### 10. highlights that the rrf presents an unprecedented and unique opportunity for all member states to address key structural challenges and investment needs and insists that all recovery and resilience plans address all requirements of the rrf regulation , in particular the six pillars; highlights the interplay between the european semester and the rrf; calls on the member states to make the most of this opportunity and to use it to transform their economies and make them sustainable , more competitive and more resilient to future shocks; highlights the role of the european parliament in the implementation of the rrf , as enshrined in the rrf regulation; ### 10. highlights that the rrf presents an unprecedented and unique opportunity for all member states to address key structural challenges and investment needs and insists that all recovery and resilience plans address all requirements of the rrf regulation , in particular the six pillars; highlights the interplay between the european semester and the rrf; calls on the member states to make the most of this opportunity and to use it to transform their economies and make them socially and environmentally sustainable and more resilient to future shocks; highlights the role of the european parliament in the implementation of the rrf , as enshrined in the rrf regulation;


### 11. highlights that the covid-19 pandemic has had a significant impact on women; emphasises the importance of increasing women’s participation in the economy , including inclusive participation in the digital economy and transformation , and ensuring more inclusive growth as part of the solution to the post-pandemic recovery , which will help to increase jobs , economic prosperity and competitiveness across the eu; ### 11. highlights that the covid-19 pandemic has had a significant impact on women; emphasises the importance of increasing women’s participation in the economy , including inclusive participation in the digital economy and transformation , and ensuring more inclusive growth as part of the solution to the post-pandemic recovery , which will help to increase jobs , wages and economic prosperity across the eu;


### 13. is concerned that the commission identified macroeconomic vulnerabilities related to imbalances and excessive imbalances in 12 member states; is worried that the nature and source of member states’ imbalances remain largely the same as before the pandemic and that the pandemic could also be exacerbating imbalances and economic divergences; calls on the member states to take advantage of the unprecedented opportunity provided by the rrf to significantly reduce existing macroeconomic imbalances , in particular by including ambitious reform measures in the national plans of all member states; stresses that sound execution is essential to make full use of this opportunity; ### 13. is concerned that the commission identified macroeconomic vulnerabilities related to imbalances and excessive imbalances in 12 member states; is worried that the nature and source of member states’ imbalances remain largely the same as before the pandemic and that the pandemic could also be exacerbating imbalances and economic divergences; notes that the persistence of such imbalances demonstrates the structural deficiencies of the eurozone architecture; notes that , in the absence of broad structural changes , including a sizeable common budget with a redistributive nature , the eurozone will continue to promote these imbalances and foster social and economic unrest;


### 14. recognises the importance of the macroeconomic imbalance procedure in identifying , preventing and addressing macroeconomic imbalances in the eu; highlights that continuous monitoring and vigilance will be needed and that member states should address emerging imbalances through reforms that enhance economic and social resilience and promote the digital transformation and green and just transitions; ### deleted


### 15. welcomes the inclusion of labour rights in essf standard 8; ### 15. welcomes the inclusion of labour rights in essf standard 8; underlines the importance of developing fair , safe and healthy working conditions and respecting labour rights in fostering workforce commitment and effective project implementation;


### 18. regrets that the new essf includes no significant improvement in human rights protection or procedures to prevent human rights violations; calls for this to be addressed in the statement on human rights; is very concerned that in some cases , the eib has continued to disburse loans despite clear human rights abuses; ### 18. regrets that the new essf includes no significant improvement in human rights protection or procedures to prevent human rights violations; calls for this to be addressed in the statement on human rights; is very concerned that in some cases , the eib has continued to disburse loans despite clear human rights abuses; calls , therefore , on the eib 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 consulted and that the right to free prior and informed consent (fpic) is implemented in a systematic manner; calls , furthermore , on the eib to develop specific policies on human rights defenders and protocols to respond to risks of reprisals;


### transparency and governance ### transparency , accountability , governance and gender equality


### (2) the european monitoring centre for drugs and drug addiction was set up to provide factual , objective , reliable and comparable information concerning drugs , drug addiction and their consequences at union level to provide the union and the member states with evidence to inform policymaking and guide initiatives to tackle drugs and thus give them added value when , in their respective areas of competence , they take measures or decide on action to address the drugs phenomenon. the creation of the european monitoring centre for drugs and drug addiction has manifestly improved the availability of information on drugs and drug addiction across europe. ### (2) the european monitoring centre for drugs and drug addiction was set up to provide factual , objective , reliable and comparable information concerning drugs , drug addiction and their consequences at union level to provide the union and the member states with evidence to inform policymaking and guide initiatives to tackle drugs and thus give them added value when , in their respective areas of competence , they take measures or decide on action to address the drugs phenomenon. the work of the european monitoring centre for drugs and drug addiction has manifestly improved the availability of information on drugs and drug addiction across europe and internationally.


### (3) whereas its general objective is still valid and should be retained , regulation (ec) no 1920/2006 as such no longer fits for addressing the current and future drug challenges. therefore , the mandate of the european monitoring centre for drugs and drug addiction should be revised , including its replacement and renaming into “european union drugs agency” (‘the agency’). since substantial amendments to regulation (ec) no 1920/2006 are needed to accommodate the common approach for union decentralised agencies48 and to take account of the developments of the drug phenomenon , in the interest of clarity that regulation should be replaced by a new regulation. ### (3) whereas its general objective is still valid and should be retained , regulation (ec) no 1920/2006 as such no longer fits for addressing the current and future drug challenges. therefore , the mandate of the european monitoring centre for drugs and drug addiction should be revised , including its replacement , strengthening and renaming into “european union drugs agency” (‘the agency’). since substantial amendments to regulation (ec) no 1920/2006 are needed to accommodate the common approach for union decentralised agencies48to reflect the balanced , evidence-based , integrated and multidisciplinary approach enshrined in the union strategies on drugs and to take account of the developments of the drug phenomenon , in the interest of clarity and efficiency that regulation should be replaced by a new regulation.


### (4) the main focus of regulation (ec) no 1920/2006 was on health-related issues. however , addressing also drug markets and drug supply issues , is necessary to understand the impacts of the drug phenomenon on public health , reduce the availability of drugs in the union and curb drug demand. health- and supply-related issues are intrinsically linked. the agency should therefore address the drug phenomenon more holistically. ### (4) the main focus of regulation (ec) no 1920/2006 was on health-related issues. however , addressing also drug markets and drug supply issues , is necessary to understand the impacts of the drug phenomenon by applying a multidisciplinary approach incorporating a human rights , gender equality , public health , health equity , and social perspective in relation to drugs , drug use , drug use disorders and addictions , prevention , treatment , care , risk and harm reduction , abstinence-based recovery , rehabilitation , social reintegration , drug supply , including illicit production and trafficking , and other relevant drug-related issues and their consequences.


### (5) the work of the agency should be carried out with due regard to the respective powers of the union and its member states in the area of drugs. it should cover the various facets of the drugs phenomenon and the solutions applied. in doing so , the agency should be guided by relevant strategies and action plans adopted by the union , in particular the applicable eu drugs strategy and action plan. ### (5) the work of the agency should be carried out with due regard to the respective powers of the union and its member states in the area of drugs. it should cover the various facets of the drugs phenomenon and the solutions applied. in doing so , the agency should be guided by and reflect the balanced , evidence-based , integrated and multidisciplinary approach enshrined in the relevant strategies and action plans adopted by the union , in particular the applicable eu drugs strategy and action plan.


### (6) in pursuing its activities , the agency should cooperate with other union agencies and bodies , in particular the european union agency for law enforcement cooperation (europol) , the european union agency for law enforcement training (cepol) , the european union agency for criminal justice cooperation (eurojust) , the european medicines agency (ema) , the european centre for disease prevention and control (ecdc) , and the european education and culture executive agency (eacea) , and should take account of their activities in order to avoid duplication. cooperation should also take place on an international level with relevant authorities and bodies in third countries and on the united nations level. ### (6) in pursuing its activities , the agency should cooperate with other relevant union bodies , offices and agencies within their mandates , such as the european union agency for law enforcement cooperation (europol) , the european union agency for law enforcement training (cepol) , the european union agency for criminal justice cooperation (eurojust) , the european medicines agency (ema) , the european centre for disease prevention and control (ecdc) , and the european education and culture executive agency (eacea) , and other international bodies , offices and agencies , in particular ecosoc and the un narcotics board , and should take account of their activities in order to avoid duplication. cooperation should also take place on an international level with relevant authorities and bodies in third countries and on the united nations level.


