparency Policy of the EIB should ensure timely and systematic publishing of the content of the meetings of all the EIB’s governing bodies; calls specifically for more transparency concerning the meetings of the Management Committee and their outcomes, for publishing the minutes of the Board of Directors meetings directly after the meeting and for inclusion of information better reflecting the discussions at these meetings; highlights further the importance of publishing information relating to direct loans subject to the approval of the Management Committee, including by publishing for each project the opinion of the Commission and that of the Member State in which the project is located, as well as the Three Pillar Assessment, Results Measurement (ReM) sheets and/or EFSI Scoreboard, where applicable, along with the GHG Carbon Footprint Assessment, the ERR and FIRR calculations and the Overall Environmental and Social Assessment Form;

Amendment 54 #

Martin HOJSÍK, Vlad GHEORGHE, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Nils TORVALDS

Draft opinion
Paragraph 4 b (new)

4 b. Underlines the need to achieve economic rebalancing between Eastern and Western EU Member States, particularly by investing in the long-term projects in the Member States benefitting from cohesion policy, so as to accelerate the improvement of their development and growth factors and by this means narrow the economic development gap between the countries;

Amendment 55 #

Draft opinion
Paragraph 4 c (new)

4 c. Encourages the EIB to design its new Transparency Policy in a way that enhances transparency and access to information regarding the contracting and subcontracting system, the results of internal investigations and the selection, monitoring and evaluation of its activities and programmes; calls on the EIB to publish the monitoring reports and promoter’s reports immediately after their receipt;

Amendment 56 #

Draft opinion
Paragraph 5

5. Welcomes the review of the EIB Environmental Social Standards and calls for a wide and inclusive public consultation; expects all projects to include more comprehensive gender and human rights dimensions and due diligence obligations~~; calls for the EIB to publish ‘Know Your Customer’ checks before approving any project.~~ for all projects; welcomes the progress achieved in the implementation of the EIB Gender strategy, and looks forward to an ambitious version of the upcoming Gender Action Plan II 2021- 2024; suggests to draw on the example of the UK's development finance institution CDC Group's gender strategy and toolkit; calls on the EIB to collect gender- disaggregated data in order to assess and address gender inequality in lending; urges the EIB to assess the gender impact of projects on the ground and conduct gender impact assessments of projects, and to connect with independent experts to this end; suggests that gender mainstreaming becomes a permanent point on the EIB board’s agenda; asks the EIB to allocate more human resources in charge of Human Rights and gender equality; calls for inclusion of the Bank in the scope of the EU directive on the fight against money laundering and in particular to publish ‘Know Your Customer’ checks before approving any project; underlines the importance of independent audits to reveal any shortcomings in the application of Anti- Money Laundering standards, and asks for more transparency, especially to make public any decision made to address said shortcomings; demands that the European Court of Auditors be granted full auditing powers.

Amendment 57 #

Hélène LAPORTE

Draft opinion
Paragraph 5

Amendment 58 #

Draft opinion
Paragraph 5

Amendment 59 #

Hélène LAPORTE, Anna BONFRISCO, Valentino GRANT

Draft opinion
Paragraph 5

Amendment 6 #

1. Calls on the Member States ~~to urgently~~, if circumstances so warrant, to agree on capital increase, both cash-in and callable in nature; calls for ~~risks to be taken in~~particular attention to be paid to the area of green and digital innovation ~~in order to catalyse the just and digital transitions and to stop the financing of stranded assets~~;

Amendment 60 #

Martin HOJSÍK, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Mauri PEKKARINEN, Nils TORVALDS

Draft opinion
Paragraph 5

5. Welcomes the review of the EIB Environmental Social Standards and calls for a wide and inclusive public consultation; expects all projects to include more comprehensive gender and human rights dimensions and due diligence obligations; expects entrepreneurial support to projects promoted by youth and women; calls for the EIB to publish ‘Know Your Customer’ checks before approving any project.

Amendment 61 #

Draft opinion
Paragraph 5

5. Welcomes the review of the EIB Environmental Social Standards and calls for a wide and inclusive public consultation; expects all projects to include sound pollution prevention and biodiversity proofing, more comprehensive gender and human rights dimensions and due diligence obligations; calls for the EIB to publish ‘Know Your Customer’ checks before approving any project.

Amendment 62 #

Martin HOJSÍK, Vlad GHEORGHE, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Mauri PEKKARINEN, Nils TORVALDS

Draft opinion
Paragraph 5

Amendment 63 #

Draft opinion
Paragraph 5 a (new)

5 a. Believes that the EIB should ensure the highest level of integrity of its financial intermediaries, and that their loans should become subject to the same transparency requirements as other types of loan; calls on the EIB to regularly publish the allocation list of final beneficiaries of intermediary finance operations; calls on the EIB to amend the "EIB template contractual clauses on environmental matters" and accordingly the contracts with the financial intermediaries so that there are clear requirements as to what environmental information needs to be collected by the financial intermediary and passed onto the Bank for publication; calls on the EIB to cease working with financial intermediaries with a negative track record as regards transparency, fraud, corruption, organised crime or money laundering, respect for human rights or environmental protection; stresses that such new requirements should not be to the detriment of access to finance for SMEs;

Amendment 64 #

Draft opinion
Paragraph 5 a (new)

5 a. Underlines that the coronavirus pandemic has been a significant shock for the EU and the global economy, with severe economic and social impacts; underlines that SMEs are the backbone of European economy, but many SMEs are facing unprecedented challenges, especially liquidity challenges due to the pandemic; in this context, welcomes the EIB €25bn protection shield EU guarantee fund, which aims to make more financing available for small and medium companies and mid-caps via financial intermediaries; supports also the agreement reached by the European Parliament and the Council on the InvestEU instrument, which provides a window dedicated to SMEs and horizontal provisions allowing capital support; calls on the EIB and the participating Member States to prioritise policies enhancing job creation and retention and to monitor and measure the impact of the funds to ensure real outcomes.

Amendment 65 #

Draft opinion
Paragraph 5 a (new)

5 a. Highlights that in 2019, 12,5% of EIB loans concerned projects outside of the EU, amounting to around a third of all EU institutions' official development assistance; recalls the Commission's statement that the EIB should better align the External Lending Mandate operations with EU policies1a. _________________ 1a Executive summary of the evaluation of Decision No 466/2014/EU of the European Parliament and of the Council of 16 April 2014 granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union {SWD(2019) 333 final} 13 September 2019

Amendment 66 #

Draft opinion
Paragraph 5 a (new)

5 a. Calls for Parliament’s oversight to be strengthened in order to enhance EIB’s accountability and the democratic scrutiny of its policies and investments, including the ability to submit questions for written answer to the EIB as already provided for the ECB;

Amendment 67 #

Draft opinion
Paragraph 5 a (new)

5 a. Expects that the EIB continues to sustain European SMEs also in light of the risks deriving from the twin transition, green and digital;

Amendment 68 #

Draft opinion
Paragraph 5 b (new)

5 b. Recalls that EIB funds are public money and should always be subject to public scrutiny and accountability; regrets the lack of transparency in the use of EIB loans by the European company Volkswagen, as underlined by the European Ombudsman in its decision of 28 November 2019 which states a "serious misuse of public funds and misrepresentations by a leading European company as to their purpose"1a; calls on the EIB to apply stricter checks and due diligence in order to avoid such similar cases in the future, and more especially to disclose any relevant information related to cases of serious misuses of public funds. _________________ 1aDecision in case 805/2018/MIG on the European Investment Bank’s refusal to grant public access to documents regarding a loan to Volkswagen, 28 November 2019

Amendment 69 #

Martin HOJSÍK, Vlad GHEORGHE, Nicolae ŞTEFĂNUȚĂ, Mauri PEKKARINEN, Nils TORVALDS

Draft opinion
Paragraph 5 b (new)

5 b. Welcomes the improvement in diversity in the EIB in gender balance with an increase of women at senior officer and management level positions to 33% and 30% respectively in 2019; welcomes the targets set by the EIB for 2021 to further increase the share of women in these positions; calls on the EIB to continue to promote all forms of diversity and inclusion within its organisation and to set ambitious targets.

Amendment 7 #

Draft opinion
Paragraph 1

1. Calls on the Member States to urgently agree on capital increase, both cash-in and callable in nature; calls for ~~risks to be taken~~expansive investment approach in the area of green and digital innovation in order to catalyse the just and digital transitions and to ~~stop~~prevent the financing of stranded assets;

Amendment 70 #

Martin HOJSÍK, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Mauri PEKKARINEN, Nils TORVALDS

Draft opinion
Paragraph 5 b (new)

5 b. Recognizes the added value of EU Ombudsman investigations which can lead towards more effective and transparent administration; calls in this regard on the EIB to implement recommendations of the EU Ombudsman in good time;

Amendment 71 #

Draft opinion
Paragraph 5 b (new)

5 b. Expects the EIB Group to continue its diversification efforts with a view to create a pan-European financial ecosystem capable of sustaining innovative companies also in countries where the equity market is less developed;

Amendment 72 #

Draft opinion
Paragraph 5 c (new)

5 c. Calls on the EIB to meet the objectives of its Social Standards and its Strategy for Gender Equality and Women's economic empowerment, and allocate the required internal resources, including human resources, to ensure its full implementation; asks for an update on the gender strategy implementation; calls for gender impacts to be considered also at project level.

Amendment 73 #

Draft opinion
Paragraph 5 c (new)

5 c. Calls on the EIB to create a development bank to ensure that development financing is aligned to the priorities of the EU andits economic diplomacy, in order to achieve the strategic autonomy of theEuropean Union; expects the Commission and Member States to privilege the EIB and the new development bank for the implementation of development finance programmes.

Amendment 74 #

Martin HOJSÍK, Olivier CHASTEL, Mauri PEKKARINEN, Nils TORVALDS

Draft opinion
Paragraph 5 c (new)

5 c. Notes that the EIB has approved several loans worth hundreds of millions of euros to deploy 5G networks in European Member states; regrets however that prior to these approvals, no comprehensive study has been conducted on the environmental and health impact of the deployment of this technology.

Amendment 75 #

Draft opinion
Paragraph 5 c (new)

5 c. Calls on the EIB to further reinforce the implementation of its Social Standards and Strategy for Gender Equality and Women’s Economic Empowerment, and allocate the required internal resources accordingly;

Amendment 76 #

Martin HOJSÍK, Vlad GHEORGHE, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Nils TORVALDS

Draft opinion
Paragraph 5 d (new)

5 d. Invites the EIB to hold an interinstitutional exchange of views on its contributions towards tackling global challenges and pursuing common goals, including the Sustainable Development Goals, and to assess the progress made with regards to the Resolution on the financial activities of the EIB – annual report 2019 adopted on 10 July 2020.

Amendment 77 #

Draft opinion
Paragraph 5 d (new)

5 d. Reiterates the request to publish the content of the meetings of all the EIB’s governing bodies systematically, and asks for more transparency concerning the meetings of the Management Committee, including meeting agendas and external meetings, and their outcomes.

Amendment 78 #

Draft opinion
Paragraph 5 e (new)

5 e. Calls on a new ambitious standard on financial intermediaries, with specific benchmarks to select intermediaries following stringent tax, transparency, environmental and social standards.

Amendment 79 #

Draft opinion
Paragraph 5 f (new)

5 f. Notes that the corona pandemic has had a huge negative impact on children’s education and wellbeing across the globe, with millions of children still lacking access to education due to lockdown measures and therefore being at risk of regression and suffering potential lifelong effects; welcomes the EIB's investment in education, as investing in education helps to eradicate poverty, boost economic growth and improve gender equality; calls on the EIB to increase its investment into education to help mitigate the severe impact of the corona crisis on education systems globally.

Amendment 8 #

Nicolae ŞTEFĂNUȚĂ

Draft opinion
Paragraph 1 a (new)

1 a. Recalls the need to make the geographical distribution of EIB financing more balanced; calls for the EIB to address systemic deficiencies that prevent certain regions or countries from taking full advantage of EIB financial opportunities, inter alia by strengthening its efforts to expand its loan activities by providing technical assistance and advisory support, especially in regions with low investment capacity and that did not benefit significantly from the derogation to the State aid rules during the pandemic crisis because of the lack of financial capacity of the State, and by advising on the development of projects, with a view to promoting inclusive growth and economic, social and territorial convergence and cohesion and considering the demand-driven nature of EIB financing;

Amendment 80 #

Draft opinion
Paragraph 5 g (new)

5 g. The lack of access to finance for SMEs and midcaps, particularity in the innovation field, remains a structural market failure; calls on the EIB to enhance cooperation with financial intermediaries and NPBIs in order to reach a wide array of SMEs and midcaps; calls on the EIB to priorities projects creating sustainable jobs and reducing inequalities as well as growth capital to enable SMEs to scale up their operations.

Amendment 81 #

Draft opinion
Paragraph 5 h (new)

5 h. Notes that the EIB will play a key role in Europe's corona pandemic recovery; calls on the EIB to be prepared for an important advisory role on investment in the just climate and digital transitions, SMEs, cohesion, and the recovery; calls on the EIB to maximise investment levels to curb long term negative impacts of the pandemic.

Amendment 82 #

Draft opinion
Paragraph 5 i (new)

5 i. Looks forward to the EIB review of its transparency policy in 2021; calls on the EIB to increase pro-activeness in the timely publication of more ample information on its financing activities as with increased responsibility must come increased accountability, also towards the European Parliament; reminds that transparency is one of the cornerstones of democracy.

Amendment 83 #

Draft opinion
Paragraph 5 j (new)

5 j. Welcomes the increased EIB investment in the health sector, including in R&D and innovation for developing a coronavirus vaccine; however, stresses that EIB activities should not contribute towards increasing privatisation of healthcare.

