Sittings · Document

OPINION (COM(2023)0335 – C90209/2023 – 2023/0199(COD)) 2023-10-03

On the proposal for a regulation of the European Parliament and of the Council establishing the Strategic Technologies for Europe Platform (‘STEP’) and amending Directive 2003/87/EC, Regulations (EU) 2021/1058, (EU) 2021/1056, (EU) 2021/1057, (EU) No 1303/2013, (EU) No 223/2014, (EU) 2021/1060, (EU) 2021/523, (EU) 2021/695, (EU) 2021/697 and (EU) 2021/241

Committee on Economic and Monetary Affairs · Rapporteur: Eva Maria Poptcheva

AMENDMENTS

The Committee on Economic and Monetary Affairs calls on the Committee on Budgets and the Committee on Industry, Research and Energy, as the committees responsible, to take the following into account:

Amendment 1

Proposal for a regulation

Recital 2

Text proposed by the Commission	Amendment
(2) The EU industry has proven its inbuilt resilience but is being challenged. High inflation, labour shortages, post-COVID supply chains disruptions, rising interest rates, and spikes in energy costs and input prices are weighing on the competitiveness of the EU industry. This is paired with strong, but not always fair, competition on the fragmented global market. The EU has already put forward several initiatives to support its industry, such as the Green Deal Industrial Plan,40 the Critical Raw Materials Act41 , the Net Zero Industry Act42 , the new Temporary Crisis and Transition Framework for State aid,43 and REPowerEU.44 While these solutions provide fast and targeted support, the EU needs a more structural answer to the investment needs of its industries, safeguarding cohesion and the level playing field in the Single Market and to reduce the EU’s strategic dependencies.	(2) The EU industry has proven its inbuilt resilience but is being challenged. High inflation, labour shortages, post-COVID supply chains disruptions, rising interest rates, and spikes in energy costs and input prices are weighing on the competitiveness of the EU industry. This is paired with strong, but not always fair, competition on the fragmented global market. The EU has already put forward several initiatives to support its industry, such as the Green Deal Industrial Plan,40 the Critical Raw Materials Act41 , the Net Zero Industry Act42 , the new Temporary Crisis and Transition Framework for State aid,43 and the Recovery and Resilience Facility, as amended by REPowerEU.44 While these solutions provide fast and targeted support, the EU needs a more structural answer to the investment needs of its industries, safeguarding cohesion and the level playing field in the Single Market facilitating access to funding and reducing the EU’s strategic dependencies. STEP is a first step towards these structural solutions, however emphasizes the need for a fully-fledged European Sovereignty Fund with a sizable budget and reminds the crucial role of Own resources in providing the resources needed to build the resilience of European industry in a context of intense global competition for critical technologies.
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40 Communication on A Green Deal Industrial Plan for the Net-Zero Age, COM(2023) 62 final.	40 Communication on A Green Deal Industrial Plan for the Net-Zero Age, COM(2023) 62 final.
41 COM(2023) 160 final	41 COM(2023) 160 final
42 COM(2023) 161 final	42 COM(2023) 161 final
43 Communication on a Temporary Crisis and Transition Framework for State Aid measures (OJ C 101, 17.3.2023, p. 3).	43 Communication on a Temporary Crisis and Transition Framework for State Aid measures (OJ C 101, 17.3.2023, p. 3).
44 Regulation (EU) 2023/435 as regards REPowerEU (OJ L 63, 28.2.2023, p. 1).	44 Regulation (EU) 2023/435 as regards REPowerEU (OJ L 63, 28.2.2023, p. 1).

Amendment 2

Proposal for a regulation

Recital 3

Text proposed by the Commission	Amendment
(3) The uptake and scaling up in the Union of deep and digital technologies, clean technologies, and biotechnologies will be essential to seize the opportunities and meet the objectives of the green and digital transitions, thus promoting the competitiveness of the European industry and its sustainability. Therefore, immediate action is required to support the development or manufacturing in the Union of such technologies, safeguarding and strengthening their value chains thereby reducing the Union’s strategic dependencies, and addressing existing labour and skills shortages in those sectors through trainings and apprenticeships and the creation of attractive, quality jobs accessible to all.	(3) The uptake and scaling up in the Union of deep and digital technologies, clean technologies, and biotechnologies will be essential to seize the opportunities and meet the objectives of the green and digital transitions, thus promoting the competitiveness of the European industry and its sustainability. Therefore, immediate action is required to support the development or manufacturing in the Union of such technologies, safeguarding and strengthening their value chains thereby reducing the Union’s strategic dependencies, and addressing existing labour and skills shortages in those sectors through trainings and apprenticeships and the creation of attractive, quality jobs accessible to all, while maintaining a level playing field in the Single Market.

Amendment 3

Proposal for a regulation

Recital 6

Text proposed by the Commission	Amendment
(6) The scale of investments needed for the transition require a full mobilisation of funding available under existing EU programmes and funds, inclusive those granting a budgetary guarantee for financing and investment operations and implementation of financial instruments and blending operations. Such funding should be deployed in a more flexible manner, to provide timely and targeted support for critical technologies in strategic sectors. Therefore, a Strategic Technologies for Europe Platform (‘STEP’) should give a structural answer to the Union investment needs by helping to better channel the existing EU funds towards critical investments aimed at supporting the development or manufacturing of critical technologies, while preserving a level playing field in the Single Market, thereby preserving cohesion and aiming at a geographically balanced distribution of projects financed under the STEP in accordance with the respective programme mandates.	(6) The scale of investments needed for the transition require a full mobilisation of funding available under existing EU programmes and funds, inclusive those granting a budgetary guarantee for financing and investment operations and implementation of financial instruments and blending operations. Such funding should be deployed in a more flexible manner, to provide timely and targeted support for critical technologies in strategic sectors. Therefore, a Strategic Technologies for Europe Platform (‘STEP’) should give a structural answer to the Union investment needs by helping to better channel the existing EU funds towards critical investments (including non-bankable investments) aimed at supporting the development or manufacturing of critical technologies, while preserving a level playing field in the Single Market, thereby preserving cohesion and aiming at a geographically balanced distribution of projects financed under the STEP in accordance with the respective programme mandates.