### (3) environmentally sustainable bonds are one of the main instruments for financing investments related to low-carbon technologies , energy and resource efficiency as well as sustainable transport infrastructure and research infrastructure. financial or non-financial undertakings or sovereigns can issue such bonds. various existing initiatives for environmentally sustainable bonds do not ensure common definitions of environmentally sustainable economic activities. this prevents investors from easily identifying bonds the proceeds of which are aligned with , or are contributing to environmental objectives as laid down in the paris agreement. ### (3) environmentally sustainable bonds are one of the main instruments for financing investments related to low-carbon technologies , energy and resource efficiency as well as sustainable transport infrastructure and research infrastructure. financial or non-financial undertakings or sovereigns can issue such bonds. various existing initiatives for environmentally sustainable bonds do not ensure common definitions of environmentally and socially sustainable economic activities. this prevents investors from easily identifying bonds the proceeds of which are aligned with , or are contributing to environmental objectives as laid down in the paris agreement.


### (5) in ensuring alignment with the objectives of the paris agreement , and given the existing divergences and absence of common rules , it is likely that member states will adopt diverging measures and approaches , which will have a direct negative impact on , and create obstacles to , the proper functioning of the internal market , and be detrimental to issuers of environmentally sustainable bonds. the parallel development of market practices based on commercially driven priorities that produce divergent results causes market fragmentation and risks further exacerbating inefficiencies in the functioning of the internal market. divergent standards and market practices make it difficult to compare different bonds , create uneven market conditions for issuers , cause additional barriers within the internal market , and risk distorting investment decisions. ### (5) in ensuring alignment with the objectives of the paris agreement , so as to ensure that business practices are compatible with the transition to a sustainable economy and limiting global warming to 1 ,5° c , and given the existing divergences and absence of common rules , it is likely that member states will adopt diverging measures and approaches , which will have a direct negative impact on , and create obstacles to , the proper functioning of the internal market , and be detrimental to issuers of environmentally sustainable bonds. the parallel development of market practices based on commercially driven priorities that produce divergent results causes market fragmentation and risks further exacerbating inefficiencies in the functioning of the internal market. divergent standards and market practices make it difficult to compare different bonds , create uneven market conditions for issuers , cause additional barriers within the internal market , and risk distorting investment decisions.


### (5) in ensuring alignment with the objectives of the paris agreement and given the existing divergences and absence of common rules , it is likely that member states will adopt diverging measures and approaches , which will have a direct negative impact on , and create obstacles to , the proper functioning of the internal market , and be detrimental to issuers of environmentally sustainable bonds. the parallel development of market practices based on commercially driven priorities that produce divergent results causes market fragmentation and risks further exacerbating inefficiencies in the functioning of the internal market. divergent standards and market practices make it difficult to compare different bonds , create uneven market conditions for issuers , cause additional barriers within the internal market , and risk distorting investment decisions. ### (5) in ensuring alignment with the objectives of the paris agreement , so as to ensure that business practices are compatible with the transition to a sustainable economy and limiting global warming to 1.5°c and given the existing divergences and absence of common rules , it is likely that member states will adopt diverging measures and approaches , which will have a direct negative impact on , and create obstacles to , the proper functioning of the internal market , and be detrimental to issuers of environmentally sustainable bonds. the parallel development of market practices based on commercially driven priorities that produce divergent results causes market fragmentation and risks further exacerbating inefficiencies in the functioning of the internal market. divergent standards and market practices make it difficult to compare different bonds , create uneven market conditions for issuers , cause additional barriers within the internal market , and risk distorting investment decisions.


### (6) the lack of harmonised rules for the procedures used by external reviewers to review environmentally sustainable bonds and the diverging definitions of environmentally sustainable activities make it increasingly difficult for investors to effectively compare bonds across the internal market with respect to their environmental objectives. the market for environmentally sustainable bonds is inherently international , with market participants trading bonds and making use of external review services from third party providers across borders. action at union level could reduce the risk of fragmentation of the internal market for environmentally sustainable bonds and bond-related external review services , and ensure the application of regulation (eu) 2020/852 of the european parliament and of the council34 in the market for such bonds. ### (6) the lack of harmonised rules for the procedures used by external reviewers to review environmentally sustainable bonds and the diverging definitions of environmentally sustainable activities make it increasingly difficult for investors to effectively compare bonds across the internal market with respect to their environmental objectives. the market for environmentally sustainable bonds is inherently international , with market participants trading bonds and making use of external review services from third party providers across borders. action at union level could reduce the risk of fragmentation of the internal market for environmentally sustainable bonds and bond-related external review services , and ensure the application of regulation (eu) 2020/852 of the european parliament and of the council34 in the market for such bonds. the designation ‘european green bond’ or ‘eugb’ should progressively become mandatory for issuers of bonds marketed as environmentally sustainable , after an initial period of three years , following a review of this regulation..


### (6) the lack of harmonised rules for the procedures used by external reviewers to review environmentally sustainable bonds and the diverging definitions of environmentally sustainable activities make it increasingly difficult for investors to effectively compare bonds across the internal market with respect to their environmental objectives. the market for environmentally sustainable bonds is inherently international , with market participants trading bonds and making use of external review services from third party providers across borders. action at union level could reduce the risk of fragmentation of the internal market for environmentally sustainable bonds and bond-related external review services , and ensure the application of regulation (eu) 2020/852 of the european parliament and of the council34 in the market for such bonds. ### (6) the lack of harmonised rules for the procedures used by external reviewers to review environmentally sustainable bonds and the diverging definitions of environmentally sustainable activities make it increasingly difficult for investors to effectively compare bonds across the internal market with respect to their environmental objectives and can lead to cases of greenwashing. the market for environmentally sustainable bonds is inherently international , with market participants trading bonds and making use of external review services from third party providers across borders. action at union level could reduce the risk of fragmentation of the internal market for environmentally sustainable bonds and bond-related external review services , and ensure the application of regulation (eu) 2020/852 of the european parliament and of the council34 in the market for such bonds.


### (6) the lack of harmonised rules for the procedures used by external reviewers to review environmentally sustainable bonds and the diverging definitions of environmentally sustainable activities make it increasingly difficult for investors to effectively compare bonds across the internal market with respect to their environmental objectives. the market for environmentally sustainable bonds is inherently international , with market participants trading bonds and making use of external review services from third party providers across borders. action at union level could reduce the risk of fragmentation of the internal market for environmentally sustainable bonds and bond-related external review services , and ensure the application of regulation (eu) 2020/852 of the european parliament and of the council34 in the market for such bonds. ### (6) the lack of harmonised rules for the procedures used by external reviewers to review environmentally sustainable bonds and the diverging definitions of environmentally sustainable activities make it increasingly difficult for investors to effectively compare bonds across the internal market with respect to their environmental objectives and may lead to cases of greenwashing. the market for environmentally sustainable bonds is inherently international , with market participants trading bonds and making use of external review services from third party providers across borders , including those from third countries. action at union level could reduce the risk of fragmentation of the internal market for environmentally sustainable bonds and bond-related external review services , and ensure the application of regulation (eu) 2020/852 of the european parliament and of the council34 in the market for such bonds.


### (7) a uniform set of specific requirements should therefore be laid down for bonds issued by financial or non-financial undertakings or sovereigns that voluntarily wish to use the designation ‘european green bond’ or ‘eugb’ for such bonds. specifying quality requirements for european green bonds in the form of a regulation should ensure that there are uniform conditions for the issuance of such bonds by preventing diverging national requirements that could result from a transposition of a directive , and should also ensure that those conditions are directly applicable to issuers of such bonds. issuers that voluntarily use the designation ‘european green bond’ or ‘eugb’ should follow the same rules across the union , to increase market efficiency by reducing discrepancies and thereby also reducing the costs of assessing those bonds for investors. ### (7) a uniform set of specific requirements should therefore be laid down for bonds issued by financial or non-financial undertakings or sovereigns that wish to use the labels ‘green’ and ‘environmentally sustainable’ , including the designation ‘european green bond’ or ‘eugb’ for those bonds. specifying quality requirements for european green bonds in the form of a regulation should ensure that there are uniform conditions for the issuance of such bonds by preventing diverging national requirements that could result from a transposition of a directive , and should also ensure that those conditions are directly applicable to issuers of such bonds. issuers that use the designation ‘european green bond’ or ‘eugb’ should follow the same rules across the union , to increase market efficiency by reducing discrepancies and thereby also reducing the costs of assessing those bonds for investors. the designation ‘european green bond’ or ‘eugb’ should over time become mandatory for issuers of bonds marketed as environmentally sustainable , after an initial period of three years , following a review of this regulation. during the period in which the european green bond standard remains voluntary , bonds issued in the union and marketed as environmentally sustainable without the designation ‘european green bond’ or ‘eugb’ should also disclose their alignment with the requirements set out in regulation (eu) 2020/852.