Amendment 84 #

Draft opinion
Paragraph 5 k (new)

5 k. Calls on the EIB to apply more stringent tax transparency standards, namely subjecting the granting of direct and indirect loans to publication of tax and accounting data country by country by the beneficiaries and to the sharing of beneficial ownership data on the beneficiaries and financial intermediaries involved in financing operations;

Amendment 85 #

Draft opinion
Paragraph 5 l (new)

5 l. Calls on the EIB to deepen its cooperation with OLAF, the Court of Auditors, and the European Public Prosecutor’s Office (EPPO); takes the view that European Public Prosecutor's Office (EPPO) should in the future have the mandate to prosecute criminal activity with regards to EIB funds in the EU Member States which are members of the EPPO;

Amendment 86 #

Luis GARICANO, Martin HOJSÍK, Nicolae ŞTEFĂNUȚĂ

Draft opinion
Paragraph 5 m (new)

5 m. Notes that the EIB is still reviewing its anti fraud policy and urges the EIB to swiftly adopt the updated policy; calls on the EIB to step up its due diligence obligations in line with EU Anti- Money Laundering legislation, and provide a complete regulatory framework to allow the Bank to effectively prevent involvement in illegal activity and ensure a proper sanctioning regime for failure to comply with EU law; calls on the EIB to enhance checks on politically exposed persons.

Amendment 9 #

Draft opinion
Paragraph 1 a (new)

1 a. Calls for the European Investment Bank Group to step up its efforts to support the economic recovery after the pandemic; is concerned about the meagre take uprate of the EUR25bn Pan- European Guarantee Fund, and attributes this to the Group’s risk profile; proposes therefore that the Commission and the private sector make a capital injection to the European Investment Fund so as to dilute the EIB’s controlling stake, hence allowing the Fund to support the European economy by increasing its risk appetite; highlights that this proposal would allow the Fund to invest more heavily in distressed assets, such as by building on its previous experience with financial guarantees and acting as an Asset Protection Scheme for companies affected by the pandemic.

source: 662.077

2021/02/03 DEVE 43 amendments...

Amendment 1 #

Draft opinion
Recital A

A. whereas in 2019 the European Investment Bank (EIB) approved loans worth EUR 7.8 billion for projects outside the Union, including EUR 1.1 billion in least developed countries (LDCs) and fragile states, but in the past the bulk of that assistance has nevertheless concerned middle-income countries;

Amendment 10 #

Draft opinion
Paragraph 1 a (new)

1 a. Believes that the projects financed by the EIB in developing countries must be coherent with EU Policy Coherence for Development, in particular with the achievement of the SDGs, the commitments of the Paris agreement and the green deal and respect the ILO core conventions;

Amendment 11 #

Draft opinion
Paragraph 2

2. Stresses the ‘policy first’ principle and the notion of ‘open architecture’ underpinning the European Fund for Sustainable Development Plus (EFSD+) - External Action Guarantee(EAG), which should enhance coherence and coordination among the EIB, EBRD, European Development Finance institutions (DFIs), national development agencies, the Commission and Member States in identifying investment operations that can contribute to sustainable development; is concerned about the use of EU development funds for de-risking private investment given the lack of evidence as to the capacity of this financial modality to demonstrate additionality and fulfil development objectives, as recently reported per the final review of EFSD as well as the opinion of the European Court of Auditors (No 7/2020); stresses the need for donors to prioritise grant-based financing as the default option, especially to LDCs, and not favour blending, guarantee or any loans over grants, that fall short of SDGs and could increase the burden of debt;

Amendment 12 #

Beata KEMPA, Ryszard CZARNECKI

Draft opinion
Paragraph 2

2. Stresses the ‘policy first’ principle underpinning the European Fund for Sustainable Development Plus (EFSD+), which should enhance coherence and coordination among the EIB, the Commission and Member States in identifying investment operations that can contribute to sustainable development; is of the opinion that the EIB should avoid excessive overreliance on projects implemented by transnational companies and financial intermediaries that do not prioritize development projects, such as private equity funds;

Amendment 13 #

Draft opinion
Paragraph 2

2. Stresses the ‘policy first’ principle underpinning the European Fund for Sustainable Development Plus (EFSD+), which should enhance coherence and coordination among the EIB, the Commission and Member States in identifying investment operations that can contribute to sustainable development and respond to increasing challenges caused by the COVID-19 pandemic;

Amendment 14 #

Barry ANDREWS

Draft opinion
Paragraph 2

Amendment 15 #

Draft opinion
Paragraph 2

2. Stresses the ‘policy first’ principle underpinning the European Fund for Sustainable Development Plus (EFSD+), which should further enhance coherence and coordination among the EIB, the Commission and Member States in identifying investment operations that can contribute to sustainable development;

Amendment 16 #

Draft opinion
Paragraph 2 a (new)

2 a. Welcomes the commitments made by the EIB towards countering tax evasion of beneficiary companies for development projects; calls on the EIB to prevent companies controlled by entities located in countries listed on the EU blacklist of prohibited jurisdictions from accessing EIB financing; calls on the EIB to require potential beneficiary companies to disclose information about their tax payments in each country in which they operate as a precondition for accessing EIB financing;

Amendment 17 #

Draft opinion
Paragraph 2 a (new)

2 a. As all EIB shareholders are committed to the G20 commitment to suspend the debt of 77 countries following the debt crisis linked to the COVID-19 outbreak, calls on the EIB to apply a suspension to its pending loans, to carefully assess the debt impact of its future operations, and to express public support to the creation of a multilateral debt workout mechanism to address both the impact of the crisis and the financing requirements of the Agenda 2030;

Amendment 18 #

Draft opinion
Paragraph 2 a (new)

2 a. Believes that the primary objective for EIB interventions in developing countries should be supporting local development and actors, projects aiming to reduce inequalities and poverty , climate change mitigation, strengthening public services and supporting domestic resource mobilization;

Amendment 19 #

Draft opinion
Paragraph 2 a (new)

2a. Expresses concern, however, at the risks associated with ‘greenwashing’ and calls for appropriate criteria defining sustainable investments to be introduced so as to arrest that tendency;

Amendment 2 #

Draft opinion
Recital A a (new)

A a. whereas the High-Level Group of Wise Persons (HLGWP) on the European financial architecture for development released its final report on 7th October 2019 with 3 possible options to build the future European Climate and Sustainable Development Bank, as follow: a) building on the EBRD and the external financing activities of the EIB; b) pulling together the external activities of the current EU financial institutions in a new financial institution with mixed ownership; c) transferring all external activities of the EIB into an EIB subsidiary with significant other shareholders; whereas Council Conclusions of December 2019 indicated that only option a) and c) should be explored; whereas the results of feasibility studies on each options which were supposed to be delivered in Autumn 2020 are still expected;

Amendment 20 #

Draft opinion
Paragraph 2 b (new)

2 b. reiterates its longstanding demands that the European Court of Auditors be empowered to audit all EIB operations, and that these audits be made public;

Amendment 21 #

Draft opinion
Paragraph 2 b (new)

2 b. calls the EIB to avoid supporting speculative funds, such as private equity funds, whose purposes are not those of development support

Amendment 22 #

Draft opinion
Paragraph 3

3. Calls on the EIB to ~~maximis~~ensure additionality and the development impact of its operations outside the Union by increasing its engagement in LDCs, enhancing the transparency of operations carried out by financial intermediaries notably thanks to the disclosure of the name of the final beneficiary, the amount received, the type of project and related environmental information, cooperating with EU delegations, and increasing its presence on the ground w~~here necessary~~ith additional staff focusing on development issues;

Amendment 23 #

Draft opinion
Paragraph 3

3. Calls on the EIB to maximise additionality and the development impact of its operations outside the Union by increasing its engagement in LDCs, enhancing the transparency of operations carried out by financial intermediaries, cooperating with EU delegations, and increasing its presence on the ground where necessary; The EIB should only finance clients that demonstrate willingness and experience in positive sustainable development impacts, and refrain supporting those primarily seeking profit maximisation, such as investment funds.

Amendment 24 #

Barry ANDREWS

Draft opinion
Paragraph 3

3. Calls on the EIB to maximise additionality and the development impact of its operations outside the Union by increasing its engagement in LDCs, enhancing the transparency of operations carried out by financial intermediaries, cooperating with EU delegations, and increasing its presence on the ground where necessary; notes that private sector investment will be essential to fill the funding gap for the SDGs; recalls the crucial role of the EIB in de-risking private investment, particularly in fragile contexts;

Amendment 25 #

Beata KEMPA, Ryszard CZARNECKI

Draft opinion
Paragraph 3

3. Calls on the EIB to maximise additionality and the development impact of its operations outside the Union by increasing its engagement in LDCs, and particularly very fragile states, by enhancing the transparency of operations carried out by financial intermediaries, cooperating with EU delegations, and increasing its presence on the ground where necessary, and by targeting small and medium-sized enterprises in so far as this is possible;

Amendment 26 #

Draft opinion
Paragraph 3

3. Calls on the EIB to maximise additionality and the development impact of its operations outside the Union by increasing its engagement in LDCs, enhancing the transparency of operations carried out by financial intermediaries, cooperating with EU delegations, and increasing its presence on the ground where necessary in partnership with local institutions, authorities and initiatives and responding adequately to local needs;

Amendment 27 #

Draft opinion
Paragraph 3 a (new)

3 a. Notes that the European Ombudsman has opened three inquiries on the EIB concerning the disclosure of information about projects it finances directly, the information about projects administered by national banks or financial institutions, and the access to minutes of the meetings of its Management Committee; calls on the EIB to disclose this information in order to enhance its transparency and accountability;

Amendment 28 #

Draft opinion
Paragraph 3 a (new)

3 a. Stresses the importance to further enhance the existing monitoring framework of the EIB to better assess and track the inputs and outputs of different projects, to monitor technical assistance activities and results, to facilitate financing as well as to strengthen technical advice operations;

Amendment 29 #

Draft opinion
Paragraph 3 a (new)

3a. Calls on the EIB to focus on local partners when it comes to technical assistance, particularly for the setting-up of projects, not least in the case of projects involving least developed and vulnerable countries;

Amendment 3 #

Draft opinion
Recital A a (new)

A a. whereas in 2020 the EIB´s financing for countries outside the Union was EUR 10.2 billion and lending to African countries alone was EUR 4.7 billion;

Amendment 30 #

Udo BULLMANN

Draft opinion
Paragraph 3 a (new)

3 a. Expects the EIB to further develop its analytical and operational tools in order to support the UN 2030 sustainability agenda. Stresses the need to ex-ante as well as ex-post analyse the impact of our external co-operation in this respect.

Amendment 31 #

Draft opinion
Paragraph 3 b (new)

3 b. Points out that the agriculture, food, forestry and fisheries sectors are key players for growth and development in rural areas; calls the EIB to boost its investment and to support innovation in these relevant sectors, which can significantly contribute to food security, heathy diets as well as sustainability and resilience of global food systems; recalls the need for cooperation in the framework of the UN Food System Summit to achieve more progress on all 17 SDGs;

Amendment 32 #

Draft opinion
Paragraph 3 b (new)

3b. Laments the fact that in the past the bulk of assistance has been allocated to middle-income countries and stresses that priority should be given to least developed countries and particularly, tying in with the political priorities of certain Member States such as France, the Sahel countries, which moreover have considerable needs in terms of energy infrastructure and the energy transition;

Amendment 33 #

Udo BULLMANN

Draft opinion
Paragraph 3 b (new)

3 b. Underlines the priority to support our partner countries in their post pandemic recovery by strengthening education and health systems and public infrastructure focussing on the fight against growing inequalities and enabling especially the lower 40% of the population to participate and contribute to a decent and future oriented process of re-building their communities.

Amendment 34 #

Draft opinion
Paragraph 3 b (new)

3 b. Calls on the Commission to regularly disclose the rationale behind its opinions on the projects financed by the EIB, given that making such information public would clarify the decision-making process for EIB operations covered by the EU guarantee and the contribution of such operations to the Union’s development policy objectives;

Amendment 35 #

Draft opinion
Paragraph 3 c (new)

3 c. Calls the EIB to continue supporting specific investments to guarantee an equal access to education, employment and financial services of women and girls, which are more vulnerable to the effects of poverty, food and economic crises;

Amendment 36 #

Draft opinion
Paragraph 4

4. Recalls the need for robust and publicly available ex ante impact assessments to mitigate the risks of EIB operations on human rights and on environmental, labour and social standards, and the need for regular and meaningful consultations with stakeholders, including civil society organisations; stresses that the EIB needs to deal with complaints in a transparent and effective manner ensuring that local communities have access to independent entities such as a reinforced EIB complaint mechanism with effective redress and the European Ombudsman; calls on the revision of the EIB's environmental and social standards in 2021 to address these major issues;

Amendment 37 #

Draft opinion
Paragraph 4

4. Recalls the need for robust ex ante impact assessments to mitigate the risks of EIB operations on human rights and on environmental, labour and social standards, and the need for meaningful consultations with stakeholders, including civil society organisations; believes that ex ante impact assessments on human rights should be carried out for every project funded by the EIB, especially when implemented by financial intermediaries, and that continuous monitoring of operations on the ground should be ensured; stresses that the EIB needs to deal with complaints in a transparent and effective manner;

Amendment 38 #

4. Recalls the need for robust ex ante impact assessments to mitigate the risks of EIB operations on human rights and on environmental, labour and social standards, and the need for meaningful consultations with stakeholders, including civil society organisations; stresses that the EIB needs to deal with complaints in a transparent and effective manner; insists on the EIB making astringent use of its Non- Cooperative Jurisdiction Policy so that its operations do not contribute to tax evasion or avoidance;

Amendment 39 #

Draft opinion
Paragraph 4

4. Recalls the need for robust ex ante impact assessments to mitigate the risks of EIB operations on human rights and on environmental, labour and social standards, and rules on transparency and fraud, and the need for meaningful consultations with stakeholders, including civil society organisations; stresses that the EIB needs to deal with complaints in a transparent and effective manner and that it must work in cooperation with local authorities in partner countries to combat fraud;

Amendment 4 #

Draft opinion
Recital A a (new)

A a. whereas recent studies cast doubts on the effectiveness of blending finance in pursuing development objectives

Amendment 40 #

Draft opinion
Paragraph 4 a (new)

4a. Emphasises that the EIB must continuously strengthen and adapt its means of combating fraud, not least through increased vigilance in respect of any transactions involving non- cooperative jurisdictions or states appearing on the FATF list of jurisdictions under increased monitoring, in particular as regards money laundering;

Amendment 41 #

Draft opinion
Paragraph 4 b (new)

4b. Emphasises that the EIB must, where appropriate, apply suspensory clauses when it comes to respect for transparency, and especially labour law, paying particular attention to compliance with these conditions;

Amendment 42 #

Draft opinion
Paragraph 5

5. Calls on the EIB to engage in closer and transparent dialogue with the European Parliament, notably in the context of the EFSD+ and the ongoing discussions on the future European financial architecture for development., the future Development and climate Bank and as to the role of the EIB in this new framework;

Amendment 43 #

Draft opinion
Paragraph 5

5. Calls on the EIB to engage in closer dialogue with the European Parliament, notably in the context of the EFSD+ and the ongoing discussions on the future European financial architecture for development, and to give regular reports on its activities.

