WRITTEN QUESTION E-3795/03 by Chris Davies (ELDR) to the Commission. Meeting UN sustainable fishing targets.
Date: 2003-12-11
Institutions: European Parliament, Provisional data
Subjects: common fisheries policy, conservation of fish stocks, fishery management

27.3.2004

EN

Official Journal of the European Union

C 78 E/857

CESR proposed in its advice a general principle requiring that the national accounting standards to be used
by third country issuers in their prospectuses drafted under Union laws when presenting their financial
information should be ‘equivalent’ to Regulation (EC) No 1606/2002 (3) of the Parliament and of the
Council of 19 July 2002 on the application of international accounting standards.

As to the second question, regarding recognition of US GAAP (4), the situation is as follows. CESR
proposed a solution introducing a transitional period for the application of the general principle of
equivalence described above, which would allow internationally accepted accounting standards to be used
by third country issuers in their prospectuses when presenting their financial information. In its draft
implementing measures with respect to the Prospectus Directive (2003/71/EC), the Commission proposes
to follow CESR’s advice of a transitional period until 2007. The Commission will reflect in due course on
further detailed arrangements for the application of the general principle of equivalence.

(1) Directive 2003/71/EC of the Parliament and of the Council of 4 November 2003 on the prospectus to be published
when securities are offered to the public or admitted to trading and amending Directive 2001/34/EC (Text with EEA
relevance), OJ L 345, 31.12.2003.

(2) Directive 2001/34/EC of the Parliament and of the Council of 28 May 2001 on the admission of securities to

official stock exchange listing and on information to be published on those securities, OJ L 184, 6.7.2001.

(3) OJ L 243, 11.9.2002.
(4) Generally Accepted Accounting Principles in the United States.

(2004/C 78 E/0910)

WRITTEN QUESTION E-3795/03

by Chris Davies (ELDR) to the Commission

(11 December 2003)

Subject: Meeting UN sustainable fishing targets

Will the Commission outline its 12-year step-by-step strategy to ensure that by 2015, the date set by the
UN World Summit on Sustainable Development, all fishing activity within EU waters is taking place in a
sustainable manner?

Answer given by Mr Fischler on behalf of the Commission

(16 January 2004)

The Commission will make all efforts to observe the commitment made at the Johannesburg World
Summit on Sustainable Development to ‘Maintain or restore stocks to levels that can produce the
maximum sustainable yield with the aim of achieving these goals for depleted stocks on an urgent basis
and where possible not later than 2015’.

In order to achieve this objective, the Commission will make use of the legal instruments adopted during
the recent reform of the Common Fisheries Policy, and in particular the following:

(cid:1) the setting of recovery plans for stocks which are outside safe biological limits, in accordance with
Article 5 of Regulation (EC) No 2371/2002 (1). At present the Commission has made proposals for
recovery plans concerning five stocks of cod and one stock of hake, which have been recently adopted
by the Council, and has made proposals for hake and nephrops in the Iberian peninsula and for the
stocks of sole in the western Channel and in the Bay of Biscay. Other proposals may follow
afterwards;

(cid:1) the setting of management plans for maintaining and exploiting stocks within safe biological limits, in

accordance with Article 6 of the above-mentioned Regulation;

C 78 E/858

Official Journal of the European Union

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27.3.2004

(cid:1) the adoption, where required, of

the emergency measures foreseen in Article 7 of

the same

Regulation;

(cid:1) the adjustment of fishing capacity and the elimination of structural aid leading to its increase, as

foreseen in Chapter III of the same Regulation and in subsequent implementing legislation.

As a complement of the above-mentioned strategy, and with a view to improving the effectiveness of the
measures, the Commission also envisages:

(cid:1) an improvement of the scientific basis for management decisions, based on the Communication
‘Improving scientific and technical advice for Community fisheries management’ (2003/C 47/06);

(cid:1) an improvement of the participation of the relevant stakeholders in the decision-taking process,
through the setting of Regional Advisory Committees as indicated in Article 31 of Regulation (EC)
No 2371/2002 and the proposal for a Council Regulation establishing Regional Advisory Councils
under the Common Fisheries Policy (2);

(cid:1) an improvement of the enforcement of fisheries management measures in the lines indicated in the

Communication ‘Towards uniform and effective implementation of the Common Fisheries Policy’ (3).

As far as stocks outside Community waters are concerned, the Commission will contribute to attain
maximum sustainable conditions by developing the policy outlined in a number of recent policy
documents, and in particular in the Communication from the Commission on an integrated framework for
fisheries partnership agreements with third countries (4) and in the Communication ‘Community action
plan for the eradication of illegal, unreported and unregulated fishing’ (5).

(1) Council Regulation (EC) No 2371/2002 of 20 December 2002 on the conservation and sustainable exploitation of

fisheries resources under the Common Fisheries Policy, OJ L 359, 31.12.2002.

(2) COM(2003) 607 final.
(3) COM(2003) 130 final.
(4) COM(2002) 637 final.
(5) COM(2002) 180 final.

(2004/C 78 E/0911)

WRITTEN QUESTION E-3796/03

by Chris Davies (ELDR) to the Commission

(11 December 2003)

Subject: Maríne Stewardship Council

What support, financial or otherwise, does the Commission give to the Maríne Stewardship Council?

Answer given by Mr Fischler on behalf of the Commission

(23 January 2004)

The Maríne Stewardship Council (MSC) certification scheme is a private initiative which rewards certain
fishing practices with a distinctive label at the request of fishing operators so consumers can direct their
choices towards their products. The Commission has no legal instruments to give financial support to this
type of private initiative, although it is recognised that they might contribute to sustainable fisheries in
certain conditions. The Commission is currently in the process of drawing up a Communication which will
propose the principles and conditions under which certification schemes and eco-labels should operate in
the context of the Common Fisheries Policy.