### (7) a uniform set of specific requirements should therefore be laid down for bonds issued by financial or non-financial undertakings or sovereigns that voluntarily wish to use the designation ‘european green bond’ or ‘eugb’ for such bonds. specifying quality requirements for european green bonds in the form of a regulation should ensure that there are uniform conditions for the issuance of such bonds by preventing diverging national requirements that could result from a transposition of a directive , and should also ensure that those conditions are directly applicable to issuers of such bonds. issuers that voluntarily use the designation ‘european green bond’ or ‘eugb’ should follow the same rules across the union , to increase market efficiency by reducing discrepancies and thereby also reducing the costs of assessing those bonds for investors. ### (7) a set of harmonized requirements should therefore be laid down for bonds issued by financial or non-financial undertakings or sovereigns that wish to the label ‘green’ and ‘environmentally sustainable’ , including use the designation ‘european green bond’ or ‘eugb’ for such bonds. specifying quality requirements for european green bonds in the form of a regulation should ensure that there are uniform conditions for the issuance of such bonds by preventing diverging national requirements that could result from a transposition of a directive , and should also ensure that those conditions are directly applicable to issuers of such bonds. issuers that voluntarily use the designation ‘european green bond’ or ‘eugb’ should follow the same rules based on the requirements for environmentally sustainable economic activities as outlined in article 3 of regulation (eu) 2020/852 regarding taxonomy across the union , to increase market efficiency by reducing discrepancies and thereby also reducing the costs of assessing those bonds for investors. the designation ‘european green bond’ or ‘eugb’ should progressively become mandatory for issuers of bonds marketed as environmentally sustainable , after an initial period of three years , following a review of this regulation.. during the period in which the european green bond standard remains voluntary , bonds issued in the union and marketed as environmentally sustainable without the designation ‘european green bond’ or ‘eugb’ should also disclose their alignment with the requirements set out in regulation (eu) 2020/852.


### (8) in accordance with article 4 of regulation (eu) 2020/852 , and in order to provide investors with clear , quantitative , detailed and common definitions , the requirements set out in article 3 of that regulation should be used to determine whether an economic activity qualifies as environmentally sustainable. proceeds of bonds that use the designation ‘european green bond’ or ‘eugb’ should exclusively be used to fund economic activities that either are environmentally sustainable and are thus aligned with the environmental objectives set out in article 9 of regulation (eu) 2020/852 , or contribute to the transformation of activities to become environmentally sustainable. those bonds can however be used both to finance such environmentally sustainable activities directly through the financing of assets and expenditures that relate to economic activities that meet the requirements set out in article 3 of regulation (eu) 2020/852 , or indirectly through financial assets that finance economic activities that meet those requirements. it is therefore necessary to specify the categories of expenditures and assets that can be financed with the proceeds of bonds that use the designation ‘european green bond’ or ‘eugb’. ### (8) in accordance with article 4 of regulation (eu) 2020/852 , and in order to provide investors with clear , quantitative , detailed and common definitions , the requirements set out in article 3 of that regulation should be used to determine whether an economic activity qualifies as environmentally sustainable. for the purposes of this regulation , economic activities relating to nuclear energy and natural gas should not qualify as environmentally sustainable. proceeds of bonds that use the designation ‘european green bond’ or ‘eugb’ should exclusively be used to fund economic activities that either are environmentally sustainable and are thus aligned with the environmental objectives set out in article 9 of regulation (eu) 2020/852 , or contribute to the transformation of activities in order to align them with the requirements of article 3 of regulation (eu) 2020/852 and thus render them environmentally sustainable. those bonds can however be used both to finance such environmentally sustainable activities directly through the financing of assets and expenditures that relate to economic activities that meet the requirements set out in article 3 of regulation (eu) 2020/852 , or indirectly through financial assets that finance economic activities that meet those requirements. it is therefore necessary to specify the categories of expenditures and assets that can be financed with the proceeds of bonds that use the designation ‘european green bond’ or ‘eugb’.


### (8) in accordance with article 4 of regulation (eu) 2020/852 , and in order to provide investors with clear , quantitative , detailed and common definitions , the requirements set out in article 3 of that regulation should be used to determine whether an economic activity qualifies as environmentally sustainable. proceeds of bonds that use the designation ‘european green bond’ or ‘eugb’ should exclusively be used to fund economic activities that either are environmentally sustainable and are thus aligned with the environmental objectives set out in article 9 of regulation (eu) 2020/852 , or contribute to the transformation of activities to become environmentally sustainable. those bonds can however be used both to finance such environmentally sustainable activities directly through the financing of assets and expenditures that relate to economic activities that meet the requirements set out in article 3 of regulation (eu) 2020/852 , or indirectly through financial assets that finance economic activities that meet those requirements. it is therefore necessary to specify the categories of expenditures and assets that can be financed with the proceeds of bonds that use the designation ‘european green bond’ or ‘eugb’. ### (8) in accordance with article 4 of regulation (eu) 2020/852 , and in order to provide investors with clear , quantitative , detailed and common definitions , the requirements set out in article 3 of that regulation should be used to determine whether an economic activity qualifies as environmentally sustainable. proceeds of bonds that use the designation ‘european green bond’ or ‘eugb’ should be used to fund economic activities that either are environmentally sustainable and are thus aligned with the environmental objectives set out in article 9 of regulation (eu) 2020/852 , or contribute to the transformation of activities to become environmentally sustainable. for the purposes of this regulation , economic activities relating to nuclear energy and natural gas should not qualify as environmentally sustainable. those bonds can however be used both to finance such environmentally sustainable activities directly through the financing of assets and expenditures that relate to economic activities that meet the requirements set out in article 3 of regulation (eu) 2020/852 , or indirectly through financial assets that finance economic activities that meet those requirements. it is therefore necessary to specify the categories of expenditures and assets that can be financed with the proceeds of bonds that use the designation ‘european green bond’ or ‘eugb’.


### (10) sovereigns are frequent issuers of environmentally sustainable bonds and should therefore also be allowed to issue ‘european green bonds’ , provided that the proceeds of such bonds are used to finance either assets or expenditure that meet the taxonomy , or assets or expenditure that will meet those requirements within a reasonably short period from the issuance of the bond concerned , which can be extended however where duly justified by the specific features of the economic activities and investments concerned. ### (10) sovereigns are frequent issuers of environmentally sustainable bonds and should therefore also be allowed to issue ‘european green bonds’ , provided that the proceeds of such bonds are used to finance either assets or expenditure that meet the taxonomy , or assets or expenditure that will meet those requirements within a reasonably short period from the issuance of the bond concerned.


### (10) sovereigns are frequent issuers of environmentally sustainable bonds and should therefore also be allowed to issue ‘european green bonds’ , provided that the proceeds of such bonds are used to finance either assets or expenditure that meet the taxonomy , or assets or expenditure that will meet those requirements within a reasonably short period from the issuance of the bond concerned , which can be extended however where duly justified by the specific features of the economic activities and investments concerned. ### (10) sovereigns are frequent issuers of environmentally sustainable bonds and should therefore also be allowed to issue ‘european green bonds’ , provided that the proceeds of such bonds are used to finance either assets or expenditure that meet the taxonomy , or assets or expenditure that will meet those requirements within a reasonably short period from the issuance of the bond concerned. public investments that contribute to achieving the sustainable development goals should be exempted from the sgp deficit calculations.


### (12) the time needed to transform an asset to align the economic activity to which it relates with the taxonomy requirements should reasonably not exceed five years , except in certain circumstances where it may take up to ten years. for that reason , eligible capital expenditure should relate to economic activities that meet or will meet the taxonomy requirements within five years from the issuance of the bond , unless a longer period of up to ten years is justified by the specific features of the economic activities and investments concerned. ### (12) the time needed to transform an asset to fully align the economic activity to which it relates with the taxonomy requirements should reasonably not exceed five years , except in certain circumstances where it may take up to seven years. for that reason , eligible capital expenditure should relate to economic activities that meet or will meet the taxonomy requirements within five years from the issuance of the bond , unless a longer period of up to seven years is justified by the specific features of the economic activities and investments concerned.


### (12) the time needed to transform an asset to align the economic activity to which it relates with the taxonomy requirements should reasonably not exceed five years , except in certain circumstances where it may take up to ten years. for that reason , eligible capital expenditure should relate to economic activities that meet or will meet the taxonomy requirements within five years from the issuance of the bond , unless a longer period of up to ten years is justified by the specific features of the economic activities and investments concerned. ### (12) the time needed to transform an asset to align the economic activity to which it relates with the taxonomy requirements should reasonably not exceed five years. for that reason , eligible capital expenditure should relate to economic activities that meet or will meet the taxonomy requirements within five years from the issuance of the bond.