Amendment 5 #

Draft opinion
Paragraph 1

1. Recognises the important role ~~that~~of the EIB, the world’s largest multilateral lender~~, can play~~; notes that despite dedicating only around 10% of its overall annual disbursements for activities outside the European Union, it can still improve its role in contributing to the Union’s development policy objectives, and in particular its potential to promote climate action, social and human rights, and to support the recovery from shocks such as COVID-19;

Amendment 6 #

Beata KEMPA, Ryszard CZARNECKI

Draft opinion
Paragraph 1

1. Recognises the important role that the EIB, the world’s largest multilateral lender, can play in contributing to the Union’s development policy objectives, and in particular its ~~potential to promote climate action and~~contribution to tackle poverty and food crisis, to promote climate action, development and the achievement of the SDGs as wells as to support the recovery from shocks such as COVID-19;

Amendment 7 #

Draft opinion
Paragraph 1

1. Recognises the important role that the EIB, the world’s largest multilateral lender, can play in contributing to the Union’s development policy objectives, and in particular its potential to promote ~~climate action~~environmental sustainability and to support the recovery from shocks such as COVID-19;

Amendment 8 #

Draft opinion
Paragraph 1 a (new)

1 a. Stresses that as the main focus of the EIB is not development policies, strengthening its role in this field would require considerable reshuffling of business and managerial practices, and a shifted approach to risk-taking, where development outcomes take precedence over profitability; stresses that the HLGWP reports that creating a dedicated subsidiary of the EIB for development purpose would be the quickest and technically simplest option to pursue, but also the one with the highest risk of ineffectiveness and uncertainty as to the development impact;

Amendment 9 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Draft opinion
Paragraph 1 a (new)

1a. Welcomes the EIB’s plans for green and sustainable urban planning in sub-Saharan Africa and its cooperation with UN-Habitat, given the scale of the challenge posed by the rapid urbanisation of Africa, and particularly the demand for housing, as well as the emerging health emergencies there exacerbated by the COVID-19 pandemic;1 a _________________ 1a https://www.eib.org/attachments/general/r eports/eib_activity_report_en.pdf

source: 680.767

2021/03/10 ECON 247 amendments...

Amendment 1 #

Motion for a resolution
Citation 3

~~— having regard to the Commission communication of 11 December 2019 on the European Green Deal (COM(2019)0640),~~deleted

Amendment 10 #

Luis GARICANO, Olivier CHASTEL, Ivars IJABS, Paul TANG, Sven GIEGOLD

Motion for a resolution
Citation 20 a (new)

— having regard to the European Parliament Resolution of 13 January 2020 on institutions and bodies of the Economic and Monetary Union: preventing post-public employment conflicts of interest;

Amendment 100 #

Motion for a resolution
Paragraph 14

14. Notes, however, that the roadmap envisages the introduction of a transition period until the end of 2022, which would mean that the EIB, including EIF operations, will not be aligned with the objectives of the Paris Agreement until 2023 at the earliest; calls on the EIB to strive for full compliance with the Paris Agreement in the ongoing appraisal procedures;

Amendment 101 #

Motion for a resolution
Paragraph 14

14. Notes, however, that the roadmap envisages the introduction of a transition period until the end of 2022, which would mean that the EIB will not be aligned with the objectives of the Paris Agreement until 2023 at the earliest; calls on the EIB to shorten the transition period allowing non-Paris aligned projects to be approved only until the end of 2021;

Amendment 102 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 14

14. Notes~~, however,~~ that the roadmap envisages the introduction of a transition period until the end of 2022, which would mean that the EIB will not be aligned with the objectives of the Paris Agreement until 2023 at the earliest;

Amendment 103 #

Motion for a resolution
Paragraph 14

Amendment 104 #

Motion for a resolution
Paragraph 14 – point 1 (new)

(1) Welcomes the new Climate Risk Assessment (CRA) system established to assess the physical climate risk in direct lending; and suggests that the EIB propose in its action plans harmonised screening methods, using where appropriate the Taxonomy regulation, for national, regional and local project developers to ensure that economic activities, ecosystems and infrastructure are resilient to current and projected future climatic conditions;

Amendment 105 #

Motion for a resolution
Paragraph 14 – point 2 (new)

(2) Welcomes the new EIB Energy lending policy and its commitment to end investments in fossil fuels by the end of 2021; therefore calls on the EIB to assess the compatibility of investments made in 2021 towards high-carbon projects with the updated 2030 climate targets;

Amendment 106 #

Motion for a resolution
Paragraph 14 a (new)

14 a. Insists that the EIB implements the principle of energy efficiency and sets the objective of tackling energy poverty in all its energy lending, taking into account the impact of energy efficiency on future demand and its contribution to energy security; welcomes the Smart Finance for Smart Buildings initiative that facilitates investments in energy efficiency projects; calls for the reinforcement of housing investments promoting energy efficiency and tackling energy poverty, and for further investments in social and affordable housing;

Amendment 107 #

Motion for a resolution
Paragraph 14 a (new)

14 a. Expresses concern that the EIB has signed six gas projects in 2019 and 2020 with a total financing of 890 million euro, including projects which are not on the list of Projects of Common Interest; points to the risk of a lock-in of assets incompatible with the EU’s objective of climate-neutrality by 2050 at the latest; calls on the EIB to refrain from approving any further gas projects in the transition period of the energy lending policy;

Amendment 108 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 14 a (new)

14 a. Notes that the EIB will structure future work on the implementation of the Roadmap around ten new Action Plans, which will build on the first five years of implementation of the EIB’s 2015 Climate Strategy; Demands, in this context, to be regularly and fully informed on the implementation of the Roadmap;

Amendment 109 #

Motion for a resolution
Paragraph 14 a (new)

14 a. Call on the EIB to implement the principle of energy efficiency and set the objective of tackling energy poverty in all its energy lending;

Amendment 11 #

Luis GARICANO, Olivier CHASTEL, Ivars IJABS, Paul TANG, Sven GIEGOLD

Motion for a resolution
Citation 20 b (new)

— having regard to the 22 July 2016 letter from the Ombudsman to the President of the EIB on conflict of interest issues and the President of the EIB´s reply of 31 January 2017;

Amendment 110 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 14 b (new)

14 b. Calls on the EIB to use the opportunity of the review of its Energy Lending Policy in 2022 to close existing loopholes for financing economic activities which are not aligned with the 2050 climate neutrality target and to align the policy with the EU Taxonomy for sustainable activities, without prejudice to the possibility of applying more stringent criteria to ensure high standards of environmental and social sustainability in all its lending operations;

Amendment 111 #

Motion for a resolution
Paragraph 14 b (new)

14 b. Calls on the EIB to continue to advance mechanisms to better incorporate the inputs from various stakeholders, such as local and regional authorities, trade unions, NGOs and relevant experts, in its investment strategy as the EU’s Climate Bank;

Amendment 112 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 14 c (new)

14 c. Welcomes the EIB’s commitment to support the European Commission’s Sustainable Finance Action Plan, in particular by aligning with the EU Taxonomy for tracking climate action and environmental sustainability finance, and by adopting the “Do No Significant Harm” criteria as a base to evaluate projects;

Amendment 113 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 15

15. Recalls that the review of the EIB’s transport lending policy is a key priority; stresses the importance of aligning the EIB’s transport portfolio with the Paris Agreement as soon as possible; calls for the swift adoption of a new transport financing policy strategy aiming to decarbonise the EU transport sector by 2050 and promote accessible, efficient, green and safe means of transport; underlines, in this context, that the EIB should continue its engagement in financing innovation and green technology for aviation;

Amendment 114 #

Motion for a resolution
Paragraph 15

Amendment 115 #

Motion for a resolution
Paragraph 15

15. Recalls that the review of the EIB’s transport lending policy is a key priority; ~~stresses the importance of aligning the EIB’s transport portfolio~~calls on the EIB to fully align its transport portfolio and transport lending policy with the Paris Agreement as soon as possible;

Amendment 116 #

Motion for a resolution
Paragraph 15

15. Recalls that the review of the EIB’s transport lending policy is a key priority; stresses the importance of broadly aligning the EIB’s transport portfolio with the ~~Paris Agreement as soon as possible~~overall policy trajectory of the Union;

Amendment 117 #

Motion for a resolution
Paragraph 15 a (new)

15 a. Recalls that biodiversity protection is fundamental for EU sustainability, with critical effects on European economic, health and food conditions; calls on the EIB to further develop biodiversity- proofing components in its financial instruments in order to avoid adverse effects on biodiversity; calls on the EIB to commit to ending the financing of projects which contribute to the loss and degradation of biodiversity and ecosystems;

Amendment 118 #

Motion for a resolution
Paragraph 15 a (new)

15 a. Requests that a tailor-made transport policy is adopted for EU regions that due to their geographical features do not fit the standard European requirements; points out that these regions most commonly need a public injection of funding in order to have a functioning climate friendly transport structure;

Amendment 119 #

Billy KELLEHER, Ivars IJABS, Linea SØGAARD-LIDELL, Stéphanie YON-COURTIN, Gilles BOYER

Motion for a resolution
Paragraph 15 a (new)

15 a. Calls on the EIB to increase support for modal shifts towards low- carbon transportation, such as cycling and public transport, in particular for underserved communities and localities;

Amendment 12 #

Luis GARICANO, Olivier CHASTEL, Ivars IJABS, Paul TANG, Sven GIEGOLD

— having regard to the Recommendation of the Ombudsman in case 2168/2019/KR on how the European Banking Authority handled the move of its former Executive Director to become CEO of a financial industry lobby;

Amendment 120 #

Motion for a resolution
Paragraph 15 a (new)

15 a. Stresses that all future EIB funded projects should be fully aligned with the EU objective of achieving net zero emissions by 2050 at the latest;

Amendment 121 #

Motion for a resolution
Paragraph 15 b (new)

15 b. Calls on the EIB to exclude in its transport lending policy financing which hinders the decarbonisation of the transport sector, in particular the expansion of airports and infrastructure for Liquefied Natural Gas;

Amendment 122 #

Motion for a resolution
Paragraph 15 c (new)

15 c. Welcomes the EIB’s development of a Biodiversity Risk Assessment (BRA) system and calls on the EIB to devote sufficient resources to ensure thorough application of this assessment for all operations;

Amendment 123 #

Motion for a resolution
Paragraph 15 d (new)

15 d. Expresses its concern about the shortcomings in the environmental impact assessment of EIB-financed hydropower plants; calls on the EIB to ensure that its biodiversity policy is strictly applied both to hydropower operations inside and outside the EU and fully in line with the EU’s biodiversity Strategy for 2030; calls on the EIB to ensure that when assessing environmental impact, cumulative impact with other projects are fully taken into account; calls on the EIB to ensure that financial intermediaries are also not allowed to finance projects in Natura 2000 sites or critical habitats and to ensure that hydropower projects financed by financial intermediaries are required to be referred as high-risk projects to the EIB;

Amendment 124 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 16

16. Highlights the crucial role of the EIB in meeting the goals of the Just Transition Mechanism and asks for more commitment and concrete action in this respect, namely through structural programme loans, InvestEU and as a financing partner for the public sector loan facility; calls on the EIB to only support sustainable projects that fully comply with the do-no harm principle and provide real additionality; underlines in particular the importance to prioritise projects that support less developed regions and which generate a positive impact on reducing gender inequality, with a view of achieving a successful just and inclusive transition that leaves none behind; invites the EIB to use its role as financing partner for the public sector loan facility as an opportunity to strengthen its capacity to finance smaller projects and community-led initiatives and to build partnerships with municipalities and other public entities;

Amendment 125 #

Motion for a resolution
Paragraph 16

16. Highlights the ~~crucial~~ role of the EIB in meeting the goals of the Just Transition Mechanism ~~and asks for more commitment and concrete action in this respect, namely through structural programme loans, InvestEU and as a financing partner for the public sector loan facility~~;

Amendment 126 #

Motion for a resolution
Paragraph 16 a (new)

16 a. Underlines that Member States and regions have different starting points when it comes to the transition to a carbon-neutral economy and that some of them will be much more exposed to economic and social risks; points out that the EIB, as part of the Just Transition Mechanism, should ensure the just transition while leaving no one behind; emphasises that special attention should be paid to the protection of the citizens and workers that will be most affected by the transition, inter alia, by providing access to re-skilling and up-skilling programmes and by promoting investments in new economic sectors that will create new and high-quality jobs;

Amendment 127 #

Motion for a resolution
Paragraph 16 a (new)

16 a. Welcomes the commitment by the EIB in the Climate Bank Roadmap to focus support on sustainable rearing and dairy industries, and in particular to address animal welfare; suggests that the EIB should refrain from investments that facilitate incentives to industrial farming expanding livestock production and which lead directly or indirectly to deforestation and land degradation; calls on the EIB to explicitly exclude the funding of practices such as battery caging and high population densities, tail-docking and routine castration of pigs, and fur farming;

Amendment 128 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Alfred SANT, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 16 a (new)

16 a. Calls on the EIB to support projects aimed at facilitating a just transition in the Member States; underlines that the transition towards a carbon-neutral economy must be inclusive, fair and must leave no one behind; suggests the EIB to proactively work with Member States in view of supporting regions where jobs are highly dependent on high-emitting industries;

Amendment 129 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 16 b (new)

