ESMA ORGANISES SECOND WORKSHOP ON “CCP MARGINS AND PROCYCLICALITY IN TIMES OF CRISIS’’

The European Securities and Markets Authority, the EU’s securities markets regulator, is organising its second workshop on CCP margins and procyclicality in times of crisis which will take place on 17 June 2021 from 2:30 to 5:00 PM (Paris time).

Speakers from ESMA (Nicoletta Giusto, Andreas Georgopoulos), from the ESRB (Mieke Wennekes) and from the private sector (Vanaja Indra, Insight Investments; Barry Hadingham, Aviva Investors; Gerrit van den Akker, NNIP; and Vicky Hsu, Blackrock) will give presentations.

The presentations will be followed by a Q&A session.



'Fit for 55 package': local leaders ready to take the helm as Council adopts a €17.5 billion Just Transition Fund

The Commission for the Environment, Climate change and Energy (ENVE) of the European Committee of the Regions debated on the Conference on the Future of Europe, the 2022 European Commission’s Work Programme and the ‘Fit for 55 package’ whose purpose is to update the EU’s 2030 climate and energy laws to reflect the 55% net emissions reduction target that the EU set for 2030. Other topics included the development of a trans-European energy infrastructure, the new EU strategy on climate adaptation and the mainstreaming of gender equality under the European Green Deal. ​

The ENVE meeting was chaired by Rastislav Trnka (SK/EPP), Chairman of Košice Self – Governing Region and First Vice-chair of the ENVE commission, who said: “We must work together to achieve the objectives of the ‘Fit for 55 package’, starting with the sectors that have the highest energy efficiency potential such as buildings, transport and industry. The revision of the Emissions Trading System (ETS) and that of the Directives on Renewable Energy, Energy Efficiency and the Energy Performance of Buildings is a unique opportunity to further support Local and Regional Authorities implement these policies on the ground. We are ready to take the helm.”

Members debated on the ‘Fit for 55 package’ with Cristina Lobillo Borrero, Director for Energy Policy, Strategy and Coordination at the European Commission’s DG ENER, who reiterated that local and regional authorities are ‘strategic to deliver the energy transition’ and pointed out the important role that the new National Ambassadors of the Covenant of Mayors can play in motivating local and regional authorities to join the Covenant and receive its support to deliver sustainable energy and climate plans that take Europe closer to climate-neutrality.

The European Commission plans to propose a “Fit for 55” legislative package in the summer of 2021. Today’s debate took place while the Council of the EU adopted a regulation establishing a €17.5 billion Just Transition Fund (JTF) to alleviate the socio-economic costs for communities across the EU that are heavily dependent on fossil fuels or GHG-intensive industries and need to diversify their local economy.

Intervening on the “Fit for 55” debate, Barbara Mariani, Policy Manager for Climate at the European Environmental Bureau (EEB) also emphasized the need to set a clear date to end subsidies on fossil-fuels in the EU, called for a phase-out of the free allocation of emission allowances and stressed that the decarbonisation of the agriculture sector is ‘lagging behind’.

All CoR members and participants of the Young Elected Politicians programme (YEPs) are invited to complete the survey to provide information on their climate commitments and participation in climate-related international networks.

On the Conference on the Future of Europe (CoFoE), Rebeca Harms, member of the CoR’s High Level Group on European Democracy , stressed the fundamental link between the CoFoE and the European Green Deal, ‘the major long term project in the EU’, and pointed out the transformation of our economy, industry, agriculture and lifestyle requires a close cooperation between the local, regional, national and European levels.’

Two drafts opinions were discussed and adopted:

On the opinion ‘Revised Trans-European Energy Infrastructure Regulation fit for the Green and Digital Transition’ , rapporteur Robert Sorin Negoiță (RO/PES), Mayor of Bucharest District 3, stressed that: “ Investing in trans-European energy infrastructure is key to achieve the new climate targets and the 2050 climate-neutrality objective and to provide clean affordable energy, leaving no one behind. We are pleased that the future framework will preserve the key role of regional groups in the identification and selection process of Projects of Common Interest (PCI) and Projects of Mutual Interest (PMI). If properly involved, cities and regions can ensure projects’ optimal impact, strengthening the presence of ‘citizens-prosumers’ and local energy communities.” The draft opinion was adopted unanimously.

On the opinion ‘Forging a climate-resilient Europe – the new EU Strategy on Adaptation to Climate Change’ , rapporteur Markku Markkula (FI/EPP), Chair of the Espoo City Board and President of the Helsinki Region, declared: “Regional and local roadmaps and Green Deal Going Local action plans based on political leadership are the way forward. We nevertheless need EU support instruments and financing to mobilise public-private investments, which remain key. Cities and regions are the ones demonstrating how we can reach climate neutrality through smart and systemic approaches.”

Members had an exchange of views on the opinion ‘Gender equality and climate change: towards gender mainstreaming in the European Green Deal’ . Rapporteur Kata TÜTTŐ (HU/PES), Deputy Mayor of Budapest, said: “Women and girls are disproportionately affected by the climate crisis. This is why it is important that gender equality and gender mainstreaming are present in the action at all levels within the European Green Deal. For a fairer and just recovery after the COVID-19 pandemic, cities and regions must prevent a gender-blind implementation of the green transition.” The Deputy-Director General of the European Commission’s DG CLIMA, Clara de la Torre, underlined the need to leverage the full potential of the transition while leaving no one behind. Click here to access our ongoing survey on gender and climate.