### (13) investors should be provided with all information necessary to evaluate the environmental impact of european green bonds , and to compare such bonds with each other. for that purpose , specific and standardised disclosure requirements need to be set out which provide transparency about how the issuer intends to allocate the bond proceeds to eligible fixed assets , expenditures and financial assets and how those proceeds have actually been allocated. such transparency can best be achieved by means of european green bond factsheets and annual allocation reports. to strengthen the comparability of european green bonds and to facilitate the localisation of relevant information , it is necessary to lay down templates for the disclosure of such information. ### (13) investors should be provided with all information necessary to evaluate the environmental impact of all bonds marketed as green or environmentally sustainable , including european green bonds , and to compare such bonds with each other. for that purpose , specific and standardised disclosure requirements need to be set out which provide transparency about how the issuer intends to allocate the bond proceeds to eligible fixed assets , expenditures and financial assets and how those proceeds have actually been allocated. such transparency can best be achieved by means of european green bond factsheets and annual allocation reports. to strengthen the comparability of european green bonds and to facilitate the localisation of relevant information , it is necessary to lay down templates for the disclosure of such information.


### (15) issuers of european green bonds should abide by their commitments to investors and allocate the proceeds of their bonds within a reasonably short time after issuance. at the same time , issuers should not be penalised for allocating bond proceeds to economic activities that do not yet meet the taxonomy requirements , but will do so within the five year period (or extended ten year period). issuers should in any case allocate all proceeds of their european green bonds before the maturity of each bond. ### (15) issuers of european green bonds should abide by their commitments to investors and allocate the proceeds of their bonds within a reasonably short time after issuance. at the same time , issuers should not be penalised for allocating bond proceeds to economic activities that do not yet meet the taxonomy requirements , but will do so within the five year period (or extended seven year period). issuers should in any case allocate all proceeds of their european green bonds before the maturity of each bond.


### (16) unlike issuers that are financial or non-financial undertakings , issuers that are sovereigns can use the proceeds of european green bonds to indirectly finance economic activities that are aligned with the taxonomy requirements through the use of programmes of tax expenditures or programmes of transfers , including subsidies. in such cases , sovereigns ensure that economic activities funded by such programmes comply with the terms and conditions of those programmes. for that reason , when providing pre- and post-issuance reviews of european green bonds issued by sovereigns and the proceeds of which are allocated to tax expenditures or subsidies in accordance with terms and conditions that are aligned with taxonomy requirements , external reviewers should not be required to assess the taxonomy-alignment of each economic activity funded by such programmes. where that is the case , it should be sufficient for external reviewers to assess the alignment of the terms and conditions of the funding programmes concerned with the taxonomy requirements. ### (16) unlike issuers that are financial or non-financial undertakings , issuers that are sovereigns can use the proceeds of european green bonds to indirectly finance economic activities that are fully aligned with the taxonomy requirements through the use of programmes of tax expenditures or programmes of transfers , including subsidies. in such cases , sovereigns ensure that economic activities funded by such programmes comply with the terms and conditions of those programmes. for that reason , when providing pre- and post-issuance reviews of european green bonds issued by sovereigns and the proceeds of which are allocated to tax expenditures or subsidies in accordance with terms and conditions that are aligned with taxonomy requirements , external reviewers should not be required to assess the taxonomy-alignment of each economic activity funded by such programmes. where that is the case , it should be sufficient for external reviewers to assess the alignment of the terms and conditions of the funding programmes concerned with the taxonomy requirements.


### (18) to improve transparency , issuers should also disclose the environmental impact of their bonds by means of the publication of impact reports , which should be published at least once during the lifetime of the bond. in order to provide investors with all information relevant to assess the environmental impact of european green bonds , impact reports should clearly specify the metrics , methodologies and assumptions applied in the assessment of the environmental impacts. to strengthen the comparability of european green bonds and to facilitate the localisation of relevant information , it is necessary to lay down templates for the disclosure of such information. ### (18) to improve transparency , issuers should also disclose the environmental impact of their bonds by means of the publication of impact reports , which should be published at least once during the lifetime of the bond. in order to provide investors with all information relevant to assess the social and environmental impact of european green bonds , impact reports should clearly specify the metrics , methodologies and assumptions applied in the assessment of the environmental impacts. to strengthen the comparability of european green bonds and to facilitate the localisation of relevant information , it is necessary to lay down templates for the disclosure of such information.


### (37) the objectives of this regulation are twofold. on the one hand , it aims to ensure that uniform requirements apply to the use of the designation of ‘european green bond’ or ‘eugb’. on the other hand , it aims to establish a simple registration system and supervisory framework for external reviewers by entrusting a single supervisory authority with the registration and supervision of external reviewers in the union. both aims should facilitate capital raising for projects that pursue environmentally sustainable objectives. since those objectives cannot be sufficiently achieved by the member states but can be better achieved at union level , the union may adopt measures in accordance with the principle of subsidiarity as set out in article 5 of the treaty on european union. in accordance with the principle of proportionality , as set out in that article , this regulation does not go beyond what is necessary in order to achieve those objectives , ### (37) the objectives of this regulation are twofold. on the one hand , it aims to ensure that uniform , transparency requirements apply to the use of the designation of ‘european green bond’ or ‘eugb’. on the other hand , it aims to establish a simple registration system and supervisory framework for external reviewers by entrusting a single supervisory authority with the registration and supervision of external reviewers in the union. both aims should facilitate capital raising for projects that pursue environmentally sustainable objectives. since those objectives cannot be sufficiently achieved by the member states but can be better achieved at union level , the union may adopt measures in accordance with the principle of subsidiarity as set out in article 5 of the treaty on european union. in accordance with the principle of proportionality , as set out in that article , this regulation does not go beyond what is necessary in order to achieve those objectives ,


### this regulation lays down uniform requirements for issuers of bonds that wish to use the designation ‘european green bond’ or ‘eugb’ for their environmentally sustainable bonds made available to investors in the union , and establishes a registration system and supervisory framework for external reviewers of european green bonds. ### this regulation lays down uniform requirements for issuers of bonds marketed as green or environmentally sustainable and for issuers that wish to use the designation ‘european green bond’ or ‘eugb’ for their environmentally sustainable bonds made available to investors in the union , and establishes a registration system and supervisory framework for external reviewers of european green bonds.


### a company of private law fully owned by one or more of the entities referred to in points (a) to (e); ### deleted


### 1. the use of proceeds referred to in article 4 shall relate to economic activities that meet the taxonomy requirements , or that will meet the taxonomy requirements within a defined period of time as set out in a taxonomy-alignment plan. ### 1. the use of proceeds referred to in article 4 shall relate to economic activities that fully meet the taxonomy requirements , or that will fully meet the taxonomy requirements within a defined period of time as set out in a taxonomy-alignment plan.


### the use of proceeds referred to in article 4 shall relate to economic activities that meet the taxonomy requirements , or that will meet the taxonomy requirements within a defined period of time as set out in a taxonomy-alignment plan. ### the use of proceeds referred to in article 4 shall be allocated to economic activities that meet the taxonomy requirements , or that will meet the taxonomy requirements within a defined period of time as set out in a taxonomy-alignment plan.


### the period referred to in the first and second subparagraph shall not exceed five years from bond issuance , unless a longer period of up to ten years is justified by the specific features of the economic activities concerned as documented in a taxonomy-alignment plan. ### the period referred to in the first and second subparagraph shall not exceed five years from bond issuance , unless a longer period of up to seven years is justified by the specific features of the economic activities concerned as documented in a taxonomy-alignment plan.


### the period referred to in the first and second subparagraph shall not exceed five years from bond issuance , unless a longer period of up to ten years is justified by the specific features of the economic activities concerned as documented in a taxonomy-alignment plan. ### the period referred to in the first and second subparagraph shall not exceed five years from bond issuance.


### 1. issuers of european green bonds shall , after the full allocation of the proceeds of such bonds and at least once during the lifetime of the bond , draw up a european green bond impact report on the environmental impact of the use of the bond proceeds by using the template laid down in annex iii. ### 1. issuers of european green bonds shall , after the full allocation of the proceeds of such bonds and at least every five years during the lifetime of the bond , draw up a european green bond impact report on the environmental impact of the use of the bond proceeds by using the template laid down in annex iii.