16 b. Welcomes the fact that the EIB is the world’s largest issuer of green bonds which have raised € 34,6 billion of Climate Awareness Bonds and Sustainability Awareness Bonds over 12 years; calls on the EIB to continue and to expand the issuance of green bonds to enhance the liquidity of that market and to remain involved in the development of an EU green bond standard;

Amendment 13 #

Luis GARICANO, Olivier CHASTEL, Ivars IJABS, Paul TANG, Sven GIEGOLD

Motion for a resolution
Citation 20 d (new)

— having regard to Counterbalance´s 2019 report "Is the EIB up to the task in tackling fraud and corruption? Challenges for the EU Bank’s governance framework";

Amendment 130 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 16 b (new)

16 b. Calls on the EIB to develop ambitious action plans to guide the implementation of its Climate Bank Roadmap and its contribution to the Just Transition Mechanism, while ensuring the involvement of all relevant stakeholders, including NGOs, trade unions and local authorities, in the development and implementation of such action plans;

Amendment 131 #

Motion for a resolution
Paragraph 16 a (new)

16 a. Stresses that principle of value for money should represent the cornerstone of all EU funded investments; points out that EU funding should be accompanied by measurable objectives and outputs including a quantifiable and comparable evaluation mechanism that will allow to compare and rank the efficiency of individual EU programmes;

Amendment 132 #

Billy KELLEHER, Ivars IJABS, Linea SØGAARD-LIDELL, Stéphanie YON-COURTIN, Olivier CHASTEL, Gilles BOYER, Ondřej KOVAŘÍK

Motion for a resolution
Paragraph 17

17. Considers that investment in innovation, infrastructure and skills are crucial elements to recover from the economic and social crisis, ensure sustainable growth and create high-quality jobs and long-term competitiveness; highlights the importance of the EIB’s role in the success of the InvestEU Programme in the post-pandemic recovery;

Amendment 133 #

Motion for a resolution
Paragraph 17

17. Considers that investment in innovation, infrastructure and skills are crucial elements to recover from the economic and social crisis, ensure sustainable growth and create high-quality jobs and long-term competitiveness; highlights in this regard the need to upscale lending to female led SMEs to promote a more gender equal recovery;

Amendment 134 #

Motion for a resolution
Paragraph 17

17. Considers that investment in innovation, infrastructure and skills are crucial elements to recover from the economic and social crisis, ensure sustainable and inclusive growth and create high-quality jobs and long-term competitiveness;

Amendment 135 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 17

17. Considers that investment in innovation, infrastructure, education and skills are crucial elements to recover from the economic and social crisis, ensure sustainable growth and create high-quality jobs and long-term competitiveness;

Amendment 136 #

Motion for a resolution
Paragraph 17

17. Considers that efficient investment in innovation, infrastructure and skills are crucial elements to recover from the economic and social crisis, ensure sustainable growth and create high-quality jobs and long-term competitiveness;

Amendment 137 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 17

17. Considers that investment in innovation, infrastructure and skills are crucial elements to recover from the economic and social crisis, ensure sustainable growth and job creat~~e high-quality jobs~~ion and long-term competitiveness;

Amendment 138 #

Motion for a resolution
Paragraph 17 a (new)

17 a. Urges not to repeat mistakes of the past in response to the economic crisis and warns that boosting investment is not an alternative to productivity-enhancing reforms; emphasises that regulatory environment with predictable rules, a level playing field and reduced compliance costs attract private investments;

Amendment 139 #

Billy KELLEHER, Stéphanie YON-COURTIN, Olivier CHASTEL, Gilles BOYER, Ondřej KOVAŘÍK, Ivars IJABS

Motion for a resolution
Paragraph 17 a (new)

17 a. Regrets the Council’s rejection of the Commission’s proposal for a Solvency Support Instrument and stresses the importance of supporting companies that, in the absence of the Covid-19 pandemic, would otherwise be thriving;

Amendment 14 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Recital A

A. whereas under Article 309 of the TFEU and in line with the case law of the Court of Justice of the European Union, the EIB is tasked with contributing to the achievement of the Union’s objectives; whereas under Article 18 of its Statute, the EIB should ensure that its funds are employed as rationally as possible in the interests of the Union;

Amendment 140 #

Motion for a resolution
Paragraph 17 a (new)

17 a. Welcomes the fact that in 2019 the EIB supported innovation and skills with €14.4 billion; calls the EIB to enhance its support for innovation and skills;

Amendment 141 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 17 b (new)

17 b. Recalls that SMEs are the back bone of Europe's economy, representing 99% of all businesses in the EU and employing at around 100 million people Welcomes the fact that in 2019 the EIB provided financing for SMEs and mid- caps with total investment amounting to €25.5 billion, supporting 386 000 companies;

Amendment 142 #

Marco ZANNI, Francesca DONATO, Valentino GRANT, Antonio Maria RINALDI

Motion for a resolution
Paragraph 18

18. RUnderlines the pivotal role of SMEs as the backbone of Europe’s economy, representing almost 99 % of all businesses and providing around three quarters of all jobs, while being key drivers of innovation; points out that SMEs have been severely hit by the COVID-19 crisis and many of them are facing unprecedented challenges, especially liquidity challenges; reiterates that supporting SMEs and mid-caps must remain a fundamental objective for the EIB, notably to provide capital support and to assist them with decarbonisation and access to ICT tools; welcomes efforts made to provide online assistance and counselling to SMEs in accessing EIB lending and calls on the EIB to further enhance its support to SMEs;

Amendment 143 #

Motion for a resolution
Paragraph 18

18. Reiterates that supporting SMEs and mid-caps must remain a fundamental objective for the EIB, notably to assist them with decarbonisation and access to ICT tools; welcomes efforts made to provide online assistance and counselling to SMEs in accessing EIB lending; reiterates, moreover, that the EIB should further strengthen its support for micro- enterprises, especially in this time of economic crisis, including through cooperation with National Support Banks and local banking networks;

Amendment 144 #

Motion for a resolution
Paragraph 18

18. Reiterates that supporting SMEs and mid-caps must remain a fundamental objective for the EIB, notably to assist them with decarbonisation and access to ICT tools; questions the EIB’s investment appeal towards small businesses and asks whether it is being too restricted by its traditional limitations on funding projects with a significant risk component welcomes efforts made to provide online assistance and counselling to SMEs in accessing EIB lending;

Amendment 145 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 18

18. Reiterates that supporting SMEs and mid-caps must remain a ~~fundamental objective~~key priority for the EIB, notably to assist them with decarbonisation and access to ICT tools; stresses that SMEs often have limited administrative ressources available and thus benefit form easily accessible financing channels; welcomes efforts made to provide online assistance and counselling to SMEs in accessing EIB lending;

Amendment 146 #

Motion for a resolution
Paragraph 18 a (new)

18 a. Notes that the COVID-19 outbreak revealed the fragility of the EU’s supply chains and the insufficiency of IT networks; calls on the EIB to align its investment strategy to help ensure greater resilience of the internal market’s value chains and strengthen the European industrial sector, especially in strategic areas;

Amendment 147 #

Motion for a resolution
Paragraph 18 a (new)

18 a. Stresses that EU SMEs are lagging behind in embracing digital technologies with only 66% of manufacturing companies in the EU adopting at least one digital technology; Calls for a simplified description of key digital technologies that are supported by the EIB;

Amendment 148 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 18 a (new)

18 a. Highlights the need for the EIB to have a strong focus on projects directed to young people, especially for start-ups and projects directed towards tackling the increasingly rising problem of youth unemployment and young people in precarious jobs;

Amendment 149 #

Motion for a resolution
Paragraph 18 b (new)

18 b. Calls on the EIB to mobilise sufficient support for infrastructure on delivering faster internet speed to all regions in the EU and bridge the existing digital divide;

Amendment 15 #

Motion for a resolution
Recital B a (new)

B a. whereas the EIB plays an important role in the EU's strategy to tackle climate- and environmental-related challenges - challenges that are this generation's defining task, as outlined by the Commission, with EUR 350 billion of additional investments needed annually to achieve the updated 2030 climate and energy targets;

Amendment 150 #

Motion for a resolution
Paragraph 19 – point 1 (new)

(1) Calls on the EIB to set green transition contracts for high emitting sectors to ensure that they will align their business model with climate neutrality;

Amendment 151 #

Motion for a resolution
Paragraph 19 a (new)

19a. Calls on the EIB and national partners to take into consideration the current difficulties facing SMEs stemming from the economic crisis caused by COVID-19; considers that it would be worth promoting internalisation schemes, which have been so successful, again.

Amendment 152 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 19 a (new)

19 a. Calls on the EIB to include in its SMEs strategy, the reinforcement of its administrative and advising capacities to provide information and technical support to SMEs, especially regarding developing SMEs and SMEs applying for finance;

Amendment 153 #

Motion for a resolution
Paragraph 19 a (new)

19 a. Calls on the EIB to continue its support towards advancing digital skills, in particular for employees in sectors of the economy in need adjustment and requalification;

Amendment 154 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 19 b (new)

19 b. Calls on the EIB to enhance its support to innovative European companies through all stages of development, from seed to growth capital, financing the creation of a knowledge economy by combining investment in skills, research, infrastructure and energy efficiency with support for young tech companies;

Amendment 155 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 20

20. Calls on the EIB to play a role in assisting and financing the creation of innovation ecosystems and in promoting place-based industrial transformation, where universities, businesses, SMEs and start-ups can develop long-lasting partnerships for the common good; warns against the costs in a form of dead-weight loss, shifting of resources and moral hazard; calls the Commission to properly scrutinize the economic viability of the EIB programs;

Amendment 156 #

Billy KELLEHER, Ivars IJABS, Linea SØGAARD-LIDELL, Stéphanie YON-COURTIN, Olivier CHASTEL, Gilles BOYER

Motion for a resolution
Paragraph 20

20. Calls on the EIB to play a role in assisting and financing the creation of innovation ecosystems and knowledge economies, and in promoting place-based industrial transformation, where universities, businesses, SMEs and start- ups can develop long-lasting partnerships for the common good and that can make a meaningful contribution to achieving the objectives of the Green Deal and the digitalisation of the economy;

Amendment 157 #

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER

Motion for a resolution
Paragraph 20

20. Calls on the EIB to play a role in assisting and financing, in all Member States, the creation of innovation ecosystems and in promoting place-based industrial transformation, where universities, businesses, SMEs and start- ups can develop long-lasting partnerships for the common good;

Amendment 158 #

Motion for a resolution
Paragraph 20 a (new)

20 a. Underlines that the EIB will continue to be the main investment partner for the implementation of the InvestEU programme;

Amendment 159 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Alfred SANT, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 20 b (new)

20 b. Welcomes the EIB’s commitment to invest in the social sector, thereby fostering well-being, access to education, health and housing, as well as the acquisition of skills required by a modern knowledge-based economy;

Amendment 16 #

Motion for a resolution
Recital B a (new)

B a. whereas the EIB Group is bound by the Treaties to contribute to EU integration, economic and social cohesion and regional development, through various investment instruments such as loans, equities, guarantees, risk-sharing facilities and advisory services;

Amendment 160 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 21

21. Notes that during the ongoing COVID-19 crisis, social welfare systems in the Member States have come under unprecedented strain; calls on the EIB to partner with the Commission and Member States to strengthen social welfare systems and increase investment in the social sector, including by establishing similar targets for social investment to those for digital and green investments;deleted

Amendment 161 #

Motion for a resolution
Paragraph 21

Amendment 162 #

Billy KELLEHER, Ivars IJABS, Stéphanie YON-COURTIN, Olivier CHASTEL, Gilles BOYER

Motion for a resolution
Paragraph 21

21. Notes that during the ongoing COVID-19 crisis, social welfare systems in the Member States have come under unprecedented strain; calls on the EIB to partner with the Commission and Member States to strengthen social welfare systems and ~~increase~~ investment in the social sector~~, including by establishing similar targets for social investment to those for digital and green investment~~; underlines, however, that digital and green investments are areas of EU added value and should remain as the primary objectives;

Amendment 163 #

Motion for a resolution
Paragraph 21 a (new)

21 a. Acknowledging that the COVID- 19 crisis had a disproportionate impact on certain parts of society, urges the EIB to prioritise projects that seek to address inequalities, including gender inequalities and amongst marginalised communities;

Amendment 164 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 22

22. Calls on the EIB to play an active role in helping Member States to deliver on the implementation of the European Pillar of Social Rights, while standing ready to align with the forthcoming Commission action plan and the Social Summit in Porto; points to the importance of ex-ante and ex-post evaluations of the sustainability, economic, social and environmental impact of projects;deleted

Amendment 165 #

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 22

22. Calls on the EIB to play an active role in helping Member States to deliver on the implementation of the European Pillar of Social Rights, while standing ready to align with the forthcoming Commission action plan and the Social Summit in Porto; ~~points to~~reiterates the importance of ex-ante and ex- post evaluations of the sustainability, economic, social and environmental impact of projects backed directly or indirectly by the EIB;

Amendment 166 #

Motion for a resolution
Paragraph 22

22. Calls on the EIB to play an active role in ~~helping Member States to deliver on the implementation of the European Pillar of Social Rights, while standing ready to align with the forthcoming Commission action plan and~~ the Social Summit in Porto; points to the importance of ex-ante and ex-post evaluations of the sustainability, economic, social and environmental impact of projects accompanied by measurable result indicators;

Amendment 167 #

Motion for a resolution
Paragraph 22

22. Calls on the EIB to play an active role in helping Member States to deliver on the implementation of the European Pillar of Social Rights and the UN Sustainable Development Goals, while standing ready to align with the forthcoming Commission action plan and the Social Summit in Porto; points to the importance of ex-ante and ex- post evaluations of the sustainability, economic, social and environmental impact of projects;

Amendment 168 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 22

22. Calls on the EIB to play an active role in helping Member States to ~~deliver on the implementation of the European Pillar of Social Rights, while standing ready to align with the forthcoming Commission action plan and the Social Summit in Porto~~create social balance through job creation and growth; highlights the importance of fully respecting the principles of subsidiary, proportionality and Member State competence in the area of social policies; points to the importance of ex-ante and ex- post evaluations of the sustainability, economic, social and environmental impact of projects;