Members of the ENVE commission appointed Marieke Schouten (NL/Greens) as the rapporteur of the opinion ‘EU Action Plan: Towards Zero Pollution for Air, Water and Soil’ and Frida Nilsson (SE/Renew Europe) as the rapporteur of the opinion ‘Local and regional authorities accelerating the implementation of the EU Pollinators Initiative’.

Click here to access the agenda and working documents of the ENVE commission meeting of 7 June 2021.

Contact:
David Crous / David.Crous@cor.europa.eu
Berta Lopez Domenech / Berta.LopezDomenech@cor.europa.eu



Weekly schedule of President Charles Michel

Monday 7 June 2021
11.00 Phone call with President of Russia Vladimir Putin
15.00 Video conference with President of Mozambique Filipe Nyusi

Tuesday 8 June 2021
14.00 Video conference with Managing Director of the European Stability Mechanism Klaus Regling
The Hague
18.15 Meeting with Prime Minister of the Netherlands Mark Rutte

Wednesday 9 June 2021
Strasbourg
09.00 Report to the European Parliament

Friday 11 – Sunday 13 June 2021
G7 summit in Carbis Bay, Cornwall (UK)



Readout of the telephone conversation between President Charles Michel and Russian President Vladimir Putin

On 7 June 2021, President Michel spoke with President Putin on the phone.

President Michel conveyed the European Council’s position on EU-Russia relations and that in their May discussions, EU leaders condemned the illegal, provocative and disruptive Russian activities against the EU, its member states and others.

The EU stands united and in solidarity in face of such acts. The EU-Russia relations are at a low. This situation or its further deterioration is in neither side’s interest.

The EU remains committed to the five guiding principles governing the EU’s policy vis-à-vis Russia.

During the call the European Council president reiterated the EU’s unwavering support to Ukraine’s independence, sovereignty and territorial integrity within its internationally recognized borders and stressed Russia’s share of responsibility in fully implementing the Minsk agreements.

The situation in Belarus was also discussed. The president of the European Council reiterated the EU’s assessment of the forced landing of the Ryanair flight by the Belarusian authorities and informed of the sanctions imposed by the European Union following the incident.

President Michel stressed it was essential for Belarus authorities to release political prisoners, stop repressions and violence and engage in inclusive national dialogue. Russia can play an important role in supporting a peaceful settlement of the crisis.

The presidents also exchanged views on Libya, the Armenia-Azerbaijan conflict as well as on the COVID pandemic, vaccines and other global issues.



COVID-19: Council approves conclusions on the impact of the pandemic on internal security and terrorist threat

The Council approved two sets of conclusions on the impact of the pandemic, one on internal security and a second on the threat posed by terrorism and violent extremism.

Internal security

The conclusions acknowledge the unpredictable threats and challenges that the crisis posed to the internal security landscape. Focusing on making better use of existing means of cooperation and building upon established structures, the Council:

– encourages member states to identify practical solutions to prevent difficulties to strategical operational and tactical cross-border law enforcement cooperation

– underlines the need to prevent the infiltration of criminal networks in the implementation of the Next Generation EU

– encourages CEPOL (EU Agency for Law Enforcement Training) and the member states to develop scenario-based training and practical exercises to ensure preparedness and resilience for future pandemics and other crises

– stresses the need for the Commission to support Europol and the innovation lab to set up a common, resilient and secure instrument for communications in the EU law enforcement cooperation framework

– recommends to member states that they develop and promote awareness campaigns for their citizens to prevent the impact of cybercrime activities, as well as misinformation and hate speech

– encourages member states to share best practices on strategies that improve reporting channels for victims of crimes, such as domestic violence and sexual abuse, during lockdown and crisis situations

Terrorism and violent extremism

So far the impact of the COVID-19 pandemic on the terrorist threat seems to have been limited. However, the protracted pandemic may increase member states’ vulnerabilities and the risks of radicalisation. The online presence of extremist groups is on the rise since the outbreak of the COVID-19 pandemic. Due to COVID-19, counter-terrorism authorities have had to increasingly rely on online capabilities rendering/making their work more difficult.

In the medium to long term, the pandemic and its socio-economic consequences may prove to be a favourable breeding ground for extremist narratives. Some (violent) far-left, far-right and Islamist extremist groups have already incorporated COVID-19 into their narratives, and this might pose security challenges in the medium and long term.

The conclusions therefore:

– Call on member states to continuously contribute to the assessment of the online dimension of the terrorist threat by providing information to the relevant EU bodies. INTCEN (EU Intelligence and Situation Centre) and Europol should continue to deepen their assessment of the impact of the pandemic on terrorist operations

– Invite member states to swiftly give effect to the regulation on terrorist content online, and the Commission and EU internet referral unit to provide support with their technical and operational expertise

– Underline the influence of algorithms and their role in fostering radicalisation as another key point that deserves attention

– Note the need to pay increased attention to emerging security risks, as well as opportunities, stemming from new technologies and underline the role of the EU innovation hub

– Underline the utmost importance of continuing to develop secure VTC systems and channels for the exchange of classified information.