### (9) the proceeds of european green bonds should be used to finance economic activities that have a lasting positive impact on the environment. such lasting positive impact can be attained in several ways. since fixed assets are long-term assets , a first way is to use the proceeds of such european green bonds to finance fixed tangible or fixed intangible assets that are not financial assets , provided that those fixed assets relate to economic activities that meet the requirements for environmentally sustainable economic activities set out in article 3 of regulation (eu) 2020/852 (‘taxonomy requirements’). since financial assets can be used to finance economic activities with a lasting positive impact on the environment , a second way is to use those proceeds to finance financial assets , provided that the proceeds from those financial assets are allocated to economic activities that meet the taxonomy requirements. since the assets of households can also have a long-term positive impact on the environment , those financial assets should also include the assets of households. since capital expenditure and selected operating expenditure can be used to acquire , upgrade , or maintain fixed assets , a third way is to use the proceeds of such bonds to finance capital and operating expenditures that relate to economic activities that meet the taxonomy requirements or that will meet those requirements within a reasonably short period from the issuance of the bond concerned , which can be extended however where duly justified by the specific features of the economic activities and investments concerned. for the reasons outlined above , the capital and operating expenditures should also include the expenditures of households. ### (9) the proceeds of european green bonds should be used to finance economic activities that have a lasting positive impact on the environment. such lasting positive impact can be attained in several ways. since fixed assets are long-term assets , a first way is to use the proceeds of such european green bonds to finance fixed tangible or fixed intangible assets that are not financial assets , provided that those fixed assets relate to economic activities that meet the requirements for environmentally sustainable economic activities set out in article 3 of regulation (eu) 2020/852 (‘taxonomy requirements’) and the minimum social safeguards. since financial assets can be used to finance economic activities with a lasting positive impact on the environment , a second way is to use those proceeds to finance financial assets , provided that the proceeds from those financial assets are allocated to economic activities that meet the taxonomy requirements. since the assets of households can also have a long-term positive impact on the environment , those financial assets should also include the assets of households. since capital expenditure and selected operating expenditure can be used to acquire , upgrade , or maintain fixed assets , a third way is to use the proceeds of such bonds to finance capital and operating expenditures that relate to economic activities that meet the taxonomy requirements or that will meet those requirements within a reasonably short period from the issuance of the bond concerned. for the reasons outlined above , the capital and operating expenditures should also include the expenditures of households.


### (9) the proceeds of european green bonds should be used to finance economic activities that have a lasting positive impact on the environment. such lasting positive impact can be attained in several ways. since fixed assets are long-term assets , a first way is to use the proceeds of such european green bonds to finance fixed tangible or fixed intangible assets that are not financial assets , provided that those fixed assets relate to economic activities that meet the requirements for environmentally sustainable economic activities set out in article 3 of regulation (eu) 2020/852 (‘taxonomy requirements’). since financial assets can be used to finance economic activities with a lasting positive impact on the environment , a second way is to use those proceeds to finance financial assets , provided that the proceeds from those financial assets are allocated to economic activities that meet the taxonomy requirements. since the assets of households can also have a long term positive impact on the environment , those financial assets should also include the assets of households. since capital expenditure and selected operating expenditure can be used to acquire , upgrade , or maintain fixed assets , a third way is to use the proceeds of such bonds to finance capital and operating expenditures that relate to economic activities that meet the taxonomy requirements or that will meet those requirements within a reasonably short period from the issuance of the bond concerned , which can be extended however where duly justified by the specific features of the economic activities and investments concerned. for the reasons outlined above , the capital and operating expenditures should also include the expenditures of households. ### (9) the proceeds of european green bonds should be used to finance economic activities that have a lasting positive impact on the environment. such lasting positive impact can be attained in several ways. since fixed assets are long-term assets , a first way is to use the proceeds of such european green bonds to finance fixed tangible or fixed intangible assets that are not financial assets , provided that those fixed assets relate to economic activities that meet the requirements for environmentally sustainable economic activities set out in article 3 of regulation (eu) 2020/852 (‘taxonomy requirements’) and the social minimum safeguards. since financial assets can be used to finance economic activities with a lasting positive impact on the environment , a second way is to use those proceeds to finance financial assets , provided that the proceeds from those financial assets are allocated to economic activities that meet the taxonomy requirements. since the assets of households can also have a long-term positive impact on the environment , those financial assets should also include the assets of households. since capital expenditure and selected operating expenditure can be used to acquire , upgrade , or maintain fixed assets , a third way is to use the proceeds of such bonds to finance capital and operating expenditures that relate to economic activities that meet the taxonomy requirements or that will meet those requirements within a reasonably short period from the issuance of the bond concerned. for the reasons outlined above , the capital and operating expenditures should also include the expenditures of households.


### conditions for the use of the designation ‘european green bond’ or ‘eugb’ ### conditions for the use of the designation ‘european green bond’ or ‘eugb’ and for the use of other bonds marketed as green or environmentally sustainable


### to suspend an offer of european green bonds for a maximum of 10 consecutive working days on any single occasion where there are reasonable grounds for suspecting that articles 8 to 13 of this regulation have been infringed; ### to indefinitely suspend an offer of european green bonds marketed as green or environmentally sustainable , including where there are reasonable grounds for suspecting that articles 8 to 13 of this regulation have been infringed;


### to prohibit or suspend advertisements or require issuers of european green bonds or financial intermediaries concerned to cease or suspend advertisements for a maximum of 10 consecutive working days on any single occasion where there are reasonable grounds for believing that articles 8 to 13 of this regulation have been infringed; ### to prohibit or indefinitely suspend advertisements or require issuers of bonds marketed as green or environmentally sustainable , including european green bonds , or financial intermediaries concerned to cease or suspend advertisements where there are reasonable grounds for believing that articles 8 to 13 of this regulation have been infringed;


### 1. the authority may require selected obliged entities and natural or legal persons belonging to them , and third parties to whom the selected obliged entities have outsourced operational functions or activities and natural or legal persons affiliated to them , to provide all information that is necessary in order to carry out the tasks conferred on it by this regulation. ### 1. the jsts may require selected obliged entities and natural or legal persons belonging to them , and third parties to whom the selected obliged entities have outsourced operational functions or activities and natural or legal persons affiliated to them , to provide all information that is necessary in order to carry out the tasks conferred on it by this regulation.


### 3. where the authority obtains information directly from the natural or legal persons referred to in paragraph 1 , it shall make that information available to the financial supervisor concerned. ### 3. where the jst obtains information directly from the natural or legal persons referred to in paragraph 1 , it shall make that information available to the financial supervisor concerned.


### to that end , the authority may: ### to that end , the jsts may:


### 2. the persons referred to in article 16 shall be subject to investigations launched on the basis of a decision of the authority. when a person obstructs the conduct of the investigation , the financial supervisor of the member state where the relevant premises are located shall provide , in compliance with national law , the necessary assistance , including facilitating the access by the authority to the business premises of the legal persons referred to in article 16 , so that the rights listed in paragraph 1 of this article can be exercised. ### 2. the persons referred to in article 16 shall be subject to investigations launched on the basis of a decision of the authority. when a person obstructs the conduct of the investigation , the financial supervisor of the member state where the relevant premises are located shall provide , in compliance with national law , the necessary assistance , including facilitating the access by the jsts to the business premises of the legal persons referred to in article 16 , so that the rights listed in paragraph 1 of this article can be exercised.


### (8) in order to avoid imposing a disproportionate financial and administrative burden on union institutions , bodies and agencies , the cybersecurity risk management requirements should be proportionate to the risk presented by the network and information system concerned , taking into account the state of the art of such measures. each union institution , body and agency should aim to allocate an adequate percentage of its it budget to improve its level of cybersecurity; in the longer term a target in the order of 10% should be pursued. ### (8) in order to avoid imposing a disproportionate financial and administrative burden on union institutions , bodies and agencies , the cybersecurity risk management requirements should be proportionate to the risk presented by the network and information system concerned , taking into account the state of the art of such measures. each union institution , body and agency should aim to allocate an adequate percentage of its it budget to improve its level of cybersecurity; in the longer term a target in the order of 10% should be pursued , provided that the budget increase is essentially devoted to the employment of new qualified staff.


### (2) the cyber threat landscape faced by union institutions , bodies and agencies is in constant evolution. the tactics , techniques and procedures employed by threat actors are constantly evolving , while the prominent motives for such attacks change little , from stealing valuable undisclosed information to making money , manipulating public opinion or undermining digital infrastructure. the pace at which they conduct their cyberattacks keeps increasing , while their campaigns are increasingly sophisticated and automated , targeting exposed attack surfaces that keep expanding and quickly exploiting vulnerabilities. ### (2) the cyber threat landscape faced by union institutions , bodies , offices and agencies is in constant evolution. the tactics , techniques and procedures employed by threat actors are constantly evolving , while the prominent motives for such attacks change little , from stealing valuable undisclosed information to making money , manipulating public opinion or undermining digital infrastructure. the pace at which they conduct their cyberattacks keeps increasing , while their campaigns are increasingly sophisticated and automated , targeting exposed attack surfaces that keep expanding and quickly exploiting vulnerabilities.