Amendment 169 #

Motion for a resolution
Paragraph 22 a (new)

22 a. Highlights that public investments are limited as they represent scarce resources mostly funded by the taxpayers; calls on the EIB to prioritise the investments according to their efficiency in order to support economic growth;

Amendment 17 #

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Recital B a (new)

B a. whereas the EIB has taken on a significant role in mobilising financing to the economy following the economic fallout caused by the COVID-19 pandemic in 2020;

Amendment 170 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Alfred SANT, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 22 a (new)

22 a. Calls on the EIB to refrain from participating in projects which may weaken citizens’ access to high quality public services;

Amendment 171 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Joachim SCHUSTER, Margarida MARQUES, Csaba MOLNÁR

Motion for a resolution
Paragraph 22 b (new)

22 b. Notes that the COVID-19 pandemic has had a huge negative impact on children’s education and well-being across the globe, with millions of children still without access to education due to lockdown measures and therefore at risk of regression and suffering potential lifelong effects; welcomes the EIB’s investment in education, as investing in education helps to eradicate poverty, boost economic growth and improve gender equality; calls on the EIB to increase its investment in education to help mitigate the severe impact of the COVID-19crisis on education systems globally;

Amendment 172 #

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Subheading 6

~~Becoming the EU D~~Supporting development Bankd sustainability outside the EU

Amendment 173 #

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 23

23. Welcomes the fact that the EIB is the largest multilateral lender in the world that strives to support EU external cooperation and development policies; notes that the EIB has been active outside the EU for over 50 years with €64.8bn loans granted in 106 different countries as of end-2019, of which EUR 7.9bn were signed in 2019;

Amendment 174 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 23

23. ~~Welcom~~Notes the fact that the EIB is the largest multilateral lender in the world that strives to support EU external cooperation and development policies;

Amendment 175 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 23 a (new)

23 a. Insists that the EIB should apply the same standards and criteria to assess and evaluate projects inside and outside the European Union, including those recently agreed in the CBR ; Considers, in this context, that the EIB should enhance its monitoring and reporting of projects outside the EU and improving its analysis of the economic, social and environmental impacts;

Amendment 176 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 23 b (new)

23 b. Welcomes the provisional agreement reached between the European Council and the European Parliament on the regulation setting up the Neighbourhood, Development and International Cooperation Instrument; notes in particular the role the EIB will play in the context of the European Fund for Sustainable Investment;

Amendment 177 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 24

24. ~~Calls for~~Highlights that climate change is the most significant challenge to achieving sustainable development, as it threatens to worsen living conditions and poverty; therefore calls on the EIB to prioritise investment in infrastructure that helps third countries to realise the UN Sustainable Development Goals and ~~that~~strengthen their resilience to climate change, while deliversing on social and environmental justice, public services and fair economic opportunities for citizens;

Amendment 178 #

Motion for a resolution
Paragraph 24

24. Calls for the EIB to ~~prioritise~~realise only an efficient investment in infrastructure that helps third countries to ~~realise the UN Sustainable Development Goals and that delivers on social and environmental justice,~~deliver public services and fair economic opportunities for citizens;

Amendment 179 #

Motion for a resolution
Paragraph 24 – point 1 (new)

(1) Appreciates that the EIB will further reinforce its support to green investment outside the EU, based on an effective implementation of EU climate and energy diplomacy, which will help underlining the EU’s role as a global leader on climate and environmental sustainability;

Amendment 18 #

Johan VAN OVERTVELDT

Motion for a resolution
Recital B a (new)

B a. Whereas the European Investment Bank operates independently.

Amendment 180 #

Billy KELLEHER, Ivars IJABS, Linea SØGAARD-LIDELL, Stéphanie YON-COURTIN, Olivier CHASTEL, Gilles BOYER

Motion for a resolution
Paragraph 24 a (new)

24 a. Calls on the EIB to ensure additionality and the development impact of its operations outside the Union by increasing its engagement in LDCs, enhancing the transparency of operations carried out by financial intermediaries notably thanks to the disclosure of the name of the final beneficiary, the amount received, the type of project and related environmental information, cooperating with EU delegations, and increasing its presence on the ground with additional staff focusing on development issues;

Amendment 181 #

Motion for a resolution
Paragraph 24 a (new)

24 a. Calls for the EIB to strengthen human rights due diligence for projects in third countries, for example by carrying out ex-ante human rights risk assessments and engaging with the local communities; moreover, the EIB should strive to continuously monitor the human rights situation on the ground;

Amendment 182 #

Marco ZANNI, Francesca DONATO, Valentino GRANT, Antonio Maria RINALDI, Gunnar BECK

Motion for a resolution
Paragraph 24 a (new)

24 a. Regrets the fact that at the end- 2019 the total disbursed exposure in Turkey, a country that does not respect several of the basic principles of freedom and democracy, amounted to EUR 12.3bn and a further EUR 0.8bn has been committed in signed operations not yet disbursed;

Amendment 183 #

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 24 a (new)

24 a. Stresses the need for full alignment of EIB investments in third countries with EU external action and sustainable development priorities;

Amendment 184 #

Motion for a resolution
Paragraph 24 a (new)

24 a. Calls on the EIB to prioritise positive development impact, namely domestic resource mobilisation and inequalities reduction;

Amendment 185 #

Motion for a resolution
Paragraph 24 b (new)

24 b. As all EIB shareholders are part of the G20 commitment to suspend the debt of 77 countries following the debt crisis linked to the COVID-19 outbreak, calls on the EIB to apply a suspension to its pending loans, to carefully assess the debt impact of its future operations, and to express public support to the creation of a multilateral debt workout mechanism to address both the impact of the current crisis and the financing requirements of the Agenda 2030;

Amendment 186 #

Motion for a resolution
Paragraph 24 b (new)

24 b. Calls on the EIB to put in place tailored indicators to measure the reduction of inequalities, tax revenues generation for host countries, and the impact on gender and marginalised groups;

Amendment 187 #

Motion for a resolution
Paragraph 24 c (new)

24 c. Calls on the EIB to pay attention to third countries and regions outside the EU suffering from conflict and extreme poverty, with the aim of reducing the development gap between the EU and those regions; calls for a special focus on the Southern Mediterranean and Eastern European Neighbourhood countries; calls on the EIB to respect the legislation of the beneficiary countries and to increase the efficiency of the Results Measurement Framework (REM);

Amendment 188 #

Motion for a resolution
Paragraph 24 d (new)

24 d. Urges the EIB to refrain from working with clients and financial intermediaries that do not have a development orientation, such as private equity funds;

Amendment 189 #

Motion for a resolution
Paragraph 25

25. Recalls its request for an interinstitutional agreement between the EIB and Parliament in order to improve access to EIB documents and data and enhance democratic accountability, including the ability to submit questions for written answer to the EIB as already provided for in the case of the ECB;

Amendment 19 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Recital B b (new)

B b. whereas the EIB, being the world’s largest multilateral borrower and lender, and jointly owned by EU Member States, is the EU’s natural partner for the implementation of financial instruments, in close cooperation with national and multilateral financial institutions;

Amendment 190 #

Motion for a resolution
Paragraph 25

25. ~~Recall~~Notes its request for an interinstitutional agreement between the EIB and Parliament in order to improve access to EIB documents and data and enhance democratic accountability;

Amendment 191 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 26

Amendment 192 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Alfred SANT, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 26

26. Proposes the establishment of a protocol for a Memorandum of Cooperation between the EIB and Parliament, applicable with immediate effect, in order to improve interinstitutional dialogue and enhance the EIB’s transparency and accountability, specifying the rights of Parliament and its Members as regards access to documents, data, questions put to the EIB, regular hearings and economic dialogues;

Amendment 193 #

Motion for a resolution
Paragraph 26 a (new)

26 a. Calls on the EIB to increase its reporting to the Parliament and stakeholders regarding its decisions, progress achieved and the impact of its lending activities, through regular structured dialogues increasing parliamentary oversight, and to apply the same reporting and accountability provisions as set out in the EFSI regulation;

Amendment 194 #

Motion for a resolution
Paragraph 26 a (new)

26 a. Reiterates its call to allow the European Court of Auditors full rights to audit EIB’s operations and access all relevant documents to perform its audit, including information on rejected loan applications and the underlying rationale for approval or rejection;

Amendment 195 #

Motion for a resolution
Paragraph 26 a (new)

26 a. Calls on the EIB to step up its efforts in terms of communication; believes it is vital that it should engage with EU citizens in order to better explain the aims of its policies and illustrate its contribution to the daily lives of its citizens;

Amendment 196 #

Marco ZANNI, Francesca DONATO, Valentino GRANT, Antonio Maria RINALDI, Gunnar BECK

Motion for a resolution
Paragraph 26 a (new)

26 a. Requests full transparency from the EIB especially as regards the disbursement of EU funding, including periodical reports to this house in line with the monthly reports on the state of play provided for the EFSI programme prior to June 2018;

Amendment 197 #

Motion for a resolution
Paragraph 26 a (new)

26 a. Notes with concern that general administrative expenses are ever increasing and asks the EIB to maintain cost discipline as well as to keep its management structure lean and efficient;

Amendment 198 #

Motion for a resolution
Paragraph 26 b (new)

26 b. Calls on the EIB to further enhance transparency and access to information for the Parliament and other institutions, as well as for the public, especially regarding the contracting and subcontracting system, the results of internal investigations and the selection, monitoring and evaluation of activities and programmes;

Amendment 199 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA

Motion for a resolution
Paragraph 26 c (new)

26 c. Urges the EIB to enforce the independence and efficiency of the Complaint Mechanism Office and the Fraud Investigation Division and to further enhance the cooperation with the European Ombudsman;

Amendment 2 #

Motion for a resolution
Citation 4

~~— having regard to the Commission communication of 14 January 2020 entitled ‘Sustainable Europe Investment Plan – European Green Deal Investment Plan’ (COM(2020)0021),~~deleted

Amendment 20 #

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Recital B b (new)

B b. whereas the EIB committed in 2019 to support the objectives of the European Green Deal, align all its financing activities with the goals of the Paris Agreement and become the ‘EU Climate Bank’;

Amendment 200 #

Motion for a resolution
Paragraph 27

27. Welcomes the EIB’s launch of a public consultation on the review of its transparency policy in December 2020; ~~recalls its request for the EIB to step up its transparency policy in line with the best practices and standards employed by other financial institution~~notes however that the current proposal falls short to meet the demands made by the European Parliament and civil society organisations to step up its transparency policy in line with the best practices and standards employed by other financial institutions and to ensure the timely publication of more ample information on all its financing activities; calls on the EIB to increase proactive transparency by making non-confidential documents publicly available in a user friendly database in a timely manner; reiterates its call to operate on the basis of the ‘presumption of disclosure’ rather than the ‘presumption of confidentiality’; calls for the timely publication of the full agendas and minutes of meetings of the Management Committee and Board of Directors’; underlines that the future Transparency Policy should reinforce the transparency requirements for all its operations and require project promoters to make Environmental Impact Assessment (EIA) and related documents publicly available, by including stringent transparency obligations in the specific contractual clauses signed with all EIB clients; asks the EIB to publish more regular, in-depth and comprehensive information on the financial intermediaries responsible for leveraging EIB funds and to include contractual clauses concerning mandatory disclosures from these institutions on lending activity;

Amendment 201 #

Motion for a resolution
Paragraph 27

27. Welcomes the EIB’s launch of a public consultation on the review of its transparency policy in December 2020; recalls its request for the EIB to step up its transparency policy in line with the best practices and standards employed by other financial institutions; asks the EIB to publish more regular, in-depth and comprehensive information on the financial intermediaries responsible for leveraging EIB funds and to include contractual clauses concerning mandatory disclosures from these institutions on lending activity; calls on the EIB to put an emphasis on the consultations with all interested stakeholders, in particular local communities, civil society and population affected by its projects;

Amendment 202 #

Billy KELLEHER, Ivars IJABS, Linea SØGAARD-LIDELL, Stéphanie YON-COURTIN, Olivier CHASTEL, Gilles BOYER, Ondřej KOVAŘÍK

Motion for a resolution
Paragraph 27

27. Welcomes the EIB’s launch of a public consultation on the review of its transparency policy in December 2020; recalls its request for the EIB to step up its transparency policy in line with the best practices and standards employed by other financial institutions; asks the EIB to publish more regular, in-depth and comprehensive information on the financial intermediaries responsible for leveraging EIB funds and to include contractual clauses concerning mandatory disclosures from these institutions on lending activity; calls on the EIB to take into consideration the financial specifics of each Member States and provide the necessary flexibility in this regard;

Amendment 203 #

Motion for a resolution
Paragraph 27 a (new)

27 a. Welcomes the EIB’s internal review and revision of its Anti-Fraud Policy and its intentions to elevate the policy to the group level, thereby applying to both the EIB and the EIF; urges the EIB to take an ambitious and broad approach to this review; stresses the importance of the EIB’s anti-fraud investigative office to have robust competences, sufficient resources and independence; calls on the EIB to enhance its cooperation with OLAF and the EPPO;

Amendment 204 #

Motion for a resolution
Paragraph 27 a (new)

27 a. Reiterates its call for the disclosure of the opinions issued by the Commission within the framework of the procedure in accordance with Article 19 of the EIB Statute on the EIB financing operations for the purpose to assess their compliance with the relevant EU legislation and EU policies; calls on the Commission and EIB to reach an agreement to ensure full transparency on such opinions and their underlying rationale;

Amendment 205 #

Motion for a resolution
Paragraph 27 a (new)

27 a. Calls on the EIB to adopt a more ambitions transparency policy, especially regarding its governing bodies, including the disclosure of minutes and agendas of the meetings of the EIB Management Committee and the timely publication of information;

Amendment 206 #

Motion for a resolution
Paragraph 27 a (new)

27 a. Calls on the Commission to pay special attention to ensuring that EU fiscal rules support future efforts to increase the level of public investment in the EU and the impact of EIB initiatives in the EU economy;

Amendment 207 #

Motion for a resolution
Paragraph 27 b (new)

