Insights | EU Insight 17 June, 2022

22/06/2022

EU Insight 17 June, 2022

Brussels, 17 June 2022

 

COMMITTEES REJECT LABELLING NUCLEAR AND GAS AS SUSTAINABLE UNDER TAXONOMY

Members of the joint Economic and Monetary Affairs and Environment, Public Health and Food Safety Committees voted in favour of the objection to the Complementary Climate Delegated Act (CDA) under the Taxonomy Regulation. The CDA was put forward by the Commission in March and proposes a list of energy-related economic activities that should be considered as environmentally sustainable under the EU Taxonomy, including nuclear and natural gas. The motion will now be subject to a plenary vote for a final endorsement during the July session. If an absolute majority of MEPs (353) vote in favour to objecting to the CDA, the Commission will either have to withdraw or amend it.

 

EUROGROUP SUPPORTS CROTIA’S EURO ADOPTION, FAILS TO ADVANCE ON BANKING UNION

Following numerous discussions and the Eurogroup President’s efforts to revive the long-deadlocked Banking Union project, Member States once again failed to reach an agreement due to national concerns. EU countries’ Finance Ministers confirmed to postpone progress on the whole project to a later stage but committed to working on developing a common framework for bank crisis management, as well as rules on national deposit guarantee funds. Moreover, Ministers welcomed the decision to end Greece’s enhanced surveillance, as the country was considered to have delivered on all its commitments. Lastly, the Eurogroup recommended that Croatia should adopt the euro and therefore become the euro area’s 20th member.

 

WTO REACH AGREEMENT ON TRADE DEALS DESPITE GEOPOLITICAL TENSIONS

Trade ministers from across the globe reached agreements on seven various trade related issues at the World Trade Organisation conference in Geneva. The conference was shadowed by geopolitical tensions amplified by the Russian invasion of Ukraine. Most importantly, the European Union welcomed the agreements concerning fishing subsidies, preparedness for future pandemics, intellectual property, and food security. Furthermore, the EU confirmed its commitment to an open and rules-based multilateral trading system and WTO reform. The reform aims at ensuring a level-playing field and at including climate and sustainability on the WTO agenda. The next conference is scheduled to take place in 2023.

 

COUNCIL REACHES A GENERAL APPROACH ON THE REFORM OF THE SCHENGEN AREA

The Council adopted the general approach on the review of Schengen Borders Code. The reform introduces new tools to fight against the instrumentalization of migration flows, establishes a new legal framework for external border measures in the event of a health crisis, updates the legal framework for reintroducing internal border controls to safeguard the principle of free movement, and introduces alternative measures to the controls. The Council’s position clarifies the use of the procedure for transfers and the concept of instrumentalization as well as further strengthens procedural safeguards. The negotiation process with the Parliament will start once the Parliament adopts its position.

 

COUNCIL ADOPTS CONCLUSIONS ON COPERNICUS AND SPACE TRAFFIC MANAGEMENT

EU Ministers responsible for space adopted two sets of conclusions. On the EU’s Earth observation programme Copernicus, the conclusions sets political guidance for the future of the programme based on the three pillars: the Green Deal, digital transition, and security. On space traffic management, the Council introduces recommendations aimed to reduce the risk of collisions and ensure safety and sustainability of space, summarised under three topics: reinforcing the Union’s capabilities, encouraging coordination on legislation and standardisation, and reinforcing the EU’s voice on the international scene.

 

COMING UP NEXT WEEK

  • 21 June: General Affairs Council. On the agenda: work on European Council, Conference on the Future of Europe, European Semester 2022, transparency of political advertising.
  • 22 June: College of Commissioners meeting. On the agenda: International ocean governance nature protection package, review of trade and sustainable development
  • 22-23 June: European Parliament Plenary. On the agenda: EU membership of Ukraine, Moldova, Georgia, Emission Trading System, Carbon border adjustment mechanism.
  • 23 June: EU-Western Balkans leaders’ meeting.
  • 23-24 June: European Council. On the agenda: Ukraine, Economic issues, Conference on the Future of Europe, Wider Europe.
  • 26-28 June: G7 summit. On the agenda: Sustainable planet, Economic Stability and Transformation, Healthy lives, Investment in a better future, Stronger together.

 

Karl Isaksson, Managing Partner Brussels, Kreab

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Kreab • Tel: +32 2 737 6900 • karl.isaksson@kreab.comwww.kreab.com/brussels • Twitter: @KreabEU.

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