### (23) the handling of information by cert-eu and the union institutions , bodies and agencies should be in line with the rules laid down in regulation [proposed regulation on information security]. to ensure coordination on security matters , any contacts with cert-eu initiated or sought by national security and intelligence services should be communicated to the commission’s security directorate and the chair of the iicb without undue delay. ### (23) the handling of information by cert-eu and the union institutions , bodies , offices and agencies should be in line with union rules on information security , in particular those laid down in regulation [proposed regulation on information security]. to ensure coordination on security matters , any contacts with cert-eu initiated or sought by national security and intelligence services should be communicated to the commission’s security directorate and the chair of the iicb without undue delay.


### 4. the handling of information by cert-eu and its union institutions , bodies and agencies shall be in line with the rules laid down in [proposed regulation on information security]. ### 4. the handling of information by cert-eu and its union institutions , bodies , offices and agencies shall be in line with union rules on information security , in particular those laid down in [proposed regulation on information security].


### 1. to enable cert-eu to coordinate vulnerability management and incident response , it may request union institutions , bodies and agencies to provide it with information from their respective it system inventories that is relevant for the cert-eu support. the requested institution , body or agency shall transmit the requested information , and any subsequent updates thereto , without undue delay. ### 1. to enable cert-eu to carry out its tasks as set out in article 12 , and in particular to coordinate vulnerability management and incident response , union institutions , bodies , offices and agencies will , upon cert-eu request , provide it with information from their respective nis inventories that is relevant for the cert-eu support. the requested institution , body or agency shall transmit the requested information , and any subsequent updates thereto , without undue delay.


### 3. cert-eu may only exchange incident-specific information which reveals the identity of the union institution , body or agency affected by the incident with the consent of that entity. cert-eu may only exchange incident-specific information which reveals the identity of the target of the cybersecurity incident with the consent of the entity affected by the incident. ### 3. cert-eu may only exchange incident-specific information which reveals the identity of the union institution , body or agency affected by the incident with the consent of that entity. cert-eu may only exchange incident-specific information which reveals the identity of the target of the cybersecurity incident with the consent of the entity affected by the incident. in view of its scrutiny tasks , the european parliament can request this information even without the consent of the institutions concerned.


### 4. the iicb shall issue guidance on incident response coordination and cooperation for significant incidents. where the criminal nature of an incident is suspected , cert-eu shall advise on how to report the incident to law enforcement authorities. ### 4. the iicb shall issue guidance on incident response coordination and cooperation for significant incidents. where the criminal nature of an incident is suspected , iicb or cert-eu shall advise on how to report the incident to law enforcement authorities.


### (19) cert-eu should also fulfil the role provided for it in directive [proposal nis 2] concerning cooperation and information exchange with the computer security incident response teams (csirts) network. moreover , in line with commission recommendation (eu) 2017/15844 , cert-eu should cooperate and coordinate on the response with the relevant stakeholders. in order to contribute to a high level of cybersecurity across the union , cert-eu should share incident specific information with national counterparts. cert-eu should also collaborate with other public as well as private counterparts , including at nato , subject to prior approval by the iicb. ### (19) cert-eu should also fulfil the role provided for it in directive [proposal nis 2] concerning cooperation and information exchange with the computer security incident response teams (csirts) network. moreover , in line with commission recommendation (eu) 2017/15844 , cert-eu should cooperate and coordinate on the response with the relevant stakeholders. in order to contribute to a high level of cybersecurity across the union , cert-eu should share incident specific information with national counterparts. cert-eu should also collaborate with other public as well as private counterparts , subject to prior approval by the iicb.


### 1. cert-eu may cooperate with non-member state counterparts including industry sector-specific counterparts on tools and methods , such as techniques , tactics , procedures and best practices , and on cyber threats and vulnerabilities. for all cooperation with such counterparts , including in frameworks where non-eu counterparts cooperate with national counterparts of member states , cert-eu shall seek prior approval from the iicb. ### 1. cert-eu may cooperate with public non-member state counterparts on tools and methods , such as techniques , tactics , procedures and best practices , and on cyber threats and vulnerabilities. for all cooperation with such counterparts , including in frameworks where non-eu counterparts cooperate with national counterparts of member states , cert-eu shall seek prior approval from the iicb.


### 2. cert-eu may cooperate with other partners , such as commercial entities , international organisations , non-european union national entities or individual experts , to gather information on general and specific cyber threats , vulnerabilities and possible countermeasures. for wider cooperation with such partners , cert-eu shall seek prior approval from the iicb. ### 2. cert-eu may cooperate with other partners , such as commercial entities (including industry sector-specific entities) , international organisations , non-european union national entities or individual experts , to gather information on general and specific cyber threats , vulnerabilities and possible countermeasures. for wider cooperation with such partners , cert-eu shall seek prior approval from the iicb.


### a. whereas the union has set up legislative and budgetary instruments to provide additional support to workers who are suffering from the consequences of globalisation and of technological and environmental changes , such as changes in world trade patterns , trade disputes , significant changes in the trade relations of the union or the composition of the internal market and financial or economic crises , as well as the transition to a low-carbon economy , or as a consequence of digitisation or automation; ### a. whereas the union has set up legislative and budgetary instruments to provide additional support to workers who are suffering from the consequences of globalisation and of technological and environmental changes , such as changes in world trade patterns , trade disputes , significant changes in the trade relations of the union or the composition of the internal market and financial or economic crises , as well as the transition to a carbon-neutral economy , or as a consequence of digitisation or automation;


### d. whereas the application relates to 206 displaced workers whose activity ceased in six companies4 during the reference period , and who will all be considered to be eligible beneficiaries; ### d. whereas the application relates to 206 displaced workers whose activity ceased in six companies4 during the reference period , and who will all be considered to be eligible beneficiaries; whereas 180 of the displaced workers are men (87 ,4 %) and 26 are women (12 ,6 %); whereas 26 of the displaced workers are under the age of 30 (12 ,6 %) , 137 are between 30 and 54 years old (66 ,5 %) and 43 are over the age of 54 (20 ,9 %); whereas 167 of the displaced workers have lower secondary education or less (81 ,1 %) , 6 have upper secondary or post-secondary education (2 ,9 %) and 33 have third-level education (16 ,0 %);


### f. whereas expenditure for new household appliances in greece was strongly impacted first by the economic crisis in the years from 2008 to 2016 (35 % decrease) and second by the covid-19 pandemic (50 % decrease between 2019 and 2020); ### f. whereas expenditure for new household appliances in greece was strongly impacted first by the economic crisis in the years from 2008 to 2016 (35 % decrease) and second by the covid-19 pandemic (50 % decrease between 2019 and 2020) , having recovered


### g. whereas in that context , the lack of competitiveness of the pitsos production plant and the decision to move its production to turkey (while the brand , sales and service department was retained in greece) led to the announcement of its closure in september 2017; whereas production was extended until the beginning of 2021 , and 166 workers were dismissed in 2021; ### g. whereas in that context , the loss of competitiveness of the pitsos production plant due to a combination of factors , such as a lack of automation and advanced manufacturing , the high production costs of electrical household appliances , a shortage in the domestic supply of electrical components , the bsh-pitsos management decision not to support the capital investments required to optimise the production facility of the plant and the decision to move production to turkey for lower production costs (while the brand , sales and service department was retained in greece) led to the announcement of the closure of the pitsos production plant in september 2017; whereas production was extended until the beginning of 2021 , and 166 workers were dismissed in 2021;


### 3. welcomes the measures undertaken by the french authorities , such as the provisions of the new emergency legislation1 , the support plan for the aeronautics industry and the long-term part-time activity programme2 which significantly reduced the number of redundancies; ### 3. takes note of the measures undertaken by the french authorities , such as the provisions of the new emergency legislation1 , the support plan for the aeronautics industry and the long-term part-time activity programme2 which significantly reduced the number of redundancies; regrets however any redundancy in a company that is largely profitable , without real compensation for employment and under the control of the sector;


### 12. reiterates that assistance from the egf must not replace actions which are the responsibility of companies , by virtue of national law or collective agreements; ### 12. reiterates that assistance from the egf must not replace actions which are the responsibility of companies , by virtue of national law or collective agreements; recalls that support measures must not be part of a disguised strategy of outsourcing;