27 b. Takes note of the ongoing revision of the EIB Anti-Fraud Policy; urges the EIB to address the existing weaknesses in its due diligence and internal control mechanisms and to strengthen its policy against fraud and corruption, in line with reiterated EP demands; calls for the suspension of funding where local authorities have notified possible violations of the relevant legislation, at least until investigations and judicial processes at national level are concluded; expects the inclusion of human rights due diligence obligation for all projects in order to prevent any abuse, unfair expropriation or violence against local populations, and demands from the Bank to take immediate and firm action once it is informed of the involvement of a client or beneficial owner in a human rights and environment defenders reprisal, and withdraw funding when such involvement is proven; recalls that the Commission asked the EIB to share more information on the effective application of contractual clauses enabling the EIB to halt or withdraw funding1a and expects that the Parliament will have full access to this information; expects the EIB to conduct thorough monitoring that fully takes into account concerns expressed by concerned parties and stakeholders, in particular those pertaining to human rights violations; demands that the Bank take immediate and firm action once it is informed of the involvement of a client or beneficial owner in a human rights or environmental defenders reprisal; _________________ 1a Executive summary of the evaluation of Decision No 466/2014/EU of the European Parliament and of the Council of 16 April 2014 granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union {SWD(2019) 333 final} 13 September 2019

Amendment 208 #

Billy KELLEHER, Ivars IJABS, Linea SØGAARD-LIDELL, Stéphanie YON-COURTIN, Olivier CHASTEL, Gilles BOYER

Motion for a resolution
Paragraph 27 b (new)

27 b. Calls on the EIB to commit to strengthen its policy against tax fraud, tax evasion and tax avoidance, including by refraining from funding beneficiaries or financial intermediaries and from cooperating with financial partners with a proven negative track record; calls on the EIB to enforce prevention measures and regular tax assessments against non- cooperative tax jurisdictions, tax and fiscal fraud and tax evasion, as well as illegal and aggressive tax avoidance;

Amendment 209 #

Motion for a resolution
Paragraph 27 b (new)

27 b. Stresses that the EIB should make full use of contractual clauses enabling it to suspend disbursements in cases of projects’ non-compliance with environmental, social, human rights, tax and transparency standards;

Amendment 21 #

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Recital B c (new)

B c. whereas the EIB Board of Directors approved the Climate Bank Roadmap (CBR);

Amendment 210 #

Motion for a resolution
Paragraph 27 c (new)

27 c. Stresses some weaknesses in the EIB Group NCJ Policy, which allow the EIB to again fund projects that are related to tax havens; urges the EIB to develop mechanisms to avoid fuelling tax dodging; calls on the EIB not to finance and to use its mandatory relocation clause for an operation that uses entities either subject to zero taxation or less than 50 % taxation rate compared to the country of implementation of the project, including hybrid entities; urges the EIB not to make any use of entities for which a hybrid mismatch is possible, especially if they can benefit from preferential tax regimes, including intellectual property transfers or license agreements in low-tax jurisdictions, or if the entities are not covered by Controlled Foreign Corporation (CFC) rules and/or withholding taxes;

Amendment 211 #

Motion for a resolution
Paragraph 27 c (new)

27 c. Calls on the EIB to follow up on its calls to cease working with financial intermediaries with a negative track record as regards transparency, fraud, corruption, organised crime or money laundering or respect for human rights and to make disbursement of direct and indirect loans conditional on the disclosure of information on beneficial ownership by the beneficiaries and financial intermediaries involved in financing operations and on the publication of country-by-country tax and accountancy data; calls for the EIB to publish ‘Know Your Customer’ checks before approving any project.

Amendment 212 #

Motion for a resolution
Paragraph 27 d (new)

27 d. Expresses its concern that the eight EIB Vice-Presidents in addition to sectoral responsibilities, oversee project proposals from their home countries, alongside other country responsibilities; regrets the failure of the EIB to act on Parliament’s request to include in the Code of Conduct of the Management Committee a provision excluding the possibility of their Members overseeing lending or the implementation of projects in their home countries; expresses its concern that a former Member of the Management Committee joined, during the cooling-off period, the Management Board of Iberdrola, one of the largest EIB clients, raising serious concerns about a possible conflict of interests and calls the EIB to provide clarification on this case;

Amendment 213 #

Motion for a resolution
Paragraph 27 d (new)

27 d. Calls on the EIB to review its framework for the EIB anti-corruption fight in order to improve cooperation with European authorities, especially the European Anti-Fraud Office (OLAF) and the European Public Prosecutor’s Office (EPPO), and to mandatorily report potential fraud cases to national authorities;

Amendment 214 #

Motion for a resolution
Paragraph 27 e (new)

27 e. Calls on the EIB to strengthen its Anti-Fraud Policy, including by reinforcing the due diligence on the clients’ track records, introducing provisions allowing for the suspension of disbursements and the termination of contracts in cases of violations of the Anti-Fraud Policy and by opening national or other official investigations, in order to stop financing projects that are under fraud and corruption investigations;

Amendment 215 #

Motion for a resolution
Paragraph 27 e (new)

27 e. Calls on the EIB to ensure that the environmental and social assessments related to the due-diligence process are disclosed in a timeframe in line with international best practices and are made readily accessible to potential beneficiaries, affected groups and local civil society organisations;

Amendment 216 #

Motion for a resolution
Paragraph 27 f (new)

27 f. Takes note of the judgment by the General Court in Case T-9/19 which annuls the EIB decision that declared inadmissible the request for review of the resolution of the EIB’s Board of Directors; calls on the EIB to take this judgement into account in the review of its transparency policy;

Amendment 217 #

Motion for a resolution
Paragraph 27 f (new)

27 f. Calls on the EIB to prevent companies receiving support, especially under the EGF, from paying dividends to their shareholders,giving out bonuses to their CEOs and carrying out share buybacks;

Amendment 218 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA

Motion for a resolution
Paragraph 27 g (new)

27 g. Expects the EIB to comply with Article 191 of the Treaty on the Functioning of the European Union by applying the precautionary principle, and to put on hold disbursement, and, if necessary, to withdraw funding, if there is evidence or a serious risk of adverse impacts on climate, and/or environment, and/or local communities; expects the EIB to conduct Human Rights Impact Assessments at project level, as well as to continuously monitor the implementation of projects on the ground; calls in this regard the Bank to engage actively with local communities, and to inform them accordingly of their rights, with a special focus to implement a free, prior and informed consent, including their access to a Complaints Mechanism;

Amendment 219 #

Motion for a resolution
Paragraph 28

28. Welcomes the EIB’s Group Strategy on Gender Equality and Gender Action Plan; regrets the fact that women are still not sufficiently represented in managerial and senior office positions; believes that more needs to be done in this regard during the implementation of the second phase of the Action Plan in 2021;deleted

Amendment 22 #

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Recital B d (new)

B d. whereas the EIB has started the review process of its 2011 Transport Lending Policy, with the goal of supporting accessible, efficient, green and safe transport;

Amendment 220 #

Motion for a resolution
Paragraph 28

28. Welcomes the progress achieved with the implementation of the EIB’s Group Strategy on Gender Equality and Gender Action Plan and calls on the EIB to further develop its strategy and internal capacity to mainstream gender equality in its lending policy in view of the upcoming Gender Action Plan II 2021-2024; urges the EIB to collect gender-disaggregated data and develop tools and methodologies to conduct gender analysis and gender impact assessment for EIB projects and operations both inside and outside the European Union, and to consult with independent experts to this end; regrets the fact that women are still not sufficiently represented in managerial and senior office positions; believes that more needs to be done in this regard during the implementation of the second phase of the Action Plan in 2021;

Amendment 221 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Alfred SANT, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 28

28. Welcomes the EIB’s Group Strategy on Gender Equality and Gender Action Plan; takes note of the 2019 Progress Report on Diversity and Inclusion; notes that women represent 51.4% of the EIB workforce; regrets the fact that women are still not sufficiently represented in managerial and senior office positions; believes that more needs to be done in this regard during the implementation of the second phase of the Action Plan in 2021; calls, therefore, on the EIB to further encourage the participation of women and actively promote a balance gender representation in its senior positions;

Amendment 222 #

Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 28

28. Welcomes the EIB’s Group Strategy onfor more Gender Equality and Gender Action Plan; regrets the fact that women are still not sufficiently represented in managerial and senior office positions; believes that more needs to be done in this regard during the implementation of the second phase of the Action Plan in 2021; stresses, however, that the strategy seeking greater gender equality must not be pursued at the expense of the substantive quality of management;

Amendment 223 #

Motion for a resolution
Paragraph 28

Amendment 224 #

Motion for a resolution
Paragraph 29

29. Welcomes the fact that the EIB will review its environmental and social standards and calls for a wide and inclusive public consultation on these issues; invites the EIB to take account of the do-no harm principle in its operations; calls on the EIB to take this opportunity to strengthen its human rights policy;deleted

Amendment 225 #

Motion for a resolution
Paragraph 29

29. Welcomes the fact that the EIB will review its environmental and social standards ~~and~~; calls on EIB to introduce binding social and environmental criteria as part of the guidelines on counterparty alignment, including the requirement for clients to have clear and binding decarbonisation plans in line with the Paris Agreement; calls for a wide and inclusive public consultation on these issues; invites the EIB to ~~take account of~~incorporate the do-no harm principle in all its operations; calls on the EIB to take this opportunity to strengthen its human rights policy and to increase the human rights dimension in its project planning, including by providing a Human Rights Strategy, as well as HR Assessment and Evaluation of its programmes, also on the ground, to ensure that local communities are meaningfully consulted and that the right to free prior and informed consent (FPIC) is implemented in a systematic manner; calls on the EIB to develop specific policies on human rights defenders and protocols to respond to risks of reprisals;

Amendment 226 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 29

29. Welcomes the fact that the EIB will review its environmental and social standards and calls for a wide and inclusive public consultation on these issues; expects invites the EIB to ~~take account of~~apply the do-no harm principle inthroughout all its operations; calls on the EIB to take this opportunity to strengthen its human rights policy; expects all projects to include more comprehensive gender and human rights dimensions in due diligence obligations;

Amendment 227 #

Motion for a resolution
Paragraph 29

29. Welcomes the fact that the EIB will review its environmental and social standards and calls for a wide and inclusive public consultation on these issues; ~~invites the EIB to take account of the do-no harm principle in its operations; calls on the EIB to take this opportunity to strengthen its human rights policy;~~

Amendment 228 #

Motion for a resolution
Paragraph 29

29. Welcomes the fact that the EIB will review its environmental and social standards and calls for a wide and inclusive public consultation on these issues; ~~invites~~calls on the EIB to ~~take account of the do-no harm principle~~include the do-no significant harm principle as referred in the EU Taxonomy Regulation in its operations; ~~calls on the EIB~~and to take this opportunity to strengthen its human rights policy;

Amendment 229 #

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 29

29. Welcomes the fact that the EIB will review its environmental and social standards and calls for a wide and inclusive public consultation on these issues; invites the EIB to ~~take account of~~align the do-no harm principle in all its operations; calls on the EIB to take this opportunity to strengthen its human rights policy;

Amendment 23 #

Motion for a resolution
Recital B e (new)

B e. whereas support for SMEs and Midcaps is a fundamental public policy goal of the EIB; whereas in 2019 alone, the EIB Group supported over 386 600 SMEs and mid-caps with new financing; whereas support for SMEs accounted for 35% of overall EIB signature volume;

Amendment 230 #

Motion for a resolution
Paragraph 29 a (new)

29 a. Welcomes the alignment of EIB financing activities with the principles and goals of environmental sustainability, including the upcoming development of counterparty alignment guidelines; highlights the potential for the EIB to include further standards on other policy priorities, such as gender equality and labour rights, in the selection and monitoring of investment projects and financial intermediaries; stresses that EU funding cannot contribute to malpractices detrimental to basic social rights;

Amendment 231 #

Paul TANG

29 a. Reiterates that sustainability is a broad concept and that investments are sustainable only if they do not significantly harm any other social or environmental sustainability objective; calls therefore on the EIB to include social considerations when evaluating adverse impacts of potential investments;

Amendment 232 #

Paul TANG, Pedro SILVA PEREIRA

Motion for a resolution
Paragraph 29 a (new)

29 a. Calls on the European Court of Auditors (ECA) to produce a special report with recommendations on the performance of the EIB activities and their alignment with the EU policies and objectives;

Amendment 233 #

Motion for a resolution
Paragraph 29 b (new)

29 b. Highlights that investee companies of the EIB should follow good governance principles, including in tax matters; welcomes that the EIB does not enter into new or renewed operations with entities incorporated or established in jurisdictions listed for tax and AML-CFT purposes and that it may decide to extend this approach to operations with contracting counterparties incorporated or established in jurisdictions which are generally cooperative but have not yet solved outstanding tax good governance deficiencies (jurisdictions listed on Annex II to the EU list of non-cooperative jurisdictions); highlights that extensive checks are required to ensure that counterparties do not benefit from other legal links to such jurisdictions;

Amendment 234 #

Motion for a resolution
Paragraph 29 b (new)

29 b. Calls for the ECA to be granted full auditing rights on all EIB operations, as part of the forthcoming tripartite agreement between the ECA, the EIB and the Commission;

Amendment 235 #

Motion for a resolution
Paragraph 30

30. Welcomes the fact that the EIB is currently working to develop counterparty alignment guidelines; calls on the EIB to develop an ambitious Action Plan for a “counterparts alignment framework” which should include requirements for all financial intermediaries and corporate clients to have in place a credible decarbonisation plan aligned with the Paris Agreement using science-based emission targets by the end of 2021;

Amendment 236 #

Luis GARICANO, Olivier CHASTEL, Ivars IJABS, Paul TANG, Sven GIEGOLD

Motion for a resolution
Paragraph 30 a (new)