Amendment 4

Proposal for a regulation

Recital 6 a (new)

Text proposed by the Commission	Amendment
	(6 a) In view of the scale, required speed and depth of the transition to a net zero economy, it is clear that an increase in public and private investments is required. STEP will help kick start public and private investment in strategic technologies, and must be designed in such a way as to crowd in further public and private investments through all the tools available.

Amendment 5

Proposal for a regulation

Recital 6 b (new)

Text proposed by the Commission	Amendment
	(6 b) The proposal for a Strategic Technologies for Europe Platform is a good opportunity to effectively use and rise absorption rates of the existing Union’s programmes and funds. It could set an example of a unified funding architecture instead of overlapping programmes which are created for every new challenge.

Amendment 6

Proposal for a regulation

Recital 7

Text proposed by the Commission	Amendment
(7) The STEP should identify resources which should be implemented within the existing Union programmes and funds, the InvestEU, Horizon Europe, European Defence Fund and Innovation Fund. This should be accompanied by providing additional funding of EUR 10 billion. Of this, EUR 5 billion should be used to increase the endowment of the Innovation Fund46 and EUR 3 billion to increase the total amount of the EU guarantee available for the EU compartment under the InvestEU Regulation to EUR 7,5 billion,47 taking into account the relevant provisioning rate. EUR 0.5 billion should be made available to increase the financial envelope under the Horizon Europe Regulation,48 which should be amended accordingly; and EUR 1.5 billion to the European Defence Fund.49	(7) The STEP should identify resources which should be implemented within the existing Union programmes and funds, the InvestEU, Horizon Europe, European Defence Fund and Innovation Fund. This should be accompanied by providing additional funding of EUR 13 billion. Of this, EUR 5 billion should be used to increase the endowment of the Innovation Fund46 and EUR 4.2 billion to increase the total amount of the EU guarantee available for the EU compartment under the InvestEU Regulation to EUR 10.5 billion,47 taking into account the relevant provisioning rate. EUR 1.3 billion should be made available to increase the financial envelope under the Horizon Europe Regulation,48 which should be amended accordingly; and EUR 2.5 billion to the European Defence Fund.49
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46 Directive 2003/87/EC establishing a scheme for greenhouse gas emission allowance trading (OJ L 275, 25.10.2003, p. 32).	46 Directive 2003/87/EC establishing a scheme for greenhouse gas emission allowance trading (OJ L 275, 25.10.2003, p. 32).
47 Regulation (EU) 2021/523 establishing the InvestEU Programme (OJ L 107, 26.3.2021, p. 30).	47 Regulation (EU) 2021/523 establishing the InvestEU Programme (OJ L 107, 26.3.2021, p. 30).
48 Regulation (EU) 2021/695 establishing Horizon Europe (OJ L 170, 12.5.2021, p. 1).	48 Regulation (EU) 2021/695 establishing Horizon Europe (OJ L 170, 12.5.2021, p. 1).
49 Regulation (EU) 2021/697 establishing the European Defense Fund (OJ L 170, 12.5.2021, p. 149.)	49 Regulation (EU) 2021/697 establishing the European Defense Fund (OJ L 170, 12.5.2021, p. 149.)

Amendment 7

Proposal for a regulation

Recital 8

Text proposed by the Commission	Amendment
(8) A Sovereignty Seal should be awarded to projects contributing to the STEP objectives, provided that the project has been assessed and complies with the minimum quality requirements, in particular eligibility, exclusion and award criteria, provided by a call for proposals under Horizon Europe, the Digital Europe programme,50 the EU4Health programme,51 the European Defence Fund or the Innovation Fund, and regardless of whether the project has received funding under those instruments. These minimum quality requirements will be established with a view to identify high quality projects. This Seal should be used as a quality label, to help projects attract public and private investments by certifying its contribution to the STEP objectives. Moreover, the Seal will promote better access to EU funding, notably by facilitating cumulative or combined funding from several Union instruments.	(8) A Sovereignty Seal should be awarded to projects contributing to the STEP objectives, provided that the project has been assessed and complies with the minimum quality requirements, in particular eligibility, exclusion and award criteria, provided by a call for proposals under Horizon Europe, the Digital Europe programme,50 the EU4Health programme,51 the European Defence Fund or the Innovation Fund, and regardless of whether the project has received funding under those instruments. The Commission should ensure that any future changes to the mentioned regulations regarding the minimum quality requirements provided by each call for proposals aim to preserve their alignment. These minimum quality requirements will be established with a view to identify high quality projects. This Seal should be used as a quality label, to help projects attract public and private investments by certifying its contribution to the STEP objectives. Moreover, the Seal will promote better access to EU funding, notably by facilitating cumulative or combined funding from several Union instruments. Member States are also encouraged to take into account the Sovereignty Seal when granting national support to projects.
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50 Regulation (EU) 2021/694 establishing the Digital Europe Programme (OJ L 166, 11.5.2021, p. 1).	50 Regulation (EU) 2021/694 establishing the Digital Europe Programme (OJ L 166, 11.5.2021, p. 1).
51 Regulation (EU) 2021/522 establishing a Programme for the Union’s action in the field of health, EU4Health Programme (OJ L 107, 26.3.2021, p. 1).	51 Regulation (EU) 2021/522 establishing a Programme for the Union’s action in the field of health, EU4Health Programme (OJ L 107, 26.3.2021, p. 1).