### 1. stresses the key role of cohesion policy in fostering economic , social and territorial convergence across the eu; expresses concern , however , about persistent inequalities , socio-economic disparities and uneven demographic decline , with many less developed regions falling behind and getting caught in a ‘development trap’ in the wake of the covid-19 pandemic; ### 1. stresses the key role of cohesion policy in fostering economic , social and territorial convergence across the eu; expresses concern , however , about persistent inequalities , socio-economic disparities and uneven demographic decline , with many less developed regions falling behind and getting caught in a ‘development trap’ in the wake of the covid-19 pandemic; underlines that several middle-income and less developed regions , especially in the southern eu , have suffered from economic stagnation or decline , suggesting that they are in a development trap , also given that many were hit by the economic and financial crisis in 2008 and have struggled to recover since;


### 2. recalls that cohesion policy , with a budget of eur 392 billion between 2021 and 2027 , remains the eu’s primary investment tool and notes that its share of public investment in member states increased considerably over the 2014-2020 period; ### 2. recalls that cohesion policy , with a budget of eur 392 billion between 2021 and 2027 , remains the eu’s primary investment tool and notes that its share of public investment in member states increased considerably over the 2014-2020 period , given the contraction of national public investments due to the economic and financial crisis;


### — having regard to article 3 of the treaty on european union (teu) and articles 4 , 162 , 174 to 178 , and 349 of the treaty on the functioning of the european union (tfeu) , ### — having regard to article 3 of the treaty on european union (teu) ,


### 4. recalls that the social impacts of the redundancies are expected to be important for france , in particular in the region île-de-france , where 57 % of the displacements took place; notes that the french labour administration specified that air france’s restructuring affected the employment balance in the territories concerned; ### 4. recalls that the social impacts of the redundancies are expected to be important for france , in particular in the region île-de-france , where 57 % of the displacements took place; notes that the french labour administration specified that air france’s restructuring affected the employment balance in the territories concerned; regrets any redundancy in a company that is largely profitable;


### 2. strongly insists that efad must strengthen the strategic partnerships between the european union and its global development partners; reiterates that such partnerships should always be based on mutual respect and dignity , shared interests and values; ### 2. strongly insists that efad must strengthen the strategic partnerships between the european union and its global development partners; reiterates that such partnerships should always be based on mutual respect and dignity , shared interests and values; recalls the need to recognise and promote the multiple roles and contributions of civil society organisations; calls on the commission to involve civil society organisations and ngos , including local ones , in the drafting and implementation of the strategy at all phases of projects and programmes (planning , implementation , monitoring and evaluation);


### 4. emphasises the role of a collective , coherent eu approach , which could be effective in helping to foster the expansion of social protection systems in developing countries; ### 4. emphasises the role of a collective , coherent eu approach , which could be effective in helping to foster the expansion of social protection systems in developing countries; believes that the efad should contribute to eradicating poverty , in addressing social exclusion and inequality , promote gender equality , climate change mitigation and adaptation , fight against hunger and food sovereignty , and promote development policies that strengthen human development , contributing to the creation of quality public education and health systems , protecting the common goods of developing countries , such as water and natural resources;


### 10. demands that efad be consistent with future eu due diligence and corporate responsibility legislation and that it adhere to the highest standards of transparency and accountability; ### 10. demands that efad be consistent with future eu due diligence and corporate responsibility legislation and that it adhere to the highest standards of transparency and accountability; calls on the eib to improve its policies and practices and transparency , in particular by implementing recommendations formulated by the european ombudsman to “take several transparency steps to enable the public to more easily see the potential environmental impact of the projects it finances” , as set out in cases 1065/2020/pb , 1251/2020/pb , 1252/2020/pb.”


### 20. encourages the eib , the european bank for reconstruction and development and the european development banks and financial institutions to strengthen their cooperation; ### 20. 20. encourages the eib , the european bank for reconstruction and development and the european development banks and financial institutions to strengthen their cooperation; calls on the eib and ebrd to strengthen the due diligence on their operations in developing countries , ensure meaningful consultation of the local population , further develop their development expertise , focus on gender inequalities , ensure that all their operations promote and protect human , social and environmental rights and are accompanied by solid accountability mechanisms for impacted communities;


### 24. recognises the importance and potential of member state development banks within the efad structure; stresses the pressing need to boost private sector development in sub-saharan africa; ### 24. recognises the importance and potential of member state development banks within the efad structure; stresses the need to boost private and public sector development in sub-saharan africa; stresses the need for the efad to support developing countries to invest in public services such as public and free health and education systems , and in developing social protection systems;


### (4) a brexit adjustment reserve (the ‘reserve’) should be established to provide support to counter adverse consequences in member states , regions and sectors , in particular those that are worst affected by the withdrawal of the united kingdom from the union , and thus to mitigate the related impact on the economic , social and territorial cohesion. it should cover in whole or in part the additional public expenditure incurred by member states for measures specifically taken to mitigate those consequences. ### (4) a brexit adjustment reserve (the ‘reserve’) should be established to provide support to counter adverse consequences in member states , regions , sectors , workers and local communities , in particular those that are worst affected by the withdrawal of the united kingdom from the union , and thus to mitigate the related impact on the economic , social and territorial cohesion. it should cover in whole or in part the additional public expenditure incurred by member states for measures specifically taken to mitigate those consequences.


### (5) for the purposes of contributing to economic , social and territorial cohesion , it is appropriate that member states , when designing support measures , focus in particular on the regions , areas and local communities , including those dependent on fishing activities in the united kingdom waters , that are likely to be most negatively impacted by the withdrawal of the united kingdom. member states may have to take specific measures notably to support businesses and economic sectors adversely affected by the withdrawal. it is therefore appropriate to provide a non-exhaustive list of the type of measures that are most likely to achieve this objective. ### (5) for the purposes of contributing to economic , social and territorial cohesion , it is appropriate that member states , when designing support measures , focus in particular on the regions , areas , sectors , workers and local communities , including those dependent on fishing activities in the united kingdom waters and those dependent on tourism from the united kingdom , that are likely to be most negatively impacted by the withdrawal of the united kingdom. member states may have to take specific measures notably to support businesses , especially smes , workers and economic sectors adversely affected by the withdrawal. it is therefore appropriate to provide a non-exhaustive list of the type of measures that are most likely to achieve this objective.


### (6) at the same time , it is important to clearly specify any exclusions from support provided by the reserve. the reserve should exclude from support the value added tax as it constitutes a member state revenue , which offsets the related cost for the member state budget. in order to concentrate the use of limited resources in the most efficient way , technical assistance used by the bodies responsible for the implementation of the reserve should not be eligible for support from the reserve. in line with the general approach for cohesion policy , expenditure linked to relocations or contrary to any applicable union or national law should not be supported. ### (6) at the same time , it is important to clearly specify any exclusions from support provided by the reserve. the reserve should exclude from support the value added tax as it constitutes a member state revenue , which offsets the related cost for the member state budget. in line with the general approach for cohesion policy , expenditure linked to relocations or contrary to any applicable union or national law should not be supported.


### (7) in order to take into account the immediate impact of the adverse consequences of the withdrawal of the united kingdom from the union on the member states and their economies and the need to adopt mitigating measures , as appropriate , prior to the expiry of the transition period , the eligibility period for implementing such measures should start as from 1 july 2020 and be concentrated over a limited period of 30 months. ### (7) in order to take into account the immediate impact of the adverse consequences of the withdrawal of the united kingdom from the union on the member states and their economies and the need to adopt mitigating measures , as appropriate , prior to the expiry of the transition period , the eligibility period for implementing such measures should start as from 1 january 2020 and last until 31 december 2023.


### (1) ‘reference period’ means the reference period referred to in article 63(5) , point (a) , of the financial regulation , which shall be from 1 july 2020 to 31 december 2022; ### (1) ‘reference period’ means the reference period referred to in article 63(5) , point (a) , of the financial regulation , which shall be from 1 january 2020 to 31 december 2023;


### the reserve shall provide support to counter the adverse consequences of the withdrawal of the united kingdom from the union in member states , regions and sectors , in particular those that are worst affected by that withdrawal , and to mitigate the related impact on the economic , social and territorial cohesion. ### the reserve shall provide support to counter the adverse consequences of the withdrawal of the united kingdom from the union in member states , regions , local communities , sectors , businesses , especially smes , and workers , in particular those that are worst affected by that withdrawal , and to mitigate the related impact on the economic , social and territorial cohesion.