30 a. Denounces the conflict of interest that has arisen as a consequence of the appointment of the former EIB Vice- president as a member of Iberdrola´s Board of Directors; notes that this post- public employment with barely any cooling-off period constitutes a risk not only to the reputation and independence of the EIB but to all EU institutions and the European project as a whole; highlights that unaddressed conflict of interest situations might not only compromise the enforcement of high ethical standards throughout European administration, but also jeopardise the right to good administration, threatening the level playing field required for the proper functioning of the single market; demands that the Ethics and Compliance Committee (ECC) explains its decision to allow such a move; recalls that the European Ombudsman found that the EBA´s decision not to forbid its Executive Director from becoming the CEO of a financial industry lobby was maladministration and that forbidding the job move would have been a necessary and proportionate measure;

Amendment 237 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Alfred SANT, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 30 a (new)

30 a. Calls on the EIB to take advantage of the ongoing review of its overall policy on alignments with counterparties and ensure greater transparency and stricter due diligence over its partners and their eligibility to disburse EIB-backed funds under strict conditionality, comprising ethical, integrity, social and environmental criteria;

Amendment 238 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 30 a (new)

30 a. Encourages the EIB Group to swiftly update its non-cooperative jurisdiction (NCJ) policy based on future developments to tax good governance in the EU or at the international level;

Amendment 239 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

30 b. Reiterates, in this regard, its call on the EIB to only work with counterparties which have decarbonisation plans in place by the end of 2025, without prejudice to the ability of the EIB to offer technical assistance on devising such decarbonisation plans;

Amendment 24 #

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Recital B f (new)

B f. whereas EIB investment has the capacity to support the social sector, including health, education and housing;

Amendment 240 #

Motion for a resolution
Paragraph 30 c (new)

30 c. Asks the EIB to provide more regular, in-depth and comprehensive information on the financial intermediaries responsible to redistribute loans in the context of lending operations and include contractual clauses concerning mandatory disclosures from these institutions;

Amendment 241 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 30 d (new)

30 d. Reiterates previous concerns expressed by the Parliament about the lack of control over the funds managed by financial intermediaries and the difficulty of monitoring final beneficiaries and the compliance with eligibility criteria, namely on sustainability standards and other public purposes;

Amendment 242 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 30 e (new)

30 e. Calls on the EIB to reinforce contractual clauses enabling it to suspend disbursements in cases of projects' non- compliance with environmental, social, human rights, tax and transparency standards;

Amendment 243 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 30 f (new)

30 f. Welcomes that the EIB Anti- Fraud Policy, which is the main framework on preventing and deterring Prohibited Conduct in EIB activities, is currently being revised;

Amendment 244 #

Pedro SILVA PEREIRA, Alfred SANT, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 30 g (new)

30 g. Calls furthermore for a stringent Exclusion Policy, to provide the Bank with the possibility to go beyond the application of contractual remedies, by excluding entities found engaged in fraud, corruption, money laundering or other forms of wrongdoing from EIB financing;

Amendment 245 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 30 h (new)

30 h. Takes note of the December 2020 Anti-Money Laundering and Combating Financing of Terrorism Framework of the EIB; is concerned that the framework outlined is not detailed on specific procedures to align the Bank’s activities with EU law, namely on customer due diligence and in particular when enhanced due diligence takes place;

Amendment 246 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 30 i (new)

30 i. Welcomes the adoption of the EIB Group non-cooperation jurisdiction (NCJ) policy in 2019 and subsequent revision of implementing internal procedures; recalls that the policy foresees a general prohibition to enter into operations with contracting counterparties incorporated or established in NCJs, except under strict conditions;

Amendment 247 #

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 30 j (new)

30 j. Welcomes the European Court of Auditors’ work with respect to Union budget funds managed by the EIB and calls on the institutions to agree on enhancing ECA audit rights within the limits of the EU Treaties;

Amendment 25 #

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

B g. whereas in 2019 the EIB approved loans worth EUR 7.8 billion for projects outside the Union, including EUR 1.1 billion in least developed countries (LDCs) and fragile states;

Amendment 26 #

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Recital B h (new)

B h. whereas the EIB Group is currently working to develop counterparty alignment guidelines with environmental and sustainability objectives;

Amendment 27 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph -1 (new)

-1. Stresses that the economic and social crisis caused by the Covid-19 pandemic has significantly harmed economic growth in the EU and that one of the main fallouts is the decline in investment; underlines that the fall in public and private investment has reached alarming levels;

Amendment 28 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 1

1. ~~Expresses serious concerns about the severe~~Notes macroeconomic imbalances deriving from the COVID-19 crisis and their related impact on economic growth, investment, resilience, employment rates and socio-economic inequalities; encourages Member States to address emerging imbalances through reforms that enhance economic and social resilience;

Amendment 29 #

Motion for a resolution
Paragraph 1

1. Expresses serious concerns about the severe macroeconomic imbalances deriving from the COVID-19 crisis and their related impact on sustainable economic growth, investment, resilience, employment rates and socio-economic inequalities;

Amendment 3 #

Motion for a resolution
Citation 6 a (new)

— having regard to the EIB Financial Report for 2019, published on 5 May 2020,

Amendment 30 #

Motion for a resolution
Paragraph 1

1. Expresses serious concerns about the severe macroeconomic imbalances deriving from the COVID-19 crisis and their related impact on economic growth, investment, resilience, education, employment rates and socio-economic inequalities;

Amendment 31 #

Motion for a resolution
Paragraph 1 – point 1 (new)

(1) Recognises that the pandemic has reinforced the need for the EU and Member States to redirect capital flows towards climate adaptation and mitigation projects, to make our economies, businesses and societies, more resilient to climate and environmental shocks and risks;

Amendment 32 #

Motion for a resolution
Paragraph 1 a (new)

1 a. Underlines the fundamental role of the EIB as the EU’s bank, being the only international financial institution that is entirely owned by EU Member States and is fully guided by EU policies and standards; calls, in this regard, for strong EIB action in supporting the economic recovery in the post-pandemic context; highlights the importance of the EIB in targeting investments for the materialization of European priorities, namely the digital and green transitions and the implementation of the European Pillar of Social Rights; considers that current levels of EU investment are insufficient to fulfil EU’s objectives;

Amendment 33 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 2

2. Underlines the EIB’s crucial role in supporting the economic recovery in the short and medium term in conjunction with the European Green Deal, the European Climate Law, the Next Generation EU Recovery Instrument, the EU’s long-term budget, the European Fund for Strategic Investments (EFSI) and other European financial instruments; welcomes the EIB’s financial engagement in the EFSI as a way to help overcome the investment gap in the EU; welcomes, moreover, the EIB’s central role in supplying advisory support under the InvestEU Advisory Hub;

Amendment 34 #

Motion for a resolution
Paragraph 2

2. Underlines the EIB’s crucial role in supporting the economic recovery in the short and medium term in conjunction with the Next Generation EU Recovery Instrument, the EU’s long-term budget, the European Fund for Strategic Investments (EFSI) and other European financial instruments; ~~welcom~~notes the EIB’s financial engagement in the EFSI as a way to help overcome the investment gap in the EU; ~~welcom~~notes, moreover, the EIB’s central role in supplying advisory support under the InvestEU Advisory Hub;

Amendment 35 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 2 a (new)

2 a. Supports the European Council’s conclusion that the EIB should have the necessary capital to implement Union policies and the invitation to the EIB Board of Governors to review the capital adequacy of the EIB in view of the instruments included in the MFF and NGEU, as well as the Bank's contribution to the Union's ambitions in fighting climate change and digitalising Europe's economy;

Amendment 36 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

2 a. Underlines that it is questionable whether EFSI solved the causes of the investment gap or if it merely shifted the risks that private lenders were not willing to take to all European taxpayers;

Amendment 37 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 2 b (new)

2 b. Acknowledges the risks of dead- weight loss and moral hazard of EFSI;

Amendment 38 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 2 c (new)

2 c. Reminds that ECA found that the methodology used to estimate the investment mobilised in some cases overstated the extent to which EFSI support actually induced additional investment in the economy; reminds that some EFSI support just replaced other financing from the EU and the European Investment Bank;

Amendment 39 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 2 d (new)

2 d. Stresses ECA’s recommendation that for all the investment support instruments for the MFF 2021-2027, the Commission should define a set of indicators measuring the expected results of budgetary guarantees in a realistic manner that enables comparison with other EU financial instruments; in particular, if “investment mobilised” and the “multiplier effect” are used as indicators, the calculation methodology and reporting arrangements should appropriately reflect the extent to which EU budget guarantee support actually induces or mobilises the investment of others;

Amendment 4 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA

Motion for a resolution
Citation 8

~~— having regard to the adoption of the Climate Bank Roadmap by the EIB Board of Directors on 11 November 2020 and to the EIB’s new climate strategy of November 2020,~~deleted

Amendment 40 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 2 e (new)

2 e. Is concerned that the lack of comparable performance and monitoring indicators for all EU financial instruments and budgetary guarantees diminishes transparency and the ability to assess results;

Amendment 41 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 2 f (new)

2 f. Reminds that the causes of the investment gap, such as record level of public debts, non-performing loans in the banking sector, and high bureaucratic, regulatory and tax burden, have not yet been properly addressed;

Amendment 42 #

Motion for a resolution
Paragraph 3

3. CNotes that according to the Commission’s 2030 Climate Target Plan, annually in the period 2021-2030 the EU will need to invest € 350 billion more than it did in the period 2011-2020; stresses that an even larger role for the EIB is required to meet this climate investment gap; calls on the Board of Governors to seize the opportunity of favourable lending conditions for the EIB to increase issuance and maturity of bonds; calls on the shareholders of the EIB to agree on a capital increase, both cash-in and callable in nature; emphasises that a capital increase should go hand in hand with greater transparency and democratic accountability as well as more environmental sustainability;

Amendment 43 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 3

3. ~~Calls on the shareholders of the EIB to agree on a capital increase, both cash-in and callable in nature; emphasises that a~~ Notes that the EIB is a highly leveraged institution; invites the shareholders of the EIB to reflect on the optimal equity structure; welcomes the recent capital increase of the of the European Investment Fund (EIF)1a; _________________ 1a https://www.eib.org/en/press/all/2021- 060-capital -increase ~~should go hand in hand with greater transparency and democratic accountability;~~-for-eif-boosts- finance-for-covid-19-impacted- companies-and-strengthens-support-for- green-and-digital-transformation-of-the- eu-economy

Amendment 44 #

Motion for a resolution
Paragraph 3

3. Calls on proper discussion and data-driven analysis of the effectiveness of the possibility that the shareholders of the EIB to agree on a capital increase, both cash- in and callable in nature; ~~emphasises that a capital increase should go hand in hand with greater transparency and democratic accountability;~~

Amendment 45 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

(1) Welcomes the decision of the EIB to use the EU Taxonomy for the purposes of tracking, accounting and reporting climate action and environmental sustainability finance for all operations signed as of 1 January 2021; further calls on other public banks to follow this example;

Amendment 46 #

Motion for a resolution
Paragraph 3 a (new)

3 a. Takes the view that a capital increase is justified in order to allow the Bank to provide long-term finance and support key real economy investments that otherwise would have not taken place, while keeping the current AAA status;

Amendment 47 #

Motion for a resolution
Paragraph 3 a (new)

3 a. Calls on the EIB to avoid overly speculative operations, expanding its credit activity in line with the needs of the European economy and particularly of the social and regional cohesion and inclusive growth;

Amendment 48 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Alfred SANT, Pedro MARQUES, Eero HEINÄLUOMA, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 3 a (new)

3 a. Notes that the EIB's "triple A" rating is an important asset that needs to be preserved;

Amendment 49 #

Motion for a resolution
Paragraph 3 b (new)

3 b. Calls, in this context, on the European Commission to study the possibility to be represented in the EIB Board of Governors through the subscription of capital of the EIB using funds from the EU budget;

Amendment 5 #

Billy KELLEHER, Ivars IJABS, Stéphanie YON-COURTIN, Olivier CHASTEL, Gilles BOYER

Motion for a resolution
Citation 13 a (new)

— having regard to the EIB’s approval of the ratification of the Paris Agreement by the EU of 7 October 2016,

Amendment 50 #

Motion for a resolution
Paragraph 4

4. Asks the EIB as the EU’s public bank to make the utmost concerted efforts to deliver strong, policy-driven financing activity which gives priority to public purpose projects, in particular those that would not otherwise be ‘bankable’, both within and outside the EU, with a view to addressing the unprecedented global challenges of the decades to come, in particular combating climate change and the debt crisis in the European Union;

Amendment 51 #

Motion for a resolution
Paragraph 4

Amendment 52 #

Motion for a resolution
Paragraph 4

4. Asks the EIB as the EU’s public bank to make the utmost concerted efforts to deliver strong, policy-driven financing activity in line with the respective legal provisions which gives priority to public purpose projects, in particular those that would not otherwise be ‘bankable’, both within and outside the EU, with a view to addressing the unprecedented global challenges of the decades to come;

Amendment 53 #

Motion for a resolution
Paragraph 4

4. Asks the EIB as the EU’s public bank to make the utmost concerted efforts to deliver strong, policy-driven financing activity which gives priority to public purpose projects promoting EU policy objectives, in particular those that would not otherwise be ‘bankable’, both within and outside the EU, with a view to addressing the unprecedented global challenges of the decades to come;

Amendment 54 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 4

4. Asks the EIB as the EU’s public bank to make the utmost concerted efforts to deliver strong, policy-driven financing activity which gives priority to p~~ublic purpose projects,~~rojects that promote economic growth, and in particular those that would not otherwise be ‘bankable’, both within and outside the EU, with a view to addressing the unprecedented global challenges of the decades to come;

Amendment 55 #

Motion for a resolution
Paragraph 4

4. Asks the EIB as the EU’s public bank to make the utmost concerted efforts to deliver strong, policy-driven financing activity which gives priority to efficient public purpose projects, in particular those that would not otherwise be ‘bankable’, both within and outside the EU, with a view to addressing the unprecedented global challenges of the decades to come;

Amendment 56 #

Motion for a resolution
Paragraph 4 a (new)

4 a. Urges the EIB to address regional inequalities by supporting direct public investments and the development plans of public authorities, particularly in peripheral countries and countries in post-financial assistance phase, as well as advising on the development of new private and public projects, especially in innovation, digitalisation, infrastructure, support of SMEs and providing the unemployed, particularly the young people, with skills and training, access to finance, aiming at high-quality employment;