Amendment 8

Proposal for a regulation

Recital 8 a (new)

Text proposed by the Commission	Amendment
	(8 a) In view of the Union de-risking and economic security objectives, the Commission should take into consideration possible risks related to links between the action and third country entities, such as IP theft, technology transfer of critical technologies, and geopolitical interference, when awarding a Sovereignty Seal.

Amendment 9

Proposal for a regulation

Recital 10

Text proposed by the Commission	Amendment
(10) A new publicly available website (the ‘Sovereignty Portal’) should be set up by the Commission to provide information on available support to companies and project promoters seeking funds for STEP investments. To that end, it should display in an accessible and user-friendly manner the funding opportunities for STEP investments available under the EU budget. This should include information about directly managed programmes, such as Horizon Europe, the Digital Europe programme, the EU4Health programme, and the Innovation Fund, and also other programmes such as InvestEU, the RRF, and cohesion policy funds. Moreover, the Sovereignty Portal should help increase the visibility for STEP investments towards investors, by listing the projects that have been awarded a Sovereignty Seal. The Portal should also list the national competent authorities responsible for acting as contact points for the implementation of the STEP at national level.	(10) A new publicly available website (the ‘Sovereignty Portal’) should be set up by the Commission to provide information on available support to companies and project promoters seeking funds under EU funding programmes. This Sovereignty Portal should bring EU funding opportunities closer to the citizens and businesses. For this purpose, the Portal should become a single and common online platform, where all available EU funding opportunities are displayed in a comprehensive, accessible and user-friendly manner. It seeks to solve an existing market failure, namely an asymmetry of information problem, that hampers the effective and efficient implementation of EU funds. This Portal should include information about directly managed programmes, including but not limited to Horizon Europe, the Digital Europe programme, the EU4Health programme, the European Defense Fund and the Innovation Fund, and also other programmes under shared or indirect management, such as InvestEU, the RRF, and cohesion policy funds. The Sovereignty Portal should also include a self-assessment tool and information on any open calls as a means to facilitate access to EU funding. The Sovereignty Portal shall display a list of programmes that have been awarded funds under any EU funding programme. Moreover, the Sovereignty Portal should help increase the visibility for STEP investments towards investors, by listing the projects that have been awarded a Sovereignty Seal. The Portal should also list the national competent authorities responsible for acting as contact points for the implementation of the STEP at national level. The Commission should ensure that already existing Portals (such as, the InvestEU Portal) cease to exist once they have been integrated in the common Sovereignty Portal.

Amendment 10

Proposal for a regulation

Recital 10 a (new)

Text proposed by the Commission	Amendment
	(10 a) The Commission should monitor the implementation of the Platform objectives to track progress towards the Union’s policy objectives. The monitoring should be conducted in a manner that is targeted and proportionate to the activities carried out under the Platform to avoid overregulation and administrative burden, in particular for the beneficiaries of funding. In order to ensure accountability to the Union’s citizens, the Commission should report annually to the European Parliament and to the Council on the progress of implementation of the Platform objectives under each of the programmes and funds, on the overall expenditure of the STEP financed under the respective programmes and funds, and on the performance of the STEP based on the performance indicators provided for by those programmes. Furthermore, information should be provided on the Platform's qualitative and quantitative contribution to cross-border projects and to projects per Member State.

Amendment 11

Proposal for a regulation

Recital 11

Text proposed by the Commission	Amendment
(11) While the STEP relies on the reprogramming and reinforcement of existing programmes for supporting strategic investments, it is also an important element for testing the feasibility and preparation of new interventions as a step towards a European Sovereignty Fund. The evaluation in 2025 will assess the relevance of the actions undertaken and serve as basis for assessing the need for an upscaling of the support towards strategic sectors.	(11) While the STEP relies on the reprogramming and reinforcement of existing programmes for supporting strategic investments, it is also an important element for testing the feasibility and preparation of further interventions, including the establishment of a fully-fledged European Sovereignty Fund. The evaluation in 2025 will assess the relevance of the actions undertaken and serve as basis for assessing the need for this Fund and will outline the necessary steps towards strategic sectors introducing such a fund.

Amendment 12

Proposal for a regulation

Recital 12

Text proposed by the Commission	Amendment
(12) Directive 2003/87/EC54 should be amended to allow for additional financing with a financial envelope for the period 2024-2027 of EUR 5 billion. The Innovation Fund supports investments in innovative low-carbon technologies, which is a scope that is to be covered by the STEP. The increase in volume of the Innovation Fund should therefore allow to provide financing responding to the objective of supporting the development or manufacturing in the Union of critical clean technologies. In line with the objectives of ensuring cohesion and promoting the Single Market, and in order to support the green transition and the development of clean technologies throughout the Union, the additional financial envelope should be made available through calls for proposals open to entities from Member States whose average GDP per capita is below the EU average of the EU-27 measured in purchasing power standards (PPS) and calculated on the basis of Union figures for the period 2015-2017.	(12) Directive 2003/87/EC54 should be amended to allow for additional financing with a financial envelope for the period 2024-2027 of EUR 5 billion. The Innovation Fund supports investments in innovative low-carbon technologies, which is a scope that is to be covered by the STEP. The increase in volume of the Innovation Fund should therefore allow to provide financing responding to the objective of supporting the development or manufacturing in the Union of critical clean technologies. In line with the objectives of ensuring social, geographical and economic cohesion and promoting the Single Market, and in order to support the green transition and the development of clean technologies throughout the Union, the additional financial envelope should be made available through calls for proposals open to entities from Member States whose average GDP per capita is below the EU average of the EU-27 measured in purchasing power standards (PPS) and calculated on the basis of Union figures for the period 2015-2017.
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54 Directive 2003/87/EC establishing a scheme for greenhouse gas emission allowance trading (OJ L 275, 25.10.2003, p. 32).	54 Directive 2003/87/EC establishing a scheme for greenhouse gas emission allowance trading (OJ L 275, 25.10.2003, p. 32).