### measures to assist businesses and local communities adversely affected by the withdrawal; ### measures to assist businesses , especially smes , workers and local communities adversely affected by the withdrawal;


### measures to support the most affected economic sectors; ### measures to support the most affected economic sectors and their employees;


### measures to support businesses and local communities dependent on fishing activities in the united kingdom waters; ### measures to support businesses , especially smes , workers and local communities dependent on fishing activities in the united kingdom waters;


### measures to support employment , including through short-time work schemes , re-skilling and training in affected sectors; ### measures to support high-quality employment , including through re-skilling , up-skilling and training in affected sectors;


### measures to ensure the functioning of border , customs , sanitary and phytosanitary , security and fisheries controls , as well as the collection of indirect taxation including additional personnel and infrastructure; ### measures to ensure the functioning of border , customs , sanitary and phytosanitary , security and fisheries controls , as well as the collection of indirect taxation including additional personnel , training and infrastructure;


### measures for communication , information and awareness-raising of citizens and businesses about changes stemming from the withdrawal to their rights and obligations. ### measures for communication , information and awareness-raising of citizens , workers and businesses about changes stemming from the withdrawal to their rights and obligations and about measures that take or will take place to contribute to the objectives referred to in article 3 as well as about their eligibility criteria.


### 3. when designing support measures , member states shall take into account the varied impact of the withdrawal of the united kingdom from the union on different regions and local communities and focus support from the reserve on those most affected , as appropriate. ### 3. when designing support measures , member states shall take into account the varied impact of the withdrawal of the united kingdom from the union on different regions , businesses , workers and local communities and focus support from the reserve on those most affected , as appropriate. member states shall pay particular attention to smes given their significance for social and economic cohesion and their contribution to the eu economy.


### technical assistance for the management , monitoring , information and communication , complaint resolution , and control and auditing of the reserve; ### deleted


### 3. the commission shall pay the pre-financing within 60 days of the date of the adoption of the implementing act referred to in paragraph 2. it shall be cleared in accordance with article 11. ### 3. the commission shall pay the pre-financing within 30 days of the date of the adoption of the implementing act referred to in paragraph 2. it shall be cleared in accordance with article 11.


### 1. the member states shall submit an application to the commission for a financial contribution from the reserve by 30 september 2023. the commission shall assess this application and establish whether additional amounts are due to member states or any amounts should be recovered from the member states in accordance with article 11. ### 1. the member states shall submit an application to the commission for a financial contribution from the reserve by 30 september 2024. the commission shall assess this application and establish whether additional amounts are due to member states or any amounts should be recovered from the member states in accordance with article 11.


### 2. where a member state does not submit an application for a financial contribution from the reserve by 30 september 2023 , the commission shall recover the total amount paid as pre-financing to that member state. ### 2. where a member state does not submit an application for a financial contribution from the reserve by 30 september 2024 , the commission shall recover the total amount paid as pre-financing to that member state.


### a description of the impact of the withdrawal of the united kingdom from the union in economic and social terms including an identification of the regions , areas and sectors most affected; ### a description of the impact of the withdrawal of the united kingdom from the union in economic and social terms including an identification of the regions , areas , sectors and workers most affected;


### a description of the contribution of the measures to climate change mitigation and adaptation. ### a description of the contribution of the measures to the principles set out in the european pillar of social rights and to the union’s environmental targets in line with the objectives of the paris agreement and the un sustainable development goals.


### 5. the commission shall clear the respective pre-financing and pay any additional amount due within 60 days of adoption of the implementing act referred to in paragraph 2. ### 5. the commission shall clear the respective pre-financing and pay any additional amount due within 30 days of adoption of the implementing act referred to in paragraph 2.


### (3) on 11 march 2020 , the world health organization (who) declared the novel coronavirus covid-19 outbreak a global pandemic. from the challenges experienced in responding to the pandemic it became clear that the centre’s role in the union’s framework for health crisis preparedness and response should be strengthened. ### (3) on 11 march 2020 , the world health organization (who) declared the novel coronavirus covid-19 outbreak a global pandemic. from the challenges experienced in responding to the pandemic it became clear that the centre’s role in the union’s framework for health crisis preparedness and response should be strengthened to better use the potential of the union's and member states' capacities to respond to future pandemics.


### (7) to effectively support the work of the centre and ensure the fulfilment of its mission , member states should be tasked to communicate to the centre data on the surveillance of communicable diseases and other special health issues such as antimicrobial resistance and healthcare-associated infections related to communicable diseases , available scientific and technical data and information relevant to the centre’s mission , to notify the centre of any serious cross-border threats to health , information on preparedness and response planning and health system capacity , and provide relevant information that may be useful for coordinating the response , as well as identify recognised competent bodies and public health experts available to assist in union responses to health threats. ### (7) to effectively support the work of the centre and ensure the fulfilment of its mission , member states should be tasked to communicate in a timely manner to the centre complete data on the surveillance of communicable diseases and other special health issues such as antimicrobial resistance and healthcare-associated infections related to communicable diseases , available scientific and technical data and information relevant to the centre’s mission , to notify the centre of any serious cross-border threats to health , information on preparedness and response planning and health system capacity , and provide relevant information that may be useful for coordinating the response , as well as identify recognised competent bodies and public health experts available to assist in union responses to health threats.


### (10) to strengthen the capacity of the union and member states to assess the epidemiological situation and perform accurate risk assessment and response , the centre should in particular monitor and report on trends in communicable diseases , support and facilitate evidence-based response action , provide recommendations for improvement of communicable disease prevention and control programmes established at the national and union level , monitor and assess the capacity of national health systems for diagnosis , prevention and treatment of communicable diseases , including in a gender-sensitive way , identify population groups at risk requiring specific measures , analyse the correlation of disease incidence with societal and environmental factors , and identify risk factors for transmission and disease severity of communicable diseases , and identify research needs and priorities. the centre should work with nominated national focal points for surveillance , forming a network that strategically advises the centre on such matters and would promote the use of enabling sectors , such as eu space data and services. ### (10) to strengthen the capacity of the union and member states to assess the epidemiological situation and perform accurate risk assessment and response , the centre should in particular monitor and report on trends in communicable diseases , support and facilitate evidence-based response action , provide recommendations for improvement of communicable disease prevention and control programmes established at the national and union level , monitor and assess systematically the capacity of national health systems for diagnosis , prevention and treatment of communicable diseases , including in a gender-sensitive way , identify population groups at risk requiring specific measures , analyse the correlation of disease incidence with societal , climate and environmental factors , and identify risk factors for transmission and disease severity of communicable diseases , and identify research needs and priorities. the centre should work with the european climate and health observatory and with nominated national focal points for surveillance , forming a network that strategically advises the centre on such matters and would promote the use of enabling sectors , such as eu space data and services.


### (13) with the aim of reducing the occurrence of epidemics and strengthening capacities to prevent communicable diseases in the union , the centre should develop a framework for the prevention of communicable diseases , which addresses such issues as vaccine preventable diseases , antimicrobial resistance , health education , health literacy and behaviour change. ### (13) with the aim of reducing the occurrence of epidemics and strengthening resilience and capacities to prevent communicable diseases in the union , the centre should develop a framework for the prevention of communicable diseases , which addresses such issues as vaccine preventable diseases , antimicrobial resistance , health education , health literacy and behaviour change.


### in order to enhance the capacity of the union and the member states to protect human health through the prevention and control of communicable diseases in humans and those related special health issues set out in article 2 of regulation (eu) …/… [oj: please insert the number of regulation scbth [isc/2020/12524]] , the mission of the centre shall be to identify , assess and report on current and emerging threats to human health from communicable diseases , and provide recommendations for response at union and national levels , as well as at regional level , if necessary. ### in order to enhance the capacity of the union and the member states to protect human health , in the context of the one health approach , through the prevention and control of communicable diseases in humans and those related special health issues set out in article 2 of regulation (eu) …/… [oj: please insert the number of regulation scbth [isc/2020/12524]] , the mission of the centre shall be to identify , assess and report on current and emerging threats to human health from communicable diseases , and provide recommendations for response at union and national levels , as well as at regional level , if necessary.


### search for , collect , collate , evaluate and disseminate relevant scientific and technical data and information , considering the latest technologies; ### search for , collect , collate , evaluate and disseminate relevant scientific and technical data and information , using the latest technologies including artificial intelligence;


### support epidemic and outbreak response in member states , and in third countries , in complementarity with other union emergency response instruments , in particular the union civil protection mechanism; ### support epidemic and outbreak response in member states , and in third countries , in complementarity with other union emergency response instruments , in particular the union civil protection mechanism , by providing recommendations and common provisions on stockpiling of medical countermeasures;