Brussels, 25 November 2022
MEMBER STATES FAILS TO AGREE ON GAS PRICE CAP PROPOSAL AT ENERGY COUNCIL
EU Energy Ministers failed to reach an agreement on Commission’s legislative proposal on a market correction mechanism (a gas price cap) put forward earlier this week. Notably, some Member States argue that the price cap for gas at €275 is too high. To recall, this proposal was part of a bigger package including a Regulation covering joint gas purchasing, new gas benchmark, intra-day volatility mechanism and EU energy solidarity, as well as a Regulation on accelerating granting of permissions for renewable technologies projects. Given that ministers managed to agree on two out of three regulations, the Czech Presidency calls for an additional Energy Council on 13 December to adopt the overall package by the end of the year.
PARLIAMENT APPROVES €18 BILLION LOAN TO UKRAINE
The European Parliament approved an €18 billion loan to support Ukraine’s essential public services such as running hospitals, schools, and housing for relocated people. In addition, the loan should contribute to the country’s macroeconomic stability and the restoration of critical infrastructure destroyed by Russia. The loan will be disbursed in quarterly instalments and requires Ukraine to carry out reforms to strengthen the country’s institutions and prepare for reconstruction and its path toward EU membership. In parallel, a resolution adopted by the Parliament declared Russia to be a state sponsor of terrorism. Furthermore, Members of the European Parliament urged EU member states to swiftly adopt a ninth sanctions package against Moscow.
THE EUROPEAN PARLIAMENT ADOPTS WOMEN ON BOARD DIRECTIVE
The European Parliament adopted the so-called “Women on Board” Directive which is supposed to introduce transparent recruitment procedures in companies. The Directive outlines that by July 2026, all large publicly listed companies in the EU will have to take measures to increase women’s presence at their helm. In particular, the Directive details that at least 40% of non-executive director posts or 33% of all director posts will have to be occupied by the under-represented sex by the end of June 2026. The Directive will be published in the EU’s Official Journal in the upcoming weeks and will enter into force 20 days later. Member states will need to transpose the rules within two years.
EU AGREES TO PROTECT THE MOST VULNERABLE TO CLIMATE CHANGE AT COP27
The United Nations Climate Change Conference COP27 ended with a common agreement to provide “loss and damage” funding for countries vulnerable to climate disasters. The EU together with other participating countries decided to establish new funding arrangements and a dedicated fund, to assist developing countries in responding to loss and damages. Furthermore, the European Commission hosted over 125 side events at the EU Pavilion on issues such as biodiversity protection and nature restoration, energy security and the green transition, and sustainable finance.
COMMISSION’S NEW PROPOSAL AIMS TO IMPROVE EU PUBLIC SERVICES
The Commission issued the Interoperable Europe Act proposal that aims to strengthen cross-border interoperability and cooperation in the public sector across the EU. With this proposal, the Commission wishes to create a network of interconnected digital public administrations and to accelerate the digital transformation of Europe’s public sector. Also, the new proposal should help the EU and its Member States to deliver better public services to citizens and businesses. The Commission estimates that the proposal can lead to cost-savings between €5.5 and €6.3 million for citizens and between €5.7 and €19.2 billion for businesses dealing with public administrations.
COMING UP NEXT WEEK
Karl Isaksson, Managing Partner Brussels, Kreab
Wednesday 18 | January | 2023
EU AGREES ON RUSSIAN OIL PRICE CAP AND ANNOUNCES NEW SANCTIONS PACKAGE The Council agreed to impose a ...
Monday 28 | November | 2022
COMMISSION SAYS BULGARIA, ROMANIA, AND CROATIA READY TO JOIN SCHENGEN The European Commission adopted a communication on the ...