Amendment 57 #

Motion for a resolution
Paragraph 4 a (new)

4 a. Calls for prioritisation to regions suffering from a long-term investment deficit especially those suffering from permanent geographical disadvantages such as peripheral, mountainous, and insular regions of the Union;

Amendment 58 #

Motion for a resolution
Paragraph 4 a (new)

4 a. Call on the EIB to ensure a swift implementation of the EC programmes envisaging risk sharing arrangements that will also provide an alignment of interests;

Amendment 59 #

Motion for a resolution
Paragraph 5

5. Emphasises the importance of the additionality factor to be provided by the EIB to investments across the EU; underlines the need to coordinate strategies with other European institutions and National Development Banks; stresses that the EIB must seek to avoid crowding out private investments through its activities;

Amendment 6 #

Motion for a resolution
Citation 13 b (new)

— having regard to the UN Sustainable Development Goals,

Amendment 60 #

Motion for a resolution
Paragraph 5

Amendment 61 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 5 a (new)

5 a. Commends the EIB for setting out targets and carrying out evaluations of the economic, social and environmental impacts of projects supported, as well as their additionality and sustainability;

Amendment 62 #

Motion for a resolution
Paragraph 5 a (new)

5 a. Calls for the exclusion of the EIB programmes from public debt;

Amendment 63 #

Motion for a resolution
Paragraph 6

6. Stresses the importance of avoiding further geographical imbalances in the EIB’s lending activity so as to ensure a broader geographical and sectoral allocation of investments, reduce regional disparities and enhance ~~convergence~~economic and social convergence; calls on the EIB to address systemic shortcomings that prevent certain regions or countries from taking full advantage of its financial activities, inter alia by providing technical assistance and advisory support, especially in regions with low investment capacity, and by advising on the development of projects; welcomes the efforts already made by the EIB in this regard;

Amendment 64 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Alfred SANT, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 6

6. Stresses the importance of avoiding further geographical imbalances in the EIB’s lending activity so as to ensure a broader geographical and sectoral allocation of investments, reduce regional disparities and enhance convergence; welcomes the efforts already made by the EIB in this regard; notices with concern, however, that, according to the geographical breakdown of lending by country in which projects are located, four Member States received almost 50% of the total loans granted in 2019;

Amendment 65 #

Motion for a resolution
Paragraph 6

6. Stresses the importance of avoiding further geographical imbalances in the EIB’s lending activity so as to ensure a broader geographical and sectoral allocation of investments, reduce regional disparities and enhance convergence, also taking into account growth objectives and accountability with regard to investments in the return on funding; welcomes the efforts already made by the EIB in this regard;

Amendment 66 #

Marco ZANNI, Francesca DONATO, Valentino GRANT, Antonio Maria RINALDI

Motion for a resolution
Paragraph 6

Amendment 67 #

Motion for a resolution
Paragraph 6

6. ~~Stresses the importance of avoiding fur~~Takes note of ther geographical ~~imbalances in the~~distribution of EIB’s lending activity ~~so as to ensure a broader geographical and sectoral~~and call for a fair allocation of investments, to reduce regional disparities and to enhance convergence; welcomes the efforts already made by the EIB in this regard;

Amendment 68 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA

Motion for a resolution
Paragraph 6

Amendment 69 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Alfred SANT, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 6 a (new)

6 a. Calls for the EIB to address systemic deficiencies that prevent certain regions or countries from taking full advantage of EIB financial opportunities, by, inter alia, strengthening its efforts to expand its loan activities, providing technical assistance and advisory support, especially in regions which attract low investment and which did not benefit significantly from the derogation to the State-aid rules during the pandemic crisis because of the lack of financial capacity of the State;

Amendment 7 #

Motion for a resolution
Citation 17

~~— having regard to its resolution of 13 November 2020 on the Sustainable Europe Investment Plan – How to finance the Green Deal4 , _________________ 4 Texts adopted, P9_TA(2020)0305.~~deleted

Amendment 70 #

Motion for a resolution
Paragraph 6 a (new)

6 a. Welcomes the study “The EIB and the new EU missions framework”; calls on the EIB to further strengthen the EIB’s inhouse financial and analytical capacities to ensure long-lasting commitment and financing of missions, further promote ecosystem-building and coordination among national and regional mission-relevant actors and further develop higher risk-taking by developing suitable patient, long-term, higher risk financial instruments;

Amendment 71 #

Billy KELLEHER, Ivars IJABS, Linea SØGAARD-LIDELL, Stéphanie YON-COURTIN, Olivier CHASTEL, Gilles BOYER, Ondřej KOVAŘÍK

Motion for a resolution
Paragraph 6 a (new)

6 a. Takes note of the European Court of Auditors' criticism in its "Special Report 12/2020: The European Investment Advisory Hub — Launched to boost investment in the EU, the Hub’s impact remains limited" and calls on the EIB to draw the necessary conclusions for its work going forward;

Amendment 72 #

Motion for a resolution
Paragraph 7

7. Welcomes the EIB’s rapid mobilisation of up to EUR 40 billion of emergency financing to fight the crisis caused by the COVID-19 pandemic, through the setting up of loans, credit holidays and measures to alleviate the liquidity of small and medium-sized enterprises (SMEs) and mid-caps; highlights the importance of supporting SMEs, as the COVID-19 pandemic is particularly hard for these companies; underlines that robust support for SMEs is key for economic growth and to recover from the economic debt crisis;

Amendment 73 #

Billy KELLEHER, Ivars IJABS, Stéphanie YON-COURTIN, Linea SØGAARD-LIDELL, Olivier CHASTEL, Gilles BOYER, Ondřej KOVAŘÍK

Motion for a resolution
Paragraph 8

8. Welcomes, in addition, the subsequent creation of the EUR 25 billion European Guarantee Fund (EGF) in response to the COVID-19 crisis, not least its positive impact in providing financial support to SMEs and the health sector; suggests that the EGF should remain operational beyond 2021 given the prolonged impact of the Covid-19 crisis and the repeated lockdowns in many Member States; deems it of the utmost importance to step up such initiatives to ensure that funds are reaching the real economy;

Amendment 74 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 8

8. Welcomes, in addition, the subsequent creation of the EUR 25 billion European Guarantee Fund (EGF) in response to the COVID-19 crisis, not least its positive impact in providing financial support to SMEs and the health sector; s~~uggest~~tresses that ~~the EGF should remain operational beyond 2021; deems it of the utmost importance to step up such initiatives to ensure that funds are reaching the real economy~~EGF was set up to be temporary in nature and will be able to guarantee loans provided until 31 December 2021;

Amendment 75 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER

Motion for a resolution
Paragraph 8 a (new)

8 a. Urges the EIB to require companies supported by the European Guarantee Fund or other funding programmes put in place to tackle the COVID-19 crisis to comply with binding social and environmental conditions, including the adoption of decarbonisation plans, as to increase their resilience and capacity to withstand future crises, and to refrain to pay out dividends, bonuses and share buy backs for at least the next 2 years after benefiting from support;

Amendment 76 #

Motion for a resolution
Paragraph 8 a (new)

8 a. Calls, in this context, on the EIB to consider proposing additional incentives for projects and credit lines already approved in order to get the projects off the ground as soon as possible and ensure the swift implementation of funds;

Amendment 77 #

Motion for a resolution
Paragraph 8 a (new)

8 a. Deplores the slow roll-out of the EGF with the first funds only approved in late 2020 due to several Member States not delivering the necessary state aid applications in time;

Amendment 78 #

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 9

9. Welcomes the creation of a EUR 6 9. billion investment instrument to support the financing of the healthcare sector, namely medical infrastructure, research, and the development of vaccines; calls on the EIB to prioritise the reinforcement of public health systems and cautions against risks of privatisations and the use of Public Private Partnerships;

Amendment 79 #

Motion for a resolution
Paragraph 9 a (new)

9 a. Notes that in the context of the Coronavirus response and as of 30 September 2020, the EIB has approved 84 operations within the EU for a total investment of €23,5 billion; notes as well that 88% of the approved operations were allocated to SMEs and mid-caps and the health sector;

Amendment 8 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Citation 18 a (new)

— having regard to the European Court of Auditors (ECA) Special Report entitled ‘European Fund for Strategic Investments: Action needed to make EFSI a full success’, published on 29 January 2019

Amendment 80 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 10

10. ~~Welcom~~Notes the creation of a targeted financing initiative of up to EUR 5.2 billion in response to the COVID-19 pandemic in order to support countries outside the EU;

Amendment 81 #

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 10 a (new)

10 a. Welcomes the EIB’s participation in COVAX, by investing €400 million in the COVAX Advanced Market Commitment;

Amendment 82 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 11

11. Underlines that in the light of the successive waves of COVID-19 infections, the efficiency of these instruments will need to be ~~further strengthened and extended; asks the EIB to stand ready to launch new supportive financial initiatives~~scrutinized and enforced;

Amendment 83 #

Motion for a resolution
Paragraph 11

11. Underlines that in the light of the successive waves of COVID-19 infections, these instruments will need to be further strengthened and extended; asks the EIB to stand ready to upscale existing instruments and launch new supportive financial initiatives;

Amendment 84 #

Motion for a resolution
Paragraph 11

11. Underlines that in the light of the successive and unpredictable waves of COVID-19 infections, these instruments will need to be further strengthened and extended; asks the EIB to stand ready to launch new supportive financial initiatives;

Amendment 85 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 11

11. Underlines that in the light of the successive waves of COVID-19 infections, these instruments will need to be further strengthened and extended; asks the EIB to stand ready to launch new supportive financial initiatives if necessary;

Amendment 86 #

Motion for a resolution
Subheading 3

~~Becoming the EU Climate Bank~~deleted

Amendment 87 #

Pedro SILVA PEREIRA, Jonás FERNÁNDEZ, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Paragraph 11 a (new)

11 a. Welcomes the fact that in 2019 31% of EIB’s lending was climate- related;

Amendment 88 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 12

Amendment 89 #

Billy KELLEHER, Ivars IJABS, Linea SØGAARD-LIDELL, Stéphanie YON-COURTIN, Gilles BOYER

Motion for a resolution
Paragraph 12

12. Welcomes the adoption by the EIB Board of Directors of the EIB Climate Bank Roadmap for 2021-2025, which provides a crucial framework to support the implementation of the European Green Deal and marks a decisive step towards making the EIB the EU Climate Bank, promoting sustainable investments and protecting the environment during the critical decade ahead; suggests that the EIB develop, with input from relevant stakeholders, local authorities and NGOs, a series of action plans to guide the implementation of the Climate Roadmap;

Amendment 9 #

Motion for a resolution
Citation 19 a (new)

— having regard to the European Court of Auditors' "Special Report 12/2020: The European Investment Advisory Hub — Launched to boost investment in the EU, the Hub’s impact remains limited";

Amendment 90 #

Motion for a resolution
Paragraph 12

12. Welcomes the adoption by the EIB Board of Directors of the EIB Climate Bank Roadmap for 2021-2025 and the inclusion of the shadow carbon pricing mechanism in particular, which provides a crucial framework to support the implementation of the European Green Deal and marks a decisive step towards making the EIB the EU Climate Bank, promoting sustainable investments and protecting the environment during the critical decade ahead;

Amendment 91 #

Motion for a resolution
Paragraph 12

12. Welcomes the adoption by the EIB Board of Directors of the EIB Climate Bank Roadmap for 2021-2025, which provides a crucial framework to support the transition towards and eventual implementation of the European Green Deal and marks a decisive step towards making the EIB the EU Climate Bank, promoting sustainable investments and protecting the environment during the critical decade ahead;

Amendment 92 #

Eugen JURZYCA, Derk Jan EPPINK, Roberts ZĪLE, Bogdan RZOŃCA, Johan VAN OVERTVELDT

Motion for a resolution
Paragraph 12 a (new)

12 a. Calls on the EIB to uphold its commitment to align all its operations with the objectives of the Paris Agreement and the EU’s objective of achieving climate neutrality by 2050 at the latest;

Amendment 93 #

Motion for a resolution
Paragraph 13

13. ~~Welcome~~Questions the proposal to increase EIB financing for climate action and environmental sustainability, including renewable energies, from around 30 % to at least 50 % by 2025~~, which would unlock~~ ; underlinves~~tment of more than EUR 1 trillion over the next decade~~ the importance of accountability and transparency for bodies that receive and provide EU funding;

Amendment 94 #

Motion for a resolution
Paragraph 13

13. Welcomes the ~~proposal~~decision to increase EIB financing for climate action and environmental sustainability, including renewable energies, from around 30 % to at least 50 % by 2025, which would unlock investment of more than EUR 1 trillion over the next decade;

Amendment 95 #

Motion for a resolution
Paragraph 13

13. ~~Welcomes~~Acknowledges that the proposal to increase EIB financing for climate action and environmental sustainability, including renewable energies, from around 30 % to at least 50 % by 2025, w~~hich would unlock investment of more than EUR 1 tril~~ould involve supporting the measures proposed and current objectives put forward by the European Commission and endorsed by the European Parliament; considers that it has to aliogn ~~over the next decade;~~itself with the priorities set out in the Recovery and Resilience Plan.

Amendment 96 #

Motion for a resolution
Paragraph 13

13. Welcomes the EIB’s climate leadership in becoming the EU’s Climate Bank with the adoption of an ambitious Climate Bank Roadmap in November 2020; further welcomes the proposal to increase EIB financing for climate action and environmental sustainability, including renewable energies, from around 30 % to at least 50 % by 2025, which would unlock investment of more than EUR 1 trillion over the next decade;

Amendment 97 #

Motion for a resolution
Paragraph 13

13. Welcomes the proposal to increase EIB financing for climate action and environmental sustainability, including renewable energies, from around 30 % to at least 50 % by 2025~~, which would unlock investment of more than EUR 1 trillion over the next decade~~;

Amendment 98 #

Motion for a resolution
Paragraph 13 a (new)

13 a. Highlights that developing alternative and sustainable fuels will require significant investments in order to overcome the current technological frontier; encourages the EIB to take into consideration these particular financing needs given their importance for the climate transition;

Amendment 99 #