The Week Ahead 5th - 9th October 2020

European Climate Law; European Crowdfunding Service Providers (ECSP) for Business; Approval of the Appointment of Commissioner-Designates; The European Forest Strategy - The way forward.

European Climate Law

The European Parliament will debate and vote on the report “Establishing the framework for achieving climate neutrality and amending Regulation” - the so called EU Climate Law, which sets out the European Green Deal’s headline goal for Europe’s economy and society to become climate neutral by 2050. The ECR is very concerned that the report reworks the Commission proposal for framework legislation into a treaty-like act, with proposals that have not been impact assessed or do not take account of the COVID-19 pandemic and potentially harmful socio-economic consequences for businesses and farmers. The text does not account for the radically different starting points of Member States - especially countries in Central and Eastern Europe who remain heavily reliant on fossil fuels - or decreasing abatement potential, as is the case for some Mediterranean countries. It also risks creating a major imbalance among Member States, undermining the principle of EU solidarity. Richer and more advanced economies will achieve climate neutrality in advance of 2050, thereby minimising the costs of mitigation, while disproportionately increasing the burden of achieving net zero emissions for poorer, coal-dependent Member States.

Debate: Tuesday @ 3pm

Final Vote: Wednesday @ 5.15pm

European Crowdfunding Service Providers (ECSP) for Business

After its endorsement by the Council in July and the Committee on Economic and Monetary Affairs last week, on Monday the European Parliament will take the final vote on the much anticipated first EU crowdfunding regulations. SMEs typically rely on small investments and, in future, will have common crowdfunding rules for raising liquidity and protecting their investors. ECR Rapporteur Eugen Jurzyca believes that Crowdfunding could be an important driver for investment and growth in the upcoming years.

Vote: Monday @ 7.15pm

Approval of the Appointment of Commissioner-Designates

On Wednesday, MEPs will decide on the appointment of European Parliament Vice President Mairead McGuiness to become the new Commissioner for Financial Services. Adding to his current portfolio, Commission Vice President Valdis Dombrovskis will also take over Trade.

Vote: Wednesday @ 10:30

The European Forest Strategy - The way forward

The European Parliament is going to debate and vote on its position for a possible future European Forest Strategy, that the Commission will prepare for 2021. The ECR believes forests can contribute to the offset of carbon emissions as natural carbon sinks. The key objectives of the text are: effective afforestation, forest preservation and restoration to promote our bio-economy, reducing the impact and extent of fires, as well as protecting biodiversity. The report clearly states that the responsibility for forests lies with the Member States.

Debate: Tuesday @ 11.00

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