EU Insight, 15 November 2019, Brussels

COMMISSIONER-DESIGNATES’ HEARINGS RESUME IN THE PARLIAMENT

Scrutiny hearings of Commissioners-designate resumed this week in the European Parliament, with the French (Thierry Breton), Romanian (Adina-Ioana Vălean) and Hungarian (Olivér Várhelyi) nominees facing MEPs’ questions. Whilst the former two succeeded in gathering support for the portfolios of Internal Market and Transport, respectively, the latter fell short of a majority and will therefore have to answer a further set of written questions to prove he is fit for the Enlargement portfolio. Meanwhile, the Commission launched an infringement procedure against the UK for failing to nominate a Commissioner, despite von der Leyen’s letters to Boris Johnson. It seems likely that the Parliament will approve the new Commission in late November so that it can take office 1 December.

EU BANK LAUNCHES NEW CLIMATE STRATEGY AND ENERGY LENDING POLICY

The European Investment Bank (EIB) agreed a new energy lending policy that sets an increased ambition in climate action and environmental sustainability. As a result, the EIB will stop financing fossil fuel energy projects, including gas, from the end of 2021. Under the new policy the EIB commits to: (i) support €1 trillion of investment in climate action by 2030; (ii) dedicate 50% of its financing operations to climate action by 2050; and (iii) align all of its financing activities with the principles of the Paris agreement by the end of 2020.

SIX EU COUNTRIES CALL FOR EUROPEAN SUPERVISORY MECHANISM ON MONEY LAUNDERING

Six Member States are pushing for the creation of a European anti-money laundering supervisory authority with powers to coordinate and supervise national authorities in the financial sector. The Finance Ministers of of France, Germany, Italy, the Netherlands, Spain and Latvia published a joint position paper calling for greater coordination and harmonisation in the field of the fight against money laundering. They also suggest that central aspects of the EU anti-money laundering Directive (AMLD) be transferred into a regulation to ensure that any supervisory function of an EU body has a sound and enforceable legal basis.

NEW TYRE LABELLING AGREED BY CO-LEGISLATORS

The European Parliament, Council and Commission reached a political agreement on rules to improve EU tyre labels. The new Regulation, which is part of the Clean mobility package, will enable consumers to make better choices and bring energy savings equivalent to taking 4 million cars off EU roads. As such, the tyre labels will be more visible, accurate and aligned with the EU energy label. After the formal approval by the European Parliament and Council, the new Regulation will apply from 1 May 2021.

EU CONTINUES TO PROTECT ITS INTERESTS GLOBALLY

The Council extended the restrictive measures against Venezuela for one year, until 14 November 2020, in light of the ongoing political and economic crisis. Apart from measures targeting 25 individuals, the sanctions also include an embargo on arms and equipment for internal repression. Closer to the EU’s borders, the Council adopted restrictive measures in response to Turkey’s unauthorised drilling of hydrocarbons in the Eastern Mediterranean. The measures include travel bans and freezing assets for entities and persons.

COMING UP NEXT WEEK:

• 18 November: Agriculture and Fisheries Council. On the agenda: Future of the CAP post 2020, regulations on CAP transitional rules.
• 19 November: European Economic Area Council. On the agenda: Functioning of the EEA agreement, the single market beyond 2019, adoption of conclusions on EEA cooperation.
• 19 November: General Affairs Council. On the agenda: MFF 2021-2027, European Council meeting on 12-13 December, enhancing respect for the rule of law in the EU
• 20-21 November: European Union Military Committee (EUMC).  On the agenda: EU’s military operations and missions, EU battlegroups, EU-NATO cooperation, Ukraine, digitalisation and artificial intelligence.
• 21 November: Foreign Affairs Council (Trade). On the agenda: WTO, EU-US trade relations, implementation of free trade agreements, trade relations with China.
• 21-22 November: Education, Youth, Culture and Sports Council.  On the agenda: cultural dimension of sustainable development, combating corruption in sport, digital youth work.

Karl Isaksson, Managing Partner Brussels, Kreab