Changes between two versions
What changed between the plenary report and the adopted text
From · plenary report· 5 Feb 2024
on the financial activities of the European Investment Bank - annual report 2023
To · adopted text· 28 Feb 2024
Financial activities of the European Investment Bank - annual report 2023
Changes to the text itself, in document order. Cover page, citations and punctuation-only edits are left out; they are under “Every difference”.
The changes · 6
Change 1
Changed:D. Whereaswhereas over 2021-2027, InvestEU’s EUR 26.226,2 billion guarantee, with provisioning from the multiannual financial framework and NextGenerationEU, is expected to mobilise more than EUR 372 billion in additional private and public investment in Europe, mainly for sustainable infrastructure, research, innovation and digitalisation, small and medium-sized enterprises (SMEs), and social investment and skills;
Change 2
Changed:11. Welcomes the fact that the EIB has already met its target of devoting at least half of its resources to climate action and environmental sustainability and that it is on track to meet its target of supporting EUR 1 trillion in green investments by 2030; expects the review of the Climate Bank Roadmap in 2024 to bring the EIB fully into line with the 1.51,5 degree pathway and the target of climate neutrality by 2050 at the latest, while ensuring a just transition for all; believes that the benchmark should be the most ambitious public banking practices; reiterates its call to include a solid assessment of less carbon-intensive alternatives and ‘Scope 3’ emissions for each project;
Change 3
Changed:13. Recalls that all corporate clients of EIB financing are contractually required to create and publish a credible Paris alignment strategy (‘decarbonisation plans’), which will include mid-term, rolling, quantitative emissions reduction targets and options over a longer time frame in order to achieve climate neutrality by 2050 at the latest; expects the EIB to systematically evaluate the credibility of these plans, applying decarbonisation criteria compatible with the 1.51,5 degree target before signing any new financial commitments; reiterates its call for the EIB to work only with financial intermediaries that have a credible decarbonisation plan, including short-term targets that are compatible with the 1.5-degree1,5-degree pathway and that will be put in place as soon as possible and by 2025 at the latest; stresses that such new requirements must not be to the detriment of access to finance for SMEs;
Change 4
Changed:24. Recalls that in 2022, the EIB Group provided financing amounting to a total investment of EUR 16.3516,35 billion for SMEs and mid-caps; notes that according to the EIB Group’s assessment, EIB Group operations providing debt support to SMEs totalled almost EUR 20 billion in annual net signatures between 2010 and 2020; calls on the EIB Group to reflect on ways to further facilitate its support to SMEs, in particular for smaller financing projects;
2 more changes
Change 5
Changed:31. Recalls that the Russian war of aggression against Ukraine is a game changer, as it has fundamentally altered the European security environment and requires an increase in defence readiness and therefore sufficient investments; emphasises the need to make the most effective use of all the instruments at the EIB’s disposal; calls on the EIB to enhance its support to the Strategic European Security Initiative and to the European defence industry, including SMEs, in particular to contribute to continued support for Ukraine; calls on the EIB to reform its eligibility list so that ammunition and military equipment that go beyond dual-use application are no longer excluded from EIB financing;
Change 6
Changed:44. Notes that the EIB has made progress in achieving a more gender balanced workforce, although women remain underrepresented in senior positions and in core areas of activity; regrets that the EIB did not reach its gender targets set for women at various levels in its 2018-2021 EIB diversity and inclusion strategy; callscalls, therefore, on the Bank, therefore,Bank to step up its efforts to increase gender diversity to achieve gender parity and a better balance of genders across all functions and in particular in senior and managerial positions, whilewhilst also maintaining geographical balance; calls on the EIB to further enhance the promotion of all forms of diversity and inclusion;inclusion within its organisation and to set ambitious targets;