Amendment 13

Proposal for a regulation

Recital 13

Text proposed by the Commission	Amendment
(13) In order to extend support possibilities for investments aimed at strengthening industrial development and reinforcement of value chains in strategic sectors, the scope of support from the ERDF should be extended by providing for new specific objectives under the ERDF, without prejudice to the rules on eligibility of expenditure and climate spending as set out in Regulation (EU) 2021/106055 and Regulation (EU) 2021/105856 . In strategic sectors, it should also be possible to support productive investments in enterprises other than SMEs, which can make a significant contribution to the development of less developed and transition regions, as well as in more developed regions of Member States with a GDP per capita below the EU average. Managing authorities are encouraged to promote the collaboration between large enterprises and local SMEs, supply chains, innovation and technology ecosystems. This would allow reinforcing Europe’s overall capacity to strengthen its position in those sectors through providing access to all Member States for such investments, thus counteracting the risk of increasing disparities.	(13) In order to extend support possibilities for investments aimed at strengthening industrial development and reinforcement of value chains in strategic sectors, the scope of support from the ERDF should be extended by providing for new specific objectives under the ERDF, without prejudice to the rules on eligibility of expenditure and climate spending as set out in Regulation (EU) 2021/106055 and Regulation (EU) 2021/105856 . In strategic sectors, it should also be possible to support productive investments in enterprises other than SMEs, which can make a significant contribution to the development of less developed and transition regions, as well as in more developed regions of Member States with a GDP per capita below the EU average. However, even if this possibility exists, it is of the utmost importance that SMEs are not excluded from the programme funding, and a significant and proportionate part of it should still be allocated to them. Managing authorities are encouraged to promote the collaboration between large enterprises and local SMEs, supply chains, innovation and technology ecosystems, and to ensure that SMEs still have effective access to the programme. These changes would allow reinforcing Europe’s overall capacity to strengthen its position in those sectors through providing access to all Member States for such investments, thus counteracting the risk of increasing disparities.
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55 Regulation (EU) 2021/1060 laying down common provisions (OJ L 231, 30.6.2021, p. 159).	55 Regulation (EU) 2021/1060 laying down common provisions (OJ L 231, 30.6.2021, p. 159).
56 Regulation (EU) 2021/1058 on the European Regional Development Fund and on the Cohesion Fund (OJ L 224, 24.6.2021, p. 31).	56 Regulation (EU) 2021/1058 on the European Regional Development Fund and on the Cohesion Fund (OJ L 224, 24.6.2021, p. 31).

Amendment 14

Proposal for a regulation

Recital 19

Text proposed by the Commission	Amendment
(19) InvestEU is the EU flagship programme to boost investment, especially the green and digital transition, by providing demand-driven financing, including through blending mechanisms, and technical assistance. Such approach contributes to crowd in additional public and private capital. Given the high market demand of InvestEU guarantee, the EU compartment of InvestEU should be reinforced to correspond to the objectives of the STEP. This will, among other things, reinforce InvestEU’s existing possibility to invest in projects forming part of an IPCEI, within the identified critical technology sectors. In addition, Member States are encouraged to contribute to the InvestEU Member State compartment to support financial products in line with the STEP objectives, without prejudice to applicable State aid rules. It should be possible for Member States to include as a measure in their recovery and resilience plans a cash contribution for the purpose of the Member State compartment of InvestEU to support objectives of the STEP. That additional contribution to support objectives of the STEP could reach up to 6% of their recovery and resilience plan’s total financial allocation to the Member State compartment of InvestEU. Additional flexibility and clarifications should also be introduced to better pursue the objectives of the STEP.	(19) InvestEU is the EU flagship programme to boost investment, especially the green and digital transition, by providing demand-driven financing, including through blending mechanisms, and technical assistance. Such approach contributes to crowd in additional public and private capital. Given the high market demand of InvestEU guarantee, the EU compartment of InvestEU should be reinforced to correspond to the objectives of the STEP. This will, among other things, reinforce InvestEU’s existing possibility to invest in projects forming part of an IPCEI, within the identified critical technology sectors. In addition, Member States are encouraged to contribute to the InvestEU Member State compartment to support financial products in line with the STEP objectives, without prejudice to applicable State aid rules. It should be possible for Member States to include as a measure in their recovery and resilience plans a cash contribution for the purpose of the Member State compartment of InvestEU to support objectives of the STEP, including measures aiming to channel all necessary resources to non-bankable and cross-border critical projects as the former potentially offer a higher reward and would pave the way for future EU leadership in those sectors, and the latter would contribute to the cohesion of the Union. That additional contribution to support objectives of the STEP could reach up to 10% of their recovery and resilience plan’s total financial allocation to the Member State compartment of InvestEU. Additional flexibility and clarifications with regards to cross-border critical projects should also be introduced to better pursue the objectives of the STEP.

Amendment 15

Proposal for a regulation

Recital 19 a (new)

Text proposed by the Commission	Amendment
	(19 a) The Commission and all authorities in charge of programmes falling under STEP should in any case be encouraged to ensure consistency, coherence, complementarity and synergies among sources of funding with the STEP objectives.

