DG Internal Market, Industry, Entrepreneurship and SMEs Directorate C: Industrial Transformation & Advanced Value Chains Unit C-2: Resource Efficiency & Raw Materials WEI Malmö, 04/11/2016 EU developments relevant to the sector Jeremy Wall, Principal Administrator, Forest-based Industries, DG GROW/C-2 (Resource Efficinecy & Raw Materials) GROW
Main sector-relevant EU developments • 1. Juncker Plan (IPE): EFSI • 2. The Circular Economy • 3. Cumulative Cost Assessment study of the EU Forest-based Industries
Juncker Plan (IPE): EFSI- general The Investment Plan for Europe (IPE) , was adopted in November 2014 as the first major initiative of the Juncker Commission. It seeks to reduce investment gaps in Europe. As part of the IPE, the European Fund for Strategic Investments (EFSI) aims to contribute to this goal by supporting investments and increasing access to finance for SMEs and mid-cap companies. EFSI’s dual objective is reflected in its two windows: the Infrastructure and Innovation Window (IIW) , implemented by the European Investment Bank (EIB); and the SME Window (SMEW) , implemented by the European Investment Fund (EIF).
Juncker Plan (IPE): EFSI- general With EFSI support, the EIB Group will provide funding for economically viable projects where it adds value, including projects with a higher risk profile than ordinary EIB activities. It will focus on sectors of key importance with the capacity to deliver a positive impact on the European economy, including: i. Strategic infrastructure including digital, transport and energy; ii. Education, research, development and innovation; iii. Expansion of renewable energy and resource efficiency. iv. Support for smaller businesses and midcap firms.
EFSI results so far By July 2016, under the Investment and Infrastructure Window, the EIB Board of Directors approved 97 operations, for a total approved amount of EUR 13.6 billion in EFSI financing. Under the SME Window, 192 operations have been approved. Those operations total EUR 6.8 billion in EFSI financing. Total expected investment triggered amounts to EUR 115.7 bn i.e. 37% of the target. • By 23 September 2016 the value of approved financing has risen to EUR 22.3bn with expected mobilised investment of EUR 127.2bn i.e 40% of the target.
EFSI 2.0 - proposed amendments 1 • Following the stock taking communication of 1 June 2016, the Commission proposed amendments to the Regulation 2015/1017 (EFSI Regulation) on 14 September 2016. • Main proposed amendments: • • Extending the operation of EFSI until the end of 2020 – financed mainly form the contribution from CEF and EIB. The expected target of the mobilised capital is EUR 500 bn • • Reinforcing the additionality requirements to make sure that EFSI supports projects that could not otherwise be financed by EIB
EFSI 2.0 - proposed amendments 2 • • Introducing a target for investments in transport and energy projects contributing to COP21 – EIB shall target that at least 40% on the EFSI financing under IIW supports projects with components contribution to the climate action, • • More proactive role for the European Investment Advisory Hub, particularly for investment platforms and projects in less developed regions. • Furthermore, explicit references are included to support industry and services in less developed regions and transition regions that would not be covered otherwise in the policy objectives of the EFSI Regulation.
• SME Window • European Investment Fund (EIF) financing under the EFSI for the four approved agreements with intermediary banks or funds amounts to EUR 96 million. It is expected to trigger EUR 353 million in investments and benefit 715 SMEs and start- ups.
• The European Investment Project Portal • The European Investment Project Portal (EIPP) is a new web portal enabling EU based project promoters – public or private – to reach potential investors worldwide. • It is part of the Investment Plan for Europe initiative to mobilise investment, promote economic growth and create more jobs across the EU. It responds to investors’ desire to see more potential EU investment opportunities in a central information platform. • The EIPP is available from 1/6/2016. The portal presents 117 projects now.
• The European Investment Advisory Hub • The European Investment Advisory Hub is Europe’s gateway to investment support. A joint initiative by the European Commission and the European Investment Bank under the Investment Plan for Europe, the Hub offers a single access point to a 360 degree offer of advisory and technical assistance services with the aim of strengthening Europe's investment and business environment.
Circular economy What is the Circular Economy? • Maintaining the value of products, materials and resources in the economy for as long as possible while minimising waste generation • To boost our economy and competitiveness with new business opportunities and innovative products and services. • For economic, social and environmental gains
Circular economy Potential of the Circular Economy? • Reduction of 500 million tons of GHG between 2015 and 2035(4) • Up to 600 billion savings – 8% of annual turnover for business in the EU (2) • Possible 170 000 direct jobs in waste management sectors created by 2035 • For economic, social and environmental gains
From a Linear Economy…
… to a Circular Economy
Objectives of the new Package • Synergies between environment and business agendas – Preserve resources while creating business opportunities – Closer links to other key EU priorities: climate and energy, jobs and growth, investment, innovation, social, industrial competitiveness • Propose concrete and ambitious action where EU intervention has high added value – e.g. long-term vision and targets on waste management; internal market rules for products; environment and consumers protection; regulatory obstacles or enforcement issues; innovation and investments
The Circular Economy Package Adopted by the Commission on 2 nd December 2015 • Action Plan List of Follow-up Legislative Communication Initiatives (Annex) proposal on waste
Action Plan
Circular economy New targets – packaging waste recycling 90% 80% % Prep for resue and recycling 70% 60% 50% 40% 30% 20% 10% 0% Existing targets 2012 (latest data) Target 2025 Target 2030 Plastic Wood Ferrous metal Aluminium Glass Paper and cardboard Overall → Repeal of the recovery and max recycling targets → Clarification on measuring (same approach as for municipal waste)
Circular economy (2) Extended producer responsibility Minimum requirements to be respected by Member States when developing and applying EPR, including: • Definition of the roles and responsibilities of the actors • Defining measurable targets and a reporting procedure • Information, transparency, dialogue • Full cost coverage • Monitoring by Member States • Link between the product's true end-of-life cost and fees to be paid by producers
Cumuative Cost Assessment (CCA): Overview CCAs: Cumulative cost assessments (CCAs) identify and quantify the various types of cost impacts (monetary obligations, CAPEX, OPEX, administrative burden, etc.) borne by a given industrial sector so as to comply with specified EU legislation. Focus: DG GROW has focused on the CCAs of EIIs (Energy Intensive Industries), as they are subject to numerous EU regulations. The aim is to cover the major EIIs. Time-line: so far, three CCAs have been already published - with very different results, and two more are being completed. They have been based on solid data, which in many cases have been collected at plant level. CCA for Steel published (2013)* CCA for Aluminium published (2013)* CCA for Chemicals published (2016)** CCA for Forest-based Industries (“F-BI”) being published (2016) CCA for Ceramic and Glass to be published (2017) * See http://ec.europa.eu/growth/sectors/raw- materials/industries/metals/index_en.htm ** See http://ec.europa.eu/growth/sectors/chemicals/ec-support_en 20 GROW
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