Amendment 16

Proposal for a regulation

Article 3 – paragraph 1 – point a

Text proposed by the Commission	Amendment
(a) a Union guarantee referred to in Article 4(1) of Regulation (EU) 2021/523 with the indicative amount of EUR 7 500 000 000 That guarantee shall be implemented in accordance with Regulation (EU) 2021/523;	(a) a Union guarantee referred to in Article 4(1) of Regulation (EU) 2021/523 with the indicative amount of EUR 10 500 000 000 That guarantee shall be implemented in accordance with Regulation (EU) 2021/523;

Amendment 17

Proposal for a regulation

Article 3 – paragraph 1 – point b

Text proposed by the Commission	Amendment
(b) an amount of EUR 500 000 000 in current prices of the financial envelope referred to in point (i) of Article 12(2)(c) of Regulation (EU) 2021/695. That amount shall be implemented in accordance with Regulation (EU) 2021/695;	(b) an amount of EUR 1 300 000 000 in current prices of the financial envelope referred to in point (i) of Article 12(2)(c) of Regulation (EU) 2021/695. That amount shall be implemented in accordance with Regulation (EU) 2021/695;

Amendment 18

Proposal for a regulation

Article 3 – paragraph 1 – point d

Text proposed by the Commission	Amendment
(d) An amount of EUR 1 500 000 000 in current prices of the financial envelope refered to in Article 4(1) of Regulation (EU) 2021/697. That amount shall be implemented in accordance with Regulation (EU) 2021/697.	(d) An amount of EUR 2 500 000 000 in current prices of the financial envelope refered to in Article 4(1) of Regulation (EU) 2021/697. That amount shall be implemented in accordance with Regulation (EU) 2021/697.

Amendment 19

Proposal for a regulation

Article 4 – paragraph 1

Text proposed by the Commission	Amendment
1. The Commission shall award a Sovereignty Seal to any action contributing to any of the Platform objectives, provided the action has been assessed and complies with the minimum quality requirements, in particular eligibility, exclusion and award criteria, provided by a call for proposals under Regulation (EU) 2021/695, Regulation (EU) 2021/694, Regulation (EU) 2021/697, Regulation (EU) 2021/522, or Commission Delegated Regulation (EU) 2019/856.	1. The Commission shall award a Sovereignty Seal to any action contributing to any of the Platform objectives, as referred to in paragraph 2a, provided the action has been assessed and complies with the minimum quality requirements, in particular eligibility, exclusion and award criteria, provided by a call for proposals under Regulation (EU) 2021/695, Regulation (EU) 2021/694, Regulation (EU) 2021/697, Regulation (EU) 2021/522, or Commission Delegated Regulation (EU) 2019/856.

Amendment 20

Proposal for a regulation

Article 4 – paragraph 1 – subparagraph 1 (new)

Text proposed by the Commission	Amendment
	The Sovereignty Seal shall be valid for the period of the implementation of the project, during which there shall be a commitment from the company not to relocate the project outside of the Union . If a project having been awarded the seal has not started after five years it can be reviewed for the purpose of compatibility with STEP strategic priorities. When conducting the above-mentioned review, the Commission shall ensure that all projects do comply with Union’s and national labour laws, social rights and workers’ rights, as well as applicable collective agreements.

Amendment 21

Proposal for a regulation

Article 4 – paragraph 3

Text proposed by the Commission	Amendment
3. When revising their recovery and resilience plans in accordance with Regulation (EU) 2021/241, Member States shall, without prejudice to the provisions of that Regulation, consider as a priority action which have been awarded a Sovereignty Seal in accordance with paragraph 1.	3. When revising their recovery and resilience plans in accordance with Regulation (EU) 2021/241, Member States shall, without prejudice to the provisions of that Regulation, consider as a priority the actions that have been awarded a Sovereignty Seal in accordance with paragraph 1.

Amendment 22

Proposal for a regulation

Article 4 – paragraph 4

Text proposed by the Commission	Amendment
4. When deciding on investment projects to finance from their respective shares of the Modernisation Fund in accordance with Article 10d of Directive 2003/87/EC, Member States shall consider as a priority project for critical clean technologies which have received the Sovereignty Seal in accordance with paragraph 1. In addition, Member States may decide to grant national support to projects with a Sovereignty Seal contributing to the Platform objective referred to in Article 2(1), point (a)(ii).	4. When deciding on investment projects to finance from their respective shares of the Modernisation Fund in accordance with Article 10d of Directive 2003/87/EC, Member States shall consider as a priority the projects for critical clean technologies which have received the Sovereignty Seal in accordance with paragraph 1. In addition, Member States may decide to grant national support to projects with a Sovereignty Seal contributing to the Platform objective referred to in Article 2(1), point (a)(ii).

Amendment 23

Proposal for a regulation

Article 4 – paragraph 5

Text proposed by the Commission	Amendment
5. Under Regulation (EU) 2021/523, the Sovereignty Seal shall be taken into account in the context of the procedure provided for in Article 19 of the European Investment Bank Statute and of the policy check as laid down in Article 23(3) of that Regulation. In addition, the implementing partners shall examine projects having been awarded the Sovereignty Seal in case they fall within their geographic and activity scope as laid down in Article 26(5) of that Regulation.	5. Under Regulation (EU) 2021/523, the Sovereignty Seal shall be taken into account in the context of the procedure provided for in Article 19 of the European Investment Bank Statute.

Amendment 24

Proposal for a regulation

Article 4 a (new)

Text proposed by the Commission	Amendment
	Article 4 a
	STEP Committee
	1. The Commission shall set up a STEP Committee composed of Commission experts on the technologies referred to in Article 2(1), point (a) and on the Union programmes and funds form which the Platform is financially supported.
	2. The STEP Committee shall have the following tasks:
	(a) to provide first point of contact support to project promoters, including by advising on funding possibilities and by coordinating with responsible Commission services;
	(b) to award and promote the Sovereignty Seal referred to in Article 4(1) and to liaise with managing authorities responsible for calls for proposals and calls for tender to increase the funding opportunities across programmes for projects that have been awarded the Sovereignty Seal, without interfering in the selection procedures;
	(c) to liaise with other existing structures, especially the Net-Zero Europe Platform established in accordance with Regulation (EU) .../... [Net Zero Industry Act] and the Critical Raw Materials Board established pursuant to Regulation (EU) .../... [Critical Raw Materials Act], national competent authorities designated in accordance with Article 6(4) of this Regulation, implementing partners and the European Advisory Group referred to in paragraph 3 of this Article, with a view to coordinating and exchanging information about the financial needs of, the existing bottlenecks and the best practices for projects across the Union;
	(d) to foster contacts across sectors referred to in Article 2, making particular use of existing industrial alliances, networks and structures, such as the European Institute of Innovation & Technology (EIT) and the Joint Undertakings;
	3. The Commission shall set up a European Advisory Group on Strategic Technologies composed of representatives of Union industry and trade unions to advise and assist it on the implementation of the Platform in the relevant sectors.

Amendment 25

Proposal for a regulation

Article 6 – paragraph 1 – introductory part

Text proposed by the Commission	Amendment
1. The Commission shall establish a dedicated publicly available website (the ‘Sovereignty portal’), providing investors with information about funding opportunities for projects linked to the Platform objectives and grant visibility to those projects, in particular by displaying the following information:	1. The Commission shall establish a dedicated publicly available website (the ‘Sovereignty portal’), where information about all EU funding programmes under direct, shared or indirect management is displayed.

Amendment 26

Proposal for a regulation

Article 6 – paragraph 1 – point a

Text proposed by the Commission	Amendment
(a) ongoing and upcoming calls for proposals and calls for tender linked to the Platform objectives under the respective programmes and funds;	deleted

Amendment 27

Proposal for a regulation

Article 6 – paragraph 1 – point b

Text proposed by the Commission	Amendment
(b) projects that have been awarded a Sovereignty Seal quality label in accordance with Article 4;	deleted

Amendment 28

Proposal for a regulation

Article 6 – paragraph 1 – point c

Text proposed by the Commission	Amendment
(c) projects that have been identified as strategic projects under the [Net-Zero Industry Act] and the [Critical Raw Materials Act], to the extent that they fall within the scope of Article 2;	deleted

Amendment 29

Proposal for a regulation

Article 6 – paragraph 1 – point d

Text proposed by the Commission	Amendment
(d) contacts to the national competent authorities designated in accordance with paragraph 4;	deleted

Amendment 30

Proposal for a regulation

Article 6 – paragraph 2

Text proposed by the Commission	Amendment
2. The Sovereignty portal shall also display information about the implementation of the Platform and in relation to Union budget expenditure as referred to in Article 5, as well as the performance indicators defined under the respective programmes.	2. The Sovereignty portal shall project promoters to find available EU funding programmes that are relevant for their project. With this aim, the Sovereignty Portal shall include:

Amendment 31

Proposal for a regulation

Article 6 – paragraph 2 – point a (new)

Text proposed by the Commission	Amendment
	(a) information about all EU funding programmes and access to any open calls for proposals and calls for tender, and

Amendment 32

Proposal for a regulation

Article 6 – paragraph 2 – point b (new)

Text proposed by the Commission	Amendment
	(b) a self-assessment tool for project promoters, which will gather information about the particular project in order to highlight the relevant EU funding programmes under direct, shared or indirect management, for which the project could be eligible.

Amendment 33

Proposal for a regulation

Article 6 – paragraph 2 a (new)

Text proposed by the Commission	Amendment
	2 a. The Sovereignty Portal shall also display an up to date list of projects that have been awarded funds under any EU funding programme, as well as those projects that have been awarded a Sovereignty Seal according to Article 4 of this Regulation. The Portal shall allow public and private investors to filter the listed projects.

Amendment 34

Proposal for a regulation

Article 6 – paragraph 3

Text proposed by the Commission	Amendment
3. The Sovereignty portal shall be launched at the [date of the entry into force of this Regulation] and shall be updated by the Commission regularly.	3. The Sovereignty portal shall be launched not later than 6 months after the [date of the entry into force of this Regulation] and shall be updated by the Commission regularly.

Amendment 35

Proposal for a regulation

Article 8 – paragraph 2 a (new)

Text proposed by the Commission	Amendment
	2 a. The evaluation report shall assess whether Union funding programmes have sufficient scale to prevent the fragmentation of the Single Market following the loosening of state aid restrictions. The evaluation shall outline the necessary steps to introduce a European Sovereignty Fund, with a view to preventing the fragmentation of the Single Market and reducing strategic dependencies of the Union.

Amendment 36

Proposal for a regulation

Article 8 – paragraph 3

Text proposed by the Commission	Amendment
3. Where appropriate, the evaluation shall be accompanied by a proposal for amendments of this Regulation.	3. Where appropriate, the evaluation report shall be accompanied by a proposal for amendments of this Regulation or by a new legislative proposal.

Amendment 37

Proposal for a regulation

Article 16 – paragraph 1 – point 2 – point a

Regulation (EU) 2021/523

Article 4 – paragraph 1 – first subparagraph

Text proposed by the Commission	Amendment
The EU guarantee for the purposes of the EU compartment referred to in Article 9(1), point (a), shall be EUR 33 652 310 073 in current prices. It shall be provisioned at the rate of 40 %. The amount referred to in Article 35(3), first subparagraph, point (a), shall be also taken into account for contributing to the provisioning resulting from that provisioning rate.;	The EU guarantee for the purposes of the EU compartment referred to in Article 9(1), point (a), shall be EUR 36 652 310 073 in current prices. It shall be provisioned at the rate of 40 %. The amount referred to in Article 35(3), first subparagraph, point (a), shall be also taken into account for contributing to the provisioning resulting from that provisioning rate.;

Amendment 38

Proposal for a regulation

Article 16 – paragraph 1 – point 2 – point b

Regulation (EU) 2021/523

Article 4 – paragraph 2 – second subparagraph

Text proposed by the Commission	Amendment
An amount of EUR 18 827 310 073 in current prices of the amount referred to in the first subparagraph of paragraph 1 of this Article shall be allocated for the objectives referred to in Article 3(2).;	An amount of EUR 21 827 310 073 in current prices of the amount referred to in the first subparagraph of paragraph 1 of this Article shall be allocated for the objectives referred to in Article 3(2).;

Amendment 39

Proposal for a regulation

Article 16 – paragraph 1 – point 4 – point b

Regulation (EU) 2021/523

Article 8 – paragraph 1 a (new)

Text proposed by the Commission	Amendment
	1 a A new paragraph 8a is added:
	‘Implementing partners shall award at least 30% of the overall amount available under the STEP policy window to SMEs.'

Amendment 40

Proposal for a regulation

Article 16 – paragraph 1 – point 6

Regulation (EU) 2021/523

Article 13 – paragraph 4

Text proposed by the Commission	Amendment
4. At least 75 % of the EU guarantee under the EU compartment as referred to in Article 4(1), first subparagraph, amounting to at least EUR 25 239 232 554, shall be granted to the EIB Group. The EIB Group shall provide an aggregate financial contribution amounting to at least EUR 6 309 808 138. That contribution shall be provided in a manner and form that facilitates the implementation of the InvestEU Fund and the achievement of the objectives set out in Article 15(2).;	4. 75 % of the EU guarantee under the EU compartment as referred to in Article 4(1), first subparagraph, amounting to EUR 27 489 232 554, shall be granted to the EIB Group. The EIB Group shall provide an aggregate financial contribution amounting to EUR 6 872 308 138. That contribution shall be provided in a manner and form that facilitates the implementation of the InvestEU Fund and the achievement of the objectives set out in Article 15(2).;
	Where the implementing partners do not make full use of the remaining 25 % of the EU guarantee under the EU compartment, the Commission may determine that they do not have sufficient absorption capacity and exceptionally allow the EIB Group to be temporarily granted the excess amount.

Amendment 41

Proposal for a regulation

Article 16 – paragraph 1 – point 6 a (new)

Regulation (EU) 2021/523

Article 13

Text proposed by the Commission	Amendment
	(6 a) In Article 13, the following paragraph shall be inserted:
	"6a The EIB Group shall ensure that:
	(a) at least, 40% of the EU guarantee granted to the EIB Group will support investment on non-bankable projects;
	(b) at least, 35% of the EU guarantee granted to the EIB Group will support cross-border projects."

Amendment 42

Proposal for a regulation

Article 16 – paragraph 1 – point 6 b (new)

Regulation (EU) 2021/523

Article 13

Text proposed by the Commission	Amendment
	(6 b) In Article 13, the following paragraph shall be inserted:
	“6a. The EIB Group shall aim for preserving a geographical balance, particularly with regards to cross-border projects.”

Amendment 43

Proposal for a regulation

Article 16 – paragraph 1 – point 6 c (new)

Regulation (EU) 2021/523

Article 13 – paragraph 5

Text proposed by the Commission	Amendment
	(6 c) Article 13(5) shall be replaced by the following:
	"The remaining 25 % of the EU guarantee under the EU compartment shall be granted to other implementing partners, unless the Commission adopts the decision referred to in paragraph 4. The implementing partners shall also provide a financial contribution to be determined in the guarantee agreements."

Amendment 44

Proposal for a regulation

Article 16 – paragraph 1 – point 6 d (new)

Regulation (EU) 2021/523

Article 13

Text proposed by the Commission	Amendment
	(6 d) In Article 13, the following paragraph shall be inserted:
	"5a The Commission shall mention and justify any decision to allow the EIB Group to be granted more than 75% of the guarantee in the Annual Report to the European Parliament referred to in article 7 of Regulation.../... [STEP Regulation]. The European Commission shall also inform of any actions aiming to increase the absorption capacity of the other implementing partners."

Amendment 45

Proposal for a regulation

Article 16 – paragraph 1 – point 6 e (new)

Regulation (EU) 2021/523

Article 19 – paragraph 1

Text proposed by the Commission	Amendment
	(6 e) In Article 19(1), the second sub-paragraph shall be replaced by the following:
	"The implementing partner shall have appropriate exposure at its own risk to financing and investment operations supported by the EU guarantee, unless exceptionally the policy objectives targeted by the financial product to be implemented are of such nature that the implementing partner could not reasonably contribute its own risk-bearing capacity to it. The EU guarantee will cover up to 70% of the risk exposure in projects that fall under the STEP policy window."

Amendment 46

Proposal for a regulation

Article 16 – paragraph 1 – point 9

Regulation (EU) 2021/523

Article 25 – point j

Text proposed by the Commission	Amendment
(j) provide advisory support to equity fund managers active in the areas referred to in point (e) of Article 8(1).	(j) provide advisory support to equity fund managers and other relevant stakeholders active in the areas referred to in point (e) of Article 8(1), including, regarding the valuation of intangible assets.

Amendment 47

Proposal for a regulation

Article 16 – paragraph 1 – point 9 a (new)

Regulation (EU) 2021/523

Article 26 – paragraph 1

Text proposed by the Commission	Amendment
	(9 a) Article 26(1) shall be replaced by the following:
	‘(j) provide advisory support to equity fund managers active in the areas referred to in point (e) of Article 8(1).’
	"The Commission shall establish the InvestEU Portal. The InvestEU Portal shall be an easily accessible and user-friendly project database that provides relevant information for each project. The Commission shall ensure the InvestEU Portal ceases to exist once it is integrated in the common Sovereignty Portal, as referred to in Article 6 of the [STEP Regulation]."

Amendment 48

Proposal for a regulation

Article 16 – paragraph 1 – point 12

Regulation (EU) 2021/523

Annex I – point e

Text proposed by the Commission	Amendment
(e) up to EUR 7 500 000 000 for objectives referred to in Article 3(2), point (e).	(e) up to EUR 10 500 000 000 for objectives referred to in Article 3(2), point (e).

Amendment 49

Proposal for a regulation

Article 17 – paragraph 1 – point 1 – point a

Regulation (EU) 2021/695

Article 12 – paragraph 1

Text proposed by the Commission	Amendment
1. The financial envelope for the implementation of the Programme for the period from 1 January 2021 to 31 December 2027 shall be EUR 86 623 000 000 in current prices for the specific programme referred to in point (a) of Article 1(2) and for the EIT and EUR 9 453 000 000 in current prices for the specific programme referred to in point (c) of Article 1(2).	1. The financial envelope for the implementation of the Programme for the period from 1 January 2021 to 31 December 2027 shall be EUR 87 423 000 000 in current prices for the specific programme referred to in point (a) of Article 1(2) and for the EIT and EUR 10 453 000 000 in current prices for the specific programme referred to in point (c) of Article 1(2).

Amendment 50

Proposal for a regulation

Article 17 – paragraph 1 – point 1 – point b – introductory part

Regulation (EU) 2021/695

Article 12 – paragraph 1

Text proposed by the Commission	Amendment
(b) in paragraph 2, points (b) and (c) are replaced by the following:	(b) in paragraph 2, point (c) is replaced by the following:

Amendment 51

Proposal for a regulation

Article 17 – paragraph 1 – point 1 – point b

Regulation (EU) 2021/695

Article 12 – paragraph 2

Text proposed by the Commission	Amendment
(b) EUR 46 628 000 000 for Pillar II 'Global Challenges and European Industrial Competitiveness' for the period 2021 to 2027, of which:	deleted
(i) EUR 6 775 000 000 for cluster 'Health';
(ii) EUR 1 350 000 000for cluster 'Culture, Creativity and Inclusive Society';
(iii) EUR 1 276 000 000 for cluster 'Civil Security for Society';
(iv) EUR 13 229 000 000 for cluster 'Digital, Industry and Space';
(v) EUR 13 229 000 000 for cluster 'Climate, Energy and Mobility';
(vi) EUR 8 799 000 000 for cluster 'Food, Bioeconomy, Natural Resources, Agriculture and Environment';
(vii) EUR 1 970 000 000 for the non-nuclear direct actions of the JRC;

Amendment 52

Proposal for a regulation

Article 18 – paragraph 1 – point 1 – point a

Regulation (EU) 2021/697

Article 4

Text proposed by the Commission	Amendment
1. In accordance with Article 12(1) of Regulation (EU) 2021/695, the financial envelope for the implementation of the Fund for the period from 1 January 2021 to 31 December 2027 shall be EUR 9 453 000 000 in current prices.	1. In accordance with Article 12(1) of Regulation (EU) 2021/695, the financial envelope for the implementation of the Fund for the period from 1 January 2021 to 31 December 2027 shall be EUR 10 453 000 000 in current prices.

Amendment 53

Proposal for a regulation

Article 18 – paragraph 1 – point 1 – point b

Regulation (EU) 2021/697

Article 4

Text proposed by the Commission	Amendment
(a) EUR 3 151 000 000 for research actions;	(a) EUR 3 485 000 000 for research actions;

Amendment 54

Proposal for a regulation

Article 18 – paragraph 1 – point 1 – point b

Regulation (EU) 2021/697

Article 4

Text proposed by the Commission	Amendment
(b) EUR 6 302 000 000 for development actions.	(b) EUR 6 968 000 000 for development actions.

Amendment 55

Proposal for a regulation

Article 18 – paragraph 1 – point 1 – point c

Regulation (EU) 2021/697

Article 4

Text proposed by the Commission	Amendment
An amount of EUR 1 500 000 000 in current prices of the amount referred to in paragraph 2 shall be allocated to calls for proposals or awards of funding supporting investments contributing to the STEP objectives referred to in Article 2(1), point (a)(i) of Regulation .../...70 [STEP Regulation].	An amount of EUR 2 500 000 000 in current prices of the amount referred to in paragraph 2 shall be allocated to calls for proposals or awards of funding supporting investments contributing to the STEP objectives referred to in Article 2(1), point (a)(i) of Regulation .../...70 [STEP Regulation].
__________________	__________________
70 Regulation …/… of the European Parliament and of the Council … [insert full title and OJ reference].	70 Regulation …/… of the European Parliament and of the Council … [insert full title and OJ reference].

Amendment 56

Proposal for a regulation

Article 19 – paragraph 1 – point 1

Regulation (EU) 2021/241

Article 7

Text proposed by the Commission	Amendment
3. Without prejudice to paragraph 2, Member States may also propose to include in their recovery and resilience plan, as estimated costs, the amount of the cash contribution for the purpose of the Member State compartment pursuant to the relevant provisions of the InvestEU Regulation exclusively for measures supporting investment operations contributing to the STEP objectives referred to in Article 2 of Regulation .../...71 [STEP Regulation]. Those costs shall not exceed 6 % of the recovery and resilience plan’s total financial allocation, and the relevant measures, as set out in the recovery and resilience plan, shall respect the requirements of this Regulation.	3. Without prejudice to paragraph 2, Member States may also propose to include in their recovery and resilience plan, as estimated costs, the amount of the cash contribution for the purpose of the Member State compartment pursuant to the relevant provisions of the InvestEU Regulation exclusively for measures supporting investment operations contributing to the STEP objectives referred to in Article 2 of Regulation .../...71 [STEP Regulation]. Those costs shall not exceed 10 % of the recovery and resilience plan’s total financial amount, and the relevant measures, as set out in the recovery and resilience plan, shall respect the requirements of this Regulation.
__________________	__________________
71 Regulation …/… of the European Parliament and of the Council … [insert full title and OJ reference].	71 Regulation …/… of the European Parliament and of the Council … [insert full title and